iCharts Discussions

[girishhu1]

hi,
thanks .
what immediate targets u c for sail?
girish

[as4manju]

The potential down sides based on H&S pattern are 171-172 or worst case senario of 165 below and based on channel pattern it can be as deep as 155( remote chances).. Check the charts which i had posted lats week

Regards
Manju

[ali522003]

[ali522003]

169.6 1 lot takn

[as4manju]

If its intraday its difficult to keep a SL as mkt ll be volatile and ur SL can get trriggerd for a postional trade 181-182 can be a good level to keep as a SL

Regards
Manju

[girishhu1]

hi,
market is going down acc not moving anywhere?
girish

[as4manju]

Hi,

Acc being a H&S breakdown usally it will retest the necknline from where it broke down any way from 1010 to 980 now back to 1004 lets see not all the stocks falls immediatly some take time..

BHEL from 2280 to 2212 hmmm thats a heavy fall..

Kotak bank mentioned on 28 decmber 445 is the level to watch for already made a low of 414..

PFC my tgts was 290-285 today made a low of 284

Tata motors my final tgt was 1150 made a low of 1157..

BPCL ( mentioned trouble below 650) close to 600 now..

Relinfra today low is 820.2 my level is below 820 so its just kissed the low..



Regards

[girishhu1]

hi manjuji,
any breach of bdlevel on intrabasis should be taken for quitting the trade or it should be on eod basis?
regards,
girish

[as4manju]

You can keep Intraday trades level only to quit the trades or like a trailing SL in one the most prefered way for me.. as soon as the trade turns pprofitable trail ur sl to the cost price then keep moving it

Regards
Manju

[girishhu1]

hellow manjuji,
shall v consider the hns pattern in acc has failed as it has closed above neckline level of 1010?
regards,
girish

[as4manju]

Hi girish,

For time being it looks like that but how ever if u look at closesly at the trendline support 1000-995 is a major support for the stock and desicive close below those level would only mean that we in for a deep correction and still the pattern is vaild..

Regards
Manju

[as4manju]

Tata Steel - had earlier mentioned that 700 is a major resistance for the stock and all it did was only a day about that level and now back to 650.. going forward 640 is the level to watch for closely as close below that can take the stock to 600 levels..

Hdfc bank - sustained close below 2100 can take the stock to 1900 levels in near term( very remote chances provided nifty breaks down to 5550 levels)


earlier 5 january 2011 when mkts were around 6200 had mentioned that one needs to be catious on all the long trades and mkts have had all hell broken loose in 3 trading sessions now back to 5800-5750 levels.. i would suggest to avoid aggresive shorts for time being the best stratergy would be stay away from mkt for few sessions and let the mkt settle down before taking next set of trades..

Also many stocks espcially from the banking lot are near good medium term support zones and index itself nearing the 200 MA.. the best thing to do is conserve capital cause " a penny saved is a penny earned" ..

Regards
Manju

[SAKLECHA]

HAI MANJU

CAN I HOLD SHORT POSITION IN ACC

THANKS

NIRMAL SAKLECHA

[as4manju]

Hi,

As dicussed with girish regarding the break down is ACC is still not convincing for me if its a marginial loss its better to get out and enter only if cash close below 995 levels..
Always remember any trades u do if ur not comfertable get out immediately there ll be plenty of opportunity to come ur way..

Regards
Manju

[as4manju]

Sail had mentioned below 177 tgt 171-172 or even 165 and worst case senario of 155.. today the stock has reached tgt 1 of 171 trail the stop loss at 177 or 175 based on the risk appatite..

BPCL the stock has tanked 10% from 650 level and the call reached all tgts

For all the remaining calls open please trail the stops else book profits and wait for day or two for fresh trades

Regards
Manju