Long or Short Opinion

[scplindia]

ITC, bonus news is out, 1:1 so now it is a short on news being released.

the runup from 250 tp 299 was on this news, now it is profit booking time, or shorting on news

 

[rrmhatre72]

hi All,

Pls let me know views on L&T.
I am holding in cash.
Will it go further in next two months or is it right time to book profit & re-enter at lower levels?

 

[simple_trader]

it appears to be one more round of bear trapping is coming!! we can move to 5320-30 NF range.

 

[simple_trader]

it appears to be one more round of bear trapping is coming!! we can move to 5320-30 NF range.

Over all 5250 NF around is support. If we break this it can fall to 5220 NF. Most likely RBI news would be in the corner, hence over night long may be a bit problematic.

NF future has double top at 5297 so far.

 

[rajputz]

ITC made a high of 299....complete the target...

 

[rajputz]

hi All,

Pls let me know views on L&T.
I am holding in cash.
Will it go further in next two months or is it right time to book profit & re-enter at lower levels?

On daily charts it is in strong uptrend. No exit according to my system yet.

 

[rrmhatre72]

On daily charts it is in strong uptrend. No exit according to my system yet.

Thanks Buddy.
I will keep on holding it.
Do let me know in case you observe any trend reversal in future.

 

[rajputz]

Thanks Buddy.
I will keep on holding it.
Do let me know in case you observe any trend reversal in future.

Untill and unless CCI is above this +100 line, you can safely hold your position. On eod basis, the day it crosses below it, square off your positions...

 

[simple_trader]

no idea simple bhai
aur jo aapne metal kee weakness ke bare me likha hai use dekh kar soch raha hu ki sterlite par jyada depend kar sakta hu.
thanks bhai for the guidance.

Hope you made good money in metal shorts today

 

[rrmhatre72]

Untill and unless CCI is above this +100 line, you can safely hold your position. On eod basis, the day it crosses below it, square off your positions...

Hi Raj,

Some basic questions on charts.

1. When you say +100 line, Does it mean 100DMA line? Is it SMA or EMA?
2. When you say above +100 line, Does it mean complete candle should be above that? I mean to say even lower end of candle (low for the day) should be above that tine. Or just close should be above that line