Vijaya Bank proving that might call was right didnt have the patience or risk appetite for a deeper stop loss. You were wrong about 2 days late because the stock has been making higher high. It was tuesday that it failed to hold the high wednesday confirmed it and thursday I went short and since tuesday everyday it is failing to maintain its high with high volumes. There might be a massive down move here soon. Still not late to enter short. If some1 has a bigger risk profile go short with 64 as stop target still at 58 first followed by 55
Long or Short Opinion
- Thread starter rajputz
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Lol tuesday was 8th june. I needed a price confirmation as it didnt have any resistance. Please do post the chart. For me I use volume Spread analysis for this. If the price went to make a new high failed to maintain it and fell and close to the low on high volume that shows distribution.
This is an indication of the weakness I needed a confirmation which was provided on Wednesday where stock closed lower again and failed to breach the highs, Thursday confirmed it again and with good volumes. Today a breach lower has started.
This is an indication of the weakness I needed a confirmation which was provided on Wednesday where stock closed lower again and failed to breach the highs, Thursday confirmed it again and with good volumes. Today a breach lower has started.
My targets achieved on upside Wednesday there was a rally on the dow but it failed to keep the gains which were taken back of thursday. My expectation was a hit. Now today is Friday and I expect a bit of bad news late this evening and will look for a target of 10050 on the dow. I expect the dow to open around -100 and look to fill the gap created yesterday by gaping down. On the upside if 10,200 is taken out my target would be 10,351. I am still sticking my neck out and will like to believe we will hit 10,050 as that is what my system indicates. Volumes yesterday were low.
I expect a target of 10,700 beginning of july to mid july on the dow. As long as 9775 is not taken out.
And like I said before in my post on tuesday that friday will give us the trend decider and what a prediction it came out to be the dow is critically placed on the top of the downward slopping trendline. If we fall today we will continue in the bear market however, if we breach it we will go up.
I expect a target of 10,700 beginning of july to mid july on the dow. As long as 9775 is not taken out.
And like I said before in my post on tuesday that friday will give us the trend decider and what a prediction it came out to be the dow is critically placed on the top of the downward slopping trendline. If we fall today we will continue in the bear market however, if we breach it we will go up.
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