New Intermed Uptrend!!

[Saint]

Hi Saint,
1.----------

2. This case is about Godrej Consumer Prods----- a bit similar to above.
I was going through an analysis from a brokerage house --- their comment is: the stock has first resistance at 650 and if it goes past 650 then it will go into no resistance zone.----
What is the meaning of a no resistance zone? If a scrip has breakout also, then after some sharpupmove it will come down. I am enclosing the daily EOD chart of this scrip.

Kindly tell me a bit on the above two cases.
Regards,

babun

Hi Babun,

Shall answer query no 1 at a later date.

As for query 2,GODREJ CONS PROD has been making higher highs and lows on the monthly charts and so far looking bullish.I am not sure how they came to the conclusion of 650 as resistance though.

Happy Trading!
Saint

 

[babun]

Hi Saint,

In response to both of my queries, you mentioned about monthly chart ----- I normally used to see daily chart, should I actually check monthly chart before taking any buying decision?

Regards,

Babun

 

[ragh_ash]

hi babun
weekly and monthly chart give a more broader picture and saves you from getting caught in whip saws
regards

 

[dheerajmehta]

Hi Saint,

Whats your view on Himatsingka...i had entered @138 but its been hovering around that price for quite some time....should i get out and invest somewhere else?

Regards,

Dheeraj M

 

[Saint]

Hi Saint,

Whats your view on Himatsingka...i had entered @138 but its been hovering around that price for quite some time....should i get out and invest somewhere else?

Regards,

Dheeraj M

Hi Dheeraj,

Am also in it from 139.The pattern being the basis for the entry is not cracked open in the reverse as yet.Our stops of 115 is not taken out as yet.From a disciplined standpoint,no reason to exit at all.

But a market dump may break the triangle to the downside and take out our stops.So basically a decision you have to take.........if you have share sized properly and do not mind your stops of 115 being taken out,best to hold for now.

All the best!
Saint

 

[Saint]

hi babun
weekly and monthly chart give a more broader picture and saves you from getting caught in whip saws
regards

Great going,ragh_ash.........

Saint

 

[SSM]

Hi Saint
How are u doing mate? Could not make it for some reason or other for a while.
Anyway let me know whats to be done with ABB & Siemens. Both looked like making a flag but seem to have petered out.
Thanx

 

[VICKY_SEEKINGINR]

Hi Saint...

Any take for ranbaxy? its looks that it will close above the
450 level. Should I hold or sell.
And also want to know about Wipro.
What to short at higher Level?

Thanks & Regards
Vicky

 

[Saint]

Hi Saint...

Any take for ranbaxy? its looks that it will close above the
450 level. Should I hold or sell.
And also want to know about Wipro.
What to short at higher Level?

Thanks & Regards
Vicky

Hi Vicky,

RANBAXY :I'd sell.This area is strong resistance which does not mean it'll dump as of right now,but we are at an area of lots of supply.

WIPRO :A Hold if in already.Still making higher pivot highs and lows on the weekly.But not too sure abt the mkt at these levels .....so careful.May not be the time to sell off anything,but not the time to buy at least.

Shall update you on the shorts later.

Saint

 

[VICKY_SEEKINGINR]

Hi Vicky,

RANBAXY :I'd sell.This area is strong resistance which does not mean it'll dump as of right now,but we are at an area of lots of supply.

WIPRO :A Hold if in already.Still making higher pivot highs and lows on the weekly.But not too sure abt the mkt at these levels .....so careful.May not be the time to sell off anything,but not the time to buy at least.

Shall update you on the shorts later.

Saint

Thanks for Quick reply my friend.

Can short at 63-65 MArch future?

Thanks