Price action with Candlestick Analysis(No indicators)

Riskyman

Well-Known Member
Hik & Gurmy,

Im entirely new to this. First try at drawing S/R lines. Please advise if my thoughts are in the correct direction wit respect to Larsen & tourbo.


http://img198.imageshack.us/img198/4945/18640207.jpg

Stock had resistance at 1475 levels (Red circle) which it didn't hold and is heading down towards 1310-1315 levels which is a support zone (Red line)

Am i correct?
 
Last edited:

Riskyman

Well-Known Member
Hik & Gurmy,

Another one. Bank of india. Can you please let me know if I have drawn the lines correctly?



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Thanks for your feedback

Rgds
 

Riskyman

Well-Known Member


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So with Sesagoa we either wait for it to crack 158 levels or bounce back at 158. If it cracks 158 then we can short it. If it bounces back then we can go long for a target of 172????
 

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