Indian Hotels ( Help Required )

[sudoku1]

Markets correcting ,,, all hotel stocks down ,,, Indian Hotels has hit support of 160 ,,,

closed below 160....did it break the supp 2day.....??
NO.....!!!!!!!!!
A resistance becomes a supp....right ??? ......WRONG.....though tchnicians argur this but @ no of times...its useless to treat every res as supp & every broken supp as resistance....
INDIAN HOTEL.....2days close 157.
technically ,its a HOLD...as of now...only a CLOSE below 144 will alter the bullish outlook...

 

[jrfab]

closed below 160....did it break the supp 2day.....??
NO.....!!!!!!!!!
A resistance becomes a supp....right ??? ......WRONG.....though tchnicians argur this but @ no of times...its useless to treat every res as supp & every broken supp as resistance....
INDIAN HOTEL.....2days close 157.
technically ,its a HOLD...as of now...only a CLOSE below 144 will alter the bullish outlook...

Hey Sudoku ,, thnx 4 sharing ur knowledge ,,,,

Anyways any idea whether this sort of fall is normal or does there seem to be something amiss ,,,, the stock went up to 178 -179 and in a matter of days has come down to 155 levels again

Im no technical analyst but I have been trcking this stock very closely ,,, earlier when it hit a resis at 160 it had come down to 149.50 and from there it rallied 20 % ,,,, So if u take 149.50as the base from where it started rallying , it rallied 20 % to 178 -179 and from there has retraced almost 75 % ,,,,

Wld this stk still qualify as a good buy ??? I know uve suggested that 144 is the level to watch out 4 but Im asking this just 4 my knowledge ,,,,Is it normal 4 stks to give up 75 % of their gains , form a higher bottom and rally again <<<

Does what Im saying make sense ????

Does the chart indicate a higher top , higher bottom formation ?? and if so in that case shouldnt 149.50 act as a stop loss on closing basis ??

 

[sudoku1]

Hey Sudoku ,, thnx 4 sharing ur knowledge ,,,,

earlier when it hit a resis at 160 it had come down to 149.50 and from there it rallied 20 % ,,,, So if u take 149.50as the base from where it started rallying , it rallied 20 % to 178 -179 and from there has retraced almost 75 % ,,,,

Wld this stk still qualify as a good buy ??? I know uve suggested that 144 is the level to watch out 4 but Im asking this just 4 my knowledge ,,,,Is it normal 4 stks to give up 75 % of their gains , form a higher bottom and rally again <<<

Does the chart indicate a higher top , higher bottom formation ?? and if so in that case shouldnt 149.50 act as a stop loss on closing basis ??

yes ,it is possible for any stock for this retracement which u mentioned...
but in case of IND HOTEL....it made a major botom on 21/8/07 @ 118 close...so this level should b a benchmark for all future retracements as this was the base wher a prolonged fall halted & not 149 accor to u...
coincidingly.....even the sensex made a major bottom on this very day @ 13989 close....
so till 144 cracks...no problem....

 

[jrfab]

Thnx a lot once more ,,, I dont have any tech knowledge but just keep trying to make as much sense of the data as possible :

Have bought lots of calls of Indian Hotels of 160 & 170 strike price for Jan series ,,, Hope it recovers and tests new highs this month

 

[jrfab]

Dead Man Walking ,,,, Finally the scrip has staged some sort of recovery today ,,,,up 4 % ,,, but that maybe because it was kind of oversold ,,, slam dunked from 178 levels to 142 ,,,, lets see what happens from here .,,, \

Hey SUDOKU ure a champ ,,, it did not close below the 144 level that u had mentioned ,,,,