Long or Short Opinion

[wormski]

jp associate needs to cross the squeezing trend. I will consider it shorting on the next red candle....will come down i think...cause the upward pressure is less according to volume...

Balram Chini will also start once the Trend line is broken on CCI

And suzlon seems to have a target of 85+

Hi Rajputz,
Which charting software is this one.

 

[rajputz]

Hi Rajputz,
Which charting software is this one.

amibroker v5.20

 

[rajputz]

Check trendlines on Suzlon....

 

[chaitanyagoa]

Hey,

Guys have a look at Unitech, 70-73 has been a very good support for the stock and it is holding up very well... Any Opinions?

Thanks

 

[rajputz]

Unitec is not a good buy according to me for now a days....also the market trend is not yet confirmed. let tomorrows market condition decide which way it is going...wait for confirmation....i am considering to buy unitec only if it comes out of this wedge on either side...but it is revolving in it for quite a long period....if tomorrow is a downday then u can short it, but if market recovers at the end then consider buying it only if it comes out of the trend lines....

 

[rajputz]

This is my view for it...if any body has his, he/she can openly make it here...but plz post charts guyz for the understanding of the decision....

 

[rajputz]

Going on for holidays for some time....you guys take care over here...i need to hold the position....about the todays market behavior i am not convinced that the down move has started. Tomorrows activity will tell....if market is holding above 5200, then it can be nice time to build up longs by professional....but tomorrows action is necessary...if tomorrow is a downday then the downward journey is again started...other wise todays gap down may be filled tomorrow by a indecision candle...lets c...hope it recovers...

 

[chaitanyagoa]

Going on for holidays for some time....you guys take care over here...i need to hold the position....about the todays market behavior i am not convinced that the down move has started. Tomorrows activity will tell....if market is holding above 5200, then it can be nice time to build up longs by professional....but tomorrows action is necessary...if tomorrow is a downday then the downward journey is again started...other wise todays gap down may be filled tomorrow by a indecision candle...lets c...hope it recovers...

Hey,

thanks for your Opinion ....But i dont think it is a good decision to short Unitech... The 70 zone has been a big accumulation zone .... Irrespective of whatever happens tomorrow i am long on Unitech ... Just my 2 cents

Reliance Industries are also showing some strength... have a look:thumb:

 

[rajputz]

I will my self consider buying reliance only near the 20 and 34 ema's and only if it takes support near that...that is on confirmation from my indicators...the place near the ema is the perfect bounce back....otherwise you cant gaurantee how much down it can come....dont go for buy of reliance at current levels...it can zoom to downside...

 

[rajputz]

See the fall on Unitec...the pressure is whole down chaitanya...you should wait for it to get out of the wedge in my honourly opinion....rest decision is yours...