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| Discuss Buy Signal of Bharat Forge at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi, In Bharat forge the intermittent wave count "b" has started from 2/1/07 & ended ... |
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#1
26th February 2007, 07:14 AM
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Buy Signal of Bharat Forge
Hi,
In Bharat forge the intermittent wave count "b" has started from 2/1/07 & ended on 2/09/07,then the downward "c" wave unfolded.Now as the "a" wave,which started from 1/15/07 has a 5wave correction hence "c" is expected to be a simple correction.As the Low of 2/23/07 is exactly 1.25 of "b" wave hence it can be reasonable to conclude that correction has ended & an imulse wave is due from today until 320.95 is not breached today.More over on weekly time frame the scrip is in 4th wave hence the 5th wave when unfolded will have to cross the earlier 3rd top of 487.80.So the Risk/Reward ratio is exteremly mouth watering .In Metastock u will find that the fibonicci level of .382 is 322.68 .In my method of Supp/Res 322.92/320.86/318.80 (there is a confluence of 3 Supports).Looking at all these i would take a safe bet of Buying this counter today, after watching 1st half hour with 318.45 SL.There are ample stocks for "MATHA" (matha is a term used in Kolkata for Shorting).I have taken HLL on thursday @ 186.70. Market humbels me every day let us see how it unfolds today. Asish 
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#2
26th February 2007, 07:21 AM
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Re: Buy Signal of Bharat Forge
uasish,
I dont understand technical analysis much...but fundamentaly Bharat Forge is one of the few best pick available at current price...I think next 5 quaterly results will be surpirse for market (based on what they have invested they will start seeing returns in next 10-24 months)..
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#4
26th February 2007, 11:44 AM
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Re: Buy Signal of Bharat Forge
There is a saying in the Mkt place that if the Open & High is same then Short,
still now Bhart Forge 330.00 is the O & H in Nse,hence let us see what happens. Asish
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#8
26th February 2007, 07:53 PM
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Re: Buy Signal of Bharat Forge
Sunil Saranjame,
Bought today ,becoz i walk my talk.Thk you for your views will cautiously trail my SL.However 330.50 was my resistance point. Asish
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