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| Discuss Will Ranbaxy Bounce back? at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Today Ranbaxy was the top gainer. The question is ..will the bullishness continue? Ranbaxy bounced ... |
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#1
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Today Ranbaxy was the top gainer. The question is ..will the bullishness continue?
Ranbaxy bounced off the lower trend line. So technically speaking the chances are that it will try to move up to the upper trend line. It would mean that it may bounce back to about 380 – 400. The daily MACD and the Histogram does suggest some bullishness coming back to take it up to these levels. However the timeline could b at leat two months. Any views? Weekly Chart Enclosed Regards Last edited by karthikmarar; 20th May 2008 at 12:25 AM. |
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#2
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Wow a chart from the guru in the equities section after so many days. I havnt looked at the chart. But it was goin up on a news that it was the only Indian company to be in the 2ns league of aquiring generic business of Merck. but ysterday it pulled out of the bidding process. expecting some profit booking.
http://www.forbes.com/business/2007/...markets11.html thanks |
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#3
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I will keep a watch on this stock. Regards, Luckytrader |
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#4
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Hmm.. so it did bounce back. Now almost back to the upper end of the channel in less than two months... It will be interesting to watch whether it will break out of the channel or bounce down from the upper trend line and seek the lower trend line of the channel...The stock is rather interestingly poised... Chart enclosed Regards Karthik Last edited by karthikmarar; 20th May 2008 at 12:18 AM. |
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#5
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Quote:
![]() Raj |
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#6
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Like expected the stock did bounce back to the upper end of the channel. Unfortunately it was unable to break out of this channel and now trending down. Now the big question is ..Will it drop down to the bottom of the channel....meaning will it drop down to 300 levels...mmm.. quite probably.. it will be intersting to watch.. regards Karthik Last edited by karthikmarar; 20th May 2008 at 12:25 AM. |
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#7
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Hi Karthik,below 300 its a buy on dips for me.I wud accumulate.Its a rather good company(even fundamentally)to be languishing at these levels,when no gooders are just perking up like anything.I hate this.
![]() ![]() ![]() ![]() Warm Regards Amit. |
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#8
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![]() You mean KM is 161.8 years old. ![]() Hahahaha Chachaji. |
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#9
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I think you are not aware that he is my uncle. He got pretty busy now a days. cant catch him only. Hope he gets some time like before
RAj |
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#10
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Attack of the fibonacci numbers eh?
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