REC closing at Jan expiry?

#1
Hi

Its a pleasure to join this group. I have been reading this off and on, amd am impressed with the quality of discussions.

I am not a professional trader - an amateur at best - so I am looking forward to some tips on how you guys read charts, etc.

At the moment, I have 6 RECL Jan futures lots. What do the senior members think of its expiry price - 300?

Thanks
Smallfish
 
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comm4300

Well-Known Member
#2
welcome to the forum !

REC just peeked above its 20DWMA and there is a chance that it will try to reach 310. Hopefully it will happen in the next 4 days of expiry - NIFTY WILLING!

here's the chart. There does not seem to be any resistance nearby - until 310.
Two things can happen - REC just crawls around here for a day or two testing the 5 and 20 DMA again before pushing up; OR it drops pretty bad and and negats the +ve push given on 19-Jan.


I'd bet my money on 300 being achieved. but, please use your risk management capacity to take a final call.....mera kya jata hai....kuch bhi bol sakta hu....its your money, pl take care.
 
#3
Thanks for the post.

Some of my questions may appear dumb...apologies for that.

1. What is a WMA (Weighted Moving Average?)
2. Any free software that generates such charts?
3. In Google Finance, I can add technicals to charts - but it has SMA (Simple Moving Average), EMA (Exponential Moving Average), and VMA (Volume Moving Average). Is WMA different from these?

Secondly, to cover any possible losses in case RECL does not reach 300, should I buy 300 puts?

Thanks again...