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| Discuss Technical trades-Q&A at the Stocks & Shares within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Dear Saint, Please let me know when can Amtek reach a target of 240. what ... |
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#122
25th July 2005, 09:34 PM
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Re: Amtek Auto/Petronet LNG/Indrapr.Gas
Hi Khan,
No definite target as we are in unchartered territory.Currently just trail stopping it upwards....stop loss now at 187,that's nearly break even from the point of entry.Once it takes out the previous high of 239,then we are going to raise the stop loss to 207(prev pivot) so on so forth.My first target if hit when I take my profits would be 265. Happy Trading! Saint 
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#124
25th July 2005, 10:22 PM
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Re: Amtek Auto/Petronet LNG/Indrapr.Gas
Hi Sam,
ONGC is forming a huge ascending triangle on the weekly which is usually bullish......the good thing about entering here is that you would be part of a blast off once volume comes into ONGC in a bid to breakout from that triangle.The bad thing of course would be that ONGC may sit in that triangle for months.So it all depends on your time frame,Sam...... if you are playing for the short term,there's a resistance at 975-1000 and it'll throw you around.Getting in now may not have been a wise idea.....If you are a long term player positioning yourself for a breakout and took small positions here,and would add after the breakout,and don't mind waiting weeks to months for that breakout,then it's a great move!! Happy Trading! Saint
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#125
26th July 2005, 11:13 AM
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Re: Amtek Auto/Petronet LNG/Indrapr.Gas
Hi Saint,
My first (Practical) lesson Learnt!! I was very much carried away by the media hype of ONGC-Mittal Jv's and made a decision keeping that in mind! Yes, It did take ONGC to a bit higher level from 938 to 965 but very unfortunate I was able to enter it only when it was 957 (due to gap in communication between me and my broker!!). I realised I have got into it a bit higher than I would have liked!! Now I need to find a way out without making a loss.....again as a typical trader (without the knowledge of technicals!!) I am waiting for some good news as their quarter results are out tommorow! Thanks for your efforts to reply me on every query!! -Sam.
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#126
27th July 2005, 09:50 AM
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Re: Amtek Auto/Petronet LNG/Indrapr.Gas
Quote:
Very nice....thanx!!Keeping it on my radar....  Phoenix 
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#127
28th July 2005, 06:04 PM
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Re: Amtek Auto/Petronet LNG/Indrapr.Gas
Quote:
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