BILT Chart pattern

gcvikranth · #1 30th October 2006, 06:22 PM

Hi All,
Can you please validate my observation on BILT.
It seems to be in an uptrend channel. Is it a BUY signal around 122.

Thanks,
Vikranth

Traderji · #2 30th October 2006, 07:22 PM

Quote:

Originally Posted by gcvikranth

Hi All,
Can you please validate my observation on BILT.
It seems to be in an uptrend channel. Is it a BUY signal around 122.

Thanks,
Vikranth

Your observations are correct.

BILT is in an upward channel trend.

You can BUY now with a stoploss at 118.00

wincircle · #3 30th October 2006, 09:55 PM

good research

rvlv · #4 31st October 2006, 03:57 AM

Gents,

First
Vikranth-good work-keep it going!!!!!!

The chart is good and helpful.
thanks for the chart.

for those fond of similar charts
---------------------------------------
YOU can find similar charts on
www.investtech.com
You can see the trendchannels clearly.
THEY offer 2 week freetrial.

You may see the chart
in attachment

comments for BILT
Neutral (Medium term) - Oct 23, 2006 Analysis Explanation
Has broken the floor of the rising trend, which indicates a weaker initial rising rate. The stock has marginally broken down through the support at 122. An established break predicts a further decline. The stock is assessed as technically neutral for the medium long term.

INDIACEMENT
Positive Candidate (Medium term) - Oct 23, 2006 Analysis Explanation
India Cements Ltd has fallen back towards the floor of the rising trend channel. A continued rise may be expected and the current price level may be a good entry price. The stock is approaching the resistance at 237, which may give a negative reaction. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the the stock in the short term. The stock is overall assessed as technically positive for the medium long term.

ULTRATECHCEMENT
see the chart

Why do I select Indiacement and ultratechcement?
Because both of them have a 20 to 23% upside pricemevement yet to happen!!!!!!!

Rvlv

gcvikranth · #5 5th November 2006, 12:50 PM

Hi,
I hold BILT stock. Bought around 123 last week based on the assumption that it is stuck in a upward trend channel, Price target being around 133 Rs.

Please look at the updated daily chart again, EOD 3 Nov-06
It shows that support line being penetrated, signalling that there is a weakening of the trend.

However if I look a the the candle stick chart for the last few days it indicates a formation of
Tweezer bottom, which is a Bullish reversal pattern.Also there is Dozi line on the last day, because the stock has neared the support.

Based on these observations should I continue to hold this stock or exit with a loss.

Thanks and Regards,
Vikranth

darsh_goswami · #6 5th November 2006, 04:20 PM

Quote:

Originally Posted by gcvikranth

Hi,
I hold BILT stock. Bought around 123 last week based on the assumption that it is stuck in a upward trend channel, Price target being around 133 Rs.

Please look at the updated daily chart again, EOD 3 Nov-06
It shows that support line being penetrated, signalling that there is a weakening of the trend.

However if I look a the the candle stick chart for the last few days it indicates a formation of
Tweezer bottom, which is a Bullish reversal pattern.Also there is Dozi line on the last day, because the stock has neared the support.

Based on these observations should I continue to hold this stock or exit with a loss.

Thanks and Regards,
Vikranth

Hi Vikranth,..
Though the support line has been penetrated , its always advisable to get out of the stock. But I think the stoploss should be decided on the closing basis. Dont leave ur holding positions just becoz ur support line got penetrated. Wait till the confirmation. If it will break the support line and close below it. It will come back to support line once again. That pullback can be used to exit from it.
Experts suggestion welcomed.

All the best,..
Regards,..
darsh

jaykiru · #7 5th November 2006, 07:02 PM

Quote:

Originally Posted by darsh_goswami

Hi Vikranth,..
Though the support line has been penetrated , its always advisable to get out of the stock. But I think the stoploss should be decided on the closing basis. Dont leave ur holding positions just becoz ur support line got penetrated. Wait till the confirmation. If it will break the support line and close below it. It will come back to support line once again. That pullback can be used to exit from it.
Experts suggestion welcomed.

All the best,..
Regards,..
darsh

With Volume....

.. please hold it with S.L of last day low..

Regards
Jay

gcvikranth · #8 7th November 2006, 09:57 AM

Hi,
Please find updated BILT chart for EOD 6 Nov.
The close price has been right at the support line. however the intraday has been much lower.
Should I exit my position bought around 124.

Thanks and Regards,
Vikranth

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