Bongaigoan refineries

#1
Bongaigoan refineries is on the rise since past few days, someone in this forum suggested this month or two month ago. Thanks to that person.

Hope we get some more good tips .... :)
 

Traderji

Super Moderator
#2
shresti said:
Bongaigoan refineries is on the rise since past few days, someone in this forum suggested this month or two month ago. Thanks to that person.

Hope we get some more good tips .... :)
Thank you shresti,

We hope to hear more from you in the future!
 

Traderji

Super Moderator
#4
mohandee said:
Dear Traderji, Please advise me on whether I should hold or exit from this stock. I am holding 400 shares from December 2004
Bongaigaon Refineries has been in a sideways consolidation since November 2004 (when it made a high of 107).

Currently this stock has major resistance at the 93-95 range. Only a close above these levels would see the stock go higher. I would suggest a hold with a stoploss at 83.00
 
#5
T'ji,

This is how i'm interpreting the charts - BNGR has just broken its minor downtrend and initiated it's up-trend although it has to test the trend-line again to give confirmation. Pl. let me know your thoughts.

Thanks,
 
#8
T'ji,

crystal clear.

Well, that shows why analysing charts is an art. I've been standing upside down in front of the charts to identify patterns but, have always been finding fake patterns. I guess, i'm trying to force patterns on the chart :)

T'ji can you give us some practical tips / techniques on how one should go about analysing the chart and avoid the amateur mistakes, like the one you just came across.



Thanks,
 
#9
Guys,

Bongaigaon has given breakout from its downward channel. The first target according to me is 105 - 110. I still don't know how to calc SL so, i'll take it as the top line of the downward channel (see T'ji's chart from previous post)as the SL.

Pl. let me know your thoughts.

Regards,
 
#10
bongaigaon will confirm the break out if it does not close below 92.65 in the next few days. though it closed for 2 trading days above 96, today it came down to 93.25. anyway difficult to see it cross 107 in the coming days. yearly profits will be great, & hefty dividends will be declared, but from April 1,'05, import parity prices is not being passed on to stand alone refineries. this will impact this year first quarter profits.
 
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