EL Forge - Please Help!!

#1
Hello All,

I had bought EL Forge @ Rs. 119 per share. Its been going down since then (CMP 102) :(

Right now, it looks weak on technicals. I wanted your view on this from both technical and fundamental aspects.

Shall I wait for a turn around? Or shall I book loss and exit?

Thanks in advance,

Regards,
Anuj.
 
#2
hi cashgen,

eep.. sorry thats a tough loss! technically i aint too happy with the chart.

1. its in a downward trend that seems to stop only at Rs. 88.
2. its broken all resistances and supports.
3. the next support is at 100.9 (which it is close to brushing today)
4. Im not too good at chart patterns but it looks like a head and shoulders formation before this crash

my advice would be to sell immediately or wait until it drops under 100.9. pls check with other members too.

shorttermer
 
#3
shorttermer said:
hi cashgen,

eep.. sorry thats a tough loss! technically i aint too happy with the chart.

1. its in a downward trend that seems to stop only at Rs. 88.
2. its broken all resistances and supports.
3. the next support is at 100.9 (which it is close to brushing today)
4. Im not too good at chart patterns but it looks like a head and shoulders formation before this crash

my advice would be to sell immediately or wait until it drops under 100.9. pls check with other members too.

shorttermer
Thanks a ton for the analysis.

Will place a sell order @ 100 bucks. Would loose Rs.2500/- :(

Anywez, GET WELL SOON!! :)
 

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