Jp associates buy or sell?

[chirag]

42?
Man, ill send you a box of chocolates if it comes to 42 within the coming week.

 

[ryan4ucar]

42?
Man, ill send you a box of chocolates if it comes to 42 within the coming week.

if market stays in a range and no other crashes occur it definately has a chance of 45

 

[chirag]

45 seems like a distant dream now

 

[manojborle]

when it coming down in a hurry nobody shorts it cause they are scared and when its accumulating at the bottom everyone wants to short it its a classic way to loose money , bull periods last longer than bear periods and the best way to trade bear flags as shorts is when they break to the down side not upside my best guess this will come to 42 ,45 in the next few days then only can think of shorting it

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Update to previous post....

 

[manojborle]

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My reading, Please share your views which can benefit all of us ..

Thanks

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Updated Chart, what do you think guys was the analysis helpful..
Thanks

 

[ryan4ucar]

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Updated Chart, what do you think guys was the analysis helpful..
Thanks

yes it was helpful , but every time you go short a bear flag on the break of the opposite side ull require news like today to help you out think about the odds

 

[manojborle]

yes it was helpful , but every time you go short a bear flag on the break of the opposite side ull require news like today to help you out think about the odds

Thanks for your views
I have not said in my post to go short on break of opposite side but to go short above the range and cover at lower side of the range and if it breaks the lower side then you can hold your short.

In a trading range, SELL HIGH BUY LOW AND SCALP, taken from Al Brooks..

Thanks

 

[ryan4ucar]

Thanks for your views
I have not said in my post to go short on break of opposite side but to go short above the range and cover at lower side of the range and if it breaks the lower side then you can hold your short.

In a trading range, SELL HIGH BUY LOW AND SCALP, taken from Al Brooks..

Thanks

I am not saying the trade is wrong or that you are taking short on opposite side of break , just the probabilities of the trade working are low as stocks has fallen for a long way and is basing below the base it makes sense to short... above base you can get squeezed higher and sometimes your loss is not what you think it will be.

An Example is the chart above so say you went short in this stock at the close at 137.5 near the blue line , the next day it opens up at 145 , maybe you think you can get out at a 2 rupee loss but actuall gapup loss is much more higer ... if you hold it it goes much more higher to 160 ...so you see i am talking from the practical point of view having traded and watched these patters trade hundreds of times. its better to short into weakness then strength

 

[KrutikaliPatel]

quite interesting to know all these

 

[chirag]

JP has closed above 36 today. I think it will touch 40 this month itself due to the speculation of its cement unit being sold to ultratech