i was recently working on some technical analysis of shares and found Indiabulls interesting buy....
here i am presenting what i studied and how is the stock performing. i need the suggestions of all regular and advance trader......any contradictions to my views are invited....tell me where i thought was wrong and do tell me the future of the stock by you own technical analysis study...i will be thankful
1. at first i opened the 30 days chart of the indiabulls : -
it was as given
in this chart we can se that RSI as well as stochastic is starting to cross the oversold and the buying power is starting.
2. second thing that i wanted to confirm was that if i buy the share at this price and if my thinking and studying of chart goes wrong then is the share in the position that i can hold it for long term. so i zoomed out and saw the previous history of the indiabulls as given below: -
3. so the condition was that it got down from the highest price of 800 in the 2005-2006. then from 225 to 130.
4. i confirmed some news site if their is any negative news in few days about the indiabulls. and their was none.
according to study of charts i considered the indiabulls to be good buying call.
the other details of various indicators are: -
RSI of 14
Stochastics 8,3,4
I bought the share on 135 and sold at 140 then again bought at 141.....
now on thursday the market fell suddenly and continued on friday.
i want all the senior and expert members to kindly have the view and tell me if i am wrong in my analysis. also should i hold the stock for next 15-20 days in a hope for rise of around 20-30rs.
all replies are thanked....either good either bad
here i am presenting what i studied and how is the stock performing. i need the suggestions of all regular and advance trader......any contradictions to my views are invited....tell me where i thought was wrong and do tell me the future of the stock by you own technical analysis study...i will be thankful
1. at first i opened the 30 days chart of the indiabulls : -
it was as given
in this chart we can se that RSI as well as stochastic is starting to cross the oversold and the buying power is starting.
2. second thing that i wanted to confirm was that if i buy the share at this price and if my thinking and studying of chart goes wrong then is the share in the position that i can hold it for long term. so i zoomed out and saw the previous history of the indiabulls as given below: -
3. so the condition was that it got down from the highest price of 800 in the 2005-2006. then from 225 to 130.
4. i confirmed some news site if their is any negative news in few days about the indiabulls. and their was none.
according to study of charts i considered the indiabulls to be good buying call.
the other details of various indicators are: -
RSI of 14
Stochastics 8,3,4
I bought the share on 135 and sold at 140 then again bought at 141.....
now on thursday the market fell suddenly and continued on friday.
i want all the senior and expert members to kindly have the view and tell me if i am wrong in my analysis. also should i hold the stock for next 15-20 days in a hope for rise of around 20-30rs.
all replies are thanked....either good either bad
Last edited: