Ranbaxy..Purely on Technicals as a trading IDEA

[nitin_guess]

Heyyy all u gr8 TA.. plz yr esteemed views on RANBAXY as a TRADING idea... i think the stock has bottomed out n shown a rounding bottom patter( acc 2 me) ..ill attach my charts so as to define my reasoning as well


Will really appreciate yr feedback n d same

Shubh

 

[nitin_guess]

First chart..Rounding bottom plus the MACD is positive


Second chart the 10dma cuttin 200dma and Price finally crossed 200dma resiistance so turns postive

 

[fire_gun]

according to me 420-25 level should be crossed good volume or reaction from 420-24 where 23% retracement. also placed could be accumlated and there is gap also which have to filled out ...and as 20 average is crossed is also gud sign...

 

[nitin_guess]

according to me 420-25 level should be crossed good volume or reaction from 420-24 where 23% retracement. also placed could be accumlated and there is gap also which have to filled out ...and as 20 average is crossed is also gud sign...

Dude i didnt really get wht u said.. ill tell u wht i got tht it needs 2 cross 420-24 level with volumes .. else what????whih gap???

 

[nitin_guess]

Ranbxy firing with all speed ahead...... plz i really hope some seniors TA advise as to how 2 continu e playin this stock.. iam think of selling one 450 call @ 5 rs as i have one 400call@ 16.3

 

[Luckytrader]

HI,

This is my view: (WEEKLY CHART)

Ranbaxy is in Sideway trend / Consolidation Phase.

STRONG SUPPORT ---> AROUND 340.00

STRONG RESISTANCE ---> AROUND 452.00

One Can Enter if there is a break-out above 452 level with good volumes only & prices should remain close above that level.

 

[Luckytrader]

OR

One should Buy @ 340 and Sell @450 as many chances he gets.

Happy Trading.

 

[nitin_guess]

YOU WILL LOSE A LOT

Could you plz elaborate on that... rather than making a vague statemnet..plz