Rei Agro

#1
Hello All,

I had bought REI AGRO @ 207 around 15 days back. Since then, its been going down and is right now hovering around 185.

The EOD candle stick chart indicates a trend reversal with 52-week high volumes for yesterday, 24th Nov. In view of the same, can I expect an uptrend in the days to come? I believe it will touch 222-225 in about 10-12 days. Is this analysis reasonably correct?

Thaks in advance.

-- Anuj.
 

karthikmarar

Well-Known Member
#3
Anuj

Something amiss here. You said 52 week high volume on 24th Nov.....
Please do check again. The volume was 1.73 lakhs....nowhere near the 52 week high.

Also my analysis seems to differ from yours. The stock is currently bearish. The 3 day MA is below the the 13 and 13 day MA indicating the bearishness in the short term. The rising ADX line indicating strengthing bearishness. curently near the support level 180. Below 180 would be 170. So it will be good if it stays above 180. Touching 222-225 in about 10-12 days time seems quite unlikely.

I am enclosing my chart (as of 24th, anyway price fell further..so analysis remains the same) for comparing notes...

warm regards

Karthik
 
Last edited:
#4
Karthik,

Thanks a ton for the analysis. Yes, I might have erred in data gathering. So what is the suggestion - wait for it to come up or book loss n exit?

Also, it would be great if you would tell me how to get these charts. I have access to only intraday/EOD charts which are not sufficient for such analysis.

Thanks again for the help. :)

Regards,
-- Anuj.
 

karthikmarar

Well-Known Member
#5
Anuj

You are already down 10% while the normaly followed stoploss is 4% to 7%.
Historically this one has bounced back sharply from bearish conditions. For example late september and middle of october you can see the good recovery .. observe in the chart. So hold it with a stoploss of 180. below 180 the next support is at 170. Let us hope it will recover fast like earlier times. We can check on this again after a few sessions.

on charts , I am also using EOD charts only. I am using metastock for my analysis.

regards

Karthik
 

Similar threads

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?