Tuesday, February 15, 2011
Posted by Tryin2Trade at 1:06 PM
Monday, February 7, 2011
Sunday, February 6, 2011
LIC Housing seems to be out of favor these days…almost 50% off its highs…being scam tainted did bring some bad press to it, but I feel the FII and other institutional money which were invested in it, saw their investment go up more than 3+ times, and they might have just decided to book profits and lighten up their load!
Nevertheless it’s a good stock to invest in and not bad at these levels, perhaps add a lil if we get it at 140-150. What you see above is a nice inv H&S happening, but mucho depends on the 200-05 range as the 200 periods MA is almost forming the neckline to this formation. The real strength in this stock emerges above 220; it is there it might get the attention of the breakout junkies!
Personally I would get into LIC Housing for investment and look elsewhere for a trading opportunity.
Posted by Tryin2Trade at 4:59 PM
Saturday, February 5, 2011
What you see below to your left is the daily chart of L&T. A perfect illustration of H&S, and then a perfect achievement of the target to the downside. Is this the end of the fall??? Frankly speaking no idea… as they say that no support or resistance is strong enuff when the Price is in a strong trend! 1550 looks like a small speed breaker for now.
On the hourly chart (to your right) we can see the fall has been parabolic and now a bullish divergence is seen, but then the price has not given any confirmation to it. If playing for a small bounce then buying above 1580 with a strict 20 point stop can target 1600 and 1620…whereas the real strength will emerge on a strong (volumes!) close above 1650!
Posted by Tryin2Trade at 3:12 PM