Technical Calls:Bf Utility and Bombay Dyeing

By | January 10, 2012

When a position is getting ready to stop you out at a loss, do you find yourself bargaining with the name? Do you find your frustration level rising? Do you justify the reason for the move against you, and give it a little more room, only to get stopped out at a bigger loss? Or even worse, perhaps you now find yourself sitting on a double-digit loss, and are frozen with what to do with this now sinking ship? And perhaps the biggest fear for a trader is closing out a position only to see it run back in their favor moments later. Trust me when I say that every trader, seasoned or not, has these moments when stop levels are hit and they hesitate with pulling the trigger

BF Utilities

BF Utilities is breaking out of symmetrical triangle formation.Stock rose yesterday with good volumes. Break above 304 will lead to 332 in short term

Buy above 304 TGt 309,318 and 332 Keep sl 300

 

Bombay Dyeing

 

Bombay Dyeing forming symmetrical with double top formation 384, with resistance at trendline resistance at 386.

Buy above 386 Tgt 391,398

Sell below 379 (Unable to cross 386) Tgt 374,367

 

 

 

 

 

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