Friday, August 28, 2009

Trading Idea: Buy United Phosphorus

Charts Courtesy:

BUY: United Phosphorus (Closing Price 168)
Accumulation Zone: Rs.165-170
Stop Loss: Rs.158
Targets: T1 Rs.175, T2 Rs.185

Updation of Past Calls:

1) Tata Communication Buy call got active above Rs.520 today.
Stop Loss for the same to be Rs.500, unless any changes intimated.
2) Trail Stop Loss in HDIL Buy call from Rs.280 given earlier to Rs.290.
3) Stop Loss in Orchid Chemicals Buy Call remains unchanged.
4) Trail Stop Loss in Videocon from Rs.210 given earlier to Rs.222.

Note: First Target in both Videocon & Orchid Buy calls got achieved. It was recommended on the blog to Book 30% gains in Videocon & 60% gains in Orchid at levels of first targets.

Disclaimer: All data, content and/or reports posted by Viral Rajnikant Dholakia on this site are only for information and educational purpose of visitor/readers of this blog. It does not constitute to be a recommendation/offer/advice to buy or sell assets/securities in any form. Individuals/organizations are requested to take an informed call by consulting their Financial Advisor before acting on any matter/data published on this blog. This blog does not warrant of any kind of accuracy, adequacy and completeness of data, ideas or thoughts published in it. This site and Viral Rajnikant Dholakia assumes no responsibility or liability or loss or damage of any kind/nature for your trading and investment decisions and its consequent results.


Thondaiman said...

Dear Viral,

Your united phosphorus call is still open. It has not broken its support or resistance. Hence I am planing to take position in this scrip on Tuesday. Please let me know in case you have opinion against it. Thank you.

Viral Rajnikant Dholakia said...

Dear Thondaiman,

Stay away from United Phosphorus call as of now. The basis on which that call was made related to Triangluar Patterns, did not fructify. The Triangular pattern went on stretching, and hence not appropriate to take the call.

Ideally, the breakout from the triangular pattern should occur within the 2/3rd of the width of the Triangle. Pls Avoid the call as of now.

Anyways, Thank you for reminding me about the status of the United Phosphorus call.

Thondaiman said...

Thank you ViralJi. As per your advice I will avoid this scrip.