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Pradeep replied to the topic ORCHIDCHEM – Bullish above 63, Stop Loss 60 & Target 66 in the forum Dow Theory – Old but a Golden Concept 6 years, 10 months ago
Thanks for the feedback. I checked the Intraday chart just to get the confirmation whether the bottom formed was a lower bottom or not., however I should have avoided as we are now using only Dow theory and as you mentioned, we should wait for the confirmation of bullish trend and enter above Rs.70 + level after confirming the trend.
I will try…[Read more]
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Pradeep started the topic ORCHIDCHEM – Bullish above 63, Stop Loss 60 & Target 66 in the forum Dow Theory – Old but a Golden Concept 6 years, 10 months ago
Reason for going bullish on this stock :-
1.From the chart we could a sequence of Higher Top and Higher bottom with significant volume confirming the bullish trend.
2.Market fell on Friday and went down to Rs.60 level after the quarterly result announcement which was not inline with market expectation however recovered to Rs.62.35.
3. From the…[Read more]
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