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Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

ENGLISH INDIA CLAY : Strong Sell

43 sec read

NITESH GUPTA | 03.15.08 – 1:05 am |
 
I HAVE 10 ENGLISH INDIA CLAY @3200.AND CMP IS 1739.WHAT SHOULD I DO? HOLD OR SELL.MY COST WILL COME IN NEAR FUTURE?
 
Rajandran R |  03.20.08 – 10:13 am |
 
Hi Nitesh Guptha,
Sorry to reply u late.
Your Stock English Inida Clay.. Technicals are weak. Charts show a strong selling signal. RSI level is at 72.19 just above the overbought level. Huge selling volumes on March 18th seen in the chart. In the short run your stock has support at 1130 and 937…..

As per My view the stock you holding is a speculation stock. It shows a uptrend only from oct,2007 what all the speculative stocks do from OCT 2007 onwards. It is hard to say that This stock may reach Rs400-500 range What the supports where in OCT 2007

My Advice is better you switch your stocks from English India Clay to Arvind Mills CMP is 38.

Regards,
Rajandran R

 
 
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Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
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