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Friday 14 September 2007

Indowind - a new listing


Indowind is a new stock which got listed at the stock exchanges today. A 65 rupee issue price went bang on in a single session just missing from getting doubled. It has been seen that most of these low priced stocks are subjected to heavy punter activity during in initial days. But the mood of the market has to be right for that too. Today was one perfect day for this lucky stock. Any one who traded long in the stock must have made money.
Refer to the image above and see that chart shows two major setups which if one could easily have recognized could have made beautiful entries for good green in the pocket. These are simple formations which somehow did work well and gave you a good picture. Nothing to admire in it but to make a killing is the essence of the matter. A cup formation breakout and then followed by a parallel channel breakout. The chart has been adjusted to show 5 minute formations though we never went to these formation and just visualized all on tick charts.
Let us pray we get good opportunities like these in the near future too.
This is just a little educative exercise to keep us on toes.

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