If you do not have a financial goal and need a technical strategy on exiting your counter, please follow the below steps.
Step 1: Goto http://www.icharts.in/
Step 2: Click on the link ‘charts’ on the left hand side pane.
Step 3: Provide the appropriate values for the chart.
3.1. Select the ‘Symbol’ for which the chart needs to be displayed by clicking on the ‘?’.
3.2. Select Period as ‘Daily’ if you wish to see the chart for a ‘Momentum’ Recommendation. Select period as ‘Weekly’ if you wish to see the chart for a ‘Delivery’ Recommendation.
3.3. Select Chart Size as “Large”.
3.4. Select Chart Type as “Candlestick”.
3.5. Select “Predefined Date Range” as 3 months or 6 months depending on for what range you wish to see the chart. You could also select a custom date range if you wish.
3.6. At the bottom, select the 3 “Upper Indicators” as Exponential Moving Average and their values as (Close, 05), (Close, 13) and (Close, 26) as shown in the screen shot above.
3.7. Select all the “Lower Indicators” as none.
3.8. Click the “Refresh Chart” button.
Step 4: Analyze.
4.1. When the RED line i.e. Exponential Moving Average (Close, 05) cuts the BLUE line i.e. Exponential Moving Average (Close, 13) from the TOP in a downward direction, exit 30% from the counter.
4.2. When the RED line i.e. Exponential Moving Average (Close, 05) cuts the GREEN line i.e. Exponential Moving Average (Close, 26) from the TOP in a downward direction, exit the remaining i.e. 70% from the counter.
4.3. Chart shows a SELL signal for Allahabad bank in Mid Jan. Since then it has fallen sharply.