Understanding Charts a Little Bit Confusion

Hello Every one,

I am new one here. First of all I appreciate the admin and the great people those who shared their tips and tricks, and guides the newbies.

as i am entering into the market, i want to study the charts of the particular company, But i don't understand how to read and analysis the charts. The main problem is where to enter and where to out from the market.

and another thing, where can i get the list of shares available, i have seen, only i found some companies. is there any websites providing the total list of companies in the nse and bse.


The last thing is, as i am a new one, what type of shares shall i buy?

Thanks and waiting for your reply,
Rocky

Please check BSE : http://www.bseindia.com/about/list_comp.asp


I am happy to know that I am not the only new guy here !! Even I am very very New to Trading. Sometimes, I also get confused by looking at the Charts that SAINT has fed us with.

But, I m sure, he is a real magician and his trick will work.
Anyways, try to go through this link - might help : http://marketlive.in/stock-market-tutorials/stocks-tutorial.php

Rocky, Welcome to the world of trading . Your confusion is exactly the same that I had few years ago.. so u are not alone. This is how we all get started here.

IMO, Where to buy/where to sell should not be the first question that u ask now. My suggestion will be to answer following questions
1) What the trend direction ? Up / down or sideway.
2) Where are the key price levels ? The levels where price has taken the turn on the chart.
3) At what price level, if visited by market, your view about trend will change ?

That shd give u the basic reading of the chart. You can load lots of indicator and get confused with them or don't add any indicator and just understand the price action. Read Saint's "Teach a man to fish pdf or thread.. and it will help you..
Then Practice Practice Practice.. on as many charts as possible..

Once u develop basic understand the market dynamics and price movement, you will be suprised how easy it becomes to decide where to buy and where to sell and more importantly when not to do anything but just stand on the side.

by-the-way - chart reading is only subsection of trading. There are more topics like system development, backtesting, money mgmt, risk mgmt and on top of it trading psychology. These topics put togather will give u solid footing for trading. Generally professionals put all these topics in their TRADING PLAN.
Yes, u can do trading without any of the above (like 90% of the people do), but they never make it to top 10% of traders who are winner here. I haven't scene any long term winner trader without above solid foundation..

Trading is not easy money dear. Like any other profession, it has its own challanges.

So, Make your choice.

Happy Learning and trading.

Thanks Aw10..

But again I have a Question. My friend helped me in adding stocks at www.google.com/finance

I have added few stocks of companies which has a less share value.. eg. 67.50 per share. Now when I add them it gives me two option for BSE and NSE.

I am a bit confused here with BSE and NSE stocks. I tried to add BSE Stocks such as MTNL or so...

My Question is : If I am interested in Daytrading, then which share I would go for ? Will it be BSE or NSE shares ? Though I am keeping myself busy in studying various charts and graphs nowadays.

Want to learn these BASICS ...!!

Thanks