I can help you with stock chart reading
- Thread starter vvonteru
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that was the price in 2001.. I really dont follow funds & their motives..Hello Balaji,
Value/valuation is relative, today we are back to the index levels that we scaled in Feb 2006. Its just 4 months is't it?
If a scrip is 30% below its all time high but 60% above its 52 weeks low, how do decide the fair value?
The Gr8 WB said "The investor should be happy to get lower prices on browses, are we happy to find lower prices.., to quote him again
"Markets are the place to transfer wealth from the impatient to the patient".
Regards
Sanjay
Value/valuation is relative, today we are back to the index levels that we scaled in Feb 2006. Its just 4 months is't it?
If a scrip is 30% below its all time high but 60% above its 52 weeks low, how do decide the fair value?
The Gr8 WB said "The investor should be happy to get lower prices on browses, are we happy to find lower prices.., to quote him again
"Markets are the place to transfer wealth from the impatient to the patient".
Regards
Sanjay
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As I said yesterday, market bounced. U can attribute this to oversold condition or double bottom or support at 200 day EMA. U will see lot of stocks in this pattern. For ideally conditions, the market will continue to go up from here. For me, I will wait for a pull back after it goes up. Obviously, I will be looking for change in trend.
About SCI, it has also put up a double bottom. Its plight will depend on the market, given its similar pattern. Lets have a stop = 120. But, our objective is not to save all the shares. If U see any favourable action next week, I advise taking partial shares out. Then, on the remaining shares, move the stop up, based on some support. Don't put it too close, to be taken out by noise, while moving the stop up.
About SCI, it has also put up a double bottom. Its plight will depend on the market, given its similar pattern. Lets have a stop = 120. But, our objective is not to save all the shares. If U see any favourable action next week, I advise taking partial shares out. Then, on the remaining shares, move the stop up, based on some support. Don't put it too close, to be taken out by noise, while moving the stop up.
1)gujrat ambuja at current level
Double bottom. I am currently not doing double bottom or double top. But, U can, if U want. Be carefull, since U are picking the bottom. Have a tight stop around 85. And, don't forget to take partial profits as it gives U. Don't look for making century as in cricket.
2)cesc
Same story. Double bottom.
3)orient paper.
Kind of double bottom. Had a reversal on Friday. Same story.
All the above have MACD divergence, giving them a buy.
Market Analysis:
Market is at a point of reflection. It can take it from here and move on up. Can go sideways there on, before going up. Given the double bottom and MACD divergence, U can trade if U want. But, have a tight stop below the double bottom. And be sure to take profits as it comes. Don't wait for the whole thing to happen.
There will be lot of stocks in this pattern. I don't have any scan right now for double bottom. But, most of the stocks display this pattern. So, I pass on writing any code to do the scan at this time.
I use 8, 50, 200 EMAs, Bollinger bands, MACD and Slow stocastic. I used to use Williams before instead of stocastic for overbought and oversold conditions information. I replaced that with Stocastic before, it does that as well as gives you buy or sell information based on the crossover.
What U can do is, start from these indicators. Change them according to your analysis. For example, 8 day short term EMA may not be right in all cases. If you look at sensex, it is more based on 10 or 15 day ema. So, play with the indicators. But, once you decide on them, have for some time before making a change. Don't change them every day to get buy or signals.
Double bottom. I am currently not doing double bottom or double top. But, U can, if U want. Be carefull, since U are picking the bottom. Have a tight stop around 85. And, don't forget to take partial profits as it gives U. Don't look for making century as in cricket.
2)cesc
Same story. Double bottom.
3)orient paper.
Kind of double bottom. Had a reversal on Friday. Same story.
All the above have MACD divergence, giving them a buy.
Market Analysis:
Market is at a point of reflection. It can take it from here and move on up. Can go sideways there on, before going up. Given the double bottom and MACD divergence, U can trade if U want. But, have a tight stop below the double bottom. And be sure to take profits as it comes. Don't wait for the whole thing to happen.
There will be lot of stocks in this pattern. I don't have any scan right now for double bottom. But, most of the stocks display this pattern. So, I pass on writing any code to do the scan at this time.
I use 8, 50, 200 EMAs, Bollinger bands, MACD and Slow stocastic. I used to use Williams before instead of stocastic for overbought and oversold conditions information. I replaced that with Stocastic before, it does that as well as gives you buy or sell information based on the crossover.
What U can do is, start from these indicators. Change them according to your analysis. For example, 8 day short term EMA may not be right in all cases. If you look at sensex, it is more based on 10 or 15 day ema. So, play with the indicators. But, once you decide on them, have for some time before making a change. Don't change them every day to get buy or signals.
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