I can help you with stock chart reading

[bharatk8]

hi...vvonteru....thanx for analysis of archies....pl. rank infosys,vsnl,fed. bank, orchid ....according to rising potential for short term (one week)

 

[bharatk8]

hi...vvonteru....thanx for analysis of archies....pl. rank infosys,vsnl,fed. bank, orchid ....according to rising potential for short term (one week),,,,in ur own style

 

[alok]

Great work Vvolteru..

Can you please read charts of Pidilite and Patni computers for me...

Thanks.

 

[mahmeds2000]

Hi sant,

Just recently i have joit this site and i found this is the best site for the traders but i am littile worry that how u all people r giving the advice free becz. i have paid for the recommendation and that reco. is not worked many times.
i want some advice from u becz. i find u best among the all . i want to know ur views about my portfolio. following r the list of my portfolio.
1. skf india
2. PRISM CEMENTS LTD
3. w s industry
4. moschip
5. KANISHK STEEL INDUST
6. marksuns pharma
7. gujrat industrial ( i have got 25 % loss holidin it from last 7 month)
8. banswara syntax
9. ginni filament
thanks

 

[vvonteru]

My take home from the stocks below is: Avoid low priced stocks or low volume stocks. Their price can be easily manipulated by Market Makers (code name MM - ever heard of them?).

rank - I have not found anything interesting (vsnl is ok) from the list you have given for immediate trading.

vsnl
- look for pull back and 450 for support. When then happens, enter above the pull back.

orchid
There is resistance at 375 from Sep 05. I would wait for it cross that point.

infosys
- Cannot enter now. Let it take out 3100 resistance like vsnl did. Then wait for pull back (should not go below 3100 technically) to enter.

fed. bank
- Avoid. Going nowhere from last 1 year (between 150 and 200). Before that, it gapped from 400 to 150 on 2004 Nov.


Pidilite and Patni computers (my id is v v o n t e r u.)

Pidilite - Hopefull you didn't buy it before it dropped from 750 to 100. This is cat or dog right now. The reason I say that is, it is a different kind of play when you trade them. Basically, you are picking the bottom of the chart. Risk is high, so as the reward. But, you have to ask yourself the question. Is there momentum with these stocks compared to stocks that are making 52 week high like nifty with no resistence upside. The stock has huge/abundant/other synonyms resistance on the top just 9 months back. Those guys who bought at 750 are waiting for the stock to come up to sell. Any nice rally will see a sell off in this stock. On the positive side, chart is clean for last 6 months

Patni computers - Avoid. Not a momentum stock.

1. skf india - Not a momentum stock. But, 50 EMA support is holding constantly. If you are in it, trail the stop (275 looks a good point).
2. PRISM CEMENTS LTD - Just came out of resistance at 28.60. Avoid low priced stocks in future.
3. w s industry - I could only find data between Jan00 and Feb00. Does this company still exist?
4. moschip - Bad chart. You are wasting my time. On a 1 to 10 scale, these stocks are 0.
5. KANISHK STEEL INDUST - Ditto
6. marksuns pharma - I don't know what to say
7. gujrat industrial ( i have got 25 % loss holidin it from last 7 month) - What are you waiting for? If a bull market cannot lift this stock, are you waiting for selloff?
8. banswara syntax - I have nothing to say
9. ginni filament - Oh God

You observe something from the above. Its not the problem with the stocks. Its a problem with you. Please stop trading. Go back to basis. Read books. Come back later. You can always make money. But, at least do your homework. Know what you are doing. Winning or Losing is not the question. They are part of the risk of trading. But, if you follow certain methodology, mentally prepared, follow specific money management, you have chance of reducing losses versus winnings. Even if you lose, at least you can take home that you gave your best shot. What I mean to say is, You Will Not Feel Like a Loser.

Please refer to this thread earlier for info on books, methodology and money management.

 

[alok]

Thanks Vvonteru for the analysis...

I entered pidilite at 74 Rs.. about 2 months earlier..

Can you please give your inputs for Selan Exploration?

Thanks again.

 

[aca_trader]

Pull back,

Look for a pull back for atleast 2 days. You can be conservative and wait for more than 2 days. I know people who enter after 1 day pull back. I don't.

Is 2 day pull back enough? How do I know if it is a pull back versus sell off versus no change. It all depends. Read further........................

Thanks a lot for such a nice elaboration.

Best Regards,

 

[aca_trader]

fed. bank
- Avoid. Going nowhere from last 1 year (between 150 and 200). Before that, it gapped from 400 to 150 on 2004 Nov.

Pidilite
Pidilite - Hopefull you didn't buy it before it dropped from 750 to 100. This is cat or dog right now. The reason I say that is, it is a different kind of play when you trade them. Basically, you are picking the bottom of the chart. Risk is high, so as the reward. But, you have to ask yourself the question. Is there momentum with these stocks compared to stocks that are making 52 week high like nifty with no resistence upside. The stock has huge/abundant/other synonyms resistance on the top just 9 months back. Those guys who bought at 750 are waiting for the stock to come up to sell. Any nice rally will see a sell off in this stock. On the positive side, chart is clean for last 6 months.

Hi!

Just for information purpose, The gap in Federal Bank is due to a 2:1 bonus issue on 30/11/2004 while Pidilite went for a stock spilt in the ratio of 10:1 causing a huge gap of 90%.

Are you using NSE charts which does not adjust prices for such events?

Best Regards,

 

[gandharvashu]

Hi! vvonteru

I just read that you told other people that don't buy stocks that are stuck in a trading range. I think it is point of thinking. You see when generally funds buy from market they want stocks to not do much, that is they are in trading range and I think it is the trading range where accumulation/distribution takes place. I think as you are swing trader, you are right in saying, but you should make sure that other person is a trader or investor. Your comments are appreciated

 

[vvonteru]

Thanks for the info. Based on the split info, I really like Pidilite. As I said earlier, it has a good chart.

fed. bank
Split doesn't make a difference. Stay out.

Selan Exploration
Compare the chart of this stock with Pidilite. You have the answer. Avoid.

Trader vs Investor.
I have mentioned earlier in the thread that I am (swing) trader. But, since you said, I will attach a disclaimer in future. If you read earlier in the thread, I have noted that trading range is not bad. Stocks do that while they go up. If you have already in the stock, it is ok to stay with a trailing stop. I suggested not to enter before it comes out of the trading range. You see couple of stocks discussed above. They have been stuck in trading range for 6 months to 1 year. What a waste of money's time. Rather, in this bull market, you need to find stocks like Pidilite which are nicely trending just like the market.