New Intermed Uptrend!!

Discussion in 'Position Trading' started by Saint, Jul 9, 2005.

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  1. phoenix

    phoenix Member

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    Re: Abb

    ABB now up 18% from point of entry......hope some of my more silent friends benefitted from it.
     
  2. Saint

    Saint Banned

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    Hi pmathew,

    Your desire to learn is most appreciated.....I am not sure if I can explain it without drawing a chart,but to put it simply,in a weekly chart,if a stock takes out the previous week's high,we say that it is making ahigher high .If it takes out the previous week's low,we say it's making a lower low .
    A series of higher highs and then the stock turns downwards to produce a series of lower lows,we say that the stock has formed a pivot at the top.Then when the stock continues its upward journey forming higher highs and producing apivot that is lower than the previous pivot,we say that the stock is making alower pivot high .
    Taking out the pivot high is a continuation of the upward trend.Taking out the pivot low is a continuation of the downward trend.Making a lower pivot high smacks of a possibility in a change of trend.
    How do we know for sure?We never do,my friend,for nothing is sure in life and the markets.Therefore we have a Trading Plan,Risk n Money Management and stop losses.

    Educate yourself.....and Happy Trading!!

    Saint
     
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  3. pmathew

    pmathew New Member

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    Thank you sir for your reply.

    Regards

    Pmathew
     
  4. Saint

    Saint Banned

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    Hi Ravi,
    Frankly speaking,all except FDC,are not my type of stock that I would get into.Marson and Alka are below theRS 15 mark.....I stay way clear of those.FDC LTD is looking good,now making a higher pivot low....to confirm,better to wait for the 48 mark with a stop loss of 41.Share size as per your money mangement rules.

    Happy Trading!
    Saint
     
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  5. Saint

    Saint Banned

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    Hi everyone,
    Other than TISCO and the above,few more are making higher pivot lows on the weekly.....keep an eye on them :
    BANK OF RAJASTHAN
    PNB
    STERLITE INDS
    PRISM CEM--neat pullback on the monthly,matter of time for an up move!

    Happy Trading
    Saint
     
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  6. phoenix

    phoenix Member

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    Hi Saint,
    Great calls,man........took quite a few of them,already up quite a bit.Up Guj nre about 6%,up IVRCL 5%,up Jaiprakash Assos. 10%,up UTI bank 10%(took it from a post of yours from another thread).
    Thanks a lot!!!!! :)

    Phoenix
     
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  7. mohanlate

    mohanlate Member

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    Hi Saint,

    Thanks for the tips. I checked some of them and came out with these observations. Kindly send your feedback.

    1.ABB- The RSI and Stochastic oscillators show a strong overbought signal. But weekly candlestick chart show that bulls are still in control. Might cross 1550 tomorrow.
    2. BEML - on daily charts-MACD showing a positive divergence going positive. Nice pick up in volumes in July after the fall from 1st June. The bears came out big winners today after pushing the price from a high of 677 all the way to 650 signalling an increase in selling pressure. Weekly candlestick show a plausible bearish reversal of trend over the next week. Its still an attractive buy at 650 (P/E of 13 and 140% increase QoQ, 614% YoY) on strong fundamentals.
    3.SESA GOA - After a strong uptrend last few days, today the bears seem to come out strongly on bulls. A strong rally finally won by the bears. Look for possible alert tomorrow. (BTW, China's recent increase in iron demand by 25% has will push the quarter sales up significantly). Weekly candlestick is in a doji or spinning top pattern in haramai position - a potential bearish reversal.
    4.Guj NRE Coke - Breakout on 125 resistance on daily chart. Bulls coming out in good volumes this week (1.2 million today) as winners, after a good fight with bears yesterday which ended in bears winning marginally (it was a doji yesterday after the bears rule on the day before). There is some selling pressure the bulls will have to withstand tomorrow for a bullish outbreak. Weekly charts show bullish reversal.

    Thanks
     
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  8. ssnkumar

    ssnkumar Member

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    Hello Saint and also other experts,

    I have been visiting this website and reading your posts for quite sometime.
    Your tips are very helpful and I have consider few of them for my investment.

    But, I want to know about two more stocks which I invested sometime back.
    1. Hindustan Petroleum (bought at Rs. 345)
    2. Eicher Limited. (bought at Rs. 154)
    Both have hit lows after that. Even the volumes have come down drastically for Eicher. :mad:
    So, I want to know your recommendation on this.

    Please do advice.

    Regards,
    Narendra
     
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  9. Saint

    Saint Banned

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    Hi Narendra,
    Just for a mini clarification first.Am just a normal person who has been doing this for some time,not an expert.Had invested a lot of time and energy in educating myself.....many times stupidly reinvented the wheel when there were many books with a lot of experience that could've cut the time n energy spent by a third.In fact,I would go so far as to say that unlike in other fields,there's no expert in this one.....the day you think you are an expert,the market finds ways to humble you,and break you in two.
    From what little I know.......
    Hind Petroleum:At present still in sideways mode,could go down further...well could go up as well.Buying it at 345 was more a gamble than a trade.Personally,would not buy if not in......if already in,I would sell and put it in a hundred other places where I can make some money.In hoping and praying for it to come back to breakeven,precious time is lost to get into another beauty play.
    Eicher Ltd:The stop loss here should have been about 142.We take plays to get a profit,but a stop loss is important if the stock turns and goes the other way.......we then can accepta small loss and put the money at work somewhere else.In your case,Eicher has come down 6wks in arow,try to sell it off at the next rally....if it plunges further,get out by 121,and put your money to work somewhere else,and get back your losses.At least that's what I would do.

    Happy Trading
    Saint
     
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  10. ssnkumar

    ssnkumar Member

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    Thanks a lot for the valuable tips Saint.

    -Narendra
     
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