Hi Everyone,
As promised I'll be reviewing my pics for this week.
First of all I must tell you that I love technical analysis and I have been involved in Markets since few years, but my interest in the subject and the profession has increased a lot since recession, so I have been trying to understand the functioning of the price movements for a while. I learnt a lot of lessons regarding money management and trading psychology on my way upto here.
Due to the lack of time, It's tough to come up with pics every day, but I will update the thread atleast thrice in a week.Hope everyone understands.
Regarding my pics:
1. I am very particular about the price targets and SL, believe me friends,I
put in a lot of time into calculating that , therefore please make sure that
anyone following the pics, takes STOP LOSS very seriously.
2. I am a big fan of TRAILING SL. Book profits at every step.
3. If in profit , carry the position next day.These pics are keeping 2-3 days
in mind. REMEMBER : IF IN PROFIT (which means if the price is going in the
direction of the price target, but not reached the target). It will reach the
target next day (most of the times).
4. I usually give pics in the morning after the market opens.
This week :
1. Federal bank : Buy above 261, SL 258, Target 266 (15/01/2010)
CMP end of day 15/01/2010 : 261.60, high 265.25
CMP end of day 18/01/2010 : 269.65, high 274
2. Powergrid : Buy above 119 , SL 117, Target 122 (15/01/2010)
CMP end of day 15/01/2010 : 118.65, high 121.45
CMP end of day 18/01/2010 : Remained above SL
CMP end of day 19/01/2010 : SL hit
3. Torrent pharma : buy above 409, SL 399, target 425 (18/01/2010)
CMP end of day 18/01/2010 : 415.50 , high 419
CMP end of day 19/01/2010 : 421.75 , high 434
CMP end of day 20/01/2010 : 425.05, high 429.90
Take care friends.