Saint's Thread followers - Identified UpTrends/ DownTrends

Discussion in 'Technical Analysis' started by satish_goteti, Jul 1, 2006.

  1. satish_goteti

    satish_goteti Member

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    Dear friends,

    Being a follower of Saint's thread "Teach a man to Fish", I am creating this thread to all other followers of that great thread to identify stocks which are in up-trend/down-trend and possibly post some charts, so that people can look at these charts and get more information on identifying trends and getting into technical trading.

    Request all other followers to post in this thread if they have idenfitied any stocks in an up-trend or in a down-trend. If someone feels that this is contrary to Saint's thoughts of "Teaching to fish" and I am trying to "Fishing the fish" that is definetely not my intention.

    Alternatively if someone can post a website where the stock's trend is identified and made available, it will be a good contribution.

    Your views are welcome...

    Regards
    Satish
     
  2. Terahertz

    Terahertz Member

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    Hello Satish,
    Good initiative.
    This is not exactly a site which identifies uptrends and downtrends but it gives one chart daily which has a particular pattern or if there is a breakout in any pattern. Go through this site yourself.
    http://www.fi-advisor.com

    Thanks
    Satish...
     
    Last edited: Jul 1, 2006
  3. Agilent

    Agilent Member

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    I agree... this is a good initiative

    But I must point out that considering this thread is likely to attract a lot of eyeballs, it may be a good idea to provide some background concepts behind Primary/Secondary/minor trends. This is one of the basic pillars of the Dow theory,

    After all, a scrip could be 'reacting' (i.e. be in a minor or secondary downtrend) within a bigger (primary) uptrend. Likewise, it could be 'rallying' (i.e. a minor or secondary uptrend) within a longer, primary downtrend. Knowledge of this 'big picture' will especially help budding medium/long term traders who may otherwise tend to cash out prematurely, or, worse, misinterpret short term trends and end up with unnecessary losses.


    Good luck !
    AGILENT
     
  4. satish_goteti

    satish_goteti Member

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    Thanks Terahertz. I would reserve Hi Satish, Thanks Satish for the next time:D
     
  5. satish_goteti

    satish_goteti Member

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    Agilent,

    So very rightly pointed out for novice traders like me. Point taken and hope others who are posting into this thread with their identified trends will stick to giving this big picture. Atleast I will try and yes as you rightly pointed, this will help us not to short/take position prematurely.

    Need more of your and Saint's kind's to help us folks make some bread in this cruel world ??:D

    Brazil is almost loosing out when I am typing this message :( :mad: :(

    Regards
    Satish
     
  6. satish_goteti

    satish_goteti Member

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    Dear all
    Here is my first identified stock and trend analysis along with this. If I am completely absurd or wrong, please feel free to let me know your intentions to shoot me, I will send you my address via PM.:D

    My first is KRBL Limited.

    Basics : Stable and consistent growth. Check out the weekly charts.

    Other Points : Good to moderate volumes last 5 weeks.

    Weekly Trend : Not clear. Downtrend is in Question. Good Rally towards the 128 areas. Up trend confirmed if rally breakout on the resistance at 150 levels. Uptrend here can be identified if a new pivot low is made above the current pivot low at 78.83. Am I right so far? Saint if you are reading this please don't kill me if I am so gross.

    Daily Trend : UpTrend. Higher pivot lows and highs clearly visible. There are two buying opportunities identified using Green Arrows. The first one because it has taken out the previous bar's high. The second opportunity is a repetition of the previous opportunity except that the bullish candle has taken out the previous high in the first instance. Please can someone comment on my trendlines/support and resistance and let me know if my support and resistance identification is correct and also my trendlines.

    Trading Calls : As a Swing trader you could possibly take position at the current buying opportunity, since the weekly chart has not confirmed a uptrend. If we want to take a meduim position you need to wait till the weekly chart shows a uptrend or a breakout at the resistance.

    I am ready for your comments...:D

    France has won and Brazil lost :mad:

    Regards
    Satish
     

    Attached Files:

    Last edited: Jul 4, 2006

  7. Agilent

    Agilent Member

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    Excuse me Satish... but dont u think the recent fall from the 52 week high (240) to the 52 week low (80)... all in a matter of weeks ... is a v steep fall, and much steeper than that of Sensex or Nifty.

    Or am I missing something ??

    AGILENT
     
    Last edited: Jul 2, 2006
  8. Terahertz

    Terahertz Member

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    Rightly said Mr.Agilent,
    It is very important to identify the big picture. Knowledge of the trends is essential and Saint has already posted about trends in his post.."teach a man.......".

    Thanks
    Satish...
     
  9. Agilent

    Agilent Member

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    Satish

    A good start , without doubt.

    I would strongly recommend to all readers, while deciding on the basis of TA, to 'keep an eye' also on the fundamentals of the scrip before investing (Of course Day traders/swing traders need not bother too much on this score)

    At the bare minimum, these issues need to be known
    - what the co does
    - who owns it
    - what are the recent few yrs financials
    - what is the outlook like (now this is the most difficult to get to know BEFORE the insiders... and that's why its often too late to get into OR out of a stock at the right price)

    To help you out with KRBL, I have attached a chart on the recent financials (The co exports rice to Saudi, by the way)

    Am sure this will be of help, though financials more recent than QE12/05 are not known (not to me at least) ... In case u know, do post them ... am sure they will be of immense use and may explain the recent chart patterns (after all.. we all know that its the fundamentals which drive and mould the technicals)

    Hope this helps ... I will be happy to provide such FA perspective whenever you need

    Good luck

    AGILENT
    PS By the way, any idea why the scrip crashed so badly recently ? (see my post a little earlier today)
     
  10. AJAY

    AJAY Active Member

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    Hi Satish,

    If a fall from the highs of around 243 to the lows of 77.6 in about 1.5 month's time is considered as insignificant, I'm helpless.

    You might have picked up a good stock. I'm not commenting on that. But whatever you post here should be as much correct as possible. Never ignore the facts.

    All the very best

    AJAY
     
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