Sridhar's Trading Dairy

[Vijay11]

Could not trade today since, I could not get a hang on the direction of the market. The stock increased by more than 2 rupees intra day all major buying happened in just one minute for the whole day. All the gains were given up in the last 45 minutes since there was no real buying and it was all intra-day traders who propped up the share price and exited. On the other hand, Elxsi became weak as guessed in the morning. But, still, I can't trade Elxsi. I do not know how to handle it.

Hi,

Long time, No news!
Hope everything is going well.

Happy trading.
Vijay

 

[sridhga]

Hi I could not trade this week due to my other professional commitments. Will post once I resume trading.

 

[sridhga]

BEL is in the third leg of a triple bottom formation on daily charts. So if it recovers on Monday it is on a long term upward trip. On monthly charts this month may do a morning star. This is just an observation. Again I may be wrong. I am not a good analyst. I am just an intraday trader trading on small amounts trying to keep my trading career afloat. I may or even may not trade next week.

In the week gone by, BEL just followed Nifty. No large noticeable buying. The stock was steadily moving up on the minute charts only to lose most of it in just one minute on steep falls. This happened through out last week. Speculators appear to be clueless.


On Friday US markets closed in the red. How would Asia do on Monday? Will BEL resume its upward march or will it be clueless waiting for inspiration like last week? Any major long term buyer planning to suck up the floating shares? Just one more such buying will put the stock back on to upward path. Can we expect such moves next week? My gut feeling says yes. I may be wrong. So lets see. Any buying on Monday could be a good trigger for BEL to confirm the closure of triple bottom.

 

[sridhga]

Elxsi made new high in the morning. But in the last hour on friday has given up its gains. Speculators exited before the weekend set in.

 

[arunkarthik]

BEL is in the third leg of a triple bottom formation on daily charts. So if it recovers on Monday it is on a long term upward trip. On monthly charts this month may do a morning star. This is just an observation. Again I may be wrong. I am not a good analyst. I am just an intraday trader trading on small amounts trying to keep my trading career afloat. I may or even may not trade next week.

In the week gone by, BEL just followed Nifty. No large noticeable buying. The stock was steadily moving up on the minute charts only to lose most of it in just one minute on steep falls. This happened through out last week. Speculators appear to be clueless.


On Friday US markets closed in the red. How would Asia do on Monday? Will BEL resume its upward march or will it be clueless waiting for inspiration like last week? Any major long term buyer planning to suck up the floating shares? Just one more such buying will put the stock back on to upward path. Can we expect such moves next week? My gut feeling says yes. I may be wrong. So lets see. Any buying on Monday could be a good trigger for BEL to confirm the closure of triple bottom.

Upon clearing 117, it looks to have a good run ahead. Daily and weekly charts confirm the same. Even I’m getting to tech analysis for the last 2-3 months now, so there’s a good possibility that I might have overseen something very obvious. Someone correct me if I’m wrong. Thanks.




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[arunkarthik]

BEL is in the third leg of a triple bottom formation on daily charts. So if it recovers on Monday it is on a long term upward trip. On monthly charts this month may do a morning star. This is just an observation. Again I may be wrong. I am not a good analyst. I am just an intraday trader trading on small amounts trying to keep my trading career afloat. I may or even may not trade next week.

In the week gone by, BEL just followed Nifty. No large noticeable buying. The stock was steadily moving up on the minute charts only to lose most of it in just one minute on steep falls. This happened through out last week. Speculators appear to be clueless.


On Friday US markets closed in the red. How would Asia do on Monday? Will BEL resume its upward march or will it be clueless waiting for inspiration like last week? Any major long term buyer planning to suck up the floating shares? Just one more such buying will put the stock back on to upward path. Can we expect such moves next week? My gut feeling says yes. I may be wrong. So lets see. Any buying on Monday could be a good trigger for BEL to confirm the closure of triple bottom.

Upon clearing 117, it looks to have a good run ahead. Daily and weekly charts confirm the same. Even I’m getting to tech analysis for the last 2-3 months now, so there’s a good possibility that I might have overseen something very obvious. Someone correct me if I’m wrong. Thanks.




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The real upmove would start only when it clears 122-125 zone and closes above 126. That would be the actual long term trend reversal.

Even I’m anxiously waiting for it.


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[pannet1]

i could see the left side of the chart is have a Higher Low, which means the Low we made just now is Lower Low. In a perfect world we are just going down and down. But thats a larger picture ... We could still catch the retracement up ... lets say about 50% .... May be that's all you are looking at.

Then again TA is a fallacy ... and this market ... is it worth ... overnight risk.

 

[sridhga]

I agree with you on TA part. I am also not into holding positions overnight. I am just recording my thoughts in this thread. As the week and month progress, I get a chance to review my past observations. I am not a good analyst, but am interested in understanding the underlying currents that possibly move BEL in the coming days. Again, my guesses could be right or wrong. I am just testing them.

 

[sridhga]

Another clueless week started for BEL. Nifty is falling So BEL is falling. Lets check at 10 : 00 am.

 

[sridhga]

Another clueless week started for BEL. Nifty is falling So BEL is falling. Lets check at 10 : 00 am.