Today's Buy Levels

Raju · #**1891** 4th March 2008, 11:19 PM

Hello uasish ,
I am thankful to you for the chart .I have another query.As I mentioned in my earlier quote that I am very new I have many small queries ..
What Indicators to use ? (laxman R-is this laxman rekha-?..if u can guide me..
What is the "< NewInd " & the 3705 in brown ..how do we get this all in MS ?
Any special formula ..ofcourse if u want to share..Or if u can guide me where to find such good formulas books..I have so many ..but what to follow ..U AND SAINT would be the right persons to rely upon...
Thanking You,
Raju

Saint · #**1892** 4th March 2008, 11:43 PM

Quote:

Originally Posted by Raju

Hi Saint,
Thanks for the advice..Can u please give the target for SesaGoa, as i am confused as yesterday using Metatstock there was a formation of Bearish Harami.But i have followed the leader and have purchased at 3440..Please guide..
I have uploaded chart for SESAGOA .Please guide ..
I had to delet earlier chart due to size..

Thanking You in Advance..
Raju

Meant Sesa Goa as a fast 1-2 day trade.....if stopped,okay fine,we move on to other stuff!Have a look at the 60min charts if you have the intradays,.........you have a Wide Range Bar on high volume 2 days back towards the latter part of the day.

Then a mildish pullback in comparison to the WRB......now the human mind can see either a wedge,or a triangle,or a bull flag, as per the wiring of your brain........but importantly one expects a continuation of the breakout.

Had gone long at 3398......if you are playing the daily charts,then I guess you should be buying over the narrow range bar's high of yesterday with the stop sightly below the low of the Narrow range bar.

Never follow anyone........learn all you can about how to trade,and follow yourself.......a gap down tomorrow doesn't hurt me or my account,I'd jump on to something else and make it back and more,....but it could hurt you,my friend.

Saint

ghatotkatch · #**1893** 4th March 2008, 11:48 PM

Quote:

Originally Posted by Saint

Never follow anyone........learn all you can about how to trade,and follow yourself.......

a gap down tomorrow doesn't hurt me or my account,I'd jump on to something else and make it back and more,....but it could hurt you,my friend.

Saint

Sir,

It shows u er really a saint

.

I salute you.

Saint · #**1894** 4th March 2008, 11:56 PM

Quote:

Originally Posted by sillu_m

sorry its wrong as my amibroker is showing wrong chart. It appear as ascending triangle roughly also similar to falling wedge..
the EOD chart in sharekhan is showing the chart like this....line chart.

From your chart,think you were meaning rising wedge........which is bearish as far as longer term charts are concerned.Therefore playing only the very short time frame long.And if the fall does occur,well,then probably may turn out to be a yummy short.

Saint

Raju · #**1895** 5th March 2008, 12:09 AM

Hello Saint Sir,
I am very much thankful to you for the advice and the suggestion.Well I feel I have a very long way to go before I can make real money (good amount).I am trying to get average returns by playing swing trade .Ofcourse I do sometimes burn myself in Intraday using small amounts . Struggling for the best ..Again thanks for taking out time for my query.
Raju

Saint · #**1896** 5th March 2008, 12:12 AM

Quote:

Originally Posted by sillu_m

another view of SESAGOA...............

By combining these both charts above what should be the conclusion....Another breakout is possible again....Volume is high.
In candle stick chart it looks little different.
So what type of pattern is it?
Waiting for the explanation friend.

Regards.

Ah,beauty lies in the eyes of the beholder,isn't it,my friend....

The Bull sees a breakout,the Bear sees a breakdown........you,the trader,are not either a Bull or a Bear.You are not an analyst.......you don't have to be right.You simply have to trade........and if you make a wrong call,have the flexibility to go reverse gear.....

Yesterday's bar(3/3/08),whatever name you give it......buy the high of that bar with a stop at the low of the bar.Or short the low of that bar with a stop at the high........60min bias was to the long.Therefore bought the 5min high of today .....we got a nice move up.If we don't get a gap down ,probably expect it to head even higher.

For now,looking more like a rising wedge..........

Saint

Saint · #**1897** 5th March 2008, 12:31 AM

Quote:

Originally Posted by sillu_m

Another View of SESAGOA similarity.......Lots of option to think. So how should we see this in present scenario? Another fall???

Daily chart scenario.....rising wedge,usually bearish.Breakout over the resistance line of the rising wedge,doubly bullish......are we going to have a fall as per the risng wedge,or double blast beacuse of a failed wedge......No idea,but for now sticking with the ongoing trend till it changes.....

Saint

Saint · #**1898** 5th March 2008, 12:33 AM

Quote:

Originally Posted by uasish

sillu_m,

Until teacher is back i am sharing my views.................

Asish

lol asish......pulling my legs as usual.

Saint

Saint · #**1899** 5th March 2008, 12:35 AM

Quote:

Originally Posted by ghatotkatch

Sir,

It shows u er really a saint

.

I salute you.

Ah,no saint,my friend......just another person who trades the markets.

Saint

Saint · #**1900** 5th March 2008, 12:36 AM

Quote:

Originally Posted by Raju

Hello Saint Sir,
I am very much thankful to you for the advice and the suggestion.Well I feel I have a very long way to go before I can make real money (good amount).I am trying to get average returns by playing swing trade .Ofcourse I do sometimes burn myself in Intraday using small amounts . Struggling for the best ..Again thanks for taking out time for my query.
Raju

Good Luck and all the best,Raju!

Saint

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