These scripts will become Oversold tomorrow.

Linus · #11 20th February 2007, 12:49 PM

Scrips are crisp so i feel like writing a script but it pricks so better build brics! hahaha

Bullet · #12 20th February 2007, 06:23 PM

Quote:

Originally Posted by ping_manoj

These scripts are going to become OverSold on the RSI tomorrow:

Suzlon will become OverSold if it reached 1019.
AnsalInfra will become OverSold if it reached 654.
ZenithComp will become OverSold if it reached 70.-The parabolic SAR changed to "BUY" indication for ZenithComp today.

Regards

MANOJ T

Well the train is out of track,to bring it back.

Manoj do you mean to buy these scrip which is OverSold according to RSI

What are its target & time period?

Can you explain it in detail?

ping_manoj · #13 20th February 2007, 07:14 PM

Quote:

Originally Posted by Bullet

Well the train is out of track,to bring it back.

Manoj do you mean to buy these scrip which is OverSold according to RSI

What are its target & time period?

Can you explain it in detail?

The following post is my personal view and may differ from other members.

Please refer to this page: http://www.twonahalf.com/rsiintro.htm
There is a screen dump here. I have traded BHEL based on the indications of SOT, on the day where it is marked on that chart. One day ahead, the SOT had predicted a price point where BHEL would become oversold (2214.00), I bought the stock when it was trading at 2205, the stock went down to close at 2144. But from the next day onwards started going UP. I made some 5% in the stock in 5 days flat.

Why did I rely on the RSI levels? Firstly RSI is a very strong indicator and works very well for liquid stocks, secondly BHEL is an Index Stock. An index stock does not become oversold very soon, if it does, it doesn't remain at those levels very long, unless the story is absolutely BAD. Suzlon is a Nifty stock too, so one can take a call...

Once the people would have seen their EOD data at the end of the session, they would have realized that BHEL has become oversold, so buying was going to come in.
What was my advantage? My advantage was the SOT, which told me in advance at what price the stock was becoming oversold.

Having said that, there is NO Guarantee that the stock will not further go DOWN. But that's the game of risk to reward, and I can take a risk in a NIFTY stock. I would have definitely not considered such a buy in the month of MAY when the carnage took place, but this time around it was OK because the overall market was UP.

For a safter trade, one would want to wait for tomorrow and see the volume action. If the volumes pickup, then one can take a position.

Regards

MANOJ T

ping_manoj · #14 21st February 2007, 11:46 AM

Quote:

Originally Posted by ping_manoj

The following post is my personal view and may differ from other members.

Please refer to this page: http://www.twonahalf.com/rsiintro.htm
There is a screen dump here. I have traded BHEL based on the indications of SOT, on the day where it is marked on that chart. One day ahead, the SOT had predicted a price point where BHEL would become oversold (2214.00), I bought the stock when it was trading at 2205, the stock went down to close at 2144. But from the next day onwards started going UP. I made some 5% in the stock in 5 days flat.

Why did I rely on the RSI levels? Firstly RSI is a very strong indicator and works very well for liquid stocks, secondly BHEL is an Index Stock. An index stock does not become oversold very soon, if it does, it doesn't remain at those levels very long, unless the story is absolutely BAD. Suzlon is a Nifty stock too, so one can take a call...

Once the people would have seen their EOD data at the end of the session, they would have realized that BHEL has become oversold, so buying was going to come in.
What was my advantage? My advantage was the SOT, which told me in advance at what price the stock was becoming oversold.

Having said that, there is NO Guarantee that the stock will not further go DOWN. But that's the game of risk to reward, and I can take a risk in a NIFTY stock. I would have definitely not considered such a buy in the month of MAY when the carnage took place, but this time around it was OK because the overall market was UP.

For a safter trade, one would want to wait for tomorrow and see the volume action. If the volumes pickup, then one can take a position.

Regards

MANOJ T

SUZLON up 4% did anyone by it???

Czar · #15 21st February 2007, 06:20 PM

good call, darn i read it just today...

rangarajan · #16 21st February 2007, 09:39 PM

profitable trade in can bank
ranga

lamerider2 · #17 22nd February 2007, 10:15 AM

hi all
i am new here
please help me in understanding some terms;
RSI, EOD, SOT
also what does it mean by,"stock will become oversold"
and how does it affect the stock price??
plz help me with these...

thanks..

ping_manoj · #18 22nd February 2007, 01:26 PM

Quote:

Originally Posted by lamerider2

hi all
i am new here
please help me in understanding some terms;
RSI, EOD, SOT
also what does it mean by,"stock will become oversold"
and how does it affect the stock price??
plz help me with these...

thanks..

RSI = Relative Strength Index, its a technical indicator. Basically a mathimatical formula based on daily closing prices to find 1 the trend of a stock and 2 weather the trend is about to end. There are many many such indicators like MACD, stocastic oscillator, Monery flow index(MFI), etc etc.... many. You can learn about RSI here ->> http://www.twonahalf.com/RSIIntro.htm
Explore google for more technical indicators.

EOD = End Of Day data.

SOT = Speed Of Trend, again a technical indicator, developed by TwoNaHalf.cOm. This is used to find weather a stock is trending and if trending what are the targets on either side (down or up). Learn more about SOT here --> http://www.twonahalf.com/aboutsot.htm

I hope that answers your question.

Regards

MANOJ T

alpha1 · #19 22nd February 2007, 02:34 PM

%R and Stochastic work better for me than RSI

lamerider2 · #20 22nd February 2007, 02:54 PM

thanks a lot "ping_manoj"
also if u can answer my other question:
what does it mean by,"stock will become oversold"
and how does it affect the stock price??

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