I can help you with stock chart reading

pnbalaji · #**201** 25th April 2006, 02:53 PM

Hi vvonteru,

Can you please provide your views on Tata chemicals?. Chart looks good to me.

Thanks,
Balaji.

Czar · #**202** 25th April 2006, 03:58 PM

Quote:

Originally Posted by vvonteru

siemens
--- U may have to short based on Fibonacci. For H&S, still need the right shoulder. Wait for the stock to go below the neck line and test (pull up) the neck line. I would rather (a higher probability trade) wait for it move below 5500 and then pull up. At that point, U will have people over head who bought and waiting to get out.

From the stock chart, I read it is losing momentum. It is as though it is climbing stairs and it is losing steam at the end of the stairs.

Hi, the right shoulder seems evident..

vvonteru · #**203** 25th April 2006, 05:51 PM

Quote:

Originally Posted by Czar

Hi, the right shoulder seems evident..

U are right. It is evident. The pattern is complete. It has come below the neck line. Now lets wait for it to test the neck line.

Alok, thanks. I should have checked it. I was looking at the charts, both FCharts and Online charts. They didn't correct for the split. I will check the news next time. Geeta, U should have checked it too. Because, that was unbelievable (and I was thinking how in the world can U avoid such a fall).

Nava Bharat Ferro
--- Is that a split? Any way, wait for an entry.

Sector Data
--- Thanks. I will get back to U on what I have, probably by the end of today.

Tata chemicals
--- Looks good to me. Has lot of noise. Currently, it has gone back to short term trading range. Consider this as noise, enter at 272 with a stop around 250. 50% profit = 272 + (272-250) = 294.

vizzie · #**204** 25th April 2006, 06:02 PM

Quote:

Originally Posted by vvonteru

U are right. It is evident. The pattern is complete. It has come below the neck line. Now lets wait for it to test the neck line.

Alok, thanks. I should have checked it. I was looking at the charts, both FCharts and Online charts. They didn't correct for the split. I will check the news next time. Geeta, U should have checked it too. Because, that was unbelievable (and I was thinking how in the world can U avoid such a fall).

Nava Bharat Ferro
--- Is that a split? Any way, wait for an entry.

Sector Data
--- Thanks. I will get back to U on what I have, probably by the end of today.

Hi vvonteru !!

nice chart of siemens there..
keep up the gud work

cheers
vizzie

rvgandhi · #**205** 25th April 2006, 06:45 PM

Quote:

Originally Posted by vvonteru

Nava Bharat Ferro
--- Is that a split? Any way, wait for an entry.

Dear Vvonteru, thanks for response..

Navabharat Ferro has turned around... I had entered in at around 75 levels last year, the stock went down to around 45 and is now trading with upper circuit at around 90+... Still have 40% of my investment in... had shed some of the load on the way down.

Wanted your views on a possible upside to this stock.. how far can it go up ?

Thanks in advance

rvgandhi · #**206** 25th April 2006, 07:20 PM

Dear Vvonteru... Can you give your views on Sona Steering (SonaSteer.ns)

Has just declared reasonably good results and a 1:1 bonus.. the stock has come down last few days and is near it's 39 day ema.

vvonteru · #**207** 25th April 2006, 07:44 PM

Quote:

Originally Posted by rvgandhi

Dear Vvonteru, thanks for response..

Navabharat Ferro has turned around... I had entered in at around 75 levels last year, the stock went down to around 45 and is now trading with upper circuit at around 90+... Still have 40% of my investment in... had shed some of the load on the way down.

Wanted your views on a possible upside to this stock.. how far can it go up ?

Thanks in advance

Good thing is that it crossed 90, the previous resistance with no effort. It has good momentum. U can only tell upside based on resistance with TA. Using fundamentals, U can compare P/E ratio with a similar stock and give the next target. I use TA. So, the upside is unlimited since there is no resistance above 90. We need to trail the stop. Trail the stop at 75. Typically, U don't want the stock to come back below 90 (check for noise. look for atleast 2 ticks or 1 decisive tick). If it does, take some partial profits and continue to trail the stop at 75 on the remaining ones.

I remember U asking me to start a new thread for FCharts. Don't they have an exclusive group for that? If I have to start this new thread, somebody should soon pay for it. Would it be Traderji?

vvonteru · #**208** 25th April 2006, 07:58 PM

Quote:

Originally Posted by rvgandhi

Dear Vvonteru... Can you give your views on Sona Steering (SonaSteer.ns)

Has just declared reasonably good results and a 1:1 bonus.. the stock has come down last few days and is near it's 39 day ema.

It has good chart. I came out from major trading range and has momentum. It is testing 50 day EMA. Stocks do that after a run up. I don't know how U want to play this. Normally, I would wait for it successfully test 50 day, pull up and pull back. I would enter above pull back. When I say Normally, in those cases, stocks take around 10 days to touch the 50 day EMA. In this case, its just 4 days. U can consider it just a pull back and enter at 93. Have stop below 50 EMA around 83.

Stock Entry: Above previous day's high (high + x) where x is based on stock price and volatility
U should always enter into a trade above previous day's high. Why, just look at all the stocks suggested yesterday. Look at Bajaj Auto. I suggested entry at 3000 above previous day's high (2989). Since, there was no up tick, our entry was not triggered. Using this technique, U can avoid some good trades that turn into bad ones. They call it, No Ticky No Tacky.

The downside to this is that U may enter high of the day. But, going so far, taking out previous day's high, the stock showed its potential of turning back from pull back.

I have attached sector data and titles file. How do we create sector data? What I did is:
1. Convert the database to Microsoft Database. (The software converts to old access database. If U have a newer version, convert to newer version first. The software does work with newer version of Microsoft Access.)
2. Write SQL to create 1st level Sector data.
3. Write SQL to create 2nd level Sector data.

Are U interested in doing the above and want SQL. Let me know.

mahmeds2000 · #**209** 25th April 2006, 09:21 PM

Quote:

Originally Posted by vvonteru

It has good chart. I came out from major trading range and has momentum. It is testing 50 day EMA. Stocks do that after a run up. I don't know how U want to play this. Normally, I would wait for it successfully test 50 day, pull up and pull back. I would enter above pull back. When I say Normally, in those cases, stocks take around 10 days to touch the 50 day EMA. In this case, its just 4 days. U can consider it just a pull back and enter at 93. Have stop below 50 EMA around 83.

Stock Entry: Above previous day's high (high + x) where x is based on stock price and volatility
U should always enter into a trade above previous day's high. Why, just look at all the stocks suggested yesterday. Look at Bajaj Auto. I suggested entry at 3000 above previous day's high (2989). Since, there was no up tick, our entry was not triggered. Using this technique, U can avoid some good trades that turn into bad ones. They call it, No Ticky No Tacky.

The downside to this is that U may enter high of the day. But, going so far, taking out previous day's high, the stock showed its potential of turning back from pull back.

I have attached sector data and titles file. How do we create sector data? What I did is:
1. Convert the database to Microsoft Database. (The software converts to old access database. If U have a newer version, convert to newer version first. The software does work with newer version of Microsoft Access.)
2. Write SQL to create 1st level Sector data.
3. Write SQL to create 2nd level Sector data.

Are U interested in doing the above and want SQL. Let me know.

hi vvonteru,
This is second time i am watching this thread now i find it very usefull.i really like the idea of stock entry thanks for this.
i and my friends need your view on the following stock
1. piramyd retail.
2. matrix lab.
3. tvs motor.
4. HOCL.
5. RNRL.
6. Ginni filament.
7. Marksans pharma.
8. 3i infotech.
9. Banswara syntax.
i am very very regratefull for such a long list but plz. give your view i need it no matter how long time you took for the reply i know the list is very long and tooks much time.
Very very Thanks in advance
rgrds
Ahmed

jntrade · #**210** 25th April 2006, 10:18 PM

Many thanks to u vvonteru!
I imported the sectors and company titles.
sectors are showing on top of the chart when selecting stocks.
Campany datails still not showing.(only comany codes in the top drop down list).
I am intrested and want SQL, but why we convert database to accesss format?
from fchart manual:-
"The advantage is that you can open this file with MS Access, or even write other programs which read price data from the same file. The disadvantage is speed - once the file grows to 15 mb or more (about 12 months data for 500 companies) it begins to slow down. If you import 10 years data for 2000 companies you'll be waiting forever for each chart to appear."

JN

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