New Intermed Uptrend!!

pnbalaji · #**3301** 15th May 2006, 03:11 PM

Hi Chachi,

Sorry. My intension was not to confuse or gets confused as all the seniors at traderji are very much knowledgeable. But I would like to hear the views of all seniors so as to learn as much as possible.

Thanks,
Balaji.

rahulg77 · #**3302** 15th May 2006, 08:50 PM

Hi saint,

if a stock is on a pull back we willl buy if the new tick makes a higher high and higher low. now our buy point will be if tomm it goes above todays hi. If the correction continues will we keep reducing our buy point like this? what if the indicators turn negative or it goes below previous pivot low...do we wait for it to make an uptrend again or we still buy knowing that the pull back was cause of overall market and not stock specific. also we buy above the previous high during same trading day or it should close above the previous high.

Rgds

Rahul

Saint · #**3303** 16th May 2006, 10:23 AM

Quote:

Originally Posted by chachi

Hi saint,

Above reference is from old post-3167. Please give your views on MRO-TEK please. CMP is 98.
from the chart, support at 75. First target should be 125. Can it go further?

Regards
Chachi

Hi Chachi,
Still looks great,especially if it holds this area.Agree on the targets set.......but would be great if it can go to new highs before the end of the month.Else,more sideways to follow.

All the best!
Saint

Saint · #**3304** 16th May 2006, 10:33 AM

Quote:

Originally Posted by pnbalaji

Hi Saint,

Can you please tell me if TFCILTD has formed a double bottom?. Is it safe to enter now?.

Scrip - Tourism finance corporation of india
Code - TFCILTD.NS

Thanks,
Balaji.

Hi Balaji,

Tourism Finance:Formed a double top and then we got this downtrend.Now a higher pivot low on the daily and weekly,and yet.........feel there is too much resistance to plough through.Maybe if it can go back to the 18 levels and then go sideways,then probably an entry.For now,wait and watch......

All the best!
Saint

pnbalaji · #**3305** 16th May 2006, 10:35 AM

Quote:

Originally Posted by Saint

Hi Balaji,

Tourism Finance:Formed a double top and then we got this downtrend.Now a higher pivot low on the daily and weekly,and yet.........feel there is too much resistance to plough through.Maybe if it can go back to the 18 levels and then go sideways,then probably an entry.For now,wait and watch......

All the best!
Saint

Thanks Saint. Will keep on my watch list. But I do not prefer to enter into any low priced stocks during this correction period.

Thanks,
Balaji.

Saint · #**3306** 16th May 2006, 10:44 AM

Quote:

Originally Posted by pnbalaji

Thanks Saint. Will keep on my watch list. But I do not prefer to enter into any low priced stocks during this correction period.

Thanks,
Balaji.

Great going,Balaji..............for now,stand aside.This correction has more to go.Manage your longs that you hold on to as of now.No new longs for now unless you get a super juicy pattern that is not following the mkt.

Saint

pnbalaji · #**3307** 16th May 2006, 10:46 AM

Saint,

Have one more question. Holding DABUR India from 86 Rs onwards. Yesterday, it touched a high of 173 and now trading at 155. Can I hold it for long term or book profits at the current level?. Do you see any immediate downtrends with Dabur?.

Thanks,
Balaji.

Saint · #**3308** 16th May 2006, 12:22 PM

Quote:

Originally Posted by pnbalaji

Saint,

Have one more question. Holding DABUR India from 86 Rs onwards. Yesterday, it touched a high of 173 and now trading at 155. Can I hold it for long term or book profits at the current level?. Do you see any immediate downtrends with Dabur?.

Thanks,
Balaji.

Hi Balaji,
If it were me, I'd take some off the table here.

Great trade,my friend!
Saint

rahulg77 · #**3309** 16th May 2006, 01:10 PM

Quote:

Originally Posted by Saint

Manage your longs that you hold on to as of now.No new longs for now unless you get a super juicy pattern that is not following the mkt.

Saint

Hi Saint,

what exactly do u mean by manage your longs. Most of the scripts are hitting there stop loss as the market is falling. hardly any share that is not falling. what should the strategy be in this big correction. I am asking not in relation to new positions but in existing positions.

Rgds

Rahul

Saint · #**3310** 16th May 2006, 03:01 PM

Quote:

Originally Posted by rahulg77

Hi Saint,

what exactly do u mean by manage your longs. Most of the scripts are hitting there stop loss as the market is falling. hardly any share that is not falling. what should the strategy be in this big correction. I am asking not in relation to new positions but in existing positions.

Rgds

Rahul

Hi Rahul,
Managing longs means just as you described.Hold on so long as stops are holding.Get out once stopped.........as far as mkt is concerned,the ongoing intermediate uptrend is over.Long term uptrend is still on.As far as the intermed term is concerned,we are no more in an uptrend.Which does not mean we are in a downtrend as yet.We are now in area where the previous intermed uptrend is over and we await the next turn of events.

Stock wise,many are already in downtrends........basically stand aside till we get a clear cut change in trend back up.

For now,we wait.........

Saint

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