New Intermed Uptrend!!

Satyen · #**4201** 14th May 2008, 10:36 AM

Quote:

Originally Posted by milkyblack

Why to restrict the high?

Regards

Sorry could not get you ........

Stop still holding m still holding my longs lets see if it will hit i will be out

Regards
Satya

Saint · #**4202** 14th May 2008, 01:05 PM

One stock that recently started out on a primary uptrend was Ranbaxy as discussed before.

Another one that triggered a change of trend to the Up is HERO HONDA....In at 804.Stops a bit below 745..........Entry if noticed before should have been above 785.A bit late in the entry.Will look to add over previous pivot highs as always.Rest all same.

And as always exit on a break of previous pivot lows or low of 2 candles back if vertical.

Saint

rakeshluthra430 · #**4203** 14th May 2008, 01:40 PM

Quote:

Originally Posted by Saint

Another one that triggered a change of trend to the Up is HERO HONDA....In at 804.Stops a bit below 745..........Entry if noticed before should have been above 785.

Saint

Sorry.....not getting you here.... Current pivot low on Daily at 790 (yesterday) and before that pivot low around 730 area..... how come 745 is derived?
Secondly... y'day high was 814..so how come buy above 785 (unless taken on 60 min charts).

So it shd be buy above 814 with stop below 788. Am I seriously missing something. Kindly educate at your convenience.

Thanks aton for your time.

Saint · #**4204** 14th May 2008, 02:09 PM

Nope,Rakesh.........take a look at HERO HONDA on the monthly,we have a downtrend and then a sideways move till last month.You are not wrong if you anticipated an uptrend and moved into HERO in September,but more or less sideways from then.

So we have a monthly in sideways trend,now take a look at the weekly chart.We are trying to catch the intermed uptrend in HERO HONDA........Both monthly and weekly triggerring an uptrend above previous pivot high on the weekly......ie 785.

Of course,we didn't catch it then..........therefore moving in as close to it as possible.Don't forget....This is an intermed uptrend trade.

Stops at 725 previous pivot low of the HERO HONDA weekly.....

Saint

Saint · #**4205** 14th May 2008, 02:10 PM

ouch.....sorry about the 745.Typo!

Stops at 725.......

Saint

rakeshluthra430 · #**4206** 14th May 2008, 02:18 PM

Thanks a lot....got it now. I was concentrating only on the daily...missed the monthly bit.

rakeshluthra430 · #**4207** 14th May 2008, 02:23 PM

Quote:

Originally Posted by Saint

ouch.....sorry about the 745.Typo

Stops at 725.......

Saint

Thats OK... believe me I had looked at the monthly before posting my query, but cud not figure out 745..hence the confusion.

But its Ok..... could not have got the words of wisdom from you had i not posted it.

Tdarer · #**4208** 14th May 2008, 08:33 PM

Hi Saint,

what are your views on ACC? It seems to be in downtrend. Any guesses from you, based on your technical analysis, regarding the level to which it can fall before it resumes its upward journey and expected time frame for the same?

Also, in other thread, sudoku seems to be much worried about the may-hem in second half of may. do you see anything like that in offing?

I am asking you because I believe both of you ( you and sudoku) have 'black eyes', if not black tongue. (trust me, it's a compliment)

Thanks.

Saint · #**4209** 15th May 2008, 03:47 AM

Quote:

Originally Posted by Tdarer

Hi Saint,

what are your views on ACC?

ACC is in a downtrend on all time frames.......including the Primary Trend.

Quote:

It seems to be in downtrend.

Yep.....

Quote:

Any guesses from you, based on your technical analysis, regarding the level to which it can fall before it resumes its upward journey and expected time frame for the same?

Hmmm.....Guessing

I basically trade changes in trends.......and try to get a chunk of that trade.So prediction,guesswork play no role.....Not interested in how long ACC will fall,only interested in when trends change.

Timeframe??

.........May last weeks,maybe months, but importantly am not bothered,and neither should you,my friend.Downtrends last till they change to uptrends,and that reversal will happen when it does.Your job is to observe and detect that reversal and profit from that change in trend

Quote:

Also, in other thread, sudoku seems to be much worried about the may-hem in second half of may. do you see anything like that in offing?

Mayhem may happen,may not happen..........once you know the art of trend change detection,you would reverse and short the mayhem.Looking fwd to it if we do get one.Equally happy with a euphoric move up as well.

Quote:

I am asking you because I believe both of you ( you and sudoku) have 'black eyes', if not black tongue. (trust me, it's a compliment)

Thanks.

So long as you stick with the trend and observe your disciplines,the market will not give you a black eye.............Advice from my end: Don't worry abt the future.In the now,it does not exist.Trade the present,go with the flow,and deal with the future when it becomes the present.

All the best!
Saint

Tdarer · #**4210** 15th May 2008, 08:23 AM

Thanks saint for your in-depth reply

What you said is very right but to follow this, requires lot of understanding of markets, of technicals and good software and lots of data etc.

I bought ACC at around 700 as I felt it's available at good price even though I noticed it's falling and falling with each passing day... may do some averaging at around every 10% fall from my buying price till it reaches zero or reverses its trend. Tough time for cement sector at least till the inflation comes down. The bad thing is these stocks sometimes reverse their trend so quickly, sometimes in few hours or days, that only professional traders using advanced softwares notices it and aam-aadmi is left at a loss.

Just wondering if all the people will start waiting for downtrend to end and no one will come to buy, then perhaps it will continue its downtrend forever or will there be a time when a buffet-like will see that it has taken enough beating, learnt his lessons and now lets buy it... shall wait and wait and see and see.

Anyway, I will learn more about trend change detection etc as I am new to all this.. not much worried about ACC but do not know whether I should be bullish on cement sector right now with around 1 year perspective as many cements stocks are at their 52 w lows where they did not reach even after great falls of jan, feb and march.

Thanks.

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