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New Intermed Uptrend!!

Discuss New Intermed Uptrend!! at the Position Trading Stocks within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by jamit_05 Hi Saint, In the above post Ispat seemed "especially nice". Pls ...


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  #4281  
Old 28th May 2008, 10:41 AM
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Default Re: New Intermed Uptrend!!
Quote:
Originally Posted by jamit_05 View Post
Hi Saint,

In the above post Ispat seemed "especially nice". Pls explain.

The stock is in daily down trend after the Red Horizontal line in the attached chart. However, the bar of 22nd May had record volumes and was a strong up bar. Is that one single bar convincing enough?

Amit.
never went over 38..........nice weekly downtrend and then a daily uptrend that is still not a weekly uptrend as of yet which happens over 37.4.

We have that bar on the weekly.....a bull candle on 17th Apr week and another bullish candle followed by 3-4 sideways candles........Now that makes it especially nice!

If you had 2 stocks,both were in downtrends,both put up a daily uptrend that shows up as 1 or 2 bullish candles on the weekly.Stock A gives one sideways to mildly bearish candles after that and threatens to take new highs......Nice!Stock B gives more sideaways candles and then threatens to take out new highs.....Especially nice!!

Saint
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  #4282  
Old 28th May 2008, 10:42 AM
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Default Re: Is HLL a good buy
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Originally Posted by Saint View Post
Excellent,Rakesh......

Saint
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  #4283  
Old 28th May 2008, 11:21 AM
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Default Re: Is HLL a good buy
Quote:
Originally Posted by rakeshluthra430 View Post
As an example... look at daily charts of TATA CHEM, SESA GOA, MAH LIFESPACE.
Now, compare these charts with those of AIA ENGG, EKC....
Have a look at the chart of EKC attached. I have tried to mark the areas of problem using blue circles. Are these the problem areas for which we say that the graph is ugly. Otherwise if you see for the last 2 months we can draw a smooth trendline (orange line)

Please comment.

Sachin
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  #4284  
Old 28th May 2008, 11:26 AM
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Default Re: Is HLL a good buy
Quote:
Originally Posted by sachin_jain3 View Post
Have a look at the chart of EKC attached. I have tried to mark the areas of problem using blue circles. Are these the problem areas for which we say that the graph is ugly. Otherwise if you see for the last 2 months we can draw a smooth trendline (orange line)

Please comment.

Sachin
Well done Sachin. Yes, these are really the problem areas where your SL is likely to be hit due to too much noise.
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  #4285  
Old 28th May 2008, 11:51 AM
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Default Re: Is HLL a good buy
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Originally Posted by djsinha View Post
Well done Sachin. Yes, these are really the problem areas where your SL is likely to be hit due to too much noise.
Would like to put it differently..... shares like these have low volumes...and most importantly...low delivery volumes. So, there is no 'conviction' in the buyers and sellers as per where the share may trade in future. So a relatively higher qty buy order will form a big spike in price and vice versa for a sell order.

The best way to approach these shares in not by buying breakouts (well that may also work but stop losses are not determined by Saints method of recent pivot lows... a different method shd be used), but by buying them on their support levels.

To cut the long story short... ignore them or prefer others over them when buying breakouts.
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  #4286  
Old 28th May 2008, 03:51 PM
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Default Re: New Intermed Uptrend!!
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Originally Posted by Saint View Post
No harm in that......with stops at previous pivot lows.But nothing sweeter than catching a move just after it completes a dntrend and is starting off a new uptrend.

Saint
How can one know when the UT is abt to start and DT is over, until the pivot high is taken off?
Wht I can make out of it is, by your teachings is tht to buy above the 1st bullish candle high.... plz let us know if this is wht you meant ?

Regards
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  #4287  
Old 29th May 2008, 11:35 AM
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Default Re: New Intermed Uptrend!!
Keep a watch on Mahindra Lifespace....if it closes above 660 today.
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  #4288  
Old 29th May 2008, 02:42 PM
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Default Re: New Intermed Uptrend!!
Quote:
Originally Posted by Saint View Post
never went over 38..........nice weekly downtrend and then a daily uptrend that is still not a weekly uptrend as of yet which happens over 37.4.

We have that bar on the weekly.....a bull candle on 17th Apr week and another bullish candle followed by 3-4 sideways candles........Now that makes it especially nice!

If you had 2 stocks,both were in downtrends,both put up a daily uptrend that shows up as 1 or 2 bullish candles on the weekly.Stock A gives one sideways to mildly bearish candles after that and threatens to take new highs......Nice!Stock B gives more sideaways candles and then threatens to take out new highs.....Especially nice!!

Saint

Hi Saint,

Trying to learn fishing from you . It was all well untill the last few posts, when you described not to wait for confirmation on weekly but to get into daily charts for confirmation.

In case of Ispat, weekly high was in the week of 25/4 at 37.7. Now
i) Higher Low formed in the second week of May
ii) Looked into daily charts for confirmation. The previous HH was on 14-May at 35
iii) We should have entered on 22May when it made high of 35.5

But I find this entry is different than what it should have been.

Please clarify when you get time .
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  #4289  
Old 29th May 2008, 03:01 PM
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Default Re: New Intermed Uptrend!!
Quote:
Originally Posted by Saint View Post
Yep,DJ.......ABAN in an intermed uptrend,daily in an uptrend with a decline in progress.Two ways to enter on this one:1.60min trend is down......Buy over a previous pivot high and then add more once prev pivot high on the daily is taken out.Stops as per daily charts.2.Buy once newer highs are made on the daily with stop at recent pivot lows.

Saint

Sorry Saint,

just too many confusions I guess

In this case, should not we buy as soon as daily takes over previous day high. Since its already in uptrend.

-Raj
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  #4290  
Old 31st May 2008, 05:07 AM
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Default Re: New Intermed Uptrend!!
Quote:
Originally Posted by r_qumar View Post
Sorry Saint,

just too many confusions I guess

In this case, should not we buy as soon as daily takes over previous day high. Since its already in uptrend.

-Raj
Well, I'm pouring my two-cents....
No harm in buying above the previous day's high. You can do that as well. But in following the strategy outlined by Saint...i.e. buying above the previous pivot highon the daily...we're taking some extra safety measure....that to confirm that daily is also in an uptrend.
HTH
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D J Sinha
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