New Intermed Uptrend!!

yep Ravi.....FDC in correction mode,yippeee!!You know why.......the correction to a place gives us the opportunity to raise our stop losses to the new pivot.....and like that we ride the trend till stopped out!

FDC stop loss now at 45.....wherever it pivots that is our new stop.

Phoenix

Hi Saint,
What is the stop loss for Tata Tele and Polyplex?I hope u don't mind me asking so many questions.

Avinash

AMITBE/SAINT/PHOENIX
please give your opinion regarding GUFIC BIOSCIENCES. this scrip freezed at 34.65 today with volume of more than 47 lakhs.
regards

Great attitude,Phoenix ......totally agree!!

Saint

SESA GOA---flying today.Doing great.........

I hope that people new to the market and are interested in the tech.aspect of the market as well.....hoping you guys have at least EOD Charts,if not intraday.
If anyone is interested,just pull out your EOD charts of SESA GOA-Daily Charts.Sesa Goa made a top of 882 on March 8th,after which it's had a long pullback.It made a pivot low on March 23rd at 705,then on Apr 18th another pivot low at 651,another pivot low of 635 on May4th,May 26th-it touched a new pivot low of 611,and again a new pivot low at 569 on June 13th.
As Sesa Goa makes these lower pivot highs and lows,what do we do?Nothing.....we sit on hands and wait.We do not buy in anticipation,we do not guess the bottom.....we simply wait!
Then on June 30th,it made a pivot low of 577......it has just made its first higher pivot low.Are we in an uptrend?No....not yet.If you are a bit aggressive,you can take some here with a stop loss just a few Rs below the previous pivot low.....i.e569-3=566.
If you are not comfortable that Sesa Goa has not given a clear Buy Signal,you are absolutely right........nowSesa Goa moves up and takes out the previous pivot high at 619.Now the BUY SIGNAL has been triggerred....Entry at ,maybe 621-622,with a stop loss now at 577-3=574(why 577=coz that's the previous pivot low,the 3 is to give it some room and to not get thrown out of a trade d/t some volatility that day).Now on July 14th,the stock pulls back to 643 and starts to rise again.....where's our stop loss now,still 574.Now Sesa Goa moves up and takes out the previous pivot high of 715......now we raise the stop loss to 643-3=640(643=previous pivot low).
We therefore get to stay in the trade........and although Sesa Goa is at 726,the money that you are sure of in your pocket is only from 621 to 643...you are now in clear profit though,this trade is adefinite winner,then as the stock makes higher pivot lows,we get to raise the stop loss.....the more we raise our SL,the more money we are sure off from this trade....we keep doing this till we are stopped out.
We can therefore make money by just going with the flow.We may not know a thing about any indicators,although they do help us.Just looking at a price chart,with pivot analysis,and probabaly a few patterns will earn us big time,my friends.Hope this helps a few of you who are starting out......

Wishing you the very best!
Happy Trading!
Saint

Hey saint,
Wow, so lvividly and well written and makes everything so easy to understand. Great one, friend, and I though I was the only one with lengthy and effusive posts here!
Do look for and suggest something else, hovering in the lows for us to look at?
Kudos and thanks.

Hi Amitbe,
Thx .....most appreciated!Just trying to share what little I know.....Shall look for some neat patterns!

Saint

Hi Saint,
Well written.....a must for everyone who is getting started in pivots,etc.Great write-up......Keep em comin!!

Phoenix

Hi Saint,
Mahindra GESCO is up 35% .....not in it though! But I am in Jaiprakash Assoc.....up 30%now. Weekly on Jaipra.Assoc still looking good....just trail stopping it upwards.Great call,friend!!

Phoenix

Hi Everyone,
Just a few updates............

ABB --forming another ascending triangle,breakout from the high is going to take us to much higher levels.....once it takes out the high,we raise the SL to the presently forming pivot.For those who are in it already,it's still ahold.Could add over 1555.(up 14%)
ANDHRA BK --still looking fantastic on the weekly.Hold.(up 5.5%)
AMTEK AUTO --Still a hold.(Up 10%)
ANDHRA SUGAR --again,it's a hold.Still looks good.(up 9%)
ASHOK LEYLAND --Very,very nice.It's still a hold.(up 7.7%)
AVENTIS PHARM --weekly/monthly breakout to new highs,let's see where it takes us.(up5.5%)
BANK OF RAJASTHAN --superb looking weekly.Hold.(Down 1%)
BEML ---Still nice,Stop loss at 580.Hold.(Up 1%)
DIVIS LABS --Topping tail on the weekly,looks like correction time.Still a hold.(Up13%)
GUJ NRE COKE --hold.Weekly will take off when it does.SL=103.(down 1.2%)
INDRAPR.GAS --Still within the range.....for now,hold(up 4.7%)
IVRCL --This has taken a breather and ready to go to new highs.Raise the sl once new highs reached.Looking good!(Up 5.9%)
JINDAL STEEL --Hold.(Up 4.5%)
JAIPRAKASH ASSOC. --verrrry nice,new highs.(up 30%)
MAHINDRA GESCO --Weekly breakout,nice!!(up 35%)
MID-DAY MULTIMEDIA --in an area of congestion.Hold.(down 1.6%)
NTPC --slow mover,but this week still took out last week's high,and made ahigher low.....so we wait.Hold.(up 4.4%)
NOIDA TOLL BRIDGE --Looks good for a breakout soon.Hold.(Down 1.6%)
PETRO LNG --Weekly making higher highs and lows.Add on pullback.(up 12%)
POLYPLEX CORP --Hold.(up0.1%)
PRISM CEM --we have a high vol.breakout putting up a wide range bar on 19/7, followed by 3 days of pullback on decreasing vol.to an area of support.Add over 23.75.(up 15%)
SESA GOA --Higher highs and lows on the weekly.....Hold.Still looking good.(Up 22%)
TISCO --Hold.(up 9.6%)
TATA TELE --very nice.Hold.(up 9%)
UNION BK --Hold (up 6%)
UTI BANK --Hold(up 2.5%)
WELSPUN GUJARAT --At resistance.Hold.(up 14.2%)
HMT --out at 102% gains.
SINTEX INDS --Didn't enter.Too low vols for my comfort.
SHR CEM--didn't enter....again too low vols for my comfort.


All the best,
Happy Trading!
Saint