New Intermed Uptrend!!

ssnkumar · #**971** 3rd October 2005, 04:41 PM

Hi Saint,

Any idea about Prajay Eng?
It went up continuously for sometime and is in reverse gear for past 10 days!!

So, how will it do in the near future and is it a stock with good fundamentals?

Regards,
Narendra

Saint · #**972** 3rd October 2005, 05:24 PM

Quote:

Originally Posted by ssnkumar

Hi Saint,

Any idea about Prajay Eng?
It went up continuously for sometime and is in reverse gear for past 10 days!!

So, how will it do in the near future and is it a stock with good fundamentals?

Regards,
Narendra

Hi Narendra,

Went up big time before this rather painful pullback.....has come down nearly 35% from the top.Expect more correction in the near future as the monthly charts correct.Overall,in a very strong primary uptrend........if a long term player,this one is looking good for higher prices,but not before some more pullback.

Happy Trading!!

Saint

xtiger · #**973** 3rd October 2005, 05:32 PM

Quote:

Originally Posted by saint

Hi xtiger,

PAREKH PLAT:...Stay away for now.....buying here could give you the satisfaction of buying at the bottom.Would also give you the frustration of your money taking forever to grow.

Happy Trading!!
Saint

Saint, you had put it very nicely. Thanks for caution. Am in already with some positions. Better to offload it (with loss of 20%

) now, I feel. Would also give you the frustration of your money taking forever to grow.

Very true saint. Thanks.

Saint · #**974** 3rd October 2005, 07:12 PM

Quote:

Originally Posted by madhura

Hi Saint,
Thanks for your new and educative posts on candlesticks.
I really like the idea of attaching the diagrams therewith for our quick reference,
Congrats for your 1000th posts as well...all the best
Madhura

Hi Madhura,

Thank you for those very kind words.....most appreciated,my friend!

Saint

jaideep · #**975** 3rd October 2005, 07:41 PM

Saint my friend, I'm silently gobbling up all that you're offering to us on a platter. So much of "TA-made-easy", so to speak. Keep going & thank you.

Saint · #**976** 3rd October 2005, 07:52 PM

Hi Jaideep,

Kind words.......and most appreciated as always,my friend!

Saint

Saint · #**977** 3rd October 2005, 07:58 PM

Nice "Cup-n-Handle formation"on the SHIPPING CORP monthly..........aggressive position traders can take a half here and the rest on a breakout above 189.Share size accordingly.....stop of 130,target of 280.

Certain degree of risk here..........so careful.Half positions,share size as per your Trading Plan,and take your stops if hit.

Happy Trading!!

Saint

comerciante_inde · #**978** 3rd October 2005, 08:07 PM

Saint
The kind of appreciation that you've got in these threads forces me to ask a couple of queries regarding some stocks. Hope you don't mind this trouble.

> IFCI - what is you view on this stock.
> Reliance Capital - Is it expected to remain rangebound for sometime.

I am also very keen to know whether you track the wonderful commodity markets.

Million Thanks
Cheers

ragh_ash · #**979** 3rd October 2005, 08:24 PM

Quote:

Originally Posted by saint

Nice "Cup-n-Handle formation"on the SHIPPING CORP monthly..........aggressive position traders can take a half here and the rest on a breakout above 189.Share size accordingly.....stop of 130,target of 280.

Certain degree of risk here..........so careful.Half positions,share size as per your Trading Plan,and take your stops if hit.

Happy Trading!!

Saint

hi saint,
excuse me for asking some elementary.
what u mean by
1) share size accordingly.
2) reward to risk ratio
3) breakout (is 189 in above is absolute or is it give or take a few points here or there) this question b'coz some time back got bashed for buying maars at 7.3
4) how do u calculate/predict a pull back. i mean u go to previous support?

u see v basic questions
but what 2 do more i try to see patterns more basic questions come up.
and pray pl explain cup & handle for SC.
i know u had explained a few posts earlier but still i am not getting it.
regards

Saint · #**980** 3rd October 2005, 09:09 PM

Quote:

Originally Posted by ragh_ash

hi saint,
excuse me for asking some elementary.
what u mean by
1) share size accordingly.
2) reward to risk ratio
3) breakout (is 189 in above is absolute or is it give or take a few points here or there) this question b'coz some time back got bashed for buying maars at 7.3
4) how do u calculate/predict a pull back. i mean u go to previous support?

u see v basic questions
but what 2 do more i try to see patterns more basic questions come up.
and pray pl explain cup & handle for SC.
i know u had explained a few posts earlier but still i am not getting it.
regards

Hi Ragh_Ash,

No question is ever elementary.........I am glad that you ask so many questions and have that burning desire to learn.Great stuff,my friend!!Ask,ask,ask......always ask what you did not understand.Always glad to explain or re-explain....some times it may take some time in coming,but always glad to explain.

Going to answer your questions one by one..........let 's start with this one

Quote:

what u mean by
1) share size accordingly.

Just check out something I had posted earlier...........any questions get back to me.Always glad to help!

Quote:

Hi Avinash,

Share sizing is an art form .....Understanding it gives you great power and great profits.Also the stop loss when triggerred does not affect you in the least.One just moves on to get another stock and make profits there.

Let us for example use ISPAT INDS.I caught this move from November last year so it's easy to quote this as an example.

STEP 1:First,I should know the capital that I have.Let us presume it is 10 lakhs that I am playing with.How much am I willing to risk per trade?Anywhere bet 0.5%-2%.Let us say that I am willing to risk only 1% per trade.Therefore what is my risk per trade?Ans:1/100 times 10L=Rs10,000/-

STEP 2:Next we go to our charts.Entered on November 3rd at 13 with a stop loss of 11.So we got our ENTRY and STOP LOSS.

STEP 3:Now is this trade worth it?Therefore we calculate the reward to risk.The ratio should be greater than 2:1.Our target is 20.That gives us a 3.5:1 reward to risk.

So this trade is worth taking,We have a great entry point,a stop loss and a target.The reward to risk is worth it.But how many shares?

STEP 4:A s we calculated just now,for a capital of 10lakhs,we are risking only Rs10,000 for this trade.Meaning if the stop loss is hit,we lose Rs10,000.So how many shares do we buy?Ans:10,000 divided by the dist from entry to stop loss=10,000 divided by(13-11)=5000.

So we buy 5000 share of ISPAT at 13 with a stop loss of 11 and a provisional target of 20,with a reward to risk of 3.5:1.

Once a perfect entry,stop loss and share size is looked into,the trade is now on auto-gear.Then we trail stop it upwards till target or till taken out.

Hope I have helped answer your doubt.

Happy Trading!!
Saint

More Later!!
Saint

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