I can help you with stock chart reading

vvonteru · #**1001** 7th September 2006, 07:01 AM

Quote:

Originally Posted by rinv

VV,

I did some analysis on the MACD, MA crossover, MA for Ansal Infra and have invested at 465. It has been slightly volatile since then. Could you let me know what you felt on reading the technicals and how it may look in future.

Also, share your views on NDTV.

Thanks
RInv

500 is the resistance. I woudn't lose hope at. Once U put a position, stick with it using a stop loss. Unless U have preset conditions that will tell you to take out the position prematurely. And U follow these preset conditions always.

NTDV
-- Price action strong. 7 Weeks in a row up. Volume was low during downslide in May, an exception. Since then, volume has been increasing. Very good pick.

harmads · #**1002** 7th September 2006, 10:32 AM

Hi VV

In Telecom sector Bharti & RCvL are doing well. Is it right to enter at current levels for a long term perspective or should wait for a dip. Do you think these companies will give good returns if bought this level.

In Auto sector, both Maruti & Tata Motor are climbing up without a slowdown and my wait for a dip is becoming a bit damp. So you think they can be bought at this level for a long term perspective and still they will give good returns..

Will appreciate your comments

kenneth · #**1003** 7th September 2006, 12:46 PM

Quote:

Originally Posted by vvonteru

Entry into Exide Ind should be ok. Do not compromise on Stop Loss. Reduce position size instead.

.

Thanks VV

Look at Exide Ind at @ 380.65 BBT is 375.40 chandilier stop 342.40 which is below the support 345.50
If one has taken a position in the morning How he should trade?

Ken
Follow Up
2:53 PM Price 378.45 Chandilier stop has moved up now 368.4 on hourly charts
3:30 Pm Price 390.00 Chandilier stop has moved to now 378 on hourly charts

kumar7 · #**1004** 7th September 2006, 02:40 PM

Dear VV,
.
I'm interested in Media Video. It is a low equity play (1.5 crores) and moves in spurts. Warning: one can get stuck in it or strike gold, hence requires great patience. But it is also a real state play, which will be included in the balance sheet for the first time in the june quarter (the results are yet to be decalared!). Charts are in general ok, but recently the volume---and the price---has been increasing consistently. I think it's worth putting some money in it for long term.

Can you, please, take a look at its charts (I do feel it is not a technical play at the moment).

Thanks,
Kumar

rvgandhi · #**1005** 7th September 2006, 05:06 PM

Quote:

Originally Posted by rvgandhi

Dear VV,

Your advice on TVSMOTOR please. I have entered the stock at Rs 82 and needed your advice if it is now right to accumulate as the stock is inching above its 50 Day EMA.

Can you take a second look at TVSMOTOR and advise.

vvonteru · #**1006** 7th September 2006, 07:34 PM

Quote:

Originally Posted by harmads

Hi VV

In Telecom sector Bharti & RCvL are doing well. Is it right to enter at current levels for a long term perspective or should wait for a dip. Do you think these companies will give good returns if bought this level.

In Auto sector, both Maruti & Tata Motor are climbing up without a slowdown and my wait for a dip is becoming a bit damp. So you think they can be bought at this level for a long term perspective and still they will give good returns..

Will appreciate your comments

To start with, I have to admit I am not good at Long Term analysis. Whatever I know is for short term, only using TA. Poor (lazy) in doing Fundamental Analysis. Its not practical for me to check fundamentals for so many stocks either.

Bharti
-- Weekly it is still showing down trend. Daily, U have to buy based on MACD crossover or price is above the down trend line. 3 days up. I would wait for pullback before I buy.

RCVL (RCOM in iCharts)
-- I think U missed the boat if U were looking to buy Long Term. Its been up so much that it is going sidways for consolidation. Use MACD cross up to time the entry or last 5 days high.

Maruti
-- U should have bought at 830 area. If you are looking for dip to 50 day EMA, they may or may not give. Its very hard to say whether it is right time or not. It depends on your objectives. Thats what I call trading plan. Stick with it inspite of not getting opportunities. The stock is doing good.

Tata Motor
-- Stock consolidated around 850 region. CMP not far from 850. But, look weekly chart for 1 year. U see volume reducing. This volume reducing phenomenon I see in most of the stocks does not augur well for future.

TVSMOTOR
-- I apologise for missing U an opportunity. But, there has been dramatic change in how the stock moved in the last 5 days. Even now, do not add. Wait for pull back before you add. And only add 50% position of what you have. Temptation is always there of missed opportunity. But, U must act the same way whether it is loss or gain.

MediaVideo
-- Looking at the price and volume, I felt it would be a gamble. We don't want to gamble. We want a stock which has nice and clear pattern for easy trading. Look at the above for comparison.

vvonteru · #**1007** 7th September 2006, 07:49 PM

Quote:

Originally Posted by kenneth

Thanks VV

Look at Exide Ind at @ 380.65 BBT is 375.40 chandilier stop 342.40 which is below the support 345.50
If one has taken a position in the morning How he should trade?

Ken
Follow Up
2:53 PM Price 378.45 Chandilier stop has moved up now 368.4 on hourly charts
3:30 Pm Price 390.00 Chandilier stop has moved to now 378 on hourly charts

Kenneth,

I think we discussed about what options we have for profit taking. If U are a partial profit taker, go ahead and take out partial position profits. If U carry 100% position, trail the stop. When trailing stop, make sure U have atleast 2* ATR. If U grade yourself based on multiples of R and they have reached, then take out the position. As U might have observed, results will vary.

Lets take EXIDEIND for example. Lets say Ur trading plan says U will carry 100% position. But, U saw on August 29th, EXIDEIND hit 375. U got tempted and took out 50% profit at 375. Today EXIDEIND is 385. And hit yourself hard because you don't have the 50% position as the stock still has momentum. So, my friend, do what Ur plan says inspite of how market is behaving. On the long run, you can atleast look at your trades diary and see what is working and what is not.

kenneth · #**1008** 8th September 2006, 08:38 PM

Thanks VV I am following your instructions and maintaining a trades dairy
Ken

vvonteru · #**1009** 8th September 2006, 08:46 PM

Quote:

Originally Posted by kenneth

Thanks VV I am following your instructions and maintaing a trades dairy
Ken

Great. Thats the mark of a serious and successful trader. Elder stresses so much on keeping trading diary. Not many traders realize this. In addition, you should do a monthly checkup on your trades. Check why a trade successfully worked while the other didn't work. See how you could have done differently. Beware that the market can be a bad teacher. It can award you for bad trades and punish you for good trades. Keep that in mind when you change your trading plan. Avoid frequent changes.

rinv · #**1010** 8th September 2006, 10:55 PM

Indus IND bank is looking good based on the following indicators:
-MACD is positive and above the signal line
- MA crossover looks good
- Trend breakout ; hence may move up ..

however RSI is very high at 70 ..

Could you validate my findings and share your views on the same .

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