I can help you with stock chart reading

vvonteru · #**1041** 13th September 2006, 09:50 PM

Quote:

Originally Posted by GKHERA99

Vv
Views On Ramsarup Industries,hanilera Industries.hanilera Has Ethanol Story Attached To It As Given In Icici Research.comments.regards

I couldn't get hold of the charts for these stocks.

Market:
Its impressive how the indexes came back. Even better is the action in banks (BANKNIFTY). Will there be a follow on to this? Will the volume and volatility be better this time? Lets wait and see.

Link on Keeping Ego Out of Your Trades:
http://us.rd.yahoo.com/finance/exter...&cm_ite=NA

This tenet was told by my friend before I started trading. When you have big paper loss, you are not only losing money on that stock. But, more importantly, it will affect your current and future trades till you close the paper loss trade. So, take the loss and move on.

vvonteru · #**1042** 13th September 2006, 10:59 PM

Quote:

Originally Posted by babs

Hi

could u pls advise what indicators can help to forcast the next movement of a scrip. i am a day trader, could u pls tell is there any co-relation statisticks among prev.close,todays open,todays high,todays low and last trade price.
normally in my day trading before reaching the target my stoploss is trigerring. may be due to lack of experience.

pls help

babs

Here is the example of daytrading using EMA crossovers. Use % profit taking method to take profits. For example, by looking at a chart if you feel the EMA cross down will happen in Rs10, thats were your stop will be. If the stock goes in your favour, then you take profits as multiple of R is reached.

R = 10

1st R = 50%
2nd R = 25%
3rd R = 15%
4th R = 10%

Ofcourse, change the % to your convinience.

U need some improvisations to fine tune the no. of trades. U need to use 10 min, 15 min and hourly for selecting the direction of the trade.

Entry:
After crossover, try to enter when the price touches 8 EMA. Better if U enter when price touches 50 day EMA. Thats the low risk high reward play.

Exit:
Use bollinger bands. Don't forget to take % profits when price moves above the bollinger band. And never enter when price is above bollinger band.

mansukh · #**1043** 13th September 2006, 11:33 PM

Hi vv, like ur views on
ROLTA, NAGARCONST, HINDALC0. <--- Short term (1 Month) View

bought ZEETELE@309 HeroHonda@773.85 today. <--- 3 to 4 days view

thanx in advance.

vvonteru · #**1044** 13th September 2006, 11:59 PM

Quote:

Originally Posted by mansukh

Hi vv, like ur views on
ROLTA, NAGARCONST, HINDALC0. <--- Short term (1 Month) View

bought ZEETELE@309 HeroHonda@773.85 today. <--- 3 to 4 days view

thanx in advance.

Rolta:
Wait for couple more days. Use MACD(3,10,1) > 0 for entry. Right now it is -6.99. If the market improves here on, then Rolta improves, we buy. The key in buying low is not buying when the stock is going down. Buying when the stock is recovering from low. Look below the V action. Buy on the right side of the V action. Rolta is on the left side right now.

\..../
.\../
..\/

NAGARCONST
-- Looks good. Coming out of the pull back at 280. 300 would have been good entry. If U enter now, look at 300 as the base support.

HINDALC0
-- Avoid this stock till it comes out the top of range at 180.

ZEETELE@309
-- Doing good. Beware of the long bars when putting stop.

HeroHonda@773.85 today
-- I would have waited for the pullback on the entry. Ofcourse, it depends on how you trade. There is good momentum in the stock.

mansukh · #**1045** 14th September 2006, 12:12 AM

hi vv, could not get ur point ...
Right/Left of what "V"

Stocks that i mentioned i already have those. What do i do with these positions.
50 ROLTA @ 227
50 HINDALCO @ 175
50 NAGARCOST@ 300
100 HOTEL LEELA @ 295
200 SUVEN @ 114
20 TECH MAHINDRA @ 536
36 ZEETELE @ 309
20 HEROHONDA @ 774

VV, I am a beginner,i traded in futures n lost Rs.88000. This is not my money.
Is there any way i can recover this amount in 2 months or so.

And 2 all beginners reading this Do not trade in futures as a beginner.
This is my sincere advice 2 all beginners coz futures have more of ur money
on risk. I had no trading plan or what so ever. This is my reason 4 failure.

Anyways back 2 u VV, as i mentioned above, this is my current porfolio.
How can I reshuffle this to get higher returns?

vvonteru · #**1046** 14th September 2006, 12:53 AM

Quote:

Originally Posted by mansukh

hi vv, could not get ur point ...
Right/Left of what "V"

Split V in the middle. U have left \ and then right /. Left represents stock going down. Where they meet is the low point. Right represents stock going up. I am saying, buy low, but don't buy when stock is going down. Buy when stock is going up from low. See the attached image.

50 ROLTA @ 227
-- Look at the green trend line in the image. If ROLTA goes below that trend line, it will be hard for me to keep the position.

100 HOTEL LEELA @ 295
-- Not a lot of momentum. Other than that, can't find anything wrong with the chart.

200 SUVEN @ 114
-- Will take couple of weeks to come up. Due to sideways action, use weekly timeframe for better understanding of the stock's chart.

20 TECH MAHINDRA @ 536
-- New stock. Showing double bottom. Will it work?

50 HINDALCO @ 175
50 NAGARCOST@ 300
36 ZEETELE @ 309
20 HEROHONDA @ 774
-- I have already given my views for these.

Quote:

VV, I am a beginner,i traded in futures n lost Rs.88000. This is not my money.
Is there any way i can recover this amount in 2 months or so.

It will be hard for U to forget. But, thats the only way to survive in the market. Forget about what U lost. Never trade to recover lost money (its mind game). But, trade your plan and trade in the right way.

Quote:

And 2 all beginners reading this Do not trade in futures as a beginner.
This is my sincere advice 2 all beginners coz futures have more of ur money
on risk. I had no trading plan or what so ever. This is my reason 4 failure.

Well said.

Quote:

Anyways back 2 u VV, as i mentioned above, this is my current porfolio.
How can I reshuffle this to get higher returns?

I can't help you in terms of setting your portfolio. I can give you following advice though.
1. Have only 1 stock per sector.
2. Limit to 5 stocks. No. of stocks depends on your capital amount. But, 5 should be good enough to manage.
3. Try choosing momentum sector stocks. Look at banks. I don't see a bank stock in your portfolio.

SatyaGadepalli · #**1047** 14th September 2006, 01:33 AM

VV Sir,

Could you read Wipro charts?

Regards
Saty

vvonteru · #**1048** 14th September 2006, 01:42 AM

Quote:

Originally Posted by SatyaGadepalli

VV Sir,

Could you read Wipro charts?

Regards
Saty

520 is the resistance. If U want to enter, wait for better action around 540. If U are already in there, use stop below Monday's low or 480. Rather look at better volatility stocks in its group. Satyamcomp and infosystch. They tested 50 day EMA successfully and going up.

Some more links:

Trading 101: http://tradermike.net/2004/05/tradin...ng_for_dummies
Day Trading Learning Site: http://www.maoxian.com/archivecat.html#QA

mansukh · #**1049** 14th September 2006, 03:36 PM

how is SESAGOA looking now
Wat Position can i enter at?

pranayd · #**1050** 14th September 2006, 04:28 PM

Hi VV,

Can I have your views on the following:

1. S Kumars (Icharts code: skumarsynf)
2. Nitco Tiles (nitco)
3. Praj Industries (prajind)
4. Amara Raja Batteries (amarajabat)
5. Adlabs Films (adlabsfilm)

Which of these can I enter now?

Thanks,

Pranay

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