I can help you with stock chart reading

VRV · #**1101** 22nd October 2006, 11:54 PM

Quote:

Originally Posted by darsh_goswami

Thanx buddy for ur guidence ,.. but I think ABB needs to be corrected a little,.. Lets see,.. if i get any other negative signal to sell. Infact I like to short stocks rather then goin long with them... I'm short on OBC since past 1 week. Planning to cover short at 225. Wasnt that a good trade ?

I am sure ABB will correct. I am saying this because it went out of the bollinger band. OBC (ORIENTBANK) is a good trade you made. I am not saying these are bad trades. As long as you have a plan for them and take those trades as part of your trading. For example, your trade plan for this trade can be:

Setup Condition:
Stock goes outside the bollinger band. You can make this more stringent condition if you get many stocks. Stock Open is above the bollinger band.

Entry Condition:
Days close of the tick which is above the bollinger band.

Exit Condition:
Days high + X

Profit Condition:
Trail the stop above previous day's tick high + x or 10% profit met.

The above is just an example and change according based on your liking and experience. This kind of trade is a CONTRA Trade. Going against the trend. You should be quick in either getting stopped out or taking profit. You will make lot more trades and will have lower loss and lower profits. Time frame for most of these trades can be 1 day to a week. Hope you are getting the point. Each kind of trade has a character to it. No trade is wrong or right as long as you have a plan as above. And you execute that plan to take those trades when you get them.

Good Luck
VV

darsh_goswami · #**1102** 23rd October 2006, 12:47 AM

thAnKS bUddY,..

It is definately a good suggestion,.. I'll try to go through it,.. My %profit ratio is normally 5-6% from the price I trade in any direction. I dont trade blindly. I strictly follow my stops & profits. And I do suggest everyone the same if u dont wanna ruin ur money. Thanx for ur kind concern.

Will definately msg here , when i wll place any new trade of mine. But i guess Markets r nervous right now ( dont know anything about fundamental ana., but atleast charts suggest that). So its better to wait till any directional breakout.

Regards...
Darsh

alok · #**1103** 23rd October 2006, 09:40 AM

First .. Happy Deepawali to EVERYBODY in forum.

Dear VV good to see you back...

Quote:

Originally Posted by VRV

I am back. But, I have been very busy lately. I started a thread on Stock of the day. But, I couldn't keep up. So, I decided to continue this thread on weekly basis as time permits.

VV

jikku · #**1104** 23rd October 2006, 05:55 PM

guys

Help me - in prospects of recent IPO's

Usher Agro

FIEM Ind

and even the latest

JHS Svengaard

and the mistake i did is i did not got out on first day listing gains..and these are going down & down

and one more is

ONTRACK systems

thanks
jikku

learner · #**1105** 23rd October 2006, 07:27 PM

Hi VV,

Good to see you back.

Could you please refer some books which are specific to chart patterns.
I am currently reading Elder's Come into my trading room.

Thanks
Learner

Quote:

Originally Posted by VRV

I am back. But, I have been very busy lately. I started a thread on Stock of the day. But, I couldn't keep up. So, I decided to continue this thread on weekly basis as time permits.

VV

VRV · #**1106** 24th October 2006, 05:29 AM

Quote:

Originally Posted by VRV

Stocks for Monday:

1. ExideInd
2. Any of Tech leaders. They are all nicely setup as acceleration from previous trend. All exhibit the same pattern.
--Wipro
--TCS
--Satyam
--Infosys

In the charts, top line is for entry, bottom for stop. I considered ATR and Chandelier for stop.

Change entry criteria. This is for NSE stocks.

ExideInd: Same as previous
Wipro: Yesterday's high + x
TCS: Yesterday's high + x
SatyamComp: Yesterday's high + x
Infosystch: Yesterday's high + x

Choose only 1 of Wipro, TCS, SatyamComp or Infosystch.
Market is nicely setting up for acceleration mode. It may take 1 day to 3 days for takeoff. Strap your belts.

Other questions, end of the week!!!
VV

darsh_goswami · #**1107** 24th October 2006, 11:15 AM

Hey VV,.. Charts look smart , but this time i doubt that it will be able to take support,.. May be mid-caps can shoot up but i dont find enough strength in the sensex of nifty,.. as of some of the stocks started losing their stemina,... Do check about banking counters,.. that might spoil the game,..

Then too lets see,..
Regards,..
Darsh

mansukh · #**1108** 24th October 2006, 11:10 PM

Hi VV,
Attached is a chart of Zee Telefilms (ZEETELE).
I feel it is Ascending Triangle, supported at 285 and 292
I wuld like your comments on this.
Please Correct me if i am wrong.

Same was situation with I-flex before it broke out.

Thanx.

VRV · #**1109** 25th October 2006, 05:29 AM

Quote:

Originally Posted by darsh_goswami

Hey VV,.. Charts look smart , but this time i doubt that it will be able to take support,.. May be mid-caps can shoot up but i dont find enough strength in the sensex of nifty,.. as of some of the stocks started losing their stemina,... Do check about banking counters,.. that might spoil the game,..

Then too lets see,..
Regards,..
Darsh

Lets see. BANKNIFTY went from 3400 to 5400 (60% increase). What do you expect. It will continue to go forever. Doesn't it require breathing room (consolidation/correction). So, may be market will correct. I am (Lets) not going to predict that. If we feel that personally, we have a choice to stay away.

I trade using pullback methodology. If a trade exists, I trade it. I don't care if it ends up in loss. Because, no one knows that. At least, market has not yet shown that. Sensex is still above 20 day EMA and 50 day EMA. If it continues to lose next couple of days, I will agree with you and stay from being long until correction/consolidation is over. I will get negative about it if 50 day EMA does not support it. Aren't we far from 50 day EMA. What U say?

ZeeTele
-- I don't know about triangle. But, it is consolidating. MACD has minor divergence for going long. I would wait for 305 to be taken out before getting interested.

I-Flex
-- Good one. Wait for pullback (according to my methodology)

VV

Arwin_24 · #**1110** 26th October 2006, 12:05 PM

Hey Guys Happy Diwali to all I am a new user here and new in share mkt so can u ppl help me to grow in mkt

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