I can help you with stock chart reading

vvonteru · #**281** 2nd May 2006, 06:25 PM

Quote:

Originally Posted by SGM

Hi Vvonteru,

How is Tata Tea, good move today, seems to be unable to brk abv 880-890 till now. Will it be a buy if closes abv that?

---This stock is below 50 day EMA. 200 day EMA acted as support. Let it cross above 50 day EMA and then pull back. A safer bet would be after crossing 950 Resistance. So, wait on it (Unless U are drinking a lot of Tata Tea and U think others will do the same after U buy it

)

HFCL +15% today, can enter here?
--- No. Missed an entry. If U go in now, U will be entering at high with a farther stop loss. Any change in plans from the stock, U will get stuck. So, wait for next entry.

Well, thats completes my quota of 2 stocks per post

--- Thanks

India Cement is going along well, thanks!
--- Good it worked for U.

Regards
Sanjay

...............

vvonteru · #**282** 2nd May 2006, 06:50 PM

Quote:

Originally Posted by vvonteru

Market Update:
Market is still in trading range. Avoid new entries for now till the market successfully comes out of the trading range.

Guys,

I did not look at all the indexes before. Here is the good news on other indexes. Most of the indexes broke out of the trading ranges. Lets see what are those.

BSE100
BSE200
BSE500 (This is better index to trust than SENSEX, which has just 30 stocks)
BSEHC
AUTO
BANKEX
OILGAS
METALS (Was not in trading range. But, really going good)
MIDCAP
SMLCAP

Still in bad condition
IT

Now what? Ideally, we would want the indexes to go up and pull back (not going back to trading range). Thats when we enter. However, if U are a aggressive player and want to go in now, consider stocks that are already in pull back and check if U can safely enter those without a wider stop loss.

SGM · #**283** 2nd May 2006, 08:00 PM

Quote:

Originally Posted by vvonteru

Unless U are drinking a lot of Tata Tea and U think others will do the same after U buy it

Hello,

Don't mind doing that, if it helps.......

Attached the chart of Tata Tea, looked similar to Kang Tail to me. Anyway, for a newbie like me, charts always seem to match the latest pattern i am studing...

Regards
Sanjay

vvonteru · #**284** 2nd May 2006, 08:15 PM

Quote:

Originally Posted by SGM

Hello,

Don't mind doing that, if it helps.......

Attached the chart of Tata Tea, looked similar to Kang Tail to me. Anyway, for a newbie like me, charts always seem to match the latest pattern i am studing...

Regards
Sanjay

U know what, I thought the same when I saw that. The question is how do we take advantage of that. We need to scan for that pattern. But, as I said earlier, I don't whether this is a high probability trade. What is the chance the sector of the stock doing the same. And what about the market in general. We need to have criteria for stock selection that mimics the General Market. The general market is all time high. Pick stocks that are comparable to the market. Be in a sector that is going along with the market. If not, U will end up with lot of stocks to trade. Which one do U take.

Stock selection (elimination) is the greatest challenge, once U gain knowledge of TA. Because, once U run a scan, U will get lot stocks in result. Which one U go for finally?

vvonteru · #**285** 3rd May 2006, 07:45 AM

Quote:

Originally Posted by ask4dinesh

Hi Vvonteru,

I am new to this forum, and reading your comments/explanations from last few days. I am beginner in trading, learning fundamental from last 3-4 months and start trading from last month. I am going to do some more investment in next 1-2 months. I'm not planning much short term, but 6 months to 1 year investment. And like to use your experience and knowledge to pick good stock or right one.
--- I don't tell about a stock whether it is for 1 week or 6 months or 1 year. If it goes up, I keep it. It it goes up for 1 year, why not. I will tell U whether the stock has potential to make U money.

Here is my list, must be long

+ Hind Zinc [106.20]
I couldn't find this scrip. give me the code.

+ JindalStainless [120.65]
A new trend will start. Wait for the stock to go up and pull back. Wait at least for MACD short term to cross over long term, there after for pull back for entry.

+ Hindalco [224.40]
U missed an entry. I am sorry for getting back late. But, I have been telling U guys about metals sector being good. Hindalco is in Aluminium sector. U should have entered this stock.

+ Guj Ambuja Cem [124.05]
There was an entry. But, the price is still there. But, some how, all the cement stocks have reversed. Look at ACC. But, the uptrend is still there.

+ SAIL [83.90]
Uptrend is there. Lot of noise. Not able to keep the bullishness. Look at MACD. Need some momentum.

+ IPCL [272]
This thing is all over the map. It has open up Triangle pattern. I don't how U want to play this.

+ Finolex Ind [96]
Missed an entry around 92. But a new trend has just started after a long many years of trading range. Hopefully, this trend is meaningful for U to enter after a pull back.

+ Bata India [272.65]
Missed an entry at 275. Wait for the next one.

+ Rolta [252.80]
The way to trade this stock is to buy at trend line. Draw a trend line along the uptrend. When it touches the trend line, buy it. Or else, once in a while, it is touching 50 day EMA. Buy then.

+ Sterlite Optic [185.50]
It was a parabolic move, which the stock is not able to keep it. There should be a transformation to a new trend. At least, we can't go in now. But, looking at the volume, there is momentum in the stock.

I would be grateful if you suggest me 2-3 or max 5 stocks, in which I can go for investment for 6mon to 1year period.
--- I think U got hold of good stocks. Some of them had good entries, that U missed (hopefully U didn't) waiting for my input. I wish I should have looked at them before. Having said that, concentrate on the following:

Hindalco
Bata India

Others are ok too. Look at the comments. U might have seen that I did not have much to say on some stocks. The reason, its not always possible to read a stock using TA. Sometimes, there is nothing to read or U cannot make a right judgement. It will take couple of days/week more to have a better understanding.

Thanks in advance,
--- No problem

REgs,
- Dinesh Sailor

-----------

rangarajan · #**286** 3rd May 2006, 09:05 AM

dear vv,
Is Syn bank Kangaru tail on 28/4? & BOC
ranga

drvasurao85 · #**287** 3rd May 2006, 03:45 PM

hi!
how is rcovl-reliance communication looking now on the charts.i have entered at 300 levels what do u expect from the charts.
THANKS FOR ALL THE WOUNDERFULL WORK YOU HAVE BEEING DOING AND ANSWERING ALL THE THREADS
THNKS
DR RAO

vvonteru · #**288** 3rd May 2006, 06:05 PM

Quote:

Originally Posted by drvasurao85

hi!
how is rcovl-reliance communication looking now on the charts.i have entered at 300 levels what do u expect from the charts.
THANKS FOR ALL THE WOUNDERFULL WORK YOU HAVE BEEING DOING AND ANSWERING ALL THE THREADS
THNKS
DR RAO

Its going really good. Just what I wanted it to do.

What do I expect, its going to pull back next (I am not saying tomorrow). Thats when I will recommend to this thread.

Syn bank
--- Avoid banks for now. They need to come out their sleep and run a lit bit. About Kangaroo tail, probably it is.

BOC
--- Are U saying upside kangaroo tail. I don't know about that.

New Entry - Look at

1. BRFL (I think it might require couple of days for an entry)

I am not getting much in my scan. Getting some Cement stocks, which are reversing.

Czar · #**289** 3rd May 2006, 09:36 PM

Sir please advice entry & exit for siemens & is it broken the H&S pattern..thanks a lot

shethharsh · #**290** 3rd May 2006, 09:54 PM

Hi

I am Harsh . I am just 16 and know very little about stock markets . I also want to become a pro like u in the stock markets . Im presently reading Investment Analysis and Portfolio Managemet by Prasanna Chandra . Ive seen many threads on this site and learnt a lot of names of books from differeent people . Can you please tell me the approach you adopted to become such a pro in this market as well as what would you recommend for me . Can you email me directly at shethharsh@hotmail.com .

It would be of a great help if you advice me what path should i adopt which i am sure you would considering your generous advice to fellow members . Also i would like to know which analysis is better - Technical or Fundamental . I would also like to know how can people actually make huge profits just out of seeing technical charts whereas the basis of a company's share prices are it's fundamentals .

Thanking You ,

Harsh

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