I can help you with stock chart reading

rvgandhi · #**391** 16th May 2006, 02:40 PM

VV what time is it there for you... I believe you are based in the US.. thanks for your support !

vvonteru · #**392** 16th May 2006, 02:42 PM

Quote:

Originally Posted by alok

A bunch of good posts by you Vvonteru... nice.

At this time of nifty crackdown, one should look for less affected sectors like.. real estate, construction, FMCG and possibly sugar....

Vvon, can you tell me about Gammon, Aditya Birla Nuvo and BEML with respect to the current scenario!

Thanks.

Gammon
--It is in trading range between 500 and 550. Till it comes out of 550 successfully (not just break out. It already did that many times and went back to the trading range), avoid this stock.

Aditya Birla Nuvo
--It went down today. The chart is badly damaged. Please avoid buying now. If U insist, buy if it makes 900.

BEML
--Avoid.

Please avoid new positions now.

alok · #**393** 16th May 2006, 04:34 PM

Thanks Vvon for your suggestion.

Alok.

rhk · #**394** 16th May 2006, 07:12 PM

VV,

I entered
RIL@1010
Reliance comm @292
RPL@75

What do you think i shuld be doing on these.

Thanks,
Rohit

kenneth · #**395** 16th May 2006, 08:09 PM

NIFTY PULL BACk

Nifty went below 50 day Ema and has close above 50 dema at the days high showing a hanging man. More ove the price has also gone below BBB and close above. Candle chart shows a hanging man. A clear pull back.

I went through your great mails VVonteru and also noted that are not looking at candle signals. This might be be early signal of reversal.

Regads
Ken

rhk · #**396** 16th May 2006, 08:42 PM

VV,

A very basic question...on your charts u often mark the Enter at and Stop at price. Can you explain these, are you suggesting to buy and exit at those levels.

thanks,

vvonteru · #**397** 16th May 2006, 08:54 PM

What happened today is very good. Market went down by 400 points. Could find buyers to end up positive. This is really good. The trend is intact. Going in tomorrow, it is one of those days, as a buyer we have an edge. As a buyer, U can say, 'I have a high probability of making money tomorrow'. So, we will have a list for buying. In that, the best will be RCVL (Reliance Communication). I will put up a chart. In the mean time, here is the entry for U to look at.

FYI: Just like the market, RCVL had a reversal too. It tested previous trading range and closed at high. This is really bullish.

1. RCVL
entry:310
stop: 280
profit target: 340 (risk) or 350 (previous high)

Quote:

Enter at and Stop at price

--- Yes

Quote:

Nifty Pull back

--- I agree.

RIL@1010
Is it reliance industries? Have a stop at 945.

Reliance comm @292
-- Have a stop at 272

RPL@75
-- There is nothing we can do now. Not enough data to do TA.

rahulg77 · #**398** 16th May 2006, 09:47 PM

Hi VV,

I also feel jai prakash ass -532532 will be a good entry. it is still not made a lower pivot. it has pulled back at the trading range which it was trading between 4th march to 2nd april. a price above 500 would be a nice buy point. and as u had said earlier we can give it some space because of market volatility and also to give space when people wait for it to hit S/L to buy. so S/L can be at around 460 about 40 points or even 450 as that was also a resistance point in beginning of feb.

What are ur views. also keeping that market is in +ve teritory tomm which we feel should be as today buyers took over even after such a big fall.

Rgds

Rahul

vvonteru · #**399** 16th May 2006, 10:06 PM

Quote:

Originally Posted by rahulg77

Hi VV,

I also feel jai prakash ass -532532 will be a good entry. it is still not made a lower pivot. it has pulled back at the trading range which it was trading between 4th march to 2nd april. a price above 500 would be a nice buy point. and as u had said earlier we can give it some space because of market volatility and also to give space when people wait for it to hit S/L to buy. so S/L can be at around 460 about 40 points or even 450 as that was also a resistance point in beginning of feb.

What are ur views. also keeping that market is in +ve teritory tomm which we feel should be as today buyers took over even after such a big fall.

Rgds

Rahul

It has come below the triangle. I would like it to come back to 520. Not just this stock, most of the others' charts have been spoiled due to the market recent (mis)adventure. So, either they come back to their earlier trends or pick up a new trend.

rahulg77 · #**400** 16th May 2006, 10:13 PM

Quote:

Originally Posted by vvonteru

It has come below the triangle. I would like it to come back to 520. Not just this stock, most of the others' charts have been spoiled due to the market recent (mis)adventure. So, either they come back to their earlier trends or pick up a new trend.

Actually I agree with u. I was also aiming at 420 but thought it would make us miss a part of the gain. But its better to be sure than take too much of a risk. Still have to get more discipline.

Rgds

Rahul

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