I can help you with stock chart reading

vvonteru , temme how is edwards and john magee's technical analysis book and which according to you is the best way or book to learn TA for beginners

Harsh

Sir, I saw some charts like siemens / satyam / Reliance / reliance capital, they seem to be forming an inverted H&S, is is a possibility ?

I don't know about H & S pattern forming in these cases. But, I do see macd divergence (go by case by case basis) and histogram popping up positive with lines crossover. Avoiding shorting to be on safe side or use discretion in position size. That no way means, buy signal. There are some times in the market where U just stay aside. This might qualify as one, till a decisive market direction emerges.


edwards and john magee's technical analysis book
--- I did not read them.

hi
i think u r a good swing trader. can u please refer me some good sites on swing trading

Refer to online books specified 6 replies earlier. Search this thread for books online.

Can you please help me with these stocks? I have been holding some of them for quite sometime but don't see any momentum. Should I get rid of these stocks?

1. Alok Textiles @73.98
2. Andhra bank @ 90.00
3. UCO Bank @ 26.60
4. Reliance Petroleum @ 65.5
5. Air Deccan @ 90


Thanks for your views and opinions.


Regards
Satish

Before I delve into it, you should know that I suggest how I will do it. May not be right for you. Use your judgement. I will suggest you to get out of all right now as best a possible. Use this jump in market to do that.

Most of them don't realize. Markets will always be there. Traders experience a feeling of missing out. They go on buying spree when market is in downtrend. You have to play that trade differently. You have to be quick in taking profits on that trade. Do not make this short term play a long term. Markets didn't fall for no reason, if they have to go back up so fast. On the other side, you can choose to stay out of the market and come back when 8 EMA crosses up 50 day EMA or using BOW TIE pattern (crossover of 10, 20, 30 EMAs).

1. Alok Textiles
Trend line was broker around 75. Alok closed today at 65. Looking at the chart, I am hopefull that it will break even. This is also based on the market short term bull outlook. But, you never know. Take partial position out. On remaining, take them out on break even (75) or if 60 levels are breached.

2. Andhra bank
Difference is Rs30. Take partial out. Remaining, trail the stop at 55. Lets target for around 70.

3. UCO Bank
Its exactly at same point when it started back in Oct 2003. Very hard to tell what to do in this case. It has support at this level. But, the stock is in downward mood. I will leave this on you.

4. Reliance Petroleum @ 65.5
Couldn't get this chart on iCharts. I will get back to you on this one.

5. Air Deccan @ 90
Couldn't get this chart on iCharts. I will get back to you on this one.

As you realize from above response, its very hard to say when things are so bad. I am used to seeing things in the right way. I choose when to get in and when to get out. There are no doubts in that. When presented with a chart that is different, it is very hard to say. From my methodology, you were not supposed to be in these stocks. If you are, then you need to get out with as little damage as possible. Use approach of taking partial loses and trail on the remaining ones using the low of last 10 to 20 days.

Even though a lot of ppl have said it time and again.I will say again,VVonteruji u r the man.Even if one may not learn any tecnicals from your posts,one can have that learning of psychology behind the markets.
Hats off to you.

Sir, reliance petrolium & deccan dont bother as they are recently listed so no chart yet...

Thanks vvonteru for your advise. I will see the stock movement and exit these stocks as soon as possible.

Regards
Satish