I can help you with stock chart reading

Thanx VVonteru,

Eskay

friends ofcourse
Digital handshakes too..

Eskay

Dear VV,

Can you provide slightly detailed analysis---resistance, targets, entry, exit etc. i really need to erase some loses! Your earlier analysis was indeed helpful.

Sonata: entry point 23.50
Visesh: yet to enter

Thanks in advance.

Kumar

Dear VV,
How do I trade
1.IDFC Entry 53.50?
Thanks!

Nitin

can you give your comments on ONGC AND SATYAM COMP, In what price to buy.

Dear VV, can help me in these stocks whether to hold or sell the following stocks

NRC ltd 300 @ 35
Jindal Photo 50 @ 240
Samtel 300 @ 85

Eicher ltd 175 @ 80
UCAL fuel 120 @ 195
Scandent Solutions 60 @ 212

Arvind Mills 250 @ 85

Sonata: entry point 23.50
I would not have entered this stock. You can get out now or use stop = below Wednesday's low.

Visesh: yet to enter
Avoid
-- Avoid dogs for now. Consider only leaders in IT sector for now. If you can't afford them, may be you are undercapitalized. Undercapitalization will fail you, inspite of good system.

i really need to erase some loses!
-- Trading is a mind game. Try to forget the past. Don't trade to regain loses. If you do, your analysis will be skewed. Trade objectively, with no emotions. Trade because a stock gives you a signal based on set of conditions set forth by you. Ofcourse, this applies to every body (including me. I slip into that trap now and then).

IDFC Entry 53.50
-- Avoid. Stick with Oil and IT sectors for now.

ONGC AND SATYAM COMP
-- I like that you are picking stocks in strong sectors. Somebody is listening!!!
-- ONGC - No momentum. Consider Reliance or Suzlon.
-- Satyam - You lost an entry in the recent pull back. Wait for next one.

NRC ltd 300 @ 35
-- Do we have hope on this stock? Put a stop below the last 2 bottoms. I can't pin point in iCharts. Should be below low of last 10 days.

Jindal Photo 50 @ 240
-- You need renewed bull market to get this up. Take losses if it hits your stop at 80.

Samtel 300 @ 85
-- Same story. Put stop below June 18 low. Take loss this time more as a principle point of view.

Eicher ltd 175 @ 80
-- Put stop below June 15 low.

UCAL fuel 120 @ 195
-- Put stop below June 8th low.

Scandent Solutions 60 @ 212
-- Put stop below June 8th low.

Arvind Mills 250 @ 85
-- Put stop below June 13th low.

You should have got out on all these stocks long back. In fact, you should have never been there in the first place. All the stops are considering the current CMP as buy point. They will no way erase your losses. Look at each stock, trail the stop and get out with loss as gracefully as possible. Also, consider just getting out all of it now. Losses are as important as gains. They will tell you that you did something wrong. They can teach you not to do it again.

Very true... Well said VV.

Eskay

Hi Vvonteru,

While scanning a few charts, I have come across this chart of Radico Khaitan. Could you please explain what's happening with this one? I am completely perplexed For the past so many days, its consistently opening higher and closing lower (the open price is the high for that day...). Would request you/ other seniors to explain this phenomenon.

Thanks,

Pranay

PS: I have no position in this stock, this is just for my learning.

Attached Images

Radico.GIF (82.6 KB, 16 views)

If a stock opens higher then the previous close and then thats the high of the day, its called reversal (not exact def'n). If you want to buy a stock tomorrow, and a stock gaps up open and does reversal, you should avoid the stock. How can we do that. Wait for first 15 minutes to see if the gap is bullish gap. If the stock continues to go up above the opening price, then it is ok to buy.

Why does the reversal occur? Mostly done by the market makers. If they see lot of buy orders at a point, they open the stock up high and get everything. If there is no demand, the stock eventually falls down. But, can't explain why there are so many in this stock. Might be played out daily.