I can help you with stock chart reading

vvonteru · #**891** 23rd August 2006, 07:58 PM

Quote:

Originally Posted by simpleman

HI VVONTERU,
Want your comments on classic diamond, esabindia, patel road and patel on bor.
CLASSIC, PATEL ROAD and PATEL ON BOR are in uptrend and have also pulled back.
When should I enter?
ESABINDIA also has broken out of its trading range but is having resistance at 400.
Waiting for your reply.

CLASSIC
-- Went above the pull back. If you want to enter now, adjust position size and stop. However, I am avoiding stocks that are far from 50 day EMA (unless it is bull market we have seen before). They have scope for correction. I would have liked 1 more day of pull back for entry. Now, that doesn't mean CLASSIC is not going to do good. I am just avoiding those trades to reduce risk.

PATEL ROAD
-- Avoid. Too many gaps. Not tradable.

PATEL ON BOR
-- This has gaps too but tradeable. Already cleared previous pullback. If you enter now, adjust position size accordingly.

ESABINDIA
-- Wait for next pullback.

Dabur
-- Will it go to 150? No body knows. Since you bought (believed) into it, give it a chance (stop) to check whether what you believed is right or wrong. So, have a stop considering ATR = 4. Max Stop limit = 3 * ATR. Max Stop = 143.50 - 12 = 130 (around) which is close to previous base. Just a suggestion.

Bajaj Hindustan at 331.00 for Intraday Trading, keep for week
-- I normally avoid doing that. If you start a position for intraday, never get tempted to keep beyond EOD. You will mess up as both analysis are different. I don't like this stock for EOD trading. If it has to survive, its going to be only based on double bottom.

Bom Dyeing? CMP 680
-- I don't know if it is manipulation. But, there has been high (twice) volatility in the last 10 days of trading with high volumes. Once you are in a trade, there is nothing you can do. Think before you put in a trade. After you do it, do not get swayed by daily activity. Just put a stop and trail it. If it hits, you get out.

vvonteru · #**892** 24th August 2006, 12:18 AM

Nice Article on Stop Loss:
http://www.traderji.com/trading-psyc...s-my-boss.html

Market:
My feelings (fear) tell me it is going Czar way. But, until 3200 of Nifty is taken out, lets be positive. If you have taken a position recently, honor your stop loss.

Czar · #**893** 24th August 2006, 08:29 AM

lol thanks for giving bearish monopoly to me...

vvonteru · #**894** 24th August 2006, 07:38 PM

Quote:

Originally Posted by Czar

lol thanks for giving bearish monopoly to me...

Not so easy!!! I am bearish on U.S markets due to thin volume and sector action. They are going up to be shorted. But it is different in case of Indian Markets. Good sector action and good volumes in stocks in the recent uptrend. But, I admit anything can happen till it happens.

Look at some stocks in OIL sector.

BPCL
HINDPETRO

As usual, pick only 1 as they both belong to OIL sector. Look at those volumes in these stocks in the recent uptrend.

Czar · #**895** 24th August 2006, 08:08 PM

i usually prefer ioc (indian oil) to bp/hp more underlying strength & less manipulation, better co.

reg. US be assured if you feel shorting US markets the indians will follow suit, the volumes here can be more easily manipulated here remember

vvonteru · #**896** 24th August 2006, 08:17 PM

Quote:

Originally Posted by Czar

i usually prefer ioc (indian oil) to bp/hp more underlying strength & less manipulation, better co.

reg. US be assured if you feel shorting US markets the indians will follow suit, the volumes here can be more easily manipulated here remember

IOC looks good. Same pattern as bp and hp.

GKHERA99 · #**897** 24th August 2006, 11:28 PM

thanx vvonteru pl tell me regarding metastock.is it free download or paid and link for the same.I WANT UR VIEWS ON ALOK TEXTILE .I AM BULLISH ON IT AS OPEN INTEREST HAS ALSO OFF LATE INCREASED.REGARDS

vvonteru · #**898** 25th August 2006, 12:20 AM

Quote:

Originally Posted by GKHERA99

thanx vvonteru pl tell me regarding metastock.is it free download or paid and link for the same.I WANT UR VIEWS ON ALOK TEXTILE .I AM BULLISH ON IT AS OPEN INTEREST HAS ALSO OFF LATE INCREASED.REGARDS

I buy the data from metastock website. Link:
http://www.equis.com/products/endofd....aspx?overview

Alok Textile:

Its going sideways for now. Wait for it go above 65.

agupta · #**899** 25th August 2006, 10:58 AM

Any views on IGL (Indraprastha Gas Ltd.)? I have entered at 112 and CMP is 118.

timtomlee · #**900** 25th August 2006, 12:24 PM

HI VV,

I HAVE TRIED TO ELABORATE ON YOUR 8 DAY EMA,50 DAY EMA,200 DAY EMA
CONCEPT BY GIVING VALUES TO "TWO DIFFERENT MACD INDICATORS" IN
ICHARTS.IN

1 ST. INDICATOR - MACD(8,50,1)
2 ND. INDICATOR - MACD(50,200,1)

IF 1ST. INDICATOR IS BELOW "0" VALUE, THAT MEANS 8 DAY EMA BELOW
50 DAY EMA, BEARISH FOR INTERMEDIATE TERM.

IF 2ND. INDICATOR IS BELOW "0" VALUE, THAT MEANS 50 DAY EMA BELOW
200 DAY EMA, BEARISH FOR LONG TERM.

NOW, AS 1ST. INDICATOR IS RISING ABOVE "0" VALUE, AND 2ND. INDICATOR IS BELOW "0" VALUE, WE MUST BE CAUTIOUS BEFORE ENTERING THE MARKETS, i.e., WAIT TILL 2ND. INDICATOR ALSO RISES ABOVE "0" VALUE.
IF THE ABOVE TWO CONDITIONS SATISFIED, WE CAN GO LONG.

ALSO, IF BOTH THE INDICATORS ARE ABOVE "0" VALUE FOR A LONG TIME, AND 2ND. INDICATOR'S VALUE IS MORE THAN 1ST. INDICATOR'S VALUE,
WE MAY EXPECT "CORRECTION" ANY TIME. WE CAN ALSO DO THIS BY
VISUAL INSPECTION BY SEEING WHETHER 2ND. INDICATOR IS TRENDING MORE THAN 1ST. INDICATOR.

HOPE THIS HELPS. CORRECT ME IF I AM WRONG.

KINDLY REPLY

REGARDS,

SONU M.

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