Traderji.com


I can help you with stock chart reading

Discuss I can help you with stock chart reading at the Position Trading within the Traderji.com; I am new to this group. But have been trading for 2 years now. I ...


Go Back   Traderji.com > THE MARKETS > Equities > Position Trading



Closed Thread
 
Thread Tools
  #1  
Old 21st March 2006, 02:41 AM
Member
 
Join Date: Mar 2006
Posts: 370
Thanks: 0
Thanked 12 Times in 10 Posts
vvonteru is on a distinguished road
Thumbs up I can help you with stock chart reading

I am new to this group. But have been trading for 2 years now. I do swing trading. I see lot of posts where they need suggestion on buy/sell. I can help.

Give me a stock. I will tell you what to do - Buy/ Short (I don't know why some one would do now, unless if you are day trading) . Or If you are already in some stock and want to know whether to sell, I can help.

I do swing trading. I like site: http://www.icharts.in/home/ to start with, which I got from this group. Please take a look at: http://www.icharts.in/breadth-charts.html. The market in the hindsight will have a deeper correction (more than a pull back). So, be carefull and have stops.
The Following 3 Users Say Thank You to vvonteru For This Useful Post:
gauharjk (22nd October 2010)

Looking for a share broker?

Name:Phone:
Email:City:
State:
Are you a day trader?
  #2  
Old 21st March 2006, 11:34 AM
Member
 
Join Date: Sep 2005
Posts: 236
Thanks: 0
Thanked 6 Times in 6 Posts
harmads is on a distinguished road
Default Re: I can help you with stock chart reading

Hi..
Good to have you on the forum. I have been into stocks for some time now though doing it seriously only for 6 months or so. I am not a trader but an investor though would like to do trading in small way. It is heartening to know you can help beginners. I would like to learn TA and other aspects of analysing a stock, how can you help. I will appreciate.
I am holding following scrips as long term investment and would appreciate your comments on them :

1. Godrej Consumer Prod @ 530
2. Hexaware Tech @ 118.87
3. HLL @ 187.31
4. ICICI Bank @ 498.75
5. IDFC @ 72.27
6. India cements @ 89.88
7. Indian Hotels @ 150
8. Infosys @ 2806.93
9. ITC @ 136.48
10.M & M @90
11.Marico @ 405
12.Ambuja Cement East @ 40
13.TCS @ 1648.09
14.TISCO @ 100
15.TITAN @ 150
16.TVS Motors @ 101.15
17.VSNL @ 379.66
18.Wipro @ 463.96
20 RIL @ 778

I would highly apprecaite if you could give you opinion on these scrips and if any one needs to be gotten rid of.

Thanks
The Following User Says Thank You to harmads For This Useful Post:
ABHIMANYU CHAUDHARY (22nd October 2010)
  #3  
Old 21st March 2006, 09:33 PM
Member
 
Join Date: Mar 2006
Posts: 370
Thanks: 0
Thanked 12 Times in 10 Posts
vvonteru is on a distinguished road
Default Re: I can help you with stock chart reading

WOW. Thats a long list. Hope you have stops for them and took some profits. If not, given the huge run in the market, any slight downturn, can make people jittery and leave their positions. Result, deeper correction and heavy losses.

Now, trading and investing is different. I am a trader using TA. So, my suggestions are based on trading. I will have some detail analysis for first few stocks. Then you will get hang of it for others.

1. Godrej Consumer Prod @ 530 - Great stock with great Chart
Lets say, when you entered this stock, you placed a stop at 450 (below the recent base and taking into consideration the volatility of the stock and below its 50 day EMA). Right now, the stock is at 650. so, you had more than the risk run. I would take 50% off, and move the stop to 530 (break even). So, now you can let the stock run on table's (read others) money. As the stock moves up, move the stop. Make sure you put the stop below 50 day EMA, around 100 rupees (volatility based on price of stock) less than current price and below a recent base.

2. Hexaware Tech @ 118.87 - Not a bad chart. With the current market, I would rather stick with stock pick 1
Take the profits (50% or more) right now. It is making a double top. Previous top is from 2005 March. Remember. In TA, when you select a stock, look at the chart considering data from all years. Then compare the chart with the sector and the market. The reason I like stock pick 1 than 2 is that, stock 1 mimics the market more than stock 2. I did not compare with the sector. Ideally, the sector should also be trending. We want the momentum. We want the wind to sail easily. Avoid the harder stocks. There are so many easy ones like the stock pick 1.
Having said the above, take 50% off table. Put the stop at 120. Safer stop would be at 100. But, if the market is selling sharply, I would move the stop to 120. If the stock breaks the resistence, trail the stop higher.

3. HLL @ 187.31 - Good chart. Current 260. Has resistence from 2000 (but, you will keep stocks from 2000 till now waiting for it go to 260). Its more a technical sentiment.
25 rupees volatility. Take partial profits and move stop to 180. As the stock goes up, trail the stop.

4. ICICI Bank @ 498.75 - Not excited as others. No momentum in banks sector.
I would take partial profits and move stop to 500. There after, trail the stop.

5. IDFC @ 72.27 - Worst Chart. Get out of this stock. As I said, pick stocks that are in good (read Trending) sector and that follow market.

6. India cements @ 89.88
Good chart.
Take partial profits. Move the stop to 120. Lets give some room as the stock has good momentum and then always try 50 day EMA now and then. 50 day EMA is around 140.

7. Indian Hotels @ 150
You already huge profit. If you didn't book it, you are acting as a pig (no offence). Remember the saying, Bulls make money, Bears make money, Pigs get Slauttered. Don't look at your paper money and be happy. Till you book your profits, you will see the money and then one day, you don't have it. Think stock trading as business. If you had profits in your business, will you continue to invest all the profits in the business?, or you will you take some and use it. I would move the stop to 900. In the next leg up, move the stop to 1100.

8. Infosys @ 2806.93 -
I like Satyam computers chart better than Infosys. Compare the two. Then, you will understand what I am talking about. Momentum & Clean Chart.
Put a stop at 2400. When the stock goes up, your next stop would be 2800.

I hope you got a hang of it by now. Any particular question about the stocks below, let me know. But, in general, you are picking good stocks and making right entries. Concentrate on the market, pick right sector and then the right stock. Take profits (always).

9. ITC @ 136.48
10.M & M @90
11.Marico @ 405
12.Ambuja Cement East @ 40
13.TCS @ 1648.09
14.TISCO @ 100
15.TITAN @ 150
16.TVS Motors @ 101.15
17.VSNL @ 379.66
18.Wipro @ 463.96
20 RIL @ 778
  #4  
Old 21st March 2006, 10:59 PM
Member
 
Join Date: Jun 2005
Posts: 142
Thanks: 0
Thanked 1 Time in 1 Post
subratabera is on a distinguished road
Default Re: I can help you with stock chart reading

Please tell me something about MOSERBAER. I personally think that it is a good scrip and will soon make its move. Want your confirmation...

Thankyou

Subrata Bera
  #5  
Old 21st March 2006, 11:30 PM
Member
 
Join Date: Mar 2006
Posts: 370
Thanks: 0
Thanked 12 Times in 10 Posts
vvonteru is on a distinguished road
Default Re: I can help you with stock chart reading

Avoid this stock. Again. Market, Sector, Stock, Clean Chart. I know the market is shooting. I didn't see which sector your stock is it in. I don't have to. The chart is all over the map. Its like a heart beep. beep! beep! beep!.... Like Sine curve. Avoid those stocks. Ask yourself a question. Is the market doing the same. Market is trending at an angle 40 to 70 degrees. Pick stocks like that. Take some from harmad's pick. You don't have to reinvent the wheel. I like Godrej Consumer Prod. Wait for a pull back around 2 to 4 days. Make sure the market has also pulled back (distinquish between pull back and sell off). Go long with a stop 10 rupees or X amount based on the volatility (determined based on the stock price and how much average it moves in a day) above previous high. If you are interested, here are suggested readings on swing trading.

1. Dave Landry's 10 Best Swing Trading Patterns and Strategies
2. Dave Landry on Swing Trading

To get basic ideas of stock trading, I would read
1. Come Into My Trading Room: A Complete Guide to Trading - Elder

More to read
1. Reminiscences of a Stock Operator - Edwin Lefèvre
2. Trading for a Living: Psychology, Trading Tactics, Money Management - Elder's 1st book
Advertisements
  #6  
Old 21st March 2006, 11:53 PM
Member
 
Join Date: Feb 2005
Posts: 43
Thanks: 0
Thanked 0 Times in 0 Posts
drvasurao85 is on a distinguished road
Arrow Re: I can help you with stock chart reading

Quote:
Originally Posted by vvonteru
I am new to this group. But have been trading for 2 years now. I do swing trading. I see lot of posts where they need suggestion on buy/sell. I can help.

Give me a stock. I will tell you what to do - Buy/ Short (I don't know why some one would do now, unless if you are day trading) . Or If you are already in some stock and want to know whether to sell, I can help.

I do swing trading. I like site: http://www.icharts.in/home/ to start with, which I got from this group. Please take a look at: http://www.icharts.in/breadth-charts.html. The market in the hindsight will have a deeper correction (more than a pull back). So, be carefull and have stops.

Hi!
can you give your comments on JJ EXPORTERS.
good activity in the counter.
thanks
rao
  #7  
Old 22nd March 2006, 12:04 AM
Member
 
Join Date: Feb 2006
Posts: 355
Thanks: 0
Thanked 4 Times in 4 Posts
rahulg77 is on a distinguished road
Default Re: I can help you with stock chart reading

Quote:
Originally Posted by vvonteru
I am new to this group. But have been trading for 2 years now. I do swing trading. I see lot of posts where they need suggestion on buy/sell. I can help.

Give me a stock. I will tell you what to do - Buy/ Short (I don't know why some one would do now, unless if you are day trading) . Or If you are already in some stock and want to know whether to sell, I can help.

I do swing trading. I like site: http://www.icharts.in/home/ to start with, which I got from this group. Please take a look at: http://www.icharts.in/breadth-charts.html. The market in the hindsight will have a deeper correction (more than a pull back). So, be carefull and have stops.
Hi,

How u doing? What would your view be on Riddhi Siddhi@173. JP Associates@490, IPCL@265, Colgate@412, Ankur Drugs@171. Almost all shares are down right now. what do u suggest.
  #8  
Old 22nd March 2006, 01:23 AM
Member
 
Join Date: Mar 2006
Posts: 370
Thanks: 0
Thanked 12 Times in 10 Posts
vvonteru is on a distinguished road
Default Re: I can help you with stock chart reading

JJ EXPORTERS - I couldn't find the scrip. What does JJ stand for. Or give me the symbol.

Riddhi Siddhi, JP Associates, Ankur Drugs- Couldn't find the scrip. Give me the symbols.

IPCL@265 - Buying high is a fool's game. When you buy high, what you are expecting is that another fool will come along and buy it from you at even higher. The guy who bought at pull back or at 50 day EMA will run all the way to the bank by sell the shares to you. You like that? So, next time, buy at pull backs or given the volatility of the current market, buy at 50 day EMA.
Positive: Having said the above, hopefully the bad times are over. 8 day EMA has crossed above 50 day EMA. MACD is showing bullish. There will be slight pull back before the stock takes off.
Negative: Trend line has been broken. It may depend also on the general market. Index is moving up. Stocks are not. See Advances versus Decliners chart comparision with Index chart.
So what we do. We put a stop. Conservative - 230. You want to give some room, 220. All depends on the market and the sector in which this stock is in. Frankly, there are no enough tools to see the sector chart.

Colgate@412
Good chart. Be careful of the 50 day EMA. In this kind of bull market, stocks always test 50 day EMA and have high volatility. 50 day EMA for this stock is 369. I would put a stop at 400. Hopefully, the stock comes out of the pull back. Based on your risk (hopefull you thought at some loss, you would come out of the stock), take partial profits. Lets say, when you entered at 412, your stop was at 380 (base below previous pull back), your risk was 32 rupees. So, at 444, you would take 50% of profits, and trail the stop on the remaining shares. Hope you got the idea.

sensex / nifty & software sector on the short side
I couldn't see the software sector. Let me know of the tool you are using to see charts of sectors.
About sensex & nifty for short. You can Buy, Sell, Short & Cover stocks. But, there is time to Buy, time to Sell, time to Short and time to Cover. Trying to pick top is a loser's game. Many tried that and lost shirts. Always first allow selling to happing first (I forgot something, Profit Taking. Do you know profit taking is different from selling?). Then, depending on the percentage of % drop (above minimum 7%. Conservative 10%), how much the stock has recovered, and based on the volume of recovery (volume must be low for recovery versus sell off), you would decide to go short.
Ofcourse, there are other patterns (Double Top, Head & Shoulder's) under which you can decide to go short.

I don't think charts are showing that. Sooner are later, I believe they will set up that patterns seeing the advances versus decliners chart versus the indexes chart.
  #9  
Old 22nd March 2006, 10:18 AM
Member
 
Join Date: Sep 2005
Posts: 236
Thanks: 0
Thanked 6 Times in 6 Posts
harmads is on a distinguished road
Default Re: I can help you with stock chart reading

Hi vvonteru ..

Thanks a ton for your time..and advice.

I have already booked profits ( as suggested by you) on all the veterans like TISCO,Indian Hotels,TITAN & M&M as these were my 10 year old holdings. Only from these earnings I have restared buying since Oct'05 (sensex level 7-8000).
My main aim at buying (at the moment) is to invest in good stock for a long term (2-5 years) so that they give me dividents,bonus,rights and appreciation. Before buying I look at the sector, then company's products,its performance, owners/directors and their qualifications and finally its graphs.

I do want to start day trading and before that I want to pick up knowledge of TA etc and would greatly appreciate any inputs in that respect.

Best regards
  #10  
Old 22nd March 2006, 03:58 PM
Member
 
Join Date: Feb 2005
Posts: 43
Thanks: 0
Thanked 0 Times in 0 Posts
drvasurao85 is on a distinguished road
Arrow Re: I can help you with stock chart reading

[QUOTE=vvonteru]JJ EXPORTERS - I couldn't find the scrip. What does JJ stand for. Or give me the symbol.




hello
jj exporters is a textile silk stock in the bse
JJ Exporters
BSE: 530049 NSE: -- ISIN: INE408B01015
Industry : Textiles - Silk
thanks
rao
i would be very happy if u can give me your tech.analysis on this stock.different resistance levels
Closed Thread

Bookmarks


Advertise Here

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: I can help you with stock chart reading
Thread Thread Starter Forum Replies Last Post
The Art of Tape Reading- part 1 sh50 Technical Analysis 6 23rd January 2011 03:45 PM
Down Load of Data for Meta Stock or FC Chart Jayesh Software 9 29th July 2010 06:46 PM
Tape reading susheel04 Technical Analysis 24 17th September 2009 12:00 PM
General reading for traders CreditViolet General Chit Chat 4 27th October 2004 12:22 AM


All times are GMT +5.5. The time now is 04:11 PM.

Indemnity, Disclaimer & Disclosure Notice:
* By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
* Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
* Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
* All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Our Partner Websites: www.chittorgarh.com, IPO Investment Portal | www.topsharebrokers.com, Broker Comparision
Copyright © www.Traderji.com 2001 - , All rights reserved.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270