Saint's Thread followers - Identified UpTrends/ DownTrends

[Saint]

Hi Satish,

Anything that I am am abt to say should not be misconstrued in any other way but as a friend helping out.I had stayed out of the discussion but realise that sometimes keeping silent may be more wrong than right.

My take on KRBL.

My first is KRBL Limited.

Basics : Stable and consistent growth. Check out the weekly charts.

Other Points : Good to moderate volumes last 5 weeks.

Weekly Trend : Not clear. Downtrend is in Question. Good Rally towards the 128 areas. Up trend confirmed if rally breakout on the resistance at 150 levels. Uptrend here can be identified if a new pivot low is made above the current pivot low at 78.83. Am I right so far? Saint if you are reading this please don't kill me if I am so gross.

Few things......the weekly trend is clear.KRBL has broken below the previous pivot lows.Clear cut.KRBL is in a primary downtrend.This current rally is just that.......a rally within a downtrend.Not an uptrend.KRBL needs to do much more,maybe a long sideways move from here,or a further dump.Now,as you said,if you get a higher pivot low here,expect an intermediate uptrend,but matter of time before the primary downtrend weakness sets in,and then time to expect lower prices.

If you want to play the intermediate to long term,make sure that the primary trends are in an uptrend,and buy the intermediate downtrends...........once the stock gets into a longer term downtrend,not worth putting your funds into that stock.

Daily Trend : UpTrend. Higher pivot lows and highs clearly visible. There are two buying opportunities identified using Green Arrows. The first one because it has taken out the previous bar's high. The second opportunity is a repetition of the previous opportunity except that the bullish candle has taken out the previous high in the first instance. Please can someone comment on my trendlines/support and resistance and let me know if my support and resistance identification is correct and also my trendlines

.

Still forming a higher pivot low.......you may even get a short term to an intermed term up move.If you are a short term trader,Great.....If you are a longer term player,and looking for KRBL to make new highs,CAREFUL,my friend.Not saying that it definitely cannot......anything is possible in the markets.But unlikely from here......

If you are a long term investor,and do not mind a further dump to lower levels,then nothing to worry........or else,be very careful.

Weekly chart of KRBL attached

All the best!
Saint

[Saint]

Originally Posted by satish_goteti

Nope I dont have any position on this stock. I was only following this chart for quite sometime and applying learnings from Saint's teaching

Ouch,my friend........haven't we discussed many a time that a break in trendlines questions that trend,and a break in pivots confirm a downtrend.Haven't we also gone through that once one confirms a downtrend,our mentation is all abt "Selling Rallies",and no more on Buying Dips.We had also discussed that the most important requirement in successful trading is that the primary trends have to be in an uptrend before one can go buying dntrends on the intermed frame.

Not really..I think I quoted it wrong. I did not mean fundamental the way you guys mean. Looking at the weekly chart and the way it has moved over the time from a technical standpoint I saw this to be a stable stock except for the last few weeks. This is purely as how the eye sees it. I will change that text. Phew.

The last few weeks was everything,my friend........a break in longer term trendlines,a break in pivots on weekly and monthly charts,and on higher volumes makes this look more and more like a primary dntrend...

Please do not misunderstand any of the above other than what it really is.......just concerned and worried that you or any beginner reading this thread may have jumped into this stock.For an intermediate to long term trader,it's sacrilege and very extremely dangerous into buying in a primary dntrend until we get a clear signal.

Wishing you all the very best!

Sincerely,
Saint

[Saint]

Please underline the word moderate. You guys are reading too much into my lines...Is this a sign for me to shut up?

Never shut up,my friend.........we do not learn if we bottle up all our doubts.So keep talking,get your DOUBTS RELIEVED,get SOME GOOD STEALS,doit again and again,make sweet profits and laugh all the way to the bank.

Good Luck,and all the best!
Saint

[Saint]

Originally Posted by pkjha30

Truth springs from argument amongst friends.

--- David Hume:

Very nice,my friend,as always!

Saint

[karthikmarar]

Originally Posted by Saint

Never shut up,my friend.........we do not learn if we bottle up all our doubts.So keep talking,get your DOUBTS RELIEVED,get SOME GOOD STEALS, latch on to an INTERMEDIATE UPTREND and do it again and again,make sweet profits and laugh all the way to the bank.

Good Luck,and all the best!
Saint

Saint... Just a small Modification to you post...

[gobatman2001]

Originally Posted by Saint

Never shut up,my friend.........we do not learn if we bottle up all our doubts.So keep talking,get your DOUBTS RELIEVED,get SOME GOOD STEALS,doit again and again,make sweet profits and laugh all the way to the bank.

Good Luck,and all the best!
Saint

Hi! Saint,

I have no words to express how grateful I am by helping newcomers like us.

All I can say is May God shower his blessings on you!

A million thanks & warmest regards,
Amit

[vachhanipm]

Hey Saint !!

You are real magician. You came, write few words & clear all the doubts. I have never seen such a terrific explaination power. Why dont u start a institute on technical analysis.
'Saint's Institution Of Technical Analysis'.

regards,
Pankaj

[Saint]

Originally Posted by karthikmarar

Saint... Just a small Modification to you post...

[Saint]

Originally Posted by gobatman2001

Hi! Saint,

I have no words to express how grateful I am by helping newcomers like us.

All I can say is May God shower his blessings on you!

A million thanks & warmest regards,
Amit

Thank you for your kind words,my friend.........sincerely appreciated and wishing you all the very best on your path to Trading Mastery.

Saint

[Saint]

Originally Posted by vachhanipm

Hey Saint !!

You are real magician. You came, write few words & clear all the doubts. I have never seen such a terrific explaination power. Why dont u start a institute on technical analysis.
'Saint's Institution Of Technical Analysis'.

regards,
Pankaj

Hi Pankaj,

No magician ,my friend.Just like everyone else here,a student of the mkts...........................And,as for the institute bit,lol,think there are enough great books and "gurus" out there who desperately need to eke out a living by teaching other traders to trade(anything so long as they wouldn't have to trade the mkts themselves!!).Poor chaps

Let us instead learn this great art of chart reading and steadily and regularly,pull profits out of the markets.

Wishing you all the very best.......

Saint