How true are these tips..

#1
Various websites,newspapers,friends and paid or free tips providers give some trading tips/ideas,
how true are these.

For the start let me post the tips.. you also post your question..so our seniors can share their views or answers with us.

ITC LTD on the verge of breakout..can buy above 325..upper side resistance at 328,330... use stop loss 323.

PNB holding at strong support. Close watch below 593.

Tech Mahindra will have strong resistance at 1910,1930..downside can buy around 1870 with sl of 1855.

Ranbaxy will have strong support at 455,450. upper side can sell around 468 with sl of 472.

Please do not start with, from where I got these or from where I copied, or do not buy these tips or anything else..

Please share your views related to technical analysis form learning perspective. :thumb:
 

manishchan

Well-Known Member
#2
Various websites,newspapers,friends and paid or free tips providers give some trading tips/ideas,
how true are these.

For the start let me post the tips.. you also post your question..so our seniors can share their views or answers with us.

ITC LTD on the verge of breakout..can buy above 325..upper side resistance at 328,330... use stop loss 323.

PNB holding at strong support. Close watch below 593.

Tech Mahindra will have strong resistance at 1910,1930..downside can buy around 1870 with sl of 1855.

Ranbaxy will have strong support at 455,450. upper side can sell around 468 with sl of 472.

Please do not start with, from where I got these or from where I copied, or do not buy these tips or anything else..

Please share your views related to technical analysis form learning perspective. :thumb:
My perspective, some of these tips may be right but you will see them factored in already and by the time you act on it, they will already have occured. Almost same applies to the TV analysts views. Best thing to do is learn by experience, books, market etc etc on how to analyse stocks/moves than to just blindly follow someone's tips no matter how accurate they are. I believe in learning how to fish rather than enjoying the fish on someone else's account. :D
 
#3
My perspective, some of these tips may be right but you will see them factored in already and by the time you act on it, they will already have occured. Almost same applies to the TV analysts views. Best thing to do is learn by experience, books, market etc etc on how to analyse stocks/moves than to just blindly follow someone's tips no matter how accurate they are. I believe in learning how to fish rather than enjoying the fish on someone else's account. :D
Yes, my next question exactly...

How do we analyse.. ??

Just my view..
There are so many scripts.. when beginning to learn the market, its not possible to know which script to use to learn.
TV or news paper or something.. we come to know abt the script. then may be what we learn, we try to select those script.

Suppose I chose nifty to learn or BNF or TCS or HCL or INFY or DLF or any..
after some time may be we will know what.. but where to start..when learning :sos:
 

manishchan

Well-Known Member
#4
Yes, my next question exactly...

How do we analyse.. ??

Just my view..
There are so many scripts.. when beginning to learn the market, its not possible to know which script to use to learn.
TV or news paper or something.. we come to know abt the script. then may be what we learn, we try to select those script.

Suppose I chose nifty to learn or BNF or TCS or HCL or INFY or DLF or any..
after some time may be we will know what.. but where to start..when learning :sos:
You are in the same boat that I was a year ago. If you see my history, I didn't even know what nifty future was last year in Jan :). Im still amature but I know what works and what doesnt. I will share what I did when I was in ur situation

Things I learnt first : candlestics, support resis n hw to draw them, buying patterns, selling pattrrns, common occurring patterns, indicators and how to use them.

Books I read, I don't realy hv count but were from Jesse livermore, Gann, Bryce Gilmore, Albrooks etc etc

While i did all above, i also followed with the charts to see if they do occure in d market. To start wid, just just followed nifty.
 
#5
You are in the same boat that I was a year ago. If you see my history, I didn't even know what nifty future was last year in Jan :). Im still amature but I know what works and what doesnt. I will share what I did when I was in ur situation

Things I learnt first : candlestics, support resis n hw to draw them, buying patterns, selling pattrrns, common occurring patterns, indicators and how to use them.

Books I read, I don't realy hv count but were from Jesse livermore, Gann, Bryce Gilmore, Albrooks etc etc

While i did all above, i also followed with the charts to see if they do occure in d market. To start wid, just just followed nifty.
So what happened, did those study happen in nifty..
Are you trading now or still only learning (I mean it all in good way)
 
#6
Various websites,newspapers,friends and paid or free tips providers give some trading tips/ideas,
how true are these.

For the start let me post the tips.. you also post your question..so our seniors can share their views or answers with us.

ITC LTD on the verge of breakout..can buy above 325..upper side resistance at 328,330... use stop loss 323.

PNB holding at strong support. Close watch below 593.

Tech Mahindra will have strong resistance at 1910,1930..downside can buy around 1870 with sl of 1855.

Ranbaxy will have strong support at 455,450. upper side can sell around 468 with sl of 472.

Please do not start with, from where I got these or from where I copied, or do not buy these tips or anything else..

Please share your views related to technical analysis form learning perspective. :thumb:
Looks like you are new to the markets. These so called "calls" are analysis done by some TA and there is ALWAYS ONLY 50% chance of them working.

It is better you do your own analysis than following somebody else.

Learning to analyze market and finding a edge is REALLY hard and you think you can just take on some call and make profit in the long run, you must be dreaming.

Bottom line ------- learn to do your own analysis and don't waste time on calls.
 

manishchan

Well-Known Member
#7
So what happened, did those study happen in nifty..
Are you trading now or still only learning (I mean it all in good way)
Yes.. but I had to give lots of screen time, work on my money management. For the last 5-6 months, I have been trading very selectively. I take the trade only when I'm sure and very strict with SL (except for a few bad time).

So coming back to your point, it's no use following someone no matter how experienced the person is. Learn from others but create your own path learn hw to drive on your own. All the best !! :thumb:
 

Einstein

Well-Known Member
#8
Looks like you are new to the markets. These so called "calls" are analysis done by some TA and there is ALWAYS ONLY 50% chance of them working.

It is better you do your own analysis than following somebody else.

Learning to analyze market and finding a edge is REALLY hard and you think you can just take on some call and make profit in the long run, you must be dreaming.

Bottom line ------- learn to do your own analysis and don't waste time on calls.
agreed on most of the part, but still have a question.
Doyou think that an average joe should learn such trick, rather then listening to analyst who spent their whole life learning to such tricks???

I mean one can just subscribe to his call with a small fee?? Technical analyst generally have 10s of years of experience don't they?? thats why they shows up on TV.????
 
#9
agreed on most of the part, but still have a question.
Doyou think that an average joe should learn such trick, rather then listening to analyst who spent their whole life learning to such tricks???

I mean one can just subscribe to his call with a small fee?? Technical analyst generally have 10s of years of experience don't they?? thats why they shows up on TV.????
Trading is not a trick, its a business.

Now since its a business, don't you think taking calls from unknown person is risky or detrimental to your business?

TA on TV are not real traders, if they were they would not be on TV. instead they would be trading during market hours.

Anyone can take course on TA and call himself a TA , but being a trader is a whole different thing.

TAs on TV give very generic advice and calls and they can work or not, chances are always 50/50. They will tell you where and when to enter/exit. But they will not tell you how to manage your trades. Managing the trades is the hard part, anyone can enter/exit a trade.

Most people in this business don't want to work hard, they want the easy way out and expect to make a lot of money.

Just think, if you were a trader , would you be on TV giving calls or making money?
 

Einstein

Well-Known Member
#10
hmm.. Didn't they were trader themself before giving calls on TV?? I mean they failed. after years of technical analysis, they fail.. they all failed.
 

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