Some Good Steals...

[mail2joshi]

Ahh...one more important thing Joshi.
My reply yesterday on Rallis:
http://www.traderji.com/41732-post3464.html
There is mention of a H&S there whose 'right shoulder' is at or around 320-325 . I'd written yesterday that it may come up to retest its right shoulder, should this indeed pan out as a H&S. It just may.
So be careful.

Hi Amit,
Many thanks for your help and analysis.

Also PetronetLNG today broke at the last moment with some good volumes.
This is my favourite as this never let me under loss (Touchwood)
(As a rule of trading, never fall in love with any stock, but I think I dare to break this rule only for this scrip)

Any technical update will be highly appreciated.

Regards
sjoshi

 

[rvgandhi]

Also PetronetLNG today broke at the last moment with some good volumes.

Looks like it has reported good numbers for the year

 

[phoenix]

Voltas: Try to pick at 242 on the up for 248.

Hi Amit,
Voltas a super call by you......great job!!!!!!!!Was a BEAUTY today!!

Thanks
Phoenix

Hi phoenix...so happy you took it! Yeah, didn't she fly!!
If you like, gather it on dips. Will travel places in the near term. Perhaps 350.

Hi Amit,

You remember your old call of 240-ish, still in at around 1000.....the beauty of holding on to longs in a bull mkt,and playing the postion trades.

I hope you are keeping fine and in good health.Wishing you all happiness and prosperity.

Phoenix

 

[rahulg77]

Hi Amit,

You mentioned you are consolidation trader. You look for pattern break outs. Is it your own methind or did u read some book to follow this system. If yes pls refer the writers name as I would like to read his system.

Rgds
Rahul

 

[jntrade]

Hi Amit,

Thankyou. Just read through it. So does this difference in the 26 and 12 day EMA at the same price level tell us something. what I have understood is that is the reason why the pull back could have been faster as since it seemed overbought. So would I be wrong if we say at 2 same price levels if MACD is lower then chances of a pull back is less.

Also the chart you attached, the lower section. The blue line is MACD, Red is the signal line. What do the histograms represent. Cause I you bse.com at the moment to read charts.( still have to get my own software) and in that if I choose MACD it only gives histogram and signal line.

I always thght histogram and MACD oscillator line represent the same thing but here in your chart i see when histogram goes negative(below zero) MACD is still above zero.

Pls if you could explain the same.


Rgds
Rahul

Hi rahul,
Just some information.
MCAD is trend follwing indicator.
MACD stands for Moving Average Convergence-Divergence.
MACD-Histogram = Fast MACD line − Slow signal line
When we see bars of MACD-Histogram
rising , they show bullishnes. When the slope of MACD-Histogram
declines ,it indicates bearishnes.
U can get more information reading 'come into my trading room'.
and for software try fchart.(fchartSE is free)

and Amit,am I improving!?

JN

 

[roneeth]

Hello Amit,

'About 24 firms including India Bulls Securities barred from any kind of dealing in Securities market,including I.P.O.'

What could be the impact on India Bulls ?

Thanks and Regards

Roneeth

 

[AMITBE]

Hello Amit,

'About 24 firms including India Bulls Securities barred from any kind of dealing in Securities market,including I.P.O.'

What could be the impact on India Bulls ?

Thanks and Regards

Roneeth

Please, no panic at all.
The news is all the brokerage companies will carry on business as usual.
Clients can execute orders through their brokerage companies.

Markets may open weak, but no worry.
As the morning progresses there should be buying coming back at lower levels.

Indiabulls may take some beating, but again no fear.

All the best.

 

[roneeth]

Hello Amit,

Thanks for the advise.

Regards

Roneeth

 

[AMITBE]

Hello Amit,

Thanks for the advise.

Regards

Roneeth

You're very welcome Roneeth.

Update on Indiabulls levels:
At 258 now, the step-ups are 261-264-267-270.
270 is important to hold.
Above 282-289 it should be back to business, where the next levels are 293-303-310.

Can't say how long, but do keep the numbers and track.

 

[rahulg77]

Hi rahul,
Just some information.
MCAD is trend follwing indicator.
MACD stands for Moving Average Convergence-Divergence.
MACD-Histogram = Fast MACD line − Slow signal line
When we see bars of MACD-Histogram
rising , they show bullishnes. When the slope of MACD-Histogram
declines ,it indicates bearishnes.
U can get more information reading 'come into my trading room'.
and for software try fchart.(fchartSE is free)

and Amit,am I improving!?

JN

Thank you JN. What you have explained I have an idea about that but what i had asked in the my question was a little different. Thank you anyways for showing interest to my query.

Rgds
Rahul