rahulg77 said:
Hi Amit,
Some movement coming in Shanthi gear inspite of the fall in market. I feel two levels to watch would be 85 and 87.5. A close above the latter would be +ve for it. I am not able to understand volumes. Every companies share has different volumes. So what is a good volume. Though what I noticed in this script is that last two trades volumes are a little more than what it has been previously except for that on 26/04/06. Please your view on the same would be appreciated.
Also do u see any formation. I see a small ascending triangle formation in the last part of the script. Sorry cannot attach the file as do not have a charting software of my own and use bse site for this purpose.
Rgds
Rahul
Hi Rahul,
Couldn't resist posting, So I am posting my observations. Amit will be correcting me.
You could see today volume surge of 5% over the previous day and making higher highs and high lows gives us as a indication that there was something in the scrip.
Volumes can be used in 2 different ways. Zero based Volumes and Relative Adjusted Volumes.
Relative ADjusted volume is the volume that is substracted from the lowest volume that occured in a trend or period. It helps u to see the trend in volume.
May be the entry above 87 would cause a small pull back before it takes news highs. 92 would be the strong resistance points, already it trieds and it might be tested again. So the entry above 87 is not recommended from my point of view. Enter in the lows of the trading ranges or it takes above the trading range i.e. trending range.
Its my observations and Amit would be adding important points to it.
Regards
Raj