Technical Analysis - Stock Pick

#2
Nice consolidation with a breakout on Friday....sweet buy over the high of Friday.But if the Friday bar b/out fails and the low is taken out,may be an equally nice short.Always sweet to short a failed breakout.A wait and watch for now.
 
#3
Looking more bearish now after market close.....that whole breakout bar on Friday has been nullified today.Was looking juicy after Friday ....don't think so anymore!!
 
#5
BOI looks to me a overbought share. No clear cut trend line visible at present. On candlestic a Bullish formation is visible on 1/06/05. Would like to wait till more clear pattern is visible.

jnaik22
 
#7
Dear jnaik22

could you tell me the right way of buing shares in quantity. Can I buy in numbers like 20 , 50, 100 or 500 ... in the shares where the price is steadily increasing.

ganapathy
 
#8
ganapathy said:
Dear jnaik22

could you tell me the right way of buing shares in quantity. Can I buy in numbers like 20 , 50, 100 or 500 ... in the shares where the price is steadily increasing.

ganapathy
I normally follow the rule of 1/3. Whatever you want to buy depending on your sector wise exposure and total investible amount,if say I decide to buy 300 shares of IDBI. I will first buy 100. If the market is going up as per my trend anticipation, i buy again 100. if the market starts moving against trend ,I stop. and put stop loss. If it again goes up I again purchase rest of 100.

Experience traders advice me that if you are long,then each new trade should be on a higher side. If u are short each new trade should be on a lower side.Please do not and I repeat do not fall in the trap of averaging out. Unless you have a 2 -3 years long term view.

jnaik22
 

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