Trading Strategies Using Technical Analysis

[SwingKing]

Also expecting a late surge in Titan. Let's see if it comes.

Tc

Titan surged about 1.2% since time of posting.

Have exited Titan position at 3343.

Our target has been achieved.

Don't mind losing another 50 -100 Rs gain from here.

Won't be carrying any futures position over the weekend. Though Asian paint seems destined to close above 2780, I will let this trade pass as the spread in October series futures is as wide as 5-7 Rs.

Tc

 

[SwingKing]

Stocks to Focus on for next 1-3 weeks are,

Ashok Leyland
Alstom Projects
BGR Energy Systems
Colgate Palmolive
Titan
Dabur
Tc

I still remain focussed on the list above for next week. 1-2 stocks have been removed due to change in price structure.

The one's mentioned in Red are the one's where I have taken out descent profits. They still remain on the list for the next opportunity. However, I will be more excited if we get a buy from some other stock in this list.

Tc

 

[alroyraj]

I still remain focussed on the list above for next week. 1-2 stocks have been removed due to change in price structure.

The one's mentioned in Red are the one's where I have taken out descent profits. They still remain on the list for the next opportunity. However, I will be more excited if we get a buy from some other stock in this list.

Tc

Isnt Jain Irrigation as thinly traded as Container Corporation?

 

[SwingKing]

Isnt Jain Irrigation as thinly traded as Container Corporation?

Updated it.

Tc

 

[biggles]

thanks alroy for the very detailed analysis.

reg

 

[biggles]

Updated it.

Tc

We could add asian paints, probably??
reg

 

[MurAtt]

Biggles,

I used to give index views on a daily basis in other thread. But now I don't do it. What you can do is you can give your views about the index and I'll correct you if you are wrong. This way you will learn faster.

Tc

Which other thread bro ?

 

[crown]

Namaste Raunak Sir and Other learned members over here

I have taken long position today in Surya Pharmaceuticals @ 280
Chart presented below for your kind reference.

For the past couple of weeks, I have been able to see some success in my endeavor of having some understanding of stock market. It may also be because the Market is going up; and at this time anyone can think of having understood the markets. But, I am trying my best to be as disciplined and clear as possible.

My question/problem is that though I sometime get good entry levels, but do not know how to decide the target appropriately and also have some problems in exiting the loosing trades.

Therefore, I request you to guide me on this with this chart, if it is possible for you to spare time from your busy schedule. This chart is till 23rd Sept 2010 on which base I made entry. Since, I am still not able to figure out the targets, all I do is to keep the very next resistance as my target, which in this case I observed 290 (the trend line resistance) and then 300, being the round figure near previous resistance. Can you please comment and guide me in this regard, if I have chosen the correct levels of resistance.

Further, the very painful problem is the level of buying the stocks. When I decide to take long trade in a script, I dont know how to handle it during the next day, when market opens. What I do, is to buy the script at whatever price it is available (which many times around 2-4 % more than the closing price on which basis I decide); therefore, it is eating most of the profit, which should have been there if I would have been able to enter the trade at appropriate level. Because, many times the script comes down around 2-4% and then I have to wait with tensed mind.

Therefore, is there any idea of knowing that the script may come down after opening at higher levels and then go up. I don't know if I had been able to express my problems; but I do hope that being a very experienced trader, you may have got the point of problem, which I am facing.

Thanks a Ton in Advance for all your guidance

Uploaded with ImageShack.us

 

[crown]

Biggles,

I used to give index views on a daily basis in other thread. But now I don't do it. What you can do is you can give your views about the index and I'll correct you if you are wrong. This way you will learn faster.

Tc

Namaste Raunak Sir,

I have been seriously reading the whole of this thread of yours from the past two days or so. And, seriously talking, I wish I could have gone through the thread earlier before starting my own thread. Because, whatever I learned on my thread with lot of pain, has already been posted by you long time ago; and that would have saved a lot of time.

Therefore, may I take the advantage of posting my understanding of Nifty overhere and expecting your corrective and guiding comments.

Regards

 

[MurAtt]

@Crown

This formation is called a Flag-Pole formation.
The previous rise being called a Pole and the current consolidation as Flag.

B/o from this formation would be above 284 wherein target would be calculated as the size of the pole i.e. roughly 100 pts.

Taking of position would/should have been at lower TL of the flag so as to minimise risk (SL being the lower TL) in case of a failure. In case of b/o and retest at least you have some % margin protection.

Hope this clears your confusion wrt this pattern.


Again there are many patterns in TA and all have mostly target of 100% from b/o levels. Only thing is you need to know which pattern and what to calculate for target i.e. Pole length for Flag Pole, Head height in HnS, Cup height in CnH, Triangle height in Traingle, etc.

For that you can visit investopedia.com and look around ...

:cheers: