Trading Strategies Using Technical Analysis

[drk_411]

Have taken LIC Housing Finance at 1378

SL is 1330-1340 (spot) as of today.

This is a high risk trade and could get stopped out.

Tc

Do you think one could enter at 1330 for a medium term.

 

[SwingKing]

Do you think one could enter at 1330 for a medium term.

Haven't seen it from that angle. Will check it out and will let you know at EOD. Trade taken was only for Swing Trade.

Tc

 

[VJAY]

Dear raunak sir,
Please look wipro...is it in same catogery like you said yday...
Can we go long above 451.85...

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[SwingKing]

Dear raunak sir,
Please look wipro...is it in same catogery like you said yday...
Can we go long above 451.85...

Wipro moved up from 370 to 440 in Jul -Aug. Like colgate, wipro witnessed a nice upmove. But, Colgate consolidated (2-5%) last month, whereas Wipro corrected. This means Wipro despite of moving up had selling pressure prevailing which made it correct for 8-10%. Whereas Colgate simply consolidated representing no selling pressure.

Hence these two are different. We are always looking for 3 things VJAY.

Breakout -Consolidation - Breakout

Tc

 

[VJAY]

Wipro moved up from 370 to 440 in Jul -Aug. Like colgate, wipro witnessed a nice upmove. But, Colgate consolidated (2-5%) last month, whereas Wipro corrected. This means Wipro despite of moving up had selling pressure prevailing which made it correct for 8-10%. Whereas Colgate simply consolidated representing no selling pressure.

Hence these two are different. We are always looking for 3 things VJAY.

Breakout -Consolidation - Breakout

Tc

Thanks sir....these intractions are really help to learn more ,remove wrongs and gain more.....will ask you if anyscrip come to my notice...

 

[MurAtt]

Sterlite ... imo in cosolidation zone ... b/o anytime now .. also can be called Flag Pole formation on EOD.

 

[VJAY]

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[SwingKing]

[URL=http://img823.imageshack.us/i/33480159.jpg/][IMG]http://img823.imageshack.us/img823/1536/33480159.jpg[/QUOTE]


Very Good VJAY. Grasping the concept is important. As far as accuracy in identifying support and resistance is concerned, you will get that with practice.

After the markets are closed, I'll post my version of how and why LIC was taken.

Tc

 

[SwingKing]

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[VJAY]

Sir,
RELMEDIA ...no ban period....you can enter ...as per my broker.....