Charts for the Day

[anil_s_trivedi]

Anil Bro I have PunjLloyd at 43.05 can you post a chart and your views on that if possible Thnx in advance

Dear PTji,

Punj lloyd is one such stock who is rising from ashes since many months of consolidation in the range 24-30 odd range.

If i see chart with Relative strength perspective, stock broken up the consolidation phase and volume showing persistent rise with higher levels..also OBV of stock is rising since past few months, its a good indicator of accumulation.

In short term one more attempt towards 49 odds still remains. and stock should hold of 36 levels in near future.

Long term chart for stock are ultra bullish, momentum on weekly if i tell you suggesting immediate tgts for doubling. I know momentum is a laggard indicator, but setups dont reverse overnight, unless some solid bad news is there.

But yes stock looking good on all parameters. There is a short term pullback in it. And i see chasing recent highs of 46.8 above tgting 49 zone.

Stock has given buy on monthly for me. So i will try to see where to enter on any retracement, if at all it comes.
I

 

[praveen taneja]

Isn't Punj Lloyd in the business of defense contracts/manufacturing etc ?? With the new govt. considering 100% FDI in defense, it must be acche din aane wale hain for Punj Lloyd and Praj Ind.

of course, the charts will have their own view.

One more thing company is of BJP leader:thumb:
consolidation and accumulation bahut hua ab to chal bhag chalien taron ki aur

 

[praveen taneja]

Thank you anil bro for detailed view and you precious time

 

[anil_s_trivedi]

 

[anil_s_trivedi]

Dishman pharma stock and right now under a consolidation period. Stock looking good on long term chart for immediate upside till 120-125 zone.

Will look for longs on closer to 78-82 on chart with SL below 78 on closing basis.

 

[jain.er]

Anilji one query for this type of fast moving markets. Stocks which are leading this bull run are moving up too much and tio fast, when to buy them. When they give a small pullback? Like we had last week or when they make a new high? I find difficult to buy stocks which have had a gud run. I generraly buy near supports since mentally its easier to buy at those points...

 

[anil_s_trivedi]

Anilji one query for this type of fast moving markets. Stocks which are leading this bull run are moving up too much and tio fast, when to buy them. When they give a small pullback? Like we had last week or when they make a new high? I find difficult to buy stocks which have had a gud run. I generraly buy near supports since mentally its easier to buy at those points...

Dear Jain,

This problem is more for traders not investors. Bcoz traders dont see anything which run up 20% can still run more. But investors know these very well.

Anyway, it cant be one size fits all approach. You need to study chart, its not that simple, many strong stocks have fall upto 38% retrace only, and starts moving up, it implies a strong undercurrent. Stock falling till 78-80% retrace are susceptible to slower rise.

So, i will tell you one of my simple approach. I shift to higher timeframe chart, see where it can possible land though price action levels of support-Resistance, and take trade when risk-reward favours. I never average falling stock, unless its R:R fall in my overall portfolio parameters.

Many times, i draw price action levels on daily too. Next i see any crucial moving avg nearby, if price shows bouncing action near by, with momentum oscillators rising from slumber, its a perfect buy.

I had three reversal points in my hand for every stock i get into, on daily/weekly/monthly and in addition hourly too, when i try to enter into it.
Also three timeframe momentum, if it favours rise, go with it,else just skip it, unless it come to acceptable R:R.

Try to think every stock entry as whats your R:R into that trade, if it favours its ok, else skip it.

We, as human being influenced by whats going nearby. If we are getting lots of buy reports, we think, why i am not buying into anyone of these. Dont try to impose other view on yours.

If its a buy for you from your analysis, go for it, even if all are crying for SELL.

 

[anil_s_trivedi]

Hellu guys,

i am facing severe net problem since last few days. I am using Reliance net dongle, and its speed is going like a dail up connection from bsnl i use to during 1999-2000 era.

it may b possible, i may not give update frequently, i will try as and when possible. LEts hope problem resolve sooner.

Nifty update:

Yesterdays close was good, and it triggered hourly Up at 7260 zone. Right now hourly weak case below 7310 only.

If its sustains below 7355, it may try for 7310-15, if going by yesterdays close it should hold up 7310 zone.

 

[amitrandive]

Dear Jain,

This problem is more for traders not investors. Bcoz traders dont see anything which run up 20% can still run more. But investors know these very well.

Anyway, it cant be one size fits all approach. You need to study chart, its not that simple, many strong stocks have fall upto 38% retrace only, and starts moving up, it implies a strong undercurrent. Stock falling till 78-80% retrace are susceptible to slower rise.

So, i will tell you one of my simple approach. I shift to higher timeframe chart, see where it can possible land though price action levels of support-Resistance, and take trade when risk-reward favours. I never average falling stock, unless its R:R fall in my overall portfolio parameters.

Many times, i draw price action levels on daily too. Next i see any crucial moving avg nearby, if price shows bouncing action near by, with momentum oscillators rising from slumber, its a perfect buy.

I had three reversal points in my hand for every stock i get into, on daily/weekly/monthly and in addition hourly too, when i try to enter into it.
Also three timeframe momentum, if it favours rise, go with it,else just skip it, unless it come to acceptable R:R.

Try to think every stock entry as whats your R:R into that trade, if it favours its ok, else skip it.

We, as human being influenced by whats going nearby. If we are getting lots of buy reports, we think, why i am not buying into anyone of these. Dont try to impose other view on yours.

If its a buy for you from your analysis, go for it, even if all are crying for SELL.

Anilji

Can you please explain the above with an example along with charts?
Also what is a good measure of momentum for this purpose?

 

[amitrandive]

Dear Jain,

This problem is more for traders not investors. Bcoz traders dont see anything which run up 20% can still run more. But investors know these very well.

Anyway, it cant be one size fits all approach. You need to study chart, its not that simple, many strong stocks have fall upto 38% retrace only, and starts moving up, it implies a strong undercurrent. Stock falling till 78-80% retrace are susceptible to slower rise.

So, i will tell you one of my simple approach. I shift to higher timeframe chart, see where it can possible land though price action levels of support-Resistance, and take trade when risk-reward favours. I never average falling stock, unless its R:R fall in my overall portfolio parameters.

Many times, i draw price action levels on daily too. Next i see any crucial moving avg nearby, if price shows bouncing action near by, with momentum oscillators rising from slumber, its a perfect buy.

I had three reversal points in my hand for every stock i get into, on daily/weekly/monthly and in addition hourly too, when i try to enter into it.
Also three timeframe momentum, if it favours rise, go with it,else just skip it, unless it come to acceptable R:R.

Try to think every stock entry as whats your R:R into that trade, if it favours its ok, else skip it.

We, as human being influenced by whats going nearby. If we are getting lots of buy reports, we think, why i am not buying into anyone of these. Dont try to impose other view on yours.

If its a buy for you from your analysis, go for it, even if all are crying for SELL.

AnilJi

As per your post I have posted charts of BankofBaroda on three different time frames with breakouts.Please guide and advise.

BOB Monthly

BOB Weekly

BOB Daily