Charts for the Day

[ghanaga]

Thanks Sir...

 

[manojborle]

My view on NMDC, please keep in mind this before shorting at 183 levels.

Regards

Manoj

 

[manojborle]

ONGC looks to be a good short for a week or 2.

 

[jain.er]

Anilji I understand how to buy on dips/support.

But I dont not understand how to buy breakouts, do they make sense or are they risky since most of them fails. Let us know what do you think?

 

[ghanaga]

Thanks Manoj. I have closed the position at the close. thx

 

[anilnegi]

Anilji I understand how to buy on dips/support.

But I dont not understand how to buy breakouts, do they make sense or are they risky since most of them fails. Let us know what do you think?

sir

we still dont know how to buy on dips/support, pls elaborate this

anil negi

 

[anil_s_trivedi]

Anilji I understand how to buy on dips/support.

But I dont not understand how to buy breakouts, do they make sense or are they risky since most of them fails. Let us know what do you think?

Dear jain,

One category of traders earlier minted money trading..called turtle trading..which buys breakouts...

Other category..called plays Turtle soup...which fades the same...

So there is a space for both..or not..??

Infact problem here on traderji forum, is almost one get 'n' number of strategies...but how many have been backtested...or are they curve fitted for the period under consideration...and one fine day...go bust...So i take everything with a pinch of salt...

Now whether to trade breakouts or no..??

If one have feeling of underlying strength shown by chart, yes definately one should go for it. Understanding how price reached to test that breakout region is of prime importance, if one considers price action as only tool...

I mean if prices coming with gaps, and not an exhaustive one..with strong candles in direction of trend..i considered engulfing and outside bars as strong ones, as they set intention of players out in the open.

Also when market run away too far, it shows sign of fading. How..??
Watch any average like 50sma or like it. If it price already have run too far from it, then likely pullback to average or waiting till average comes up, is the move...so breakout under such scenarios is ..under doubt...

Now, how i trade it..

I consider every trade with R:R. If i had lower risk on breakout, i go for it...
Ultimately it should not hurt more, if trade goes wrong..is the motto here...

I can tell you 'n' ways of seeing price near breakout..but you need to have your plan in place...

I also see, How stock moving along with it peers. Its strength with index...etc..etc...

 

[ghanaga]

Anil Ji, Can you please comment on SUNTV. Entry at 350, SL 340, Target 375. Can we take this thread tomorrow. It has closed with huge volumes today.thx

 

[ghanaga]

sorry typo... Can we take this trade tomorrow? thx

 

[Esse]

Hi anil,
SBI on the daily charts has given two consecutive dojis. Posting the chart. Want your opinion on whether to go long with sl at 2530 spot level