Charts for the Day

[amitrandive]

Dear sizzle,

I use metastock. And i had maintained separate folder for the stocks which i need to track regularly.

The list is ongoing process, i sometimes remove some and add some depending on their technicals.

I am in process of adding fundamental criteria to it, so that best will qualify in the list. I feel fundamental screening is needed for my type of investing/trading where i hold stocks from few days to weeks, some for months too.

Searching for some good sites for extracting fundamental data ...if you have one...share it...

Most sites/softwares having fundamental data are paid.
Paid but good , please check.
mone yworks4me.com
(remove spaces)

 

[sabhlok_r]

Dear sunnyraj,

I trade on long side only. No stock Futures for me. I also trade very miniscule quantity in nifty futures that to a system based only. You can say more like SAR based.

See there are short term opportunities in weekly downtrend also, where stock gets oversold momentum wise, but the difference here is you need to be quick in profit booking. And you must never fall in love with stock in downtrend.

There are two things happen for sticks in downtrend and getting oversold. First they will bounce from lower channel support line and targets may be upper channel line. Second stock will go sideways and again the momentum will become overbought and stock again starts to fall. A rare event if more severe weakness will be there we called it as running correction. So these are the only ways stock behaves after getting oversold. IF you know how it is behaving, its easier for you to trade for short gains in weekly oversold regions.

Anilji,

Just to understand the concept better , attaching a weekly chart of dlf. Kindly comment.

 

[amitrandive]

Dear sunnyraj,

I trade on long side only. No stock Futures for me. I also trade very miniscule quantity in nifty futures that to a system based only. You can say more like SAR based.

See there are short term opportunities in weekly downtrend also, where stock gets oversold momentum wise, but the difference here is you need to be quick in profit booking. And you must never fall in love with stock in downtrend.

There are two things happen for sticks in downtrend and getting oversold. First they will bounce from lower channel support line and targets may be upper channel line. Second stock will go sideways and again the momentum will become overbought and stock again starts to fall. A rare event if more severe weakness will be there we called it as running correction. So these are the only ways stock behaves after getting oversold. IF you know how it is behaving, its easier for you to trade for short gains in weekly oversold regions.

AnilJi

Can you please explain more about running correction ?

I just got this link from the net.

http://traderskillset.com/how-running-corrections-born/

 

[anil_s_trivedi]

AnilJi

Can you please explain more about running correction ?

I just got this link from the net.

http://traderskillset.com/how-running-corrections-born/

Dear amit,

We know when stock in uptrend its makes HH-HL. And correction makes LH-LL.
But stock can also correct making HH-HL then its called a running correction. As it shows eagerness by bulls take the price higher, and stock fails to make lower lows.

 

[Sunnyraj]

Anil sir, although Tata steel is in a downtrend, there is a higher low seen on daily. So can we consider a recent higher low formation in Tata steel a running correction ? OR is there accumulation going on ?

Daily chart of TATA STEEL

 

[anil_s_trivedi]

Dear amit,

We know when stock in uptrend its makes HH-HL. And correction makes LH-LL.
But stock can also correct making HH-HL then its called a running correction. As it shows eagerness by bulls take the price higher, and stock fails to make lower lows.

 

[anil_s_trivedi]

Dear nitinji,

Dr Reddy is in secular uptrend. The key levels to watch are shown on chart with explanations. Remember for trend to mature, either it will end the parabolic move with steepfall or you should be on alert when stock is rising on after third or fourth base on your timeframe. For ex; four bases on weekly got complete indicated any rise from hereon will or can be a trigger for trend reversal. Stock cant rise till eternity.

We as a trend follower only needs to latch on the trend with key reversal in hand.

For extreme short term on daily, i will be on alert if stock closes below 4130 levels, it can test 3900 zone.

Dr Reddy up 5.5%....This is tale of stocks in uptrend...Thats why i always avoid/Recommend to short after stocks in uptrend...you never know when we will get screwed in it badly...

Took brief support at 3900 levels on daily charts with second touch breaching it but closed above it, a sign of strength...

 

[anil_s_trivedi]

Tata Motors down 6%,below 300 mark, near Sept 2013 lows. Stock down 53% from Feb 2015 highs.

 

[SURESH MARATHE]

Anilji
Can you give your opinion on Aurobindo Pharma. Regards

 

[timepass]

Tata Motors down 6%,below 300 mark, near Sept 2013 lows. Stock down 53% from Feb 2015 highs.

What next for this scrip ?