Charts for the Day

[anil_s_trivedi]

Dear Anilji,
This is my Amibroker(http://s11.postimg.org/vr79zai03/screenshot_8.png.) giving real time data feed. From which tab i can scan the stocks. Please give me the path.
Regards
Sumantra

Dear sumantra,

Sorry, but i use metastock. You can search over the net, you will get basic screennig of stocks AFL's . Learn how it gets coded, and then you can code your own.

Nothing is difficult, until you get into...

 

[anil_s_trivedi]

sustaining above 50-51.2 zone crucial, a 200 SMA nearby is crucial to cross and hold it.

Expect more upside if held 50 levels well. Else trailing current positions can be best option.

As expected upside till 200 SMA got done. Stock consolidating there. Any correction small one need to hold, 45-46. for maintaining uptrend major low at 40.5 need to hold.

 

[amitrandive]

Dear Amit,

I generally dont use much screens. Only basic ones to define uptrend and for seeing improving relative strength.

I had answered my process in Ravi's question, if anything else you need, ask...

I generally love stocks moving out of base...Those are my favourites where i make money. Being trend follower my 70% trades are holding from weeks to months.

One important thing i learned is, i regularly book profit if stock move into profit my buy point. And hold rest 50% by way of trailing it.It gives me confidence to trade.

Some good stuff about base found on the net

 

[amitrandive]

Dear Anilji,
This is my Amibroker(http://s11.postimg.org/vr79zai03/screenshot_8.png.) giving real time data feed. From which tab i can scan the stocks. Please give me the path.
Regards
Sumantra

Use this

http://www.amibroker.com/kb/2014/10/03/how-to-setup-perodic-scans/

 

[anil_s_trivedi]

A short term bottoming formation going on. Reason to focus on stock is after many months stocks made a move and consolidating above 50 SMA on daily, While run up is on good volumes, fall is on lower volumes.

Focusing on hourly, stocks is making a base pattern and have support of 150-151.

 

[ravi2126]

Dear Amit,

One important thing i learned is, i regularly book profit if stock move into profit my buy point. And hold rest 50% by way of trailing it.It gives me confidence to trade.

is your profit % decided sir( means in week or month 10% 0r 20%) ..bcoz i always caught in greed n hard to take profit from it...that always make me confuse what must b my profit %..

Any site showing "relative strenght" of stock against nifty as i dont have any software install?

 

[amitrandive]

is your profit % decided sir( means in week or month 10% 0r 20%) ..bcoz i always caught in greed n hard to take profit from it...that always make me confuse what must b my profit %..

Any site showing "relative strenght" of stock against nifty as i dont have any software install?

http://www.marketinout.com/stock-screener/stocks.php?fundamentals=1=14,1=15&view=rs

 

[anil_s_trivedi]

is your profit % decided sir( means in week or month 10% 0r 20%) ..bcoz i always caught in greed n hard to take profit from it...that always make me confuse what must b my profit %..

Any site showing "relative strenght" of stock against nifty as i dont have any software install?

Dear ravi,

Yeah, i usually book some % of quantity when achieved 5-6% profit, some at 11-13% and hold rest till trail got hit.

See, it varies what % you are flexible with. But it should be achievable. and trailing rest is more important, you will be surprised to see your discipline infact gets checked there.

It require great deal of heart to sit on profit and still continuing to hold those positions. Many will post conflicting things, but you need to believe in yourself and your analysis, good money is made only there in last tranche.

I dont know any site showing RS. But its easy to compute in excel. Have weekly closings if your investment is for long term. Compute RS, and its easy to merge daily bhavcopy into your master excel sheet.

 

[anil_s_trivedi]

Dr Reddy one of stock which is in uptrend, not many sign of weakness on weekly, daily but still got punished. The lesson is stoploss are necessary no matter what strong trend company exhibits.

I got stopped out today, with meagre profit after holding for 4-weeks. Post analysis if done, to read what is sign of weakness if any. More prominent point i always focus, i failed to recognize it. Thats bad part of homework i had done on this stock.

So whats the point..?? Remember i always said, volume is important. Closely looking at charts, stock showed great volumes but result of this effort are not producing any substantial price move, thats the warning sign. Such huge volumes should be enough to drive price higher, and to clear resistances, but here it failed to clear resistances. Daily bars of 23rd - 29th - -30th October shown good volumes, infact exceeding highs of previous 10-11 months on daily charts, still it failed to clear resistances...

Its always look good to analyse in hindsight, but why trade failed needs to be analysed. Anyways, lets carry on with the market...

 

[nitingosavi]

Anil Sir,

if your time permits..
BPCL / PETRONET / ONGC can you analyse?