Charts for the Day
- Thread starter anil_s_trivedi
- Start date
- Tags 50 dma investing chart reading moving average setups ta charts
Dear sunnyraj,
Network 18 is in sideways trend. Many go long near support and sell at near to top channel. I refrain to enter such stocks, only under certain conditions.i am just highlighting here for traders purpose.
If Nifty is in uptrend, then i go for such stocks having testing lower channel support, they are good ones, but since is in downtrend i refrain from going long near lower channel. One can obviously go long, with good entry closer to channel probably after price tested channel and then moving up but it needs here better money management.
So you should be clear when overall market is in downtrend, you must not go full throttle while catching bottoms in these scrips, it will save a lot of hard earned money.
Many traders (including myself) been committed this mistake and feel proud for my analysis as sometimes it just clicks in your favour, but only when i got hurt...i realize better setups come when your trade is with overall market trend in place.
Regarding infosys, I am a trend follower so always looking for a stock with better relative strength. Here higher timeframe momentum means, for ex: infy had already given momentum indicator like MACD up on weekly, so daily swings should be look into buying. Not every MACD up is a buy, but here stock is moving up with breaking out of low volume consolidation and Relative strength is above recent highs of october when price was at highs.
Network 18 is in sideways trend. Many go long near support and sell at near to top channel. I refrain to enter such stocks, only under certain conditions.i am just highlighting here for traders purpose.
If Nifty is in uptrend, then i go for such stocks having testing lower channel support, they are good ones, but since is in downtrend i refrain from going long near lower channel. One can obviously go long, with good entry closer to channel probably after price tested channel and then moving up but it needs here better money management.
So you should be clear when overall market is in downtrend, you must not go full throttle while catching bottoms in these scrips, it will save a lot of hard earned money.
Many traders (including myself) been committed this mistake and feel proud for my analysis as sometimes it just clicks in your favour, but only when i got hurt...i realize better setups come when your trade is with overall market trend in place.
Regarding infosys, I am a trend follower so always looking for a stock with better relative strength. Here higher timeframe momentum means, for ex: infy had already given momentum indicator like MACD up on weekly, so daily swings should be look into buying. Not every MACD up is a buy, but here stock is moving up with breaking out of low volume consolidation and Relative strength is above recent highs of october when price was at highs.
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