Charts for the Day

[anil_s_trivedi]

anilji,

just observed both price and macd took support in same levels in second buy in above chart. When both comes in same place any added weightage?

Just elaborating this scenario
price is taking support in a known previous support 200 in tata steel case.....
Also when 12 day ema - 26 day wma or whatever in Macd is not going further down.... Does this happen when price spends some time there in the base? Havent spend time with macd

I am just taking MACD to have oversold levels...as its a unbounded indicator, i just observing previous lower momentum levels on extreme sides...Nothing more than that...its another indicator derivative of price...

I had posted MACD setup to focus on, when on weekly MACD is buy, then daily oversold reading need to buy into...As daily correction only indicate pullbacks into weekly uptrend...

 

[anil_s_trivedi]

Hi Anilji,

What is the name of indicator that shows 52 week low (i.e. red line in the chart)? Which platform is it? Is it in MetaStock?

Also is there any way to find which stock are at 52 week low?


Thanks
Amruta

Amrutaji,

I had plotted 52 Week low indicator in metastock...Formula its a quite easier one LLV(L,52)...

It plots lowest low value in past 52 bars on that timeframe...here since its a weekly chart, it tells lowest low value for past 52 weeks...

 

[anil_s_trivedi]

Lupin is slowly showing some improvement in Relative performance vs nifty...But will it be too early to call into...

We prefer chart to guide us...Stock is still below 200 SMA so long term still down here...Solace is 50 SMA turning flattening to up here...so it is having some strength settling in...

Looking only S/R levels 1560 is crucial decider in coming days on upside...while on lower side in short term will love to see holding 1470-75 zone...

 

[ravi2126]

 

[ravi2126]

Mothersumi on verge of breakout

 

[lemondew]

Anilji,

Since FD is hardly giving any returns slowly planning to get into stocks. Plan is to get into reasonably good stocks which are down 35-50% from highs. SL is 50 % (half). Target100% (double)

Saw the following
1. Divis labs down from 1380 to 735
2. Sun pharma down from 1200 to 630
3. United spirits 4080 to 1900
4. Rcom 164 to 32.

Your comments on these stocks please

 

[vagar11]

Anilji,

Since FD is hardly giving any returns slowly planning to get into stocks. Plan is to get into reasonably good stocks which are down 35-50% from highs. SL is 50 % (half). Target100% (double)

Saw the following
1. Divis labs down from 1380 to 735
2. Sun pharma down from 1200 to 630
3. United spirits 4080 to 1900
4. Rcom 164 to 32.

Your comments on these stocks please

We should not mix technical and fundamentals. But, avoid Rcom.

 

[anil_s_trivedi]

Anilji,

Since FD is hardly giving any returns slowly planning to get into stocks. Plan is to get into reasonably good stocks which are down 35-50% from highs. SL is 50 % (half). Target100% (double)

Saw the following
1. Divis labs down from 1380 to 735
2. Sun pharma down from 1200 to 630
3. United spirits 4080 to 1900
4. Rcom 164 to 32.

Your comments on these stocks please

Finding good stocks...what is definition of good stocks...Fundamentally you need to track and analyse markets to find out good stocks...

Technically, stock that are rising are good ones...Falling ones are bad...For me, i am systematically sit out of my core position if stock closed below 200 SMA...That is the metric i had arrived by analysing my past trades since few years...

For trading short term positions below 200 SMA, i try to see oversold higher timeframe to enter into breakout on lower timeframes or pullback into strong s/r zone from weekly/monthly charts...but position size is small here, as i am playing against the trend...

Now on your query, stocks which are down by 35-50% are down for a reason and in price structure if they are below key zones(for me 200 SMA) its a stay away signal for me...

Since you are ready to put 50% SL, i would like to tell you enter stocks in uptrend and have few points reasonable stoploss rather than going in for 50% SL things on downtrend stocks...Regarding target, its a futile exercise for me, i am more of a trend follower so just sit in as long as price is above SL...You can have your targets thing, by using fibonacci retracement/projections wise...but its not a guarantee they will go towards it...

And lastly, all the stocks you mentioned are below 200 SMA, so they are not of interest to me...atmost i would love to see them in short term bounce positions if they have any valid setup...

 

[anil_s_trivedi]

We should not mix technical and fundamentals. But, avoid Rcom.

If you had good stocks of fundamental good companies on sound financial like growing earnings and sales..like a canslim like model then its ok...you can trade them after satisfying your technical criteria...But trying to judge fundamentally without sound tested approach will trap you in...

And lastly, dont fall into love with company you invest in...

 

[vagar11]

If you had good stocks of fundamental good companies on sound financial like growing earnings and sales..like a canslim like model then its ok...you can trade them after satisfying your technical criteria...But trying to judge fundamentally without sound tested approach will trap you in...

And lastly, dont fall into love with company you invest in...

I don't have a canslim model. I am just saying this because of falling profits for last couple of years for Rcom and now Idea,Rcom has to compete with Jio.