I can help you with stock chart reading
- Thread starter vvonteru
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To start with, I have to admit I am not good at Long Term analysis. Whatever I know is for short term, only using TA. Poor (lazy) in doing Fundamental Analysis. Its not practical for me to check fundamentals for so many stocks either.
Bharti
-- Weekly it is still showing down trend. Daily, U have to buy based on MACD crossover or price is above the down trend line. 3 days up. I would wait for pullback before I buy.
RCVL (RCOM in iCharts)
-- I think U missed the boat if U were looking to buy Long Term. Its been up so much that it is going sidways for consolidation. Use MACD cross up to time the entry or last 5 days high.
Maruti
-- U should have bought at 830 area. If you are looking for dip to 50 day EMA, they may or may not give. Its very hard to say whether it is right time or not. It depends on your objectives. Thats what I call trading plan. Stick with it inspite of not getting opportunities. The stock is doing good.
Tata Motor
-- Stock consolidated around 850 region. CMP not far from 850. But, look weekly chart for 1 year. U see volume reducing. This volume reducing phenomenon I see in most of the stocks does not augur well for future.
TVSMOTOR
-- I apologise for missing U an opportunity. But, there has been dramatic change in how the stock moved in the last 5 days. Even now, do not add. Wait for pull back before you add. And only add 50% position of what you have. Temptation is always there of missed opportunity. But, U must act the same way whether it is loss or gain.
MediaVideo
-- Looking at the price and volume, I felt it would be a gamble. We don't want to gamble. We want a stock which has nice and clear pattern for easy trading. Look at the above for comparison.
Bharti
-- Weekly it is still showing down trend. Daily, U have to buy based on MACD crossover or price is above the down trend line. 3 days up. I would wait for pullback before I buy.
RCVL (RCOM in iCharts)
-- I think U missed the boat if U were looking to buy Long Term. Its been up so much that it is going sidways for consolidation. Use MACD cross up to time the entry or last 5 days high.
Maruti
-- U should have bought at 830 area. If you are looking for dip to 50 day EMA, they may or may not give. Its very hard to say whether it is right time or not. It depends on your objectives. Thats what I call trading plan. Stick with it inspite of not getting opportunities. The stock is doing good.
Tata Motor
-- Stock consolidated around 850 region. CMP not far from 850. But, look weekly chart for 1 year. U see volume reducing. This volume reducing phenomenon I see in most of the stocks does not augur well for future.
TVSMOTOR
-- I apologise for missing U an opportunity. But, there has been dramatic change in how the stock moved in the last 5 days. Even now, do not add. Wait for pull back before you add. And only add 50% position of what you have. Temptation is always there of missed opportunity. But, U must act the same way whether it is loss or gain.
MediaVideo
-- Looking at the price and volume, I felt it would be a gamble. We don't want to gamble. We want a stock which has nice and clear pattern for easy trading. Look at the above for comparison.
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Kenneth,
I think we discussed about what options we have for profit taking. If U are a partial profit taker, go ahead and take out partial position profits. If U carry 100% position, trail the stop. When trailing stop, make sure U have atleast 2* ATR. If U grade yourself based on multiples of R and they have reached, then take out the position. As U might have observed, results will vary.
Lets take EXIDEIND for example. Lets say Ur trading plan says U will carry 100% position. But, U saw on August 29th, EXIDEIND hit 375. U got tempted and took out 50% profit at 375. Today EXIDEIND is 385. And hit yourself hard because you don't have the 50% position as the stock still has momentum. So, my friend, do what Ur plan says inspite of how market is behaving. On the long run, you can atleast look at your trades diary and see what is working and what is not.
I think we discussed about what options we have for profit taking. If U are a partial profit taker, go ahead and take out partial position profits. If U carry 100% position, trail the stop. When trailing stop, make sure U have atleast 2* ATR. If U grade yourself based on multiples of R and they have reached, then take out the position. As U might have observed, results will vary.
Lets take EXIDEIND for example. Lets say Ur trading plan says U will carry 100% position. But, U saw on August 29th, EXIDEIND hit 375. U got tempted and took out 50% profit at 375. Today EXIDEIND is 385. And hit yourself hard because you don't have the 50% position as the stock still has momentum. So, my friend, do what Ur plan says inspite of how market is behaving. On the long run, you can atleast look at your trades diary and see what is working and what is not.
Great. Thats the mark of a serious and successful trader. Elder stresses so much on keeping trading diary. Not many traders realize this. In addition, you should do a monthly checkup on your trades. Check why a trade successfully worked while the other didn't work. See how you could have done differently. Beware that the market can be a bad teacher. It can award you for bad trades and punish you for good trades. Keep that in mind when you change your trading plan. Avoid frequent changes.
See chart with settings
1. Weekly
2. Year duration.
You will see the downtrend is intact. May be its starting a new trend. But look at BANKNIFTY and compare. This stock has been lagging like YESBANK. Right now banks are as high as there were in May before the fall. Watch BANKINDIA, PNB, ICICIBANK, SBIN.
I would avoid the stock for now.
Isn't that true. A stock will hit 52 week high because its got demand. Every one wants to own it. That is the reason its going up. Similarly, a stock is 52 week low because no one wants to have it. All of them are selling it. Ofcourse, this understanding is at high level.
That is one reason you see websites recording stocks that hit 52 week high and 52 week low. Sometimes, there is speculation that can drive the stocks up. Once that speculation is over, stock drops like a thud.
1. Weekly
2. Year duration.
You will see the downtrend is intact. May be its starting a new trend. But look at BANKNIFTY and compare. This stock has been lagging like YESBANK. Right now banks are as high as there were in May before the fall. Watch BANKINDIA, PNB, ICICIBANK, SBIN.
I would avoid the stock for now.
Isn't that true. A stock will hit 52 week high because its got demand. Every one wants to own it. That is the reason its going up. Similarly, a stock is 52 week low because no one wants to have it. All of them are selling it. Ofcourse, this understanding is at high level.
That is one reason you see websites recording stocks that hit 52 week high and 52 week low. Sometimes, there is speculation that can drive the stocks up. Once that speculation is over, stock drops like a thud.
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thanx 4 ur view on 52 week hi/lo vv.
Regarding the same till what level can we expect the prices to go up/down.
i.e, till what level might the stock go up/down. Can that be predicted as such?
Infy hit an all time high of 1855 and is now going down for 4 continuous sessions.
When do u think i shuld exit/take profit of this position? Still steam left?
Do u think that giving a long for a stock that hits 52 wk hi is wise? and short selling 52 wk low stock????
Thanx Again.
Regarding the same till what level can we expect the prices to go up/down.
i.e, till what level might the stock go up/down. Can that be predicted as such?
Infy hit an all time high of 1855 and is now going down for 4 continuous sessions.
When do u think i shuld exit/take profit of this position? Still steam left?
Do u think that giving a long for a stock that hits 52 wk hi is wise? and short selling 52 wk low stock????
Thanx Again.
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