I can help you with stock chart reading

[mansukh]

hi vv, could not get ur point ...
Right/Left of what "V"

Stocks that i mentioned i already have those. What do i do with these positions.
50 ROLTA @ 227
50 HINDALCO @ 175
50 NAGARCOST@ 300
100 HOTEL LEELA @ 295
200 SUVEN @ 114
20 TECH MAHINDRA @ 536
36 ZEETELE @ 309
20 HEROHONDA @ 774

VV, I am a beginner,i traded in futures n lost Rs.88000. This is not my money.
Is there any way i can recover this amount in 2 months or so.

And 2 all beginners reading this Do not trade in futures as a beginner.
This is my sincere advice 2 all beginners coz futures have more of ur money
on risk. I had no trading plan or what so ever. This is my reason 4 failure.

Anyways back 2 u VV, as i mentioned above, this is my current porfolio.
How can I reshuffle this to get higher returns?

 

[vvonteru]

hi vv, could not get ur point ...
Right/Left of what "V"

Split V in the middle. U have left \ and then right /. Left represents stock going down. Where they meet is the low point. Right represents stock going up. I am saying, buy low, but don't buy when stock is going down. Buy when stock is going up from low. See the attached image.

50 ROLTA @ 227
-- Look at the green trend line in the image. If ROLTA goes below that trend line, it will be hard for me to keep the position.

100 HOTEL LEELA @ 295
-- Not a lot of momentum. Other than that, can't find anything wrong with the chart.

200 SUVEN @ 114
-- Will take couple of weeks to come up. Due to sideways action, use weekly timeframe for better understanding of the stock's chart.

20 TECH MAHINDRA @ 536
-- New stock. Showing double bottom. Will it work?

50 HINDALCO @ 175
50 NAGARCOST@ 300
36 ZEETELE @ 309
20 HEROHONDA @ 774
-- I have already given my views for these.

VV, I am a beginner,i traded in futures n lost Rs.88000. This is not my money.
Is there any way i can recover this amount in 2 months or so.

It will be hard for U to forget. But, thats the only way to survive in the market. Forget about what U lost. Never trade to recover lost money (its mind game). But, trade your plan and trade in the right way.

And 2 all beginners reading this Do not trade in futures as a beginner.
This is my sincere advice 2 all beginners coz futures have more of ur money
on risk. I had no trading plan or what so ever. This is my reason 4 failure.

Well said.

Anyways back 2 u VV, as i mentioned above, this is my current porfolio.
How can I reshuffle this to get higher returns?

I can't help you in terms of setting your portfolio. I can give you following advice though.
1. Have only 1 stock per sector.
2. Limit to 5 stocks. No. of stocks depends on your capital amount. But, 5 should be good enough to manage.
3. Try choosing momentum sector stocks. Look at banks. I don't see a bank stock in your portfolio.

 

[SatyaGadepalli]

VV Sir,

Could you read Wipro charts?

Regards
Saty

 

[vvonteru]

VV Sir,

Could you read Wipro charts?

Regards
Saty

520 is the resistance. If U want to enter, wait for better action around 540. If U are already in there, use stop below Monday's low or 480. Rather look at better volatility stocks in its group. Satyamcomp and infosystch. They tested 50 day EMA successfully and going up.

Some more links:

Trading 101: http://tradermike.net/2004/05/trading_101_trading_for_dummies
Day Trading Learning Site: http://www.maoxian.com/archivecat.html#QA

 

[mansukh]

how is SESAGOA looking now
Wat Position can i enter at?

 

[pranayd]

Hi VV,

Can I have your views on the following:

1. S Kumars (Icharts code: skumarsynf)
2. Nitco Tiles (nitco)
3. Praj Industries (prajind)
4. Amara Raja Batteries (amarajabat)
5. Adlabs Films (adlabsfilm)

Which of these can I enter now?

Thanks,

Pranay

 

[Raju]

Hi VV,

As per your opinion I had exited STERLITE before it falled below 450.Thanks for info.Please can u give me op. for
1.NOCIL
2.INDIABULLS
3.ITI

Regards,
Raju

 

[vvonteru]

SESAGOA
-- Let it come out of the sideways action. If you have read about V pattern in my previous reply, the other extended pattern is \__/. SESAGAO is at the bottom, going sideways. Wait for upward action for entry.

1. S Kumars (Icharts code: skumarsynf)
-- Looks good. Out of the pullback.

2. Nitco Tiles (nitco)
-- Price action is ok. After an extended upmove, trying to stabilize. Average volume is not good enough. Liquidity is the key.

3. Praj Industries (prajind)
Kind of forming a traingle pattern. Let it break out of the pattern before U get excited. I don't recommend playing breakouts.

4. Amara Raja Batteries (amarajabat)
-- This stock has been consolidating for long time. Tested successfully 50 day EMA. See chart with Weekly for 1 year duration to get better idea on entry. Use Weekly for entry when you see lot of sideways consolidation action on daily.

5. Adlabs Films (adlabsfilm)
-- Nice price action. Enter after pullback. This is the kind of price action we want to see. Uptrend followed by pullbacks.

STERLITE (STER)
-- I mentioned to U that 450 was the support. At the point, the stock was 475. Sterling ATR = 20. How hard it is for STER to below 450. Probably around a day or two. Support and Resistances are at a price point. But, its hard to pin point a stock to a particular price point. As U see STERLITE tested 450 (not exactly 450) and is trying to go up. I still like it as long as it does not come back to the trading range between 300 and 450. Making entries multiple times is not wrong except for losing commissions to the broker. Traders do it all the time to get the perfect entry.

NOCIL
-- Avoid. Price is not trustable. Look chart for weekly for 1 year duration. If U are interested, wait for next pull back. By that time, it would have moved above the down trend line in weekly.

INDIABULLS
--Can't argue with the chart. U didn't tell me if U already have it. If U don't, wait for pullback before entry. Don't ever make a mistake of entering a trade above bollinger band. Thats for profit taking only.

ITI
--See July 2005. Long bars and then slept the rest of the time. Are we going to see something similar again. Unless U are already into it, how are U planning to enter the stock. Tradability is the key for (short term) traders. Compare ITI with Adlabs Films (adlabsfilm).

One more thing Raju, please don't take decisions based on my analysis. Do your analysis and compare with mine. Then take it based on what U think is right.

 

[GKHERA99]

vv
views tata chemical from long term prospective.

 

[vvonteru]

vv
views tata chemical from long term prospective.

Long bars. Careful with stops. Weekly chart looks better than daily. On daily, there was an extended pull back. It will take couple of days to week to see better chart. So, if U say long term, lets apply weekly time frame. I think it looks good with MACD cross up, histogram positive and with nice pull back for entry. Volume is not so great during period June to Sep compared to earlier times.