I can help you with stock chart reading

[johnbest]

hi vvonteru

hats off to this thread started by you rather i should say many many hats off...
excellent thread for the beginners like me. I never miss this thread, atleast open this thread twice or thrice a day to get any new idea from U.

Its a humble request to U (and traderji) that please dont end this thread. I hope this will, one day, be the longest thread ever.

have a nice day
JohnBest

 

[SGM]

Indian Cement
---This is a beauty. Wait for pull back to enter. Right now, overbought and too extended. Hey, for all those following few stocks, this should definitly be in Ur bag.

Hello vvonteru

Thanks for the input.

Regards
Sanjay

 

[SGM]

ITC is looking more like a double top.

Hello vvonteru

Holding ITC with a stop loss of 195. Target 212.

Regards
Sanjay

 

[vvonteru]

John
---Thanks. I will do this till I can.

Sanjay
--- Looks like U are too anxious. U don't want to lose money. But, having stop at 195, U are saying to the market, I can't take this tension. Please hit my stop and save me from the pain.

Right now, ITC looks setup for a short based on Fibonacci reading. Thats from a new entry point of view. If I am already long, I will put a stop at 180. Even if I know there are high chances its going to come down. Because, thats what my methodology says. I am not going to change it because I am going to lose money (or gain money). In the long run, this is going help me make money.

My suggestion to U is, if at any time a position makes U tense from being Urself, that means the position size was not right with respect to the stop loss (this comes under money management issue). So, ask yourself what position size would make you confortable if a loss happens. Once U know, reduce the position.

 

[Czar]

your efforts just amaze me sir...brilliant & very helping...hats off

would appreciate your views (whenever you can) on

1)Suzlon - worth a short ?
2) Satyam
3) ACC
4) TCS
5) SBI
6) IOC

Please advice on which you can...

 

[vvonteru]

Thanks.

1) Suzlon
U could have shorted using MACD divergence. Look at MACD histogram bullishness for each of the peaks. At the last peak, MACD went negative. That shows that as new each new high was being made, the stock had lesser strength. An short entry point over here has higher risk as well as higher reward.

A higher probability trade would be using First Thrust Pattern. After making a new high, the stock falls down more than 10% and pulls up. Right now, its still falling down after making 52 week high. Wait for it to pull up. Also, note the 50day EMA. Many people buy at 50 day EMA. So, it would be nice if the stock goes below 50 EMA and then pulls up.

2) Satyam
Bad chart right now. Hope 50 day EMA can save it. There was a reversal on Friday and ended at 50 day EMA.

3) ACC
It did come 2 days down. But, did it it really? We want it to come down more before U enter.

4) TCS
U could use momentum gap pattern to enter. Enter above Friday's high. But, the whole software sector is exhibitting different signals. Some double top, some with momentum gap. So leave it for right now.

5) SBI
Are U talking of State Bank of India. Just leave banks for right now. Stuck in trading range.

6) IOC
Wait for pull for a short. Go back and look at the chart from 2000. This is stock is no more trending. It is all over the place.

About shorting, at this time, understand the general market momentum is upside. In this kind of market even cats and dogs jump. Shorts have less probability of making U money compared to Longs. So, avoid going shorting at this time.

 

[Czar]

Thanks as always...I had enlisted these all as short candidates, also waiting to see if siemen is attempting a H&S...

 

[vvonteru]

siemens
--- U may have to short based on Fibonacci. For H&S, still need the right shoulder. Wait for the stock to go below the neck line and test (pull up) the neck line. I would rather (a higher probability trade) wait for it move below 5500 and then pull up. At that point, U will have people over head who bought and waiting to get out.

From the stock chart, I read it is losing momentum. It is as though it is climbing stairs and it is losing steam at the end of the stairs.

 

[gopii]

Hi,
Thanks for ur reply.
I just downloaded Fchart and started adding Nse data by data extracter by Satya.I have to go more deep reading the manuals inorder to use it.Just want to inform u that I also added volume as overlay.But it shows in the zoomed version.But very short bars,may be due to high spikes in other parts of the window, have redused them as a matter of comparison.
thanks again.

Hi jntrade
reading this thread i have also downloaded the fchart, but finding it very difficult to load the data, could u pl guide me on this "Nse data by datra extracter by Satya".
and sorry to all for inturrupting this beautifut thread.

thks rgds
gopii

 

[MH51]

Hi vvoutern

Keep up the good work. Would appreciate your views with suitable entry price, stop loss & target on

1) Hindustan Sanitryware
2) Sesa Goa

Thanks
MH51