I can help you with stock chart reading

[vvonteru]

hi vvonteru,
Great going . keep it up mate.

---Thanks

P.s.
volume is in special overlay of f charts. right click the main chart
and then click special overlay and volume
--- I can get the overlay on the main chart. How about on the zoomed window. I volume overlay is lost. If I want MACD, I need to double click MACD window separately. Which will not have the Price Chart.

I think I need to upgrade my version. Waiting to here from JNTrade. I saw his zoomed window to have volume + MACD.

Regards,
vinay

----------------

 

[kuldeep49]

Hi Vvonteru,
How does Patni Computer look to you. It seems to be bottoming out. Can we expect a probable rally?

 

[vvonteru]

Hi Vvonteru,
How does Patni Computer look to you. It seems to be bottoming out. Can we expect a probable rally?

Bottom Picking? Please don't. Further, avoid IT stocks for now.

 

[jntrade]

Hi Vv,
Thanks for the suggetions!

My Fchart version is 1.5.95M.
My version also shows two windows(price and MCAD) seperately.
Earlier in this thread,I wrote getting volume in the zoomed window.
At that time I thought zoomed means zooming the chart in the main window

Manual :- "There's also a check box between the last two drop-downs. Tick this and the chart display will change to a scrollable, zoomed view. Click and hold the left mouse button to drag the charts to the left and right."

In the zoomed window - appearing when we double click - there is no volume bars visible.

My Apologies for the confusion..


Actually it is the main window itself that shows in the image.For getting MCAD along with price chart, I saved two images seperately and edited them using 'Paint' to get all of them in one single image .

Thats all about windows..

For charts,

When U say entry after pull back,is it a different method other than trading the channels?
Also when we consider stop loss, Elder indicates a formula,considering Average down side penetrations.Can we adopt it as a main method of placing stops?
Again for taking profits,in Ur earlier charts U indicated booking 50% profits almost the same way towards the treand as to the stop loss.
Please give some details on these.
Once again thanks
JN
ps.And U became a senior member!

 

[vvonteru]

Hi Vv,
Thanks for the suggetions!

My Fchart version is 1.5.95M.
My version also shows two windows(price and MCAD) seperately.
Earlier in this thread,I wrote getting volume in the zoomed window.
At that time I thought zoomed means zooming the chart in the main window

Manual :- "There's also a check box between the last two drop-downs. Tick this and the chart display will change to a scrollable, zoomed view. Click and hold the left mouse button to drag the charts to the left and right."

In the zoomed window - appearing when we double click - there is no volume bars visible.

My Apologies for the confusion..
--- I have the same version. Thanks for the info.

Actually it is the main window itself that shows in the image.For getting MCAD along with price chart, I saved two images seperately and edited them using 'Paint' to get all of them in one single image .

Thats all about windows..
--- I will do this if I think MACD will be of help in future.

For charts,

When U say entry after pull back,is it a different method other than trading the channels?
--- I think probably. Trading channels is (I am not sure this is correct), buying at the low of the channel and selling at upper end of channel (if U wish). This is a different pattern than pull back pattern. For trading channel, the channel should have good width.

Also when we consider stop loss, Elder indicates a formula,considering Average down side penetrations.Can we adopt it as a main method of placing stops?
---I forgot what it is. Most of the time, I put stops eyeballing the chart. Look at previous base. Ofcourse, I take into consideration money management issues. If the stop loss is too far, I avoid the stock.

Again for taking profits,in Ur earlier charts U indicated booking 50% profits almost the same way towards the treand as to the stop loss.
Please give some details on these.
--- This is to generate income for Ur account. I am making risk = initial profit. Isn't that fair. If I am risking x amount, shouldn't I be looking to make x amount? If not, its not a fair deal. But, sometimes, if the stock comes too close to our profit target, U can take the partial profits.

Once again thanks
JN
ps.And U became a senior member!

U are Welcome

 

[oldmirage]

Congrats vvonteru for becoming senior member. YOu have been pulling a commendable job. Thanks for sharing ur experience with this forum.

 

[punterji]

Hi Vonteru,

Could you give ur analysis on the below stocks in Cements Sector.

1. ACC [ CMP 975.05]
2. India Cements [ CMP 208.80]
3. Gujarat Ambuja [ CMP 119.05]

As there is a downfall in these stocks. Is it advisable to make a fresh entry into these. Also what might be the outlook of cement sector. We are seeing the down slide for some time now.

Thanks,
Vijay

 

[vvonteru]

Hi Vonteru,

Could you give ur analysis on the below stocks in Cements Sector.

1. ACC [ CMP 975.05]
2. India Cements [ CMP 208.80]
3. Gujarat Ambuja [ CMP 119.05]

As there is a downfall in these stocks. Is it advisable to make a fresh entry into these. Also what might be the outlook of cement sector. We are seeing the down slide for some time now.
--- I am seeing this in all the cement stocks. If U have a position, stick with Ur stop. If U have profits in the market, take out partially, till Ur are confortable with the loss. We know that we should not make new entries. Right now they just look as pull back. But, my fear is, what happens when the market starts pulling back. Are they going down? I don't know. The price action should tell. It may end up just change in trend. See example of ITC. One of friend who relies on fundamentals was saying that cement stocks are overvalued. I asked him, what in the market is not overvalued.

FYI
In general, market goes in 3 stages.
1. Value of market < Fundamentals. At this point, nobody really cares about the stock market.
2. Value of market = Fundamentals. People start observing. Still no talk.
3. Value of market > Fundamentals. Speculation Stage. Everybody knows. Wherever U go, there is a talk. Any one U talk is in the market. Every body is dreaming of lots of money.

If U think something is over valued and not participate, U will miss lot of action. My philosophy is, not to prejudge the market. Let the market tell by its price action. That is the reason, stick with Ur stops. If cement stocks are going down, Ur stop will hit.

Currently, how many people predicted correction in the market (I was effected by that talk too). Every Tom Dick and Harry was expecting correction. I was talking to my brother-in-law who doesn't know ABCD of stocks. He was talking about correction. What happened? No correction. It is so much better not to heed to the news. Just observe the price action. If the price action gives the signal (based on Ur methodology) to buy, go ahead.

About the news, somebody asked me to buy INFOSYSTCH on good news after earnings. I gave the above advise to avoid the news. Didn't it go down after those wonderful news. So, news shouldn't be our criteria for stock buy signal.

Note: The above explanation was directed to all readers. I don't want U to get offended or something. A while back, somebody did get offended by my general comments.

Thanks,
Vijay

oldmirage
--- Thanks.

 

[punterji]

oldmirage
--- Thanks.

Thanks a lot vonteru for you detailed analysis.

Vijay

 

[vvonteru]

Thanks a lot vonteru for you detailed analysis.

Vijay

Ur Welcome.

I am getting lot of stocks in the scan. That is good. Here are few I short listed.
If U like any and want setup, let me know.
On cement stocks: Some of the cement stocks went below the normal pull back. Some of them (listed below) are good. We can adopt 50% position on cement stocks to be on safe side.

BOMDYEING
CENTURYTEX
DABUR
DALMIACEM
ELDERPHARM
GEOJIT
GODREJIND
HOTELEELA
JPASSOCIAT
KAKATCEM
MAHINDUGIN
NOIDATOLL
ORIENTPPR
TNPL