I can help you with stock chart reading

[ravi1967]

from other threads, reliance was overbought till date after it crossed 950. so expect stock to dip till 1050 level and then long term trend will be definitely up. target 1400 in 3 months maximum.also note mr.mukesh ambani's statement that shareholders trust will be rewarded. so we can expect a stock split and a bonus !!!. this is an unconfirmed rumour.
bye

 

[vvonteru]

Guys,

I will go over the market and general stuff.

1) We finally have a place where we can easily see stocks belonging to BSE and NSE.

http://www.icharts.co.in/charts.html (it is in Beta testing. Hopefully, it will
make it)

2) I was waiting for pull back. It happened. I am expecting at least another day, given the upside we had. Whether we have it or not, its another question. We will adopt having an entry buy above yesterday's high. If the market goes up, we are in. If not, on a further pull back, we reduce our entry point. Thats what we are going to do with RCVL.

3) Let me know whether the Stock Entries I suggest are useful and U are taking them. If not, I am wasting time. I will rather spend time answer the questions about stocks. Let me know.

4) On stocks I am following
--RCVL pulled back further. I wanted it happen. Its prime for entry. I will be happy if we have another day of pull back in RCVL.
--Litaka Pharmacy took off nicely, but ended Rs 1 lower than yesterday. This, I guess is due to market pullback in general. From stock point of view, nothing changed. If U have taken the entry, hold with the stop.

5. Coming on to the stock questions. For those of U who gave a long list, I do remember U guys. I will get back to U by then of the end of this week. Again, try to restrict to 2 stocks. After U hear from me, pose another 2. Giving me a big list makes it late.

thoughts on Ispat Industries - Hold or Exit?

It is a new issue. It belongs to steel (metal) industry, which is good. The stock has good pattern. I wish we would have looked at it after a month of trading, to get a feel on how it trades. But, if U want to go now, I would like to pull back 1 day more to test Rs16, its prior low. Then, I will go above high of that day. There are high chances that it is going to pull back tomorrow. If U feel U will miss an entry, U can enter at 21, with a stop at 16. If it goes up and triggers Ur buy point, U are in. If it goes down, will will reduce the entry point. I will follow it tomorrow.

U know something, I thought U were asking for buying now. I just saw U are asking for hold or exit. I don't know why U want to exit. When U enter new issues, U should like the company and its business. I don't think anything has changed in the last 2 weeks that U should exit. I don't know where U entered. Logically, I would suggest to put a stop at 16. But, rather, I would put a stop at 10, to avoid the stop getting hit in the noise. In fact, I suggest not to put stops for these low price stocks. If U do, U are asking for them to get hit. Moving a cheap stock down is not hard for market makers.

Hi

I want future prospects for reliance industries, I invested in at 1154 Canyou help me with the stock

It is in the first day of pull back. There may be 1 or more pull backs. U have to sit tight. This should be a lesson for U not to catch something which is going up. Wait for pull back. I know it is hard to see something flying and U are not part of it. The waiting is hard part. But, what is other option. U buy at high point, see the stock going down and U are very uneasy about it. Ur stop will be too far now. U are looking at 1000 or to be safe at 950.

 

[vvonteru]

numeric power system
-- Crossed previous resistance of 420. It is pulling back mode now. After another day of pull back (hopefully today), U can buy it above day's high + x.

apw president
-- Avoid. In trading range.

international combusion
-- Crossed 400 resistance. Tested it successfully. Due to the market pull back, it has come down. After this hiatus, it will continue to go up.

elgi thread
-- Please avoid this. Is that a chart?

kale consultants
-- Crossed 120 resistance successfully. Can enter after a pull back.

elegant marbles
-- It is in pull back mode. Testing previous resistance of 54. If U want to enter, U can do it now at 58 with a stop at 45. But, there are so many better stocks U have, if U want to enter. Look at RCVL. It has no baggage like elegant marbles.

guj apollo equipments
-- It is cruising. Still did not violate the trend line. If it goes below 200 (at least 2 or 3 ticks), U should think about profit taking or coming out of it. However, do not enter this stock.

 

[vvonteru]

Hi Vvonteru, keep up the good work.

I’m a newbie to the Indian equity market and hold the following stocks in my portfolio bought recently. I need you help in analyzing this stock to set up stop loss and the targets for them. I’m planned for a medium term set up for them.

GICHOU
GUJALK
TATCHE
KALCON
SESGOA
HINSAN
KESIND
TRIENG
RELIND

Sorry that it's a long list and any help from any other helpful people in this forum will also be much appreciated

Thanks
Mansukh

GICHOU
-- Voilated the up trend line. 8 day ema cross down 50 day ema and 200 ema. It has just crossed up in the last 3 days. There may be slight pull back. But, worst is over. It had a good support around 40 (Ur stop goes here), where it made a double bottom. What are the targets? 50, previous resistance. After that, sky is the limit. Look at P/E ratio and compare it with other companies in the sector.

GUJALK
-- Waiting to take off from pull back. MACD is showing negative. It means, couldn't keep up with previous bullishness (trend). So, there may be change in trend. Doesn't mean, it is going to go down though. Immediate target is 255. Trail with a stop of Rs200. If U have already made money on it, give it more room. Put a stop at 180, not to be taken out by noise. It is comes down to 200 (at least 2 ticks), U should think about getting out.

TATCHE
-- Starting a new trend. This stock's pattern is different. It does not shoot up. It wanders a little bit while going up. So, U need to have patience with this stock.

KALCON
-- Crossed 120 resistance successfully. Can enter after a pull back.

SESGOA
-- Pulling back for entry again. Good chart. Ur stop will be around 1300. Immediate target 1600.

HINSAN
-- Put stop around 150. Going up. Target, none. It can go as much as it wants. No resistance.

KESIND
-- Probably U are asking Kosoram Industries. Tried to come out of pull back. Now came back in the last 3 days. Good news is, 288 is acting as support. In normal scenario, I would put a stop at 280. Given that I am expecting at least 1 more day of pull back in the market, I would the stop at 260. It all depends on whether U are already in profits and can give the stock some room to come out this pull back. Once it goes up, U can move the stop to 280.

TRIENG
-- It is upward trading range. Stop would be at 110. If U are already in profits, set the stop to 100. Again, the idea is not to be taken out by noise. Look for bigger moves. To go for the gold.

RELIND
-- Reliance Industries. Had a good run after the mentioned on this thread. It is pulling back, day 1. I will put a stop at 950.

 

[vvonteru]

Hi,
What should I do with the following stocks

JP Hydro (32)
Neyveli lig(75)
Prism cement (10) bought long back
BILT (75)
Ashok ley(20)
TV18(650)bought Long back
UTI Bank (45)

I have taken some profit in most of the stocks.
Should I continue in the above or come out and remain in cash and wait for a pull back?

Thanks for the advise in advance
Regards,
Nitin

JP Hydro (32)
-- Nice uptrend followed by pull back. Took out previous resistance at 34 successfully. Good for entry now. For existing position, put a stop at 32.

Neyveli lig(75)
-- It is currently testing previous resistance at 86. After another day of pull back, prime for entry. Put a stop at 78 for existing position. If it goes below 86 or 80, U should think about getting out.

Prism cement (10) bought long back
-- Put a stop at 35. Slight change in trend is happening. Had a good run though before. Right now, 40 is still acting as support.

BILT (75)
-- I couldn't get this stock. Ur naming of the stocks is bad. Please give code so it is easier to search.

Ashok ley(20)
Put a stop at 40. However, if it goes below 45, U need to think about coming out.

TV18(650)bought Long back
Put a stop at 600. But, if it goes below 650 (2 ticks at least), think about coming out. If not, this stock is prime shape. It is staging before another leg up. When it does, move the stop to 700.

UTI Bank (45)
U had a long run. Banks are in a sleeping mode. Bank index has come out of trading range in a big way. But, some bank stocks are still lagging. Put a stop at 280. When the stock clear current trading range of 320-350, move the stop to 320.

Oh!!. That was a long list.

 

[agupta]

It is a new issue. It belongs to steel (metal) industry, which is good. The stock has good pattern. I wish we would have looked at it after a month of trading, to get a feel on how it trades. But, if U want to go now, I would like to pull back 1 day more to test Rs16, its prior low. Then, I will go above high of that day. There are high chances that it is going to pull back tomorrow. If U feel U will miss an entry, U can enter at 21, with a stop at 16. If it goes up and triggers Ur buy point, U are in. If it goes down, will will reduce the entry point. I will follow it tomorrow.

U know something, I thought U were asking for buying now. I just saw U are asking for hold or exit. I don't know why U want to exit. When U enter new issues, U should like the company and its business. I don't think anything has changed in the last 2 weeks that U should exit. I don't know where U entered. Logically, I would suggest to put a stop at 16. But, rather, I would put a stop at 10, to avoid the stop getting hit in the noise. In fact, I suggest not to put stops for these low price stocks. If U do, U are asking for them to get hit. Moving a cheap stock down is not hard for market makers.

Hey VV,
Thanks for the advice. I am very positive on the metal sector. The only reason I got skittish about this one was due to its dismal results and its trading in 18 - 18.50 range for the past few days (my entry is at 20). Anyway, would keep holding per your advice. Thanks for everything.

 

[pnbalaji]

Hi Chachi,

Opera consumes more CPU and some times system gets hogged because of this. But it happened long back. I will check out new opera and let you know.

Thanks,
Balaji.

Hi,

I tried opera, but I still feel firefox is better than opera. Try avant browser too, it has IE engine with many more features. Looks good.

Thanks,
Balaji.

 

[patnitin]

Hi Vvonteru,

Thank you very much for the advise.

Yes I will write the names of the stocks as suggested by you.

BILT is Ballarpur Industries and its NSE code is BILT.


Thanks Again!
Nitin

 

[MH51]

Hi Vvonteru,

Thanks for the info i requested. You have done me proud. Very much appreciated.

Thanks
Mansukh

 

[vvonteru]

Guys,

I will go over the market and general stuff.

1) We finally have a place where we can easily see stocks belonging to BSE and NSE.

http://www.icharts.co.in/charts.html (it is in Beta testing. Hopefully, it will
make it)

2) I was waiting for pull back. It happened. I am expecting at least another day, given the upside we had. Whether we have it or not, its another question. We will adopt having an entry buy above yesterday's high. If the market goes up, we are in. If not, on a further pull back, we reduce our entry point. Thats what we are going to do with RCVL.

3) Let me know whether the Stock Entries I suggest are useful and U are taking them. If not, I am wasting time. I will rather spend time answer the questions about stocks. Let me know.

4) On stocks I am following
--RCVL pulled back further. I wanted it happen. Its prime for entry. I will be happy if we have another day of pull back in RCVL.
--Litaka Pharmacy took off nicely, but ended Rs 1 lower than yesterday. This, I guess is due to market pullback in general. From stock point of view, nothing changed. If U have taken the entry, hold with the stop.

5. Coming on to the stock questions. For those of U who gave a long list, I do remember U guys. I will get back to U by then of the end of this week. Again, try to restrict to 2 stocks. After U hear from me, pose another 2. Giving me a big list makes it late.


It is a new issue. It belongs to steel (metal) industry, which is good. The stock has good pattern. I wish we would have looked at it after a month of trading, to get a feel on how it trades. But, if U want to go now, I would like to pull back 1 day more to test Rs16, its prior low. Then, I will go above high of that day. There are high chances that it is going to pull back tomorrow. If U feel U will miss an entry, U can enter at 21, with a stop at 16. If it goes up and triggers Ur buy point, U are in. If it goes down, will will reduce the entry point. I will follow it tomorrow.

U know something, I thought U were asking for buying now. I just saw U are asking for hold or exit. I don't know why U want to exit. When U enter new issues, U should like the company and its business. I don't think anything has changed in the last 2 weeks that U should exit. I don't know where U entered. Logically, I would suggest to put a stop at 16. But, rather, I would put a stop at 10, to avoid the stop getting hit in the noise. In fact, I suggest not to put stops for these low price stocks. If U do, U are asking for them to get hit. Moving a cheap stock down is not hard for market makers.


It is in the first day of pull back. There may be 1 or more pull backs. U have to sit tight. This should be a lesson for U not to catch something which is going up. Wait for pull back. I know it is hard to see something flying and U are not part of it. The waiting is hard part. But, what is other option. U buy at high point, see the stock going down and U are very uneasy about it. Ur stop will be too far now. U are looking at 1000 or to be safe at 950.

So, we have a pull back in the market. So, this is the 2nd pull back. We will have lot of entries coming up now. Hopefully, U guys have lot of cash in hand. Because, I am going to give U a big list. U can pick and choose. I will give the entry and exit points. I will put the list in the weekend.