I can help you with stock chart reading

[vvonteru]

Hi VV,

I didn't understand what you have meant by "Frst Thrust Pattern". Can you explain in detail for me.

regards
chachi

These patterns are explained in Dave Landry's (my current Guru) book. According to this pattern, the stock makes a new high and then collapses more than 10 percent. The way the stock makes high and collapses should be dramatic. Dramatic in the sense, fast and shocking, so that the longs are caught in the trap. When the pull back happens, the longs should look to exit in herds.

So, far, the index (and tons of stocks as listed from my scan) is set as in the text book. I would have liked to see the index losing more points today in confirming the outcome of the pattern. But, sometimes, it just takes time for the pattern to complete. Longs might have thought, the market will continue to go up. Seeing it go down today, lets see their reaction tomorrow.

About Head and Shoulder (H & S) pattern in day trades:

I believe for any pattern to work/trust, U need more data. Why? We need to read group behaviour over a period of time. Group behaviour over a day or two is not trustable. Just use EMAs for day trading. That too, not for reading group behaviour. What I mean is, if 8 min ema is going up in a day, does not mean is stock is doing good. I use 8 and 50 min ema to take out noise. To have points (when they cross) as entry and exit points. If not, these emas can turn up or down in 5 minutes.

 

[Disciple]

Hi VVONTERU!
Thanks for sharing with us.I always read your articles with great interest.Too good.
By the way one simple question..can you tell me how to start a new thread? If possible pls let me know.
Thanks for being there.
God Bless You.
Disciple.

 

[vvonteru]

Hi VVONTERU!
Thanks for sharing with us.I always read your articles with great interest.Too good.
By the way one simple question..can you tell me how to start a new thread? If possible pls let me know.
Thanks for being there.
God Bless You.
Disciple.

I don't know what U mean by, 'how to start a new thread'. You can go to this link, 'http://www.traderji.com/equities/' and click 'New Thread' button. Does this answer Ur question.

 

[mohdbinhaid]

Hi VVONTERU!
Thanks for sharing with us.I always read your articles with great interest.Too good.
By the way one simple question..can you tell me how to start a new thread? If possible pls let me know.
Thanks for being there.
God Bless You.
Disciple.

Hello,

just login to traderji.com main webpage and select the topic you want to start the thread..such as equities,commodity or mutual funds..click on it and there you can start new thread under that topic........

regards
mohammed bin haid

 

[vvonteru]

These patterns are explained in Dave Landry's (my current Guru) book. According to this pattern, the stock makes a new high and then collapses more than 10 percent. The way the stock makes high and collapses should be dramatic. Dramatic in the sense, fast and shocking, so that the longs are caught in the trap. When the pull back happens, the longs should look to exit in herds.

So, far, the index (and tons of stocks as listed from my scan) is set as in the text book. I would have liked to see the index losing more points today in confirming the outcome of the pattern. But, sometimes, it just takes time for the pattern to complete. Longs might have thought, the market will continue to go up. Seeing it go down today, lets see their reaction tomorrow.

About Head and Shoulder (H & S) pattern in day trades:

I believe for any pattern to work/trust, U need more data. Why? We need to read group behaviour over a period of time. Group behaviour over a day or two is not trustable. Just use EMAs for day trading. That too, not for reading group behaviour. What I mean is, if 8 min ema is going up in a day, does not mean is stock is doing good. I use 8 and 50 min ema to take out noise. To have points (when they cross) as entry and exit points. If not, these emas can turn up or down in 5 minutes.

Looking at the global markets, we should have a good down day tomorrow. Lets see.

 

[mahmeds2000]

Looking at the global markets, we should have a good down day tomorrow. Lets see.

Hi vv,
I totally agree with you. Sensex may lose several hundred points.

Best of Luck
Ahmed

 

[Czar]

dont do panic shorting & get caught on the wrong foot is all I can say, especially dont short nifty which is already at 60+ discount...

 

[chachi]

These patterns are explained in Dave Landry's (my current Guru) book. According to this pattern, the stock makes a new high and then collapses more than 10 percent. The way the stock makes high and collapses should be dramatic. Dramatic in the sense, fast and shocking, so that the longs are caught in the trap. When the pull back happens, the longs should look to exit in herds.

So, far, the index (and tons of stocks as listed from my scan) is set as in the text book. I would have liked to see the index losing more points today in confirming the outcome of the pattern. But, sometimes, it just takes time for the pattern to complete. Longs might have thought, the market will continue to go up. Seeing it go down today, lets see their reaction tomorrow.

About Head and Shoulder (H & S) pattern in day trades:

I believe for any pattern to work/trust, U need more data. Why? We need to read group behaviour over a period of time. Group behaviour over a day or two is not trustable. Just use EMAs for day trading. That too, not for reading group behaviour. What I mean is, if 8 min ema is going up in a day, does not mean is stock is doing good. I use 8 and 50 min ema to take out noise. To have points (when they cross) as entry and exit points. If not, these emas can turn up or down in 5 minutes.

Hi VV,

Thanks for your nice expaination. So important days will be, couple of days ahead.

Also I understood your explaination about H & S as applicable to small data band. Thanks for that too.

Regards
chachi

 

[vvonteru]

There were too many stocks that came in my scan under First Thrust Pattern. I kind of short listed them here. All of them for short. Most of the cement stocks were there in the list. Here are those I like.

AMARA RAJA BATT
AMAR REMED ORDIN
ASHOK LEYLAND STK A
BHEL STK A
COLGATE INDIA STK A
COROMANDEL FERT STK B1
GRASIM INDU STK A
HAVELLS INDIA STK B1
IVRCL INFRA STK B1
JAIPRAK ASSO ORDINARY A
JM SH&STOCK STK S
JINDAL STEEL STK A
SHRENUJ STK B1
STERLITE (I) STK A

 

[pnbalaji]

Hi VV,

Can you please do me a favour by following the steps below?.

1. Open the site www.buzzingstocks.com.
2. On the left side, click on Stock Search/Screener.
3. In the text field, enter the query "SMA7>SMA13 AND SMA13>SMA50".
4. The results of the query will be displayed below with the recommendation.
I could see that some of the stocks listed are with "STRONG BUY"

Can you please comment on how reliable this info, may be with your own method of analysis.

Sorry to bother you, but I am still learning the basics of TA.

Thanks,
Balaji.


Thanks,
Balaji.