I can help you with stock chart reading

[vvonteru]

One more question sir....how does Britannia Industries look on the charts? Is it time for entry for short/medium term? Please reply with a reasoning for better understanding. Thanks.

Pranay

Britannia Industries
-- Avoid for short/medium terms. I don't know about long term.
-- I wonder how you guys get ideas about these stocks. For a change, why don't you guys give me explanation why you even consider this stock. If I have seen this stock's chart, I wouldn't have spent a split second. So, why are you drawn to this stock? I want to know your view point.

Can we see orders?
-- Sure. Floor traders can see. In U.S, there is something called Level 2 quotes. Individual traders can see all the orders pending, with sizes. They charge $20 extra for Level 2 quotes. Can be very useful if you are day trading or even otherwise.

 

[munchikana]

Can we see orders?
-- Sure. Floor traders can see. In U.S, there is something called Level 2 quotes. Individual traders can see all the orders pending, with sizes. They charge $20 extra for Level 2 quotes. Can be very useful if you are day trading or even otherwise.

I just could not comprehend fully. Is there any fecility for viewing all pending orders (market orders as well as limit orders) in BSE and/or NSE either to any trading member or to a person trading in the exchange floor itself? Are we not getting the same platform and same quotes or pending order lists on boths exchanges across the country? What we can view here is only best five (sellers as well as buyers). Can you please elaborate?

 

[kuldeep49]

Vvonteru,
Whats your take on Indian Hotels & NTPC. 8 EMA is poised to cut above 50 EMA.
Regards
Kuldeep

 

[vvonteru]

Vvonteru,
Whats your take on Indian Hotels & NTPC. 8 EMA is poised to cut above 50 EMA.
Regards
Kuldeep

I like Indian Hotels. There was a pull back recently. You could have bought into that.
NTPC looks like going sideways. We can consider it later.

Lack of follow through is a concern in the Market right now. This may be due to geopolitical reasons, U.S market, increase in interest rates etc. Trade minimally.

Level II info: http://daytrading.about.com/cs/nasdaqlevelii/a/level_ii.htm

Market Makers Info:
http://beginnersinvest.about.com/od/beginnerscorner/l/blmarketmakers.htm

 

[vvonteru]

Re: Looking for Help

Dear Vvonteru,

Hello! I had a few questions that i thought you would be able to help me with

first of all I am a girl and in my whole life I have never handled money except to shop.

This is the first time I have taken some interest in investing. I think I can commit myself to studying and understanding this field better.

1) please can you reccomend books/website for long term investing. I don't want to do one of those intraday thing as it sounds very risky.

Read the following books in the order.
-- Elder Alexander - Trading For A Living.pdf
-- Trade Your Way To Financial Freedom by Van Tharps
-- Swing Trading by Dave Landry
-- Elder Alexander - Come Into My Trading Room - A Complete Guide To Trading.pdf

Links:
http://www.traderji.com/books/7198-e-books-dr-alexander-elder.html
http://my.hn8868.com/forex/


2) I have saving of like Rs 200,000-- to begin with where can I invest it? no hi-fi terminology as I won't understand a word.(maybe with time)
-- Less Capital. Be ready to lose. Expect losses in the first couple of years. If you are still there after 1 year, you made it. Still there after 2 years, you are serious.
Please don't start now. Current market conditions are not conducive for beginners.

3) Can I make this a full time career? will I be able to feed myself with it?
-- It depends on how much capital you have and how much you need per month. Lets take 2,00,000 capital, expecting 10,000 per month. You will be expecting to make 5% per month. Per year, 1,20,000. So, in effect, you want to make 1,20,000 out of 2,00,000. Thats around 60 percent per year. If you can get 20% per year, most people will be willing to give you their money to manage (please include me).

4) which is the best place to open a DMAT a.c? I hear 5 paisa is cheaper as far as brokerage is concerned, also I can dabble in a little bit of day trading... just to get a gambler's high.
Give your best recommendations?
-- Geogit

5) Are there more forums like traderji which I can join to understand stocks better?
-- Don't waste time.

thank you vvonteru in anticipation.


Regards,
Priyanka Parekh

Ps: anyone else besides vvonteru reading this post can also go ahead and leave some recommendations. it will be highly appreciated. Alternatively you can email me at [email protected]

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[kumar7]

Re: Dear VV: Sonata Software & Visesh Infotech

Sonata: entry point 23.50
I would not have entered this stock. You can get out now or use stop = below Wednesday's low.

Visesh: yet to enter
Avoid
-- Avoid dogs for now. Consider only leaders in IT sector for now. If you can't afford them, may be you are undercapitalized. Undercapitalization will fail you, inspite of good system.

i really need to erase some loses!
-- Trading is a mind game. Try to forget the past. Don't trade to regain loses. If you do, your analysis will be skewed. Trade objectively, with no emotions. Trade because a stock gives you a signal based on set of conditions set forth by you. Ofcourse, this applies to every body (including me. I slip into that trap now and then).

IDFC Entry 53.50
-- Avoid. Stick with Oil and IT sectors for now.

ONGC AND SATYAM COMP
-- I like that you are picking stocks in strong sectors. Somebody is listening!!!
-- ONGC - No momentum. Consider Reliance or Suzlon.
-- Satyam - You lost an entry in the recent pull back. Wait for next one.

NRC ltd 300 @ 35
-- Do we have hope on this stock? Put a stop below the last 2 bottoms. I can't pin point in iCharts. Should be below low of last 10 days.

Jindal Photo 50 @ 240
-- You need renewed bull market to get this up. Take losses if it hits your stop at 80.

Samtel 300 @ 85
-- Same story. Put stop below June 18 low. Take loss this time more as a principle point of view.

Eicher ltd 175 @ 80
-- Put stop below June 15 low.

UCAL fuel 120 @ 195
-- Put stop below June 8th low.

Scandent Solutions 60 @ 212
-- Put stop below June 8th low.

Arvind Mills 250 @ 85
-- Put stop below June 13th low.

You should have got out on all these stocks long back. In fact, you should have never been there in the first place. All the stops are considering the current CMP as buy point. They will no way erase your losses. Look at each stock, trail the stop and get out with loss as gracefully as possible. Also, consider just getting out all of it now. Losses are as important as gains. They will tell you that you did something wrong. They can teach you not to do it again.

Thanks for your wise comments!
kumar

 

[dhimanhalder]

Dear Vvonteru

I got Gujurat Ambuja Cements @ 100. Should i be holding it or selling it?

Thanks and Regards
Dhiman

 

[vvonteru]

Dear Vvonteru

I got Gujurat Ambuja Cements @ 100. Should i be holding it or selling it?

Thanks and Regards
Dhiman

Stock looks very good. Right now, nothing in the stock gives sell condition.

But, I am worried about the market in general. Lets consider couple of scenarios.

1. Market goes down south from here. Lets use Nifty index for sell condition. If Nifty goes below July 7th sell the stock.
2. 100 is close to previous base of GujAmbCement. Put the stop for break even.

Currently, I have a bias for downward market movement. So, my suggestion might be little negative. I think you should consider some other member advise.

 

[rhk]

VV,

Whats your call on the market... do you think we will see some sell off. Global markets are moving into Red, willNSE follow. What do you think about my favorite stocks. RIL, Dabur and reliance communication (RCVL). Do you think RIL will fall to the 990 range.

Appreciate if you can share your thoughts.

Thanks

 

[vvonteru]

VV,

Whats your call on the market... do you think we will see some sell off. Global markets are moving into Red, willNSE follow. What do you think about my favorite stocks. RIL, Dabur and reliance communication (RCVL). Do you think RIL will fall to the 990 range.

Appreciate if you can share your thoughts.

Thanks

My bias is downwards. Nothing in the indexes is telling me that. I am looking at U.S. markets to come to the judgement. They are really doing worse. Couple of observations.

1. Nasdaq is at worst levels. 200 EMA long gone. 50 day EMA crossed down 200 EMA long ago. Recent support level of 2100 (1 month support) broken.
2. Health and Utility stocks are rising. These sectors only rise in recession time.
3. Geopolitical suddenly changing to worse. Iran, Korea and now Gulf war.

Now, this may not happen to Indian markets. But, since there is not follow through to Wednesday rally, chart is not rosy either. Hopefully, Indian markets show resilience. That time will only tell. So, I am adopting wait and see attitude on Indian markets scenario.

I have to get back to you on Reliance Communication. But, Reliance and Dabur are still doing good. You are in the best stocks in the market. I would tighten the stops below the latest bases. As in my previuos reply, set points based on Indexes where you will come out. Again, my judgement is biased with no data support from Indian stock indexes.