I can help you with stock chart reading

[ramakrishnaiah]

Thanks Vvonteru,

I did not enter Suzlon as the price point you suggested for entry was not triggered. Thank you for the excellent analysis.

SBI, I felt from fundamentals perspective is attractive. But you are right. The market is completely negative about banking right now.

But I got into Reliance at 1007. But looks like there is trend reversal in Reliance as well . We are seeing consecutive lows. What should be my stoploss?

Satyam is tanking ahead of its quarterly numbers in opposite to Infy/TCS.. Is there some negative news on that. I entered at 691 and am holding out. What should be my stop loss on this as well?

Again, Thanks for the great suggestions, I have become a huge fan of your analysis.

 

[vvonteru]

Thanks Vvonteru,

I did not enter Suzlon as the price point you suggested for entry was not triggered. Thank you for the excellent analysis.

SBI, I felt from fundamentals perspective is attractive. But you are right. The market is completely negative about banking right now.

But I got into Reliance at 1007. But looks like there is trend reversal in Reliance as well . We are seeing consecutive lows. What should be my stoploss?

Satyam is tanking ahead of its quarterly numbers in opposite to Infy/TCS.. Is there some negative news on that. I entered at 691 and am holding out. What should be my stop loss on this as well?

Again, Thanks for the great suggestions, I have become a huge fan of your analysis.

Reliance:
Near to take it out. I have Chandelier exit as 975. Below the close base is 960.

Satyam:
I think you are near to take it out. 650 is what I got for stop loss. This is also below previous base.

Summary:
1. Sensex ended slightly above 10000. This is psychological point. There might be some attempt to rally here. If it does happen, try to get out. If things appear better, we can come back in.
2. In other case, if stop points hit, take your loses. Taking a loss is also making money. Because, if you don't take loss, you will be making more loss to your capital as your stop got hit for a reason.
3. Next time, before you enter, have a stop loss. Don't move this stop down once you have it. Stop should only move up. Even if you had it wrong initially.

 

[Czar]

sir after 5 black candles i covered my shorts & went a tad long do you think it would be good to re-enter shorts on the over sold rally ? what would be a good entry point for shorts...

 

[vvonteru]

sir after 5 black candles i covered my shorts & went a tad long do you think it would be good to re-enter shorts on the over sold rally ? what would be a good entry point for shorts...

Based on oscillators (RSI, Williams, Stocastics ....), still it is not oversold. Around 45 for RSI. Still worse is MACD crossing down with histogram negative. There is a chance to attempt to go up after 5 days down. But, thats daily noise. Overall, the trend down is confirmed. Lets consider Down as long as MACD is negative.

Do not open new short positions now. You shouldn't have covered shorts either. The downside just started. However, it depends on your trading strategy. My strategy is to get lot of gains with less number of trades taken and higher risk. Another strategy may be to get lot of winning trades with small gains and smaller risk. Either is fine as long as U fine tune it with no. of trades taken and consistency with risk.

 

[Czar]

thought so, thanks your wisdom... but it gets a little uncomfortable holding shorts with 5 consecutive down days as the pull backs are rather sharp...

 

[pranayd]

thought so, thanks your wisdom... but it gets a little uncomfortable holding shorts with 5 consecutive down days as the pull backs are rather sharp...

Hi Czar,

My question might be a bit stupid for most of you seniors, but wanted to understand if one can short stocks overnight. Can I short sell a stock today and sell it five days later? Am I missing something here?

Pranay

 

[Czar]

Pranay: dint get what you're asking mate...

no you can only sell futures & carry forward if i understand you right

 

[dinkerj]

Pranay: dint get what you're asking mate...

no you can only sell futures & carry forward if i understand you right

Hi Czar, So I too take opportunity to ask something.
I never traded options.Today i tried on icicidirect, but they have two types of trades- good till day, IOC. They dont accept IOC orders.I didnt buy as I thought good till day means valid for one day only. (contradicting my theoretical knowledge).
Can you pls throw some light, if possible giving example of icicidirect?

 

[Czar]

sorry mate i dont use icici, but i guess good till day means when you place an order its validity is till end of day...in the sense if i place order to buy at 100 & price is 95 my order is valid till end of day... so if it hits 100 within the day my trade is done...but next day again i have to punch in order...

PS: guys there is a help thread, kindly use that as we are misusing VV's thread...thanks

 

[pranayd]

Pranay: dint get what you're asking mate...

no you can only sell futures & carry forward if i understand you right

Thanks Czar,

I got my answer.

Cheers,

Pranay