I can help you with stock chart reading
- Thread starter vvonteru
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Hai Vv Where r u we are steel waiting 
Jay
Jay
Market:
I would have liked pullback. Are they not going to give us??? Alright, lets look at some of the stocks.
Ranbaxy nicely went off but, came back. Amarajabat did ok. Its not like in text book isn't it!!! As far of now, I am very positive in the market. As long as you pick stocks in right sector (didn't they all come up?) and with good tradeability/trending you should make money.
Lets look at some for entry tomorrow:
1. SAIL
2. SUZLON
3. SEAMECLTD
4. EXIDEIND
5. 502090 SAGAR CEM. BSE
6. ITC
I know there are more. The above are the stocks I am just following. Always limit 1 stock per sector. For example, AMARAJABAT and EXIDEIND belong to Auto Auxilaries sector.
Hopefully, U guys entered a stock in BANKS sector today. It had nice pullback for 2 days. If not look at IDBI and SBIN
Last edited:
Czar,
Here are my reasons for me being positive about the market.
1) Look at all the sectors. They are all up except Metals.
http://charting.bseindia.com/charting/index.asp
2) My scans are giving high no. of stocks.
3) Most of the stocks are showing above the 50 day EMA with good volumes with few exceptions.
4) Indexes are up more than straight 5 days.
5) Look at Advances versus Decliners and other charts at http://www.icharts.in/breadth-charts.html
You are right that market is overbought. It might pull back. I would have agreed with U that this market would go down if the sector action wasn't good. Or if the advancers vs decliners showed divergence. Or volume in the stocks is low in the uptrend. But, they do not. So, till I see any negative price or volume action in BSE500 and sectors, I will remain positive.
In the end, it is always about what methodology U follow. Simple put, what criteria U are looking for before U take a position. My setup criteria is:
1) Market Indexes (BSE500) should have at a minimum 8 EMA cross up 50 EMA
2) Sector of the stock should have at a minimum 8 EMA cross up 50 EMA
3) The stock has at a minimum 8 EMA cross up 50 EMA.
Criteria 1 is satisfied. Criteria 2 is satisifed for all except Metals. Criteria 3 will depend on the stock. If my methodology gives me a buy, I buy. It does not matter even if I feel I will lose money. Similarly, I will not buy a stock if my methodology doesn't give me a buy, inspite of my feelings of making money.
I (or Neither U) do/should not fear losing. Loss and Gain are just outcomes of trading a stock, which I or U do not have control over. However, we do have control over how we manage loss or gain. We limit loss by constant risk, increase gain with muliple of risk. Difference of this is going to make U winner.
Here are my reasons for me being positive about the market.
1) Look at all the sectors. They are all up except Metals.
http://charting.bseindia.com/charting/index.asp
2) My scans are giving high no. of stocks.
3) Most of the stocks are showing above the 50 day EMA with good volumes with few exceptions.
4) Indexes are up more than straight 5 days.
5) Look at Advances versus Decliners and other charts at http://www.icharts.in/breadth-charts.html
You are right that market is overbought. It might pull back. I would have agreed with U that this market would go down if the sector action wasn't good. Or if the advancers vs decliners showed divergence. Or volume in the stocks is low in the uptrend. But, they do not. So, till I see any negative price or volume action in BSE500 and sectors, I will remain positive.
In the end, it is always about what methodology U follow. Simple put, what criteria U are looking for before U take a position. My setup criteria is:
1) Market Indexes (BSE500) should have at a minimum 8 EMA cross up 50 EMA
2) Sector of the stock should have at a minimum 8 EMA cross up 50 EMA
3) The stock has at a minimum 8 EMA cross up 50 EMA.
Criteria 1 is satisfied. Criteria 2 is satisifed for all except Metals. Criteria 3 will depend on the stock. If my methodology gives me a buy, I buy. It does not matter even if I feel I will lose money. Similarly, I will not buy a stock if my methodology doesn't give me a buy, inspite of my feelings of making money.
I (or Neither U) do/should not fear losing. Loss and Gain are just outcomes of trading a stock, which I or U do not have control over. However, we do have control over how we manage loss or gain. We limit loss by constant risk, increase gain with muliple of risk. Difference of this is going to make U winner.
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Hi Vv,
1. If A Particular Sector Has 20 Stocks, Out Of Which 10 Stocks Are
"top Gainers" And 2-3 Stocks Are "top Losers" For The Last 63 Days,
And For The Last 7 Days , If The Proprtion Of "top Gainers" Has Increased, Does That Mean The Sector Is At Intermediate Uptrend?
2. Or, If A Stock Is At 63 Days High, Does That Mean The Sector Is Also In An Intermediate Uptrend? If Yes, Then Why Is It Necessary To See A Sector If The Stock Is Trending?
Kindly Reply,
Regards,
Sonu M.
1. If A Particular Sector Has 20 Stocks, Out Of Which 10 Stocks Are
"top Gainers" And 2-3 Stocks Are "top Losers" For The Last 63 Days,
And For The Last 7 Days , If The Proprtion Of "top Gainers" Has Increased, Does That Mean The Sector Is At Intermediate Uptrend?
2. Or, If A Stock Is At 63 Days High, Does That Mean The Sector Is Also In An Intermediate Uptrend? If Yes, Then Why Is It Necessary To See A Sector If The Stock Is Trending?
Kindly Reply,
Regards,
Sonu M.
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