I can help you with stock chart reading

[vvonteru]

Incase of Exide probably not yet. Infact I wanted to ask what would you do now. Options would be
Book profit at Entry price + 6*ATR on the 14th day of entry @ Rs 380
Have a trailings stop at 0.5 ATR from tomorrow = C-7.5 =356
or continue with the Chandilier stop Loss which is at 329.

Where as Rain Commodities has penetrated the BBT and has closed below the Band with an Engulfing Bearish Candle. Also has hit Rs 151 which is Entry price + 6 * ATR of 14th. giving a profit of 28%. Isn't it time to take profit.

Appreciate your Views
Thanks
ken

Couple of options based on your trading methodologies profit taking:

1. Take half after 1 * ATR is reached and set the stop to break even. If you adopt this method, when a stock makes a high bar, continue to take % of shares for profit. This is the reverse of buying in small lots.

2. After 1 * ATR is reached, continue to trail the stop to 2 * ATR to capture profits. Here you are not taking partial. You are holding on to 100% of the position.
Ofcourse, there are variations to this. You can rate your profit trade based on 1 * ATR - C, 2 * ATR - B, 3 * ATR - A. If 3 * ATR is reached, you can completly take out the position since you have attained A rating for your trade.

3. And there may be other way to do it based on your objectives.

Before I used to follow Option 1. Recently, I changed to Option 2. Whatever option you choose, stick with it. Do not chose option 1 for a trade and use option 2 for another trade. If you are using Option 1, then you should have taken profit for ExideInd.

Stock Tips:
I did not run through the scan due to boring index action. I am just looking at some stocks I am following. Look at CLASSIC for entry. Refer to previous post.

 

[rvgandhi]

Dear VV,

Your advice on TVSMOTOR please. I have entered the stock at Rs 82 and needed your advice if it is now right to accumulate as the stock is inching above its 50 Day EMA.

 

[rangarajan]

Dear VV,
Pl comment on Strides arcolab(STAR).Is it worth entering now.
ranga

 

[vvonteru]

Dear VV,

Your advice on TVSMOTOR please. I have entered the stock at Rs 82 and needed your advice if it is now right to accumulate as the stock is inching above its 50 Day EMA.

This stock is lagging the general market (majority of stocks). If the market was also at this position, I would say, yes, this stock has real scope. But, as U know the market has passed this phase. For this stock (or any for that matter) to move up, the market has to continue to go up. For U, it does it matter. Just trail the stop. If U are considering adding more, I would advise to not do that. At this point, there is more risk of making your winning position a losing one. U should let this winner run for this moment. Lets consider it again after couple of weeks.

Strides arcolab(STAR).
-- Unless this satisfies a fundamental setup condition, I don't like the stock based on its daily bars. If U have to enter, do that above 300. 300 is earlier resistance. Or let this step go successfully and enter on another pull back. The indexes are going in a sleep mode anyway. There is hardly any volatility in them.

Ranbaxy
-- If any has taken a position in this stock, don't forget to trail the stop higher to 380. This is a perfect example why U need a minimum of 2 * ATR stop. Stock patterns have less and less becoming what they are shown in text book. After your entry, they may take their own time and swing against you. If U don't give them enough space, they hit your stop and then go in your direction leaving U frustrated.

 

[shethharsh]

hELLO VVONTERU

Some other thread has recommendeed TCS to touch Rs.1350 within 90 days. What are your views and opinions regarding that .


Thank You
Harsh Sheth

 

[vvonteru]

hELLO VVONTERU

Some other thread has recommendeed TCS to touch Rs.1350 within 90 days. What are your views and opinions regarding that .


Thank You
Harsh Sheth

Just like the indexes, its going slow, looking sideways more than upside. Its got a major resistance at 1000. Volume has been drying up in the last couple of weeks. My personal opinion is, stay away. The low volatility in the indexes and stocks is looking more like a puzzle to me. I am stopping short of saying, there is something fishy going on. Is this lull before the storm or just business as usual. This accompanied by low volume in some stocks.

Now, that doesn't mean we go around and short. If we don't learn any thing from our history, lets get this one right. DO NOT TRY TO DETERMINE THE TOP AND BOTTOM. Too many people have lost their shirts from 1900. This is straight from the mouth of Jesse Livermore (so they say. Book was not written by him).

None of the online websites have TCS considering the split. So, here is the chart.

CLASSIC
Do not get disheartened by the tick on icharts.in for stock CLASSIC. Thats a wrong tick on Friday. Make sure you check on other websites like http://charting.bseindia.com/charting/index.asp before putting a trade. Stock is still setup for Long. But, based on MACD, it either will go sideways or will get corrected. Its not able to keep up the momentum it started with. Can it still go up?

 

[game4trade]

Hi VV,

Your views on SIEMENS. Can one go long at CMP??

Cheers,

 

[vvonteru]

Hi VV,

Your views on SIEMENS. Can one go long at CMP??

Cheers,

That depends on how U normally go long. Here are some of the options for buying on pullback. These do not apply if you are a breakout player.

1. Long at pivot point. Low of the pullback.
2. Long after stock takes out pivot successfully. On Friday, SIEMENS took out the pivot point successfully.
3. Long between two short term EMAs. Choose either 10 and 15 or 8 and 13. Whenever the stock pullsback to between EMAs, buy. Probably on Thursday. U should note that some stocks have different pattern and may not pull down rather than create a base. SIEMENS is a perfect example. It created more of a base than a pull back.

Depending on what option you choose, results will vary. As I always say, stick with one option for all trades. Don't change between trades.

 

[amitt29]

Just like the indexes, its going slow, looking sideways more than upside. Its got a major resistance at 1000. Volume has been drying up in the last couple of weeks. My personal opinion is, stay away. The low volatility in the indexes and stocks is looking more like a puzzle to me. I am stopping short of saying, there is something fishy going on. Is this lull before the storm or just business as usual. This accompanied by low volume in some stocks.

Now, that doesn't mean we go around and short. If we don't learn any thing from our history, lets get this one right. DO NOT TRY TO DETERMINE THE TOP AND BOTTOM. Too many people have lost their shirts from 1900. This is straight from the mouth of Jesse Livermore (so they say. Book was not written by him).
?

I must say Sir,Its very simple to be difficult but very difficult to be simple.
U are the Jewel in the crown of this forum,the best as I see it here.And have carried on and by grace of Almighty will carry on.Hats off to you.

 

[rangarajan]

Dear Vv,
yr comments on ICSA & Ankur drugs,(both bse ),from short to medium term perspective & if possible likely targets.
ranga