I can help you with stock chart reading

[vvonteru]

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.

Thanks for the comments. As U read my comments, I want U guys to think the other side of the trade and ask why not. Thats how we together improve our trading.

ICSA
-- This stock has resistance around 700/750, which it failed to overcome 9 times. U want to try your luck one more time?

Ankur drugs
-- U want the stock to go above the trend line before U buy. Use MACD cross up for entry signal. It is ready to cross down due recent shorterm sideways action.

If U have to trade, here is one I liked out of 30 stocks I got out of the scan.

Stock: Godrej Industries
CMP: 99.90
Recent High: 103.50
ATR = 5
Entry = High + 0.50 = 104
Stop = 92 (below previous base, chandelier stop, between 2 * ATR and 3 * ATR)
Profit = trail stop, R = 104 - 92 = 12
Positon Size = calculate

 

[mansukh]

Hi VV, Iwould Like ur views on the following,
UNITECH, HINDALC0, NAGARCONST, ROLTA, Tech Mahnindra
say a week's view (or short Term)
Specially Unitech, i have a bullish feel, as others have lost insterest in it now, may be this might be headed upwards. Please comment. Thanx

 

[vvonteru]

Hi VV, Iwould Like ur views on the following,
UNITECH, HINDALC0, NAGARCONST, ROLTA, Tech Mahnindra
say a week's view (or short Term)
Specially Unitech, i have a bullish feel, as others have lost insterest in it now, may be this might be headed upwards. Please comment. Thanx

UNITECH
-- Nothing interesting. Why do feel that way. Is there a fundamental or TA reason for that.

HINDALC0
-- It is in pull back after crossover. However, there is resistance at 180. Buy above that.

NAGARCONST
-- Nicely pulled back and now going sideways. Wait for it come out of the short term sideways action. Sometimes stocks don't just go up after a pullback. They wait for momentum in general market to drive them up. So, wait for that action before U buy. U can use MACD cross up to help U when to buy.

ROLTA
-- Same story as NAGARCONST. They need a momentum day to go next leg up. Volume action is good. Watch the stocks daily and look for breakout of the sideways pullback action.

Look at also Mahindra Gesco. Still not able to come out of the pullback. Once they do, they will be on a roll.

Tech Mahnindra
-- Avoid new stocks. Buy new stocks either because, its a bull market (like we have seen before May) or U really know the fundamentals of the company. Why risk on something which U do not know how it trades? Will U invest your money with a person whom U know only 4 days back? If not, how are U trusting a stock thats only couple of days old?

 

[rangarajan]

dear VV,
ICSA & Ankur,thanks for yr analysis.I have another view from a tech analyst with charts.Would u like to see them for comparison & knowledge sake.
If so,pl tell me how to make attachment to my message the chart i have.
You may recall,even in the past, i had solicited yr opinion twice in the past as i regularly trade in them since one yr.
ranga

 

[vvonteru]

dear VV,
ICSA & Ankur,thanks for yr analysis.I have another view from a tech analyst with charts.Would u like to see them for comparison & knowledge sake.
If so,pl tell me how to make attachment to my message the chart i have.
You may recall,even in the past, i had solicited yr opinion twice in the past as i regularly trade in them since one yr.
ranga

That would be nice. We need different opinions, with a basis. Thats how we learn. As a trader, we need to think like a lawyer. We need to think other side of the argument (trade) and check if we have an edge.

I would prefer U attaching in Traderji. Thats how everyone can see and comment. If not, we need to find a common place where we can store the files and are accessible from Traderji. Guys, any ideas?

 

[GKHERA99]

Vv
Advise On Hanil Era Textile And Alok Textile
Regards

 

[jaykiru]

Chart for alok Textile

http://www.traderji.com/technical-analysis/8054-drawing-support-resistance-lines.html

Jay

 

[vvonteru]

Vv
Advise On Hanil Era Textile And Alok Textile
Regards

Hanil Era Textile
-- Wait for the crossover test. Touching 50 day EMA and coming down does not portray bullishness in stock. It should go above the 50 day EMA to certify its uptrend.

Alok Textile
-- Recent volume is good. Recently it has been trading sideways. I would stand aside from TA perspective, unless U see changes to the sideways action.

 

[rangarajan]

dear VV,
ICSA & Ankur,graphs attached

 

[vvonteru]

dear VV,
ICSA & Ankur,graphs attached

I see the difference between mine and theirs. They are going in detail. I just eye ball the chart. I am looking for easy ones. How about this. Look at the stock chart I recently suggested: Godrej Industries. Compare that chart to these charts. Reading their analysis looks convincing. But, I think the charts (ICSA) are not. Ankur is good as long as the stock clears the pull back.

My criteria for stock is based on KISS methodology. Keep It Simple Stupid. Why? because U want to repeat the process. If U can't repeat the process, probability will not work for U. Having such a detailed analysis will make it hard to repeat the process.

Another thing I noted from their analysis is they use Weekly charts. That kind of takes out the noise in daily charts. Its good and bad based on what time frame U base your decisions on. So far, how did they work out for U. Do they give help on position and stop loss management.