I can help you with stock chart reading
- Thread starter vvonteru
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I have chosen http://www.geojit.com/. But, please refer to other threads in this group which have specially discussed various options.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid.
Read all charts....
I don't understand your question. Let me do the best I can.
When you start looking at these charts, it looks foreign at first. You read books. Understand various terms. Continue to read charts. You will go through several phases. That is the reason, I suggested it would take 2 to 10 years to be really good. All along, you will learn something every day.
Each day, you will become better trader. But, the question is, do you have interest. There are several ways to make money. Some do job, business etc etc. We can opt for the one which gives us lot of money. But, if that line is not of interest, can you continue year after year. So, I suggest you to ask yourself if stocks are of interest to you. If it is, then spend time and eventually you will get it.
Its like byke/car driving. At first, it is so hard. You tend to observe everything. Once you get a hang of it, you don't even think about it. Some part of brain automatically takes care of it. Same thing with charts.
But, reading charts is just the beginning. I don't think you want me to go through the whole process now. You will find more info in the earlier part of this thread.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid.
Tata Motors
Crossed above the trading range. Wait for pull back (should not go back to trading range) before you enter.
Maruti Udyog Limited (maruti)
It had more than a deeper pullback. But, it was testing the trend line. It successfully did. Wait for a pullback for entry.
I was hoping for a 2 day pull back for entry. Market did not give that. It may not in this kind of bull market. But, if you see the pattern of nifty, it was giving 2 days pullback before. In this case, we continue to wait for an entry. Until then, maintain your existing positions.
I don't do options.
Starter Book
I mentioned earlier in the thread several books. I like the Elder book to start with.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid.
Crossed above the trading range. Wait for pull back (should not go back to trading range) before you enter.
Maruti Udyog Limited (maruti)
It had more than a deeper pullback. But, it was testing the trend line. It successfully did. Wait for a pullback for entry.
I was hoping for a 2 day pull back for entry. Market did not give that. It may not in this kind of bull market. But, if you see the pattern of nifty, it was giving 2 days pullback before. In this case, we continue to wait for an entry. Until then, maintain your existing positions.
I don't do options.
Starter Book
I mentioned earlier in the thread several books. I like the Elder book to start with.
Disclaimer: My suggestions are based on Trading versus Investing. Please take them at your own risk. Above all, as anything else, I feel trading is common sense. If you can make sense out of what I say, use my advise. If not, avoid.
kotakbank
I am looking at the chart. Looks like it got split around 500. It came out of the trading range between 220 and 250. Right now it is looking good. Why would you want to sell it. I agree that the Banking sector itself is not enticing. But, since you are already in it, trail the stop at the upper bound of the trading range (around 250).
ITC
You are crazy. Why would you want to sell ITC. The fun has just started. I wish I could put up the charts and show you what is happening. The stock just stepped up the accelerator. Just cruise along. Put a stop below previous base (around 170).
If you are uncomfortable with these positions (sometimes we do for unknown reasons, sixth sense etc etc), take partial profits. Remember, we lose not because of losses in stock market (the loses are attributed to business risk). But, because we don't let winners run.
Note: Please read the disclaimer attached in previous replies.
I am looking at the chart. Looks like it got split around 500. It came out of the trading range between 220 and 250. Right now it is looking good. Why would you want to sell it. I agree that the Banking sector itself is not enticing. But, since you are already in it, trail the stop at the upper bound of the trading range (around 250).
ITC
You are crazy. Why would you want to sell ITC. The fun has just started. I wish I could put up the charts and show you what is happening. The stock just stepped up the accelerator. Just cruise along. Put a stop below previous base (around 170).
If you are uncomfortable with these positions (sometimes we do for unknown reasons, sixth sense etc etc), take partial profits. Remember, we lose not because of losses in stock market (the loses are attributed to business risk). But, because we don't let winners run.
Note: Please read the disclaimer attached in previous replies.
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