I can help you with stock chart reading

[vvonteru]

Prism Cement

Came out of the trading range around 28. It is setting up for pull back. So far ok. Look at the chart from last 4 years. It just stays in periods of trading range for some time before it moves another leg. If you are already in it, trail the stop above the upper rim of the trading range. But, don't take a new entry. Find better momentum stocks. Look at ITC (Tobacco Sector) discussed previoulsy. Compare ITC chart with Prism Cement chart. There are more stocks I discussed in this thread which fall under good momentum stocks. Follow those and enter after pull back.

If you are interested in the Cement sector, find momentum stocks in Cement sector in the below link:
http://www.ndtvprofit.com/bb/default.asp?Pass=Cement

Note: Read the Disclaimer from previous replies.

 

[punterji]

Hi Vonteru,

Can you please give me some good picks in Cement Sector, i am looking for a midterm perspective.

Thanks a lot.
Vijay

Came out of the trading range around 28. It is setting up for pull back. So far ok. Look at the chart from last 4 years. It just stays in periods of trading range for some time before it moves another leg. If you are already in it, trail the stop above the upper rim of the trading range. But, don't take a new entry. Find better momentum stocks. Look at ITC (Tobacco Sector) discussed previoulsy. Compare ITC chart with Prism Cement chart. There are more stocks I discussed in this thread which fall under good momentum stocks. Follow those and enter after pull back.

If you are interested in the Cement sector, find momentum stocks in Cement sector in the below link:
http://www.ndtvprofit.com/bb/default.asp?Pass=Cement

Note: Read the Disclaimer from previous replies.

 

[vvonteru]

Look at

1. GRASIM INDUSTRIES LIMITED (wait for 1 more day pull back before you enter)
2. UltraTech Cement (Same. Wait for 1 more day of pull back. I like this better for 2 reasons. Lower Price and better volume than Grasim)

I could not attach the charts due to 100Kb limit. I will soon find a way to put somewhere on the net for viewing.

Note: You know the disclaimer

 

[punterji]

Thanks a lot Vonteru.

Look at

1. GRASIM INDUSTRIES LIMITED (wait for 1 more day pull back before you enter)
2. UltraTech Cement (Same. Wait for 1 more day of pull back. I like this better for 2 reasons. Lower Price and better volume than Grasim)

I could not attach the charts due to 100Kb limit. I will soon find a way to put somewhere on the net for viewing.

Note: You know the disclaimer

 

[curious]

Thks Vonteru..for your analysis on prism..

 

[bharatk8]

hi.... vvvonteru... elder alexander has mentioned on page 164(book trading for living) to adjust reference line of RSI every 3 months and asked to apply 5%rule. this is novel idea... .....pl...apply this on present day nifty chart and give your analysis....

 

[vvonteru]

adjust reference line of RSI every 3 months ...
See!! You have read Elder book. I have read books there after. I continue to read. But, what I found that there is no secret in price movement (at least most part of the time). Its What You See Is What You Get. Don't go after some truth which you think no body knows. In this kind of bull market, you don't have to really work hard. Atleast I don't want to spend time when I can easily make money. But, if you find some thing that we don't know about nifty, please let us know.

I was going to find a way to place charts. Check this stock out.
Stock Scrip: MORAREALTY
Pattern: Acceleration and Persistent Pullback


Disclaimer: Please read from previous replies

 

[nilesh78]

Hi vvonteru,
Would like to know @ praj industries.
Its moving upwards. Is this right time to enter this scrip.
What charts suggest.
Regards,
Nilesh

 

[drvasurao85]

hi!
can you give your opnion on bata.my entery level is 242.what do u suggest hold or sell.thanks
rao

 

[vvonteru]

praj industries.
Observations:
1. The new trend has higher volatility (every movement 10 to 20 ) than the previous one below price 120 (previous movement was 5 to 10). This means, the stock is accelerating.
2. The new trend is parabolic. I some how feel it is not sustainable. You know, feelings and hope have no value in stock market.
3. The new trend is giving only 1 day pull back. But, don't use Friday's pull back to enter. Let another day pass by to have at least high of the day below previous high. See for example, on March 28. Enter with a buy stop above high (stop = today's high + 4).
4. What I like about this stock is, when going down, its volume was low. Going up, volume is high. It picked up good volume on the new trend.
5. Please check the sector. I couldn't find it. Once you know the sector, check the chart of the index (in BSE) to be trending and this stock is comparable to the sector. I gave the link to look at the sector and index charts in the previous reply(s).

bata.my entry level is 242
People who read my thread might be considering me crazy when I ask them to wait for pullback. This is the reason. When you buy at top, you feel uneasy when the stock is below your mark. Its like going to the market and buying something at high price, when you know you can wait for day or two and get it at low price. Please practice to wait. Sooner or later we need this behaviour.
Right now, don't panic. I don't know how much did you calculate for stop loss. I suggest you put sell stop under previous base, which is 200. Hopefully, it will continue with the new up trend.

For All
I want you guys to look at the nifty chart. Look at the volume when going down versus going up. Just an observation.