I can help you with stock chart reading

[learner]

Hi VV,

Good to see you back.

Could you please refer some books which are specific to chart patterns.
I am currently reading Elder's Come into my trading room.

Thanks
Learner

I am back. But, I have been very busy lately. I started a thread on Stock of the day. But, I couldn't keep up. So, I decided to continue this thread on weekly basis as time permits.

VV

 

[VRV]

Stocks for Monday:

1. ExideInd
2. Any of Tech leaders. They are all nicely setup as acceleration from previous trend. All exhibit the same pattern.
--Wipro
--TCS
--Satyam
--Infosys

In the charts, top line is for entry, bottom for stop. I considered ATR and Chandelier for stop.

Change entry criteria. This is for NSE stocks.

ExideInd: Same as previous
Wipro: Yesterday's high + x
TCS: Yesterday's high + x
SatyamComp: Yesterday's high + x
Infosystch: Yesterday's high + x

Choose only 1 of Wipro, TCS, SatyamComp or Infosystch.
Market is nicely setting up for acceleration mode. It may take 1 day to 3 days for takeoff. Strap your belts.

Other questions, end of the week!!!
VV

 

[darsh_goswami]

Hey VV,.. Charts look smart , but this time i doubt that it will be able to take support,.. May be mid-caps can shoot up but i dont find enough strength in the sensex of nifty,.. as of some of the stocks started losing their stemina,... Do check about banking counters,.. that might spoil the game,..

Then too lets see,..
Regards,..
Darsh

 

[mansukh]

ZeeTele might breakout???

Hi VV,
Attached is a chart of Zee Telefilms (ZEETELE).
I feel it is Ascending Triangle, supported at 285 and 292
I wuld like your comments on this.
Please Correct me if i am wrong.

Same was situation with I-flex before it broke out.

Thanx.

 

[VRV]

Hey VV,.. Charts look smart , but this time i doubt that it will be able to take support,.. May be mid-caps can shoot up but i dont find enough strength in the sensex of nifty,.. as of some of the stocks started losing their stemina,... Do check about banking counters,.. that might spoil the game,..

Then too lets see,..
Regards,..
Darsh

Lets see. BANKNIFTY went from 3400 to 5400 (60% increase). What do you expect. It will continue to go forever. Doesn't it require breathing room (consolidation/correction). So, may be market will correct. I am (Lets) not going to predict that. If we feel that personally, we have a choice to stay away.

I trade using pullback methodology. If a trade exists, I trade it. I don't care if it ends up in loss. Because, no one knows that. At least, market has not yet shown that. Sensex is still above 20 day EMA and 50 day EMA. If it continues to lose next couple of days, I will agree with you and stay from being long until correction/consolidation is over. I will get negative about it if 50 day EMA does not support it. Aren't we far from 50 day EMA. What U say?

ZeeTele
-- I don't know about triangle. But, it is consolidating. MACD has minor divergence for going long. I would wait for 305 to be taken out before getting interested.

I-Flex
-- Good one. Wait for pullback (according to my methodology)

VV

 

[Arwin_24]

Hey Guys Happy Diwali to all I am a new user here and new in share mkt so can u ppl help me to grow in mkt

 

[Arwin_24]

i bought satyam comp @ 438.when do i book my profit i read that its target is 470 to 480 and cmp is 426.what i mean to say is how much time wud it take

 

[Arwin_24]

do you guys have momentum shares tips???

 

[ngm23]

I'v been following ARVIND MILLS for some time and would like somebody to help me out. Just take out some time to go through the charts and just in case you notice any double bottom formation at around 65 levels.

 

[darsh_goswami]

hi ngm23 ,
ARVIND MILLS had been the underperformer even in the last rally,. Similarly it couldnt hold its pants up n run in this rally too. So i would definately not enter into such underperformer. As far as double bottom is concern ,.. ya it seems like that but it can only be confirmed if it crosses 72 with good volume. But i dont think so this is goin to happen ,.. wait for few days... It might slip down too.
This is my personal opinion. I would definately like to here comments from seniors.
Regards,..
Darsh