New Intermed Uptrend!!

[Saint]

Yep,strong uptrend in FAG as well,Mohit........but however strong the uptrend,make sure your entry points are not too far away.There are many who lose massively in a strong bull run because they buy too far away from the pullback,and then when that pullback comes again,they call it a CRASH!!!!

So,first identify:Is that stock in an uptrend?If it is in an uptrend,then we think BUY DECLINES.If it is a dntrend,then we think SELL RALLIES.

Now that we know that SUN or FAG is in a clear cut uptrend,now we think BUY DECLINES but where?Prices recede making lower lows and highs over the next few days,and then makes a higher high......ahh,time to BUY.Even better if it uses a trendline or moving average as support.

Even better if we see that volumes came in on the breakout and then receded in the pullback.

Once in the trade,then keep moving stops to the previous pivot till stopped out.

All the Best!

Saint

 

[Saint]

Hi saint,
How is praj industries looking?
thanks

Hi JNTrade,Mohit,

Below is a chart of PRAJ INDS...... an example of what was just said.We got a breakout recently over that area of resistance.Expect that area to hold up as Support if it does pull back.Are we saying that PRAJ will pullback till that area?No idea.Are we saying that PRAJ will pullback at all?Again,no idea.Importantly,not to have an idea gives you that extra edge,that clarity and objectivity to see things as they are and not what you expect.

What I want from PRAJ is a mild pullback or a sideways movement till prices come somewhere near the moving average or trendline or that support area.No pullback,no position as far as I am concerned.Once I get a pullback,then my risk for that trade is less.Then I get to pound it with a much bigger share size as well.

So for Praj,JNT,I am looking for a pullback to some support.Till then a wait and watch.

Saint

 

[jntrade]

Thanks Saint for ur educative reply.
Now I am not trading too much.
when I came to market before coming to this forum,bought and sold many stocks.Some in gain others in loss.Then found it is not the proper way.During searching the internet for knowledge I found this forum and all of u great guys sharing information.Now I feel much more comfortable than before.
Mean while reading Elders "Come into my trading room".Great Book!.All newbies must read that.Also downloaded Fchart and updating data from Nse with the wonderful tool that Satya developed.Many thanks to him too.
For now, only trading to know how to trade.
I think it is better than shooting in the dark!
Once again thanks and regards to you!

 

[Saint]

Thanks Saint for ur educative reply.
Now I am not trading too much.
when I came to market before coming to this forum,bought and sold many stocks.Some in gain others in loss.Then found it is not the proper way.During searching the internet for knowledge I found this forum and all of u great guys sharing information.Now I feel much more comfortable than before.
Mean while reading Elders "Come into my trading room".Great Book!.All newbies must read that.Also downloaded Fchart and updating data from Nse with the wonderful tool that Satya developed.Many thanks to him too.
For now, only trading to know how to trade.
I think it is better than shooting in the dark!
Once again thanks and regards to you!

Great attitude,my friend..........yes,best to get an education before shooting in the dark,and worse shooting your own foot in the dark.And great book......Wishing you all the very best on your path to Trading Mastery!

All the best!
Saint

 

[jntrade]

Mean while reading Elders "Come into my trading room".Great Book!.All newbies must read that....

Fortunatly we got enough doctors in the trading room.some in Psychology and some in Chartology!

 

[mgirotra]

Yep,strong uptrend in FAG as well,Mohit........but however strong the uptrend,make sure your entry points are not too far away.There are many who lose massively in a strong bull run because they buy too far away from the pullback,and then when that pullback comes again,they call it a CRASH!!!!

So,first identify:Is that stock in an uptrend?If it is in an uptrend,then we think BUY DECLINES.If it is a dntrend,then we think SELL RALLIES.

Now that we know that SUN or FAG is in a clear cut uptrend,now we think BUY DECLINES but where?Prices recede making lower lows and highs over the next few days,and then makes a higher high......ahh,time to BUY.Even better if it uses a trendline or moving average as support.

Even better if we see that volumes came in on the breakout and then receded in the pullback.

Once in the trade,then keep moving stops to the previous pivot till stopped out.

All the Best!

Saint

Dear Saint

Thanks for such a detailed and educating reply. So If I get it right, we wait till Sunpharma makes a pullback and if it stays above the trendline and makes higher high and low, we get in and put a stop at the trendline / MA(55) whichever is higher.. and then keep trailing stops at subsequent pivot highs as and when they are taken out..

thanks and regards
Mohit

 

[ssnkumar]

Hi Narendra,

The trend is still not broken.Previous pivot low of 1025 is still holding.A break of that level and maybe you should sell it off.Keep your stops at 1020.If hit,take your gains.

Saint

Thank you very much Saint.

Regards,
Narendra

 

[mgirotra]

Fortunatly we got enough doctors in the trading room.some in Psychology and some in Chartology!

..and more than enough patients

 

[cube]

Hi all,

I think following stocks should be on the watchlist.
Saint please tell your views.

1. Mcdowell
2. Piramyd retail
3. Titan industries.
4. Aztec software.


Thanks,
Cube

 

[rvgandhi]

Mahindra GESCO and Gujarat Alkali both going great guns today!!