New Intermed Uptrend!!

[neeraj4u]

saint, thanx again for your prompt and to the point reply.

cheers
Neeraj

 

[tradebull]

Hi Neeraj,
Martin Pring in his book Tech Analysis Explained says that first draw the upper line and the lower line,all this you have already done and you got a triangle pattern.Now draw a parallel line to the base of the triangle and pass it through the highest peak(in Vijaya Bank's case-the April 04 peak),you'll get somewhere around 110-115.
John J Murphy in his book gives two methods,one the above method.Method 2:Take the highest peak in this case of Vij Bk,Apr 04 peak(75)Drop a vertical line to the base(somewhere about 34).The length of that line=75-34=41.Add 41 to breakout levels 75+41=116.

I'd be happy with 110....Target for Vijaya Bank is therefore 110.

Of course,now you calculate the reward to risk.In this case stop loss is at 55.Current levels is 66.Rew:Risk=more than 3:1.......so well worth the risk taken.Now calculate the share size as discussed above.As the trade progresses keep moving your stops up as higher pivots are made.

Hope this helped!
Happy Trading!!
Saint

Saint,

Appreciate your knowledge and command over these evaluations.
But do these analaysis methods also have some measure on the time span that the stock may take to reach the predicted value ?.

T

 

[roneeth]

Hi Neeraj,
Martin Pring in his book Tech Analysis Explained says that first draw the upper line and the lower line,all this you have already done and you got a triangle pattern.Now draw a parallel line to the base of the triangle and pass it through the highest peak(in Vijaya Bank's case-the April 04 peak),you'll get somewhere around 110-115.
John J Murphy in his book gives two methods,one the above method.Method 2:Take the highest peak in this case of Vij Bk,Apr 04 peak(75)Drop a vertical line to the base(somewhere about 34).The length of that line=75-34=41.Add 41 to breakout levels 75+41=116.

I'd be happy with 110....Target for Vijaya Bank is therefore 110.

Of course,now you calculate the reward to risk.In this case stop loss is at 55.Current levels is 66.Rew:Risk=more than 3:1.......so well worth the risk taken.Now calculate the share size as discussed above.As the trade progresses keep moving your stops up as higher pivots are made.

Hope this helped!
Happy Trading!!
Saint

Hello Saint!

Thanks for all the guidance.

Regards

Roneeth

 

[joy_mitali]

Hello Kravindram,
What to say Sir-----If the facts and the price cotations u have given r true----
Then I m very sorry to say---then u have made the worst possible blunders----or to be more precise---the one who has guided u has made the greatest offence of not making u aware of the consequences that can be----Ur loss on Fridays Close---is Above 55k----Around 56--58k---depending on ur brokerages----

Now the thing u can do is to see----how much loss u can reduce---
I think---SBI attained its highest price of 27.2(when SBI was 816)yesterday---before closing at 18.5---(when SBI was 805)---Even if SBI reaches 820+---its unlikely that u can get a price of 32----So better t o get out at around25-to --27---Whichever price u get---Otherwise U have to take more risk---Buy 1 lot at 17.5--8--around if market falls---and get out at 23---24---which will give u a profit around 3.5---4k---U should have sold on 18th at around 35----day high went 37----

ALL_BNK---I dont expect u get a price more than 5(chances remote)-----U can buy1 lot at 1.4 get out at 2(1k profit)----but if it falls to 1, u can end up with a loss of 1.5k more---I think if market bullish---ALLBNK---may rise to 92---

KTK BNK----U try to out around 6--7 if u can get--------(todays close 2.85)
SYN_BNK----I do not expect a price more than 2(at most)--(Todays close--.35)

U can contact me at:joy_mitali_yahoo.co.in

Regards,
joy_mitali

 

[ragh_ash]

Hi ragh_ash,
Stop losses differ as per the time frame you are trading.I need to know your entry points and whether these are long term or short term trades.

Thank you
Saint

HI SAINT
MY ENTRY POINTS ARE AS FOLLOWS:
HM: 40.4
GEOJIT: 101.45
TATA POWER: 434
BILT :121
CUMMIN: 152
ESCORT; 109
MAWANA SUG :100
CEAT : 85.6
SAIL :64
FURTHER WHAT TO BUY ON 22/8 PLEASE?
REGARDS
RAGH_ASH

 

[aman1973]

Hi Aman,
Answered this question once before asked by yourself.The above are the books that you could start off with.Sitting at the bottom of the mountain and wondering how to get to the peak........seems almost impossible!!Can be frustrating!Take the first step,then the second step.....soon you wonder how you got this high!!

Be it thru fundamentals or technicals,one has to figure his way.After figuring that one out,proceed to educate oneself.....books,seminars,whatever.
But important to take that first step,my friend.

Saint

 

[aman1973]

Dear Saint
thanks for your words of wisdom
regards
aMAN

 

[devansh_god]

pls guide me saint..........

dear saint,
i think that u r the great master of technicals and apart from traderji.....i suppose there is no one equivalent 2 u in technicals........i want to learn technicals ur way.........pls recommend ONE book.......i m a short term trader......got 2 good options bfore me.........one book is by john murphy, the ther one is from martin j ping.............pls suggest one of them which is easiest 2 read and understand for a small beginner like me...........
as u say i want 2 learn 2 fish.....
all seniors pls provide valuable inputs............
thanx in advance

 

[Karuna]

Dear Joy_mitali,

Thanks a million for your reply, though I must say my heart really sank when I read about the possible future for my options. I cannot blame anyone but myself for taking those decisions. I now realise how important some kind of analysis is for making it good on the stock market. Ever since I became a member of this forum I have only been reading the posts sometimes just cursorily. It is only now that I realise how much one can gain from the good people around here. You all are doing a great job folks. Thanks to Traderji who is the main person behind all of this.

What kind of analysis do you do, Joy ?? Can you help me decide on what options to buy for sept ??

Thanks again,
Karuna

 

[Saint]

hi saint,
i am into
a) geojit
b) bilt
c)HM
d)cummins
e)mawana
d)escorts

pl tell SL for all these
ragh_ash

HI SAINT
MY ENTRY POINTS ARE AS FOLLOWS:
HM: 40.4
GEOJIT: 101.45
TATA POWER: 434
BILT :121
CUMMIN: 152
ESCORT; 109
MAWANA SUG :100
CEAT : 85.6
SAIL :64
FURTHER WHAT TO BUY ON 22/8 PLEASE?
REGARDS
RAGH_ASH

Hi Ragh_Ash,
I presume these are short trm trades,accordingly the stop loss.
HIND MOTORS:Nice entry....sweet gains.Raise Stop Loss to 43
GEOJIT:Raise SL to 120
BILT:Keep SL at 110
CEAT:is in supply area,if meant as a short term trade could get out and put money elsewhere.Nice profits.Else,raise SL to 90
CUMMINS:Keep sl at 142.5
SAIL:Raise SL to 60.5
TATA POWER:Keep SL at 414
MAWANA:Keep SL at 96

Happy Trading!!
Saint