New Intermed Uptrend!!

[rahulg77]

Manage your longs that you hold on to as of now.No new longs for now unless you get a super juicy pattern that is not following the mkt.

Saint

Hi Saint,

what exactly do u mean by manage your longs. Most of the scripts are hitting there stop loss as the market is falling. hardly any share that is not falling. what should the strategy be in this big correction. I am asking not in relation to new positions but in existing positions.


Rgds

Rahul

 

[Saint]

Hi Saint,

what exactly do u mean by manage your longs. Most of the scripts are hitting there stop loss as the market is falling. hardly any share that is not falling. what should the strategy be in this big correction. I am asking not in relation to new positions but in existing positions.


Rgds

Rahul

Hi Rahul,
Managing longs means just as you described.Hold on so long as stops are holding.Get out once stopped.........as far as mkt is concerned,the ongoing intermediate uptrend is over.Long term uptrend is still on.As far as the intermed term is concerned,we are no more in an uptrend.Which does not mean we are in a downtrend as yet.We are now in area where the previous intermed uptrend is over and we await the next turn of events.

Stock wise,many are already in downtrends........basically stand aside till we get a clear cut change in trend back up.

For now,we wait.........

Saint

 

[vikasdewan]

Hi Saint,
Can I have your take on Prism Cement please ? From Rs. 20 to Rs. 48 and now hovering around 37-38 ............

How's it looking in the short and medium term ?

Many thanks

Vikas

 

[Saint]

Hi Saint,
Can I have your take on Prism Cement please ? From Rs. 20 to Rs. 48 and now hovering around 37-38 ............

How's it looking in the short and medium term ?

Many thanks

Vikas

Hi Vikas,

Prism cements still in the middle of a pullback......looks good so far.On your watchlist for sure for now

Saint

 

[Saint]

Hi Saint,

Could you have a look at TATA TEA and MCLEOD'S?Both look set for higher prices.......would like your comments first before entering.

Thanks in adv,
Anu

Both looking great so far.......the mkt looking suspect though.Once McLeod's puts in a close at the end of day over 145,that's giving you an idea that it is ready to fly.You could buy here aportion and add the rest over 146.

All the best!
Saint

 

[Saint]

Thanks you so much Saint.
I have one more query.

Please tell me your view about Reliance Natural Resources.
Is it a good to enter it at current prices?

Regards,
Narendra

No Narendra,......hold off till we get a clear trend first.

Saint

 

[rahulg77]

Hi saint,

had a query. If we are drawing a trendline and in between we come at a trough and the trendline goes way above it and then somewhere ahead when price has moved up again and uses this trendline again as support. can we draw a trendline like this or once a trendline is broken we have to draw a new one. or we let the old one continue and make a new one from the latest pivot low and use both to monitor stops.

Even if a long term trendline is broken and then it again gives support can we continue with the same trnedline or have to draw a new one. also the same question for intermediate.

Could you pls draw the trend line on sensex- long term and intermediate and also for some other stock maybe jai prakash associate.

Also if we are following a stock and it is very nicely following a trendline and suddenly its momentum increase and starts gapping away a lot from the trendline. do we draw a new trendline and use that to exit part of the portfolio or we follow the old trendline.

sorry its very confusing. actually I am not quite sure of how to ask this question. hope u got a idea at what I am aiming at.

Rgds
'
Rahul

 

[makri]

Pl see this

hello sait

What is the future of Chemplast sanmar!!

Mak

 

[ravi1967]

heard that carbon credits for all will be delayed for all companies. this carbon credit was a major factor for chemplast to rise. so guess you have to wait

 

[rahulg77]

Hi Rahul,
Managing longs means just as you described.Hold on so long as stops are holding.Get out once stopped.........as far as mkt is concerned,the ongoing intermediate uptrend is over.Long term uptrend is still on.As far as the intermed term is concerned,we are no more in an uptrend.Which does not mean we are in a downtrend as yet.We are now in area where the previous intermed uptrend is over and we await the next turn of events.

Stock wise,many are already in downtrends........basically stand aside till we get a clear cut change in trend back up.

For now,we wait.........

Saint

Hi saint,

Most of the stocks due to heavy fall of the market have the intermed trend broken. Now when we say we stand aside till we get a clear cut change in trend back up would mean that we wait till they make a higher pivot high, then we wait for a pull back and then buy at a point where we feel the stock should bounce back because of any reason( support level, MA, old trend line etc). Would that be correct

Rgds

Rahul