New Intermed Uptrend!!

[vinsu]

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 ,
Where do i see the Weekly / Monthly Charts ? Sorry for silly question but i tried different sites that give charts , only few have Java based charts.
I am new and trying to learn things , Please help
Regards
Vinsu

 

[vikasdewan]

Re: Fate of HFCL and Tata tele - Mah Stock

Hi Saint,
It's always good to see your comments/opinions ... Could you please explain this "Pivot low" funda in context of the weekly or the monthly charts ? And what exactly does it signify ?

Thx

Vikas

 

[vikasdewan]

Hi Saint,
Could you please comment on the prospects of Teledata Informatics? It gave a breakout to around 35 levels around 10 days back and is currently hovering at 32-33 .

I do some very ( very) basic level chart study and the 20 day EMA and 50 day EMA are on the verge of crossing . This should signify a medium term upmove ??? ( Please confirm this )

Thx an reply awaited.

Vikas

 

[sandynisha]

saint pls help me !!!

i have 7000 ispat shares @21.55 ,2000 MRPL @49.50.......pls tell me should i hold or sell them....????????

 

[Saint]

A very good one saint...had just come in to make a post on this when I saw yours.
Suggest a target?

Hi Amit,
Am looking for an initial target of 185.

Saint

 

[neelumin2]

Re: Fate of HFCL and Tata tele - Mah Stock

Traderji,
Any idea where will Wipro stock go after the split.

 

[Saint]

Hi Saint,
Could you please comment on the prospects of Teledata Informatics? It gave a breakout to around 35 levels around 10 days back and is currently hovering at 32-33 .

I do some very ( very) basic level chart study and the 20 day EMA and 50 day EMA are on the verge of crossing . This should signify a medium term upmove ??? ( Please confirm this )

Thx an reply awaited.

Vikas

Hi Vikas,
Very nice find.......TELEDATA INFORMATICS broke out on Aug 4th after which it has formed a nice tight sideways consolidation.Buy the breakout above 35 with a stop loss of 32 with a target of 42.Only as a short term trade.There's a lot of reistance at the 42 levels.

Happy Trading!!
Saint

 

[Saint]

Saint ,
Where do i see the Weekly / Monthly Charts ? Sorry for silly question but i tried different sites that give charts , only few have Java based charts.
I am new and trying to learn things , Please help
Regards
Vinsu

Hi Vinsu,
Am sure there are many sites that may give charts for free.....am not sure.Mine are from Viratech.Cost wise may be steep for some....but whether something is cheap or expensive is a relative term .So far I've had no problems.

Saint

 

[Saint]

saint pls help me !!!

i have 7000 ispat shares @21.55 ,2000 MRPL @49.50.......pls tell me should i hold or sell them....????????

Hi Sandy,
ISPAT INDS :Nice entry at 21.55.Charts of all time frames headed for a move up.Looking good so far.Stilla hold.

MRPL:Again nice entry.......,your stop loss is at 48,so far so good.Exit if stopped.

Happy Trading!!
Saint

 

[Saint]

Re: Fate of HFCL and Tata tele - Mah Stock

Hi Saint,
It's always good to see your comments/opinions ... Could you please explain this "Pivot low" funda in context of the weekly or the monthly charts ? And what exactly does it signify ?

Thx

Vikas

Shall do,Vikas........but a bit later!!Markets about to open.....