New Intermed Uptrend!!

[game4trade]

Hi Saint,

Need your advice on IVRCLINFRA. Can one go short on this one at current level (CMP 176)?

By the way are you in Singapore or settled in India now. Thought of asking as probably I may be visiting Singapore next month.

Awaiting you response.

Cheers,
Ashish.

 

[Saint]

Hey Saint,
1) Could you tell me how you filter your stocks..? There are thousands of stocks on the Nse / Bse.How do u pick them..?? ]
2) And could u please explain sell on rallies for me.? Once a pivot low is taken out how do u keep shorting rallies.. U also need to cover the shorts to sell it when there is a rally right..??
Thanks again Saint.. And r u / were u a professioanl teacher..?

Hi Trader123,

I believe that a fantastic chart pattern and a clear cut trend should be obvious to our Eye,and therefore I allow my Eye to go through them before making a decision on an entry or exit..............which means,I go through the whole lot at the end of each week.

And,as for the short term trades,I usually trade up and down using futures,therefore have to look at it everyday.

Selling on rallies===We break a previous pivot low and are in a downtrend,once that is confirmed,every rally is a shorting opportunity,and if you're holding longs,that first rally after the dntrend is confirmed is an opportunity to get out.

U also need to cover the shorts to sell it when there is a rally right..??

.............didn't get you on this one

No,my friend,never was a professional teacher..........even now not a teacher,just another student sharing whatever little he knows.

Happy Trading!
All the best!
Saint

 

[Saint]

mmmmmmmmm..saint...again most of my s/l got triggered yesterday (all at profits)....so i'm left with mtnl, that's all...that too i'm having only 100 @ 141.5...

so took advantage of yesterday's so called relief rally.........

thanks for sharing your experience..

ganeshhity

Most welcome,my friend!

Saint

 

[Saint]

Reading your mind Dato or are they TA querries? You'd answer these anyway, the true SAINT that you are.

......truly good to have you back in full flow,my friend!

Saint

 

[rajesh.sadhanala]

Hi Saint,

I came to know from papers that there is haze spread on KL, How r u ? Is everything fine over there.

Take care
Raj

 

[Saint]

Originally Posted by dominicsp
Hey Guys,
This thread is interesting and its fun for novices like me to see you debate on topics which are very informative to say the least. I've read books like Reminiscence of a stock operator, Sunday Business line, made a watch list on the ticker software I've downloaded from Traderji.
I've started small and picked up 25 shares of Reliance Petro at 60.05, 25 shares of Ashok Leyland @ 31.75 and 25 shares of ITC@ 167.30.

Some of my queries:
1. Am I on the right track and what else must I read to trade (other than the wonderful threads in this forum)
2. How do I decide on the sectors to make a shortlist
3. whats a CMP (I often read buy at CMP)
4. Is it necessary to put a stop loss for all the shares u buy in case of long term investment
5. I use sharekhan, what is the minimum brokerage they deduct for every transaction? and if I buy less is it a loss for me
6. I am planning to invest 5K every month on accumulating stocks and have started with around 20K.
7. I invest through SIP in a well balanced MF porfolio

Thanks in advance
Regards
Dominic

Hi Dominic,

3.CMP=current mkt price
4.Yes,for every trade or investment that you get into,there must bethat all important point where you will pull the plugs.
5.Wouldn't know abt Sharekhan
6,7.If you are playing with too small a capital,suggest you play with MF's first.

Happy Trading!
Saint

 

[Saint]

Hi Saint,

Need your advice on IVRCLINFRA. Can one go short on this one at current level (CMP 176)?

By the way are you in Singapore or settled in India now. Thought of asking as probably I may be visiting Singapore next month.

Awaiting you response.

Cheers,
Ashish.

Hi Ashish,

I ma having some data issues in IVRCL,shall answer once that is cleared.Apologies!!

No,in Malaysia now.........few things to wrap up over here.

All the best!
Saint

 

[Saint]

Hi Saint,

I came to know from papers that there is haze spread on KL, How r u ? Is everything fine over there.

Take care
Raj

Yep Raj,bad haze over here......but happens in this part of the world nearly every year.Sort of got used to it,although my lungs beg to differ!!

Saint

 

[Saint]

Thanks saint,amitbe and others for teaching me this great art...I recently dowloaded the chapter provided by one of the members here....a great learning stuff...
i'm also copy pasting saint's charts from this thread.....though i'm not putting up any queries, but still learning lot now here....unfortunately i do not have access to net at night, else i would surely have come online at night.......

Regarding this market, I still feel there is more downside to be seen..current position is not at all justifiable..sentiments not going right..that's all...i remember when sensex crossed 10000 in bull run, how happy people were and there was no word of caution, everyone jumping up to feet..the growth story is still intact, but investors sentiments gone wrong..anyway, i've done some trades in this dull phase and exitted with profits......i'm waiting for some consolidation now...let's see how it comes.......
I know, right descision taken at wrong time proves wrong..
so i'm waiting to time my investments now..

thanks again saint,

ganeshhity

most welcome,my friend......

Saint

 

[rahulg77]

HI saint,

I have come across two trades. would like u to share your view on them. One is cipla. According to me it has formed an inverted H&S pattern. At the same time MACD is just about positive, RSI is also just above 50 and stoch is also just crossed over. Also good volumes on left shoulder. volumes a bit low on the head and again low on right shoulder. A breakout should could be a good time to enter.

And SBI has formed a right angles triangle. All indicators are negative so a break down below would be a good time to short. I am attaching both the charts for your reference.