New Intermed Uptrend!!

[ssnkumar]

Hello Saints,

Do you have any suggestions for scrips that we can get into iff the market corrects (a bit)?

Thanks,
Narendra

 

[shrinivas]

Hi Jay

Yep we are back to the 12k levels,may even go a bit more......or not!

We have a few things going on the charts of NIFTY as of now.....we have bearish divergences on the TRIX,and probably in a few other indicators as well.We have this entire move trading within a rising wedge and a breakdown from this pattern would be more the expected move....then of course,the volumes.




To reiterate,we are back to Caution Time,play the trail stops,take profits,etc.......but not the time to get into fresh longs!

All the best!
Happy Trading!
Saint

Ahh..saint, now here we come..yes, profit booking may take place now...if you have look at TRIX and other indicators, this is not a buy time.....indiacators reveal to get ready, a break in priceline confirms it...but i may not be using net(busy and other official duties which keeps me far from office and net) hence i did not take chance...I've exited all my trades...but i remember you always asking me to wait and me entering trades from june till now......i may have been lucky this time, i got thru profits..but yes, this time i agree with you...this is the time to sit back and watch where the markets go from here....chances of going south are most likely....

thanks saint for all the write ups

ganeshhity

 

[alok]

Dear Saint & Vizzie & experts,

It looks to me that Balaji Amines, Jaiprakash Associates, Valecha engineering are showing some initial moves towards an uptrend.

Alok.

 

[vizzie]

Dear Saint & Vizzie & experts,

It looks to me that Balaji Amines, Jaiprakash Associates, Valecha engineering are showing some initial moves towards an uptrend.

Alok.

Hi Alok,

Valecha is in nice consolidation. But u may wanna see sm confirmation before plungin in.
Rest, a pullback needs to be looked for.
But, just a few posts back, saint has mentioned that it is now time for caution.
Going long now is risky. That's bout it.

cheers
vizzie

 

[vizzie]

Hi Vizzie,

If and when you get the time,could you just attach a chart and give me an example........would be only too glad to help.

All the best!
Saint

Hi Saint,

Am attachin a chart of madhucon projects, a recent entry of mine.
I was looking at this one frm 225 levels(september prices). It was in nice consolidation, and I wanted to catch the first move. The move did happen, but I entered very late, probably on its highest levels at 265 (arrow in chart). Since then, it started a pullback. My doubt is that
1) shld i wait for a higher pivot low. In case I do, I miss the initial move.
Does it make sense to take a plunge if a stock has really consolidated nicely.
2) What chart to look for while deciding the timing. Do we first look at weekly or is a juicy pattern on daily (like in this case) good enough?

Pls feel free to answer as and when you have free time. Looking forward to learning a lot from this post.

cheers
vizzie

 

[Saint]

Hi Vizzie,

Will look into it after market hours today.

Saint

 

[agupta]

Hey Saint,

Whats your opinion on Rel Comm? I have some pre-june holdings which have now finally crossed breakeven. Should I hold or exit at this point? Thanks for this.

 

[ssnkumar]

Hi Alok,

Valecha is in nice consolidation. But u may wanna see sm confirmation before plungin in.
Rest, a pullback needs to be looked for.
But, just a few posts back, saint has mentioned that it is now time for caution.
Going long now is risky. That's bout it.

cheers
vizzie

Hello Vizzie & Saint,

What is your take on Valecha now....it has gone down to 160 levels!
Will it start uptrend the near future?
What does the technical charts on this indicate?

Thanks,
Narendra

 

[Saint]

Hello Vizzie & Saint,

What is your take on Valecha now....it has gone down to 160 levels!
Will it start uptrend the near future?
What does the technical charts on this indicate?

Thanks,
Narendra

Hi Narendra,

A triangle of sorts over here in Valecha........possibility of breaking down or up from here.Sidelines for now.....Look out for a daily close over 188.That's the cue to get in long.

Resist the temptation of getting in here.....as said,can go either way from here.So careful..

Saint

 

[ssnkumar]

Hi Narendra,

A triangle of sorts over here in Valecha........possibility of breaking down or up from here.Sidelines for now.....Look out for a daily close over 188.That's the cue to get in long.

Resist the temptation of getting in here.....as said,can go either way from here.So careful..

Saint

Saint,

Thanks for the suggestion.
But, I am not trying to get in....I am trying to get out!
I entered Valecha when it was at Rs.340 and because of the unfortunate market correction in May 06, this one corrected a bit too much and fell to 130 levels.
So, after this it has come back to 180 levels and again fallen to 160 levels.
So, I was wondering whether it will start going up again and I can atleast reduce my losses

Since I haven't kept big amount in this one, I can bear with the loss and wait for a bit longer, if that loss can be reduced!

Thanks,
Narendra