New Intermed Uptrend!!

[mail2joshi]

Hi Saint,

Could you please advise me on the following
1) IDBI : My entry is @72
2) Bharat Forge : 280

Should I exit if there is not more uptrend ?

Also I am interested in
1) Triveni Engg
2) Dewan Housing
3) Unitech
Could you please advise if entry at this level is safe.

Many thanks for your time and help

Regards
sjoshi

 

[Saint]

Saint
I Require Ur Advice On Hanilera Textile.i Bought It As Per Research Of Icici.it Is Languishing At 20 Whereas In May It Was At 46.regards

Have a look at the previous post to Vizzie...........we have a daily in HANIL going sideways,a weekly so far making a higher pivot low(so far........being the operative word).And although we do have a weekly forming a higher pivot low,no confirmation as yet.Still officially in a dntrend........and as always,a weekly dntrend is not an ideal place to look for longs.

This sideways move could be the pause before the dntrend continues..........Risky plays that can damage one's account.Instead best to look for stocks that are in a weekly uptrend experiencing a pullback.

All the best!
Saint

 

[GKHERA99]

Saint
Thanx For Quick Reply

 

[vikasdewan]

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( Thought this post might be better to get your attention)

Dear Saint,
A very crisp explanation on the 20% gain regarding Teledata (if and when it ever reaches Rs.30).

One small pointer here: You mentioned the higher pivot on the weekly as a trend reversal and just wanted to ask you if Teledata qualifies for that. To add to the previous thread, the P/V data of recent 1 month in Teledata is indeed quite different from the "falling knife" you had aptly described it as once.

More industry specific news too: Teledata has received/will be receiving really large orders in the SWAN ( State wide area networks) domain from the central govt. The business potential is quite huge.

Would certainly appreciate your opinion (purely technical) on this.

 

[Saint]

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( Thought this post might be better to get your attention)

Dear Saint,
A very crisp explanation on the 20% gain regarding Teledata (if and when it ever reaches Rs.30).

One small pointer here: You mentioned the higher pivot on the weekly as a trend reversal and just wanted to ask you if Teledata qualifies for that. To add to the previous thread, the P/V data of recent 1 month in Teledata is indeed quite different from the "falling knife" you had aptly described it as once.

More industry specific news too: Teledata has received/will be receiving really large orders in the SWAN ( State wide area networks) domain from the central govt. The business potential is quite huge.

Would certainly appreciate your opinion (purely technical) on this.

Hi Vikas,

Let us take the weekly charts of Teledata.........we have a strong uptrend and then a double top in April 2005.From then till now,TELEDATA is now in a downtrend.....a primary downtrend.Now as per your question,yes,so far forming a higher pivot low on the daily/weekly.Is this going to hold and head higher,or is this something that is going to suck you in and then drop like a rock.No way of knowing that...except to wait and watch for now.

What changes the way we see this chart would be if we get volumes coming in and forming a Wide Range Bar,signalling to us that things are about to change for the better.Another point to look out for is the previous pivot high of 15.25 on the weekly chart........taking that point out is an indication of strength.

As for now,we have some strength by volumes a few days back,we have a higher pivot low,as has happened many times before.........so far nothing yet to plonk our money in and sleep well at nights.Best to wait for a confirmation.Agreed,you may miss out on that initial move........but is well worth a miss,as those funds are put in use elsewhere.

But stalk it though........as said many times before,you are the cheetah stalking the prey(teledata).The cheetah although it can outrun any prey waits and waits,stalks and stalks,it does not attack till odds improve in its favour,and chances of victory gets brighter and brighter.......then,and then only does it attack.

Same thing here........Stalk and stalk and stalk for now.

All the best,Vikas!

Saint

 

[pranayd]

Hi Pranay,

Omax is approaching an area of stiff resistance,not much upside in it.......and Era ........same thing.

But I see what you are looking at.......great going,my friend.

All the best!
Saint

Hi Saint,

Thanks for your advice and 'appreciation'. This tells me that I am on the right track, but the journey has just started! I know there are many more things to learn and imbibe, which will happen over time.

As per your advice, I have given these two a pass. But for academic purposes, I would like to get a couple of things clarified:

1. Now that you have hinted at it, I can clearly see the resistance for Era Constructions, but what about Omax? I thought the resistance was at around 105, which is already broken. Please let me know if I am missing out something here.

2. In either case, what would make one excited to enter these counters? When should one enter either of these?

3. This question is more generic in nature...we now see that the overall market (read Nifty) is overbought, heated up, due for correction, blah, blah...BUT if I see a good opportunity in a particular scrip, what should I do? Should I enter because the particular scrip has upside potential or should I stand on the sidelines because the overall market is not in my favour?

Please reply at your leisure...as now there's no hurry.

Thanks again!

Pranay

 

[Saint]

please logon to the website of Religare
http://www.religare.in

yawn......here we go again....all it needs is for the market to go up,and the advertisers are back.....Now waiting for the tipsters,sure sign of a mkt top!

Saint

 

[rahul_trader]

yawn......here we go again....all it needs is for the market to go up,and the advertisers are back.....Now waiting for the tipsters,sure sign of a mkt top!

Saint

Hi Saint,

Please explain few things i was never good at reading charts please have a look at the link below

http://www.icharts.in/charts.html

this is a chart of EKC from july till sep
after seeing this chart how do you determine that there was going to be a bull break any indication on this chart.

looking for your reply.

Thank you for your time on this.
Rahul

 

[judemit]

Hi Saint,

this is a chart of EKC from july till sep

Thank you for your time on this.
Rahul

Hi Rahul,
FYI: If i remember correctly there were two block deals on this counter few days back, i dont remember on which site i saw the info.

I am sure Saint will give you his analysis on this stock.

Thanks,
Jude

 

[mTrader]

free charting softwares

Hi
I have 2 needs (obviously i am new to tech trading) -
1. A free charting software that works in Indian context
2. Way of downloading NSE data into the software.

I tried searching for fchart..can someone post the URL of this website and details on the downloads..

also is this good, or there are others that you recommend
Regards,
mTrader