New Intermed Uptrend!!

[Saint]

Hi Saint
hello i am a new member

A warm welcome to you to this truly great forum........hope you go through all the very many threads out there.If you are a beginner,there are many to get you started on this path of Trading and Investing.If you are an experienced hand,many threads out there that would be at your level.So do look around,take the time,go through them all,and have fun!!

Looking fwd to your posts.

All the best!
Saint

 

[ngm23]

Gm Saint! I'd like your views on SKF INDIA and GTN IND? Both have made goods moves and seem to be retracing. Are they worth tracking?

 

[alok]

Dear Saint,

As usual, it is very nice to see your posts..

I have one request... I have made a substantial portfolio for long term and would like to seek your opinion on these counters. If you won't mind, I would like to send a pm or email for your views....

Alok.

 

[Saint]

Gm Saint! I'd like your views on SKF INDIA and GTN IND? Both have made goods moves and seem to be retracing. Are they worth tracking?

Hi ngm,

SKF--Well,we are in that area where we cannot say for sure the direction of the trend,and as the famous phrase goes,"When in doubt,stay out."As we are not looking at smaller time frames and small gains,and are looking at the intermed time frame,what we want SKF to do is to tear upwards and then our strategy would be to either buy the breakout over the previous week,or the pullback after the breakout.So,one could enter into some position over 336(previous pivot high on the weekly),and add some on the b/out,and add more on the pullback after the breakout........At these levels,stay out,my friend,and save your psyche from a lot of unnecessary worries.

GTN--The monthly looks bearish,the weekly doesn't tell us anything,looking at the daily alone can sometimes damage our psyche and our account.Knowing that there are some great ones out there,don't put your bets on this one........Advice would be to keep hunting for a better one!

All the best!
Saint

 

[Saint]

Dear Saint,

As usual, it is very nice to see your posts..

I have one request... I have made a substantial portfolio for long term and would like to seek your opinion on these counters. If you won't mind, I would like to send a pm or email for your views....

Alok.

No problem,my friend..........you could pm me.

All the best!
Saint

 

[Saint]

Saint,

I have the following observation about NTPC, which I want to validate.

It is shaping out to be in inverse H&S and is going to be breakout the above the neckline soon. The trend also seems to be moving nicely upwards.

The MACD is also indicating a breakout soon..

Hence, It may be good buy in the current context, with resistance coming in at 132.5. Am not able to have good justifaction of support value ( pls assist )

Regards,
Rinv

Hi Rinv,

Agreed on the trend........it's still in a primary uptrend.In an intermed uptrend as well.And as all trend traders do,we follow the trend.So far so good....a break below 125,and this intermed uptrend is over.If this takes out previous pivot highs,this intermed uptrend is intact......Every pullback in an uptrend is a buyable opportunity.We just had a pullback and now it's making a move to the up.Can we buy this?Sure.......but the all important stop is at 124.Breaking 124 (Rs1 less than 125 which is the pivot low to give the trade some room) and we are out of this trade.

About MACD indicating a possible breakout,have no idea......never used macd.Probably you could ask Karthik in "Experiments in tech....."

Another thing,.........if you could post the chart of ntpc and indicate where that inverse h&s is,would be a great help.I see one that broke out of its neckline in August,but do not see what you are pointing to.Would be a great help....

All the best!
Saint

 

[alok]

Just PM'ed you... please take your time as it is a big list.
Regards,

Alok.

No problem,my friend..........you could pm me.

All the best!
Saint

 

[rinv]

Saint,

Thanks for the response.

I'am not sure about the Inverse H&S. Pls see the attached chart to validate this. I'am talking about the one thats on the right extreme..i feel ( which may be wrong ) that the right shoulder is getting formed..

Btw, I used the charting s/w at bseindia. which are the better ones that you recommend which are freely available.

Regards,
Rinv

Hi Rinv,

Agreed on the trend........it's still in a primary uptrend.In an intermed uptrend as well.And as all trend traders do,we follow the trend.So far so good....a break below 125,and this intermed uptrend is over.If this takes out previous pivot highs,this intermed uptrend is intact......Every pullback in an uptrend is a buyable opportunity.We just had a pullback and now it's making a move to the up.Can we buy this?Sure.......but the all important stop is at 124.Breaking 124 (Rs1 less than 125 which is the pivot low to give the trade some room) and we are out of this trade.

About MACD indicating a possible breakout,have no idea......never used macd.Probably you could ask Karthik in "Experiments in tech....."

Another thing,.........if you could post the chart of ntpc and indicate where that inverse h&s is,would be a great help.I see one that broke out of its neckline in August,but do not see what you are pointing to.Would be a great help....

All the best!
Saint

 

[ssnkumar]

Hi Narendra,

Same advice as always.......let the stock prove its mettle before commiting one's funds into it.Nice move so far on Crom Greaves.Buy at 250,with a stop loss at 230.

Hotel Leela--Buy if it crosses 67.5,with a stop at 62.........Nice one,my friend.But as in anything stock related,could end up heading the wrong direction.Therefore let it prove its strength and share size accordingly as always.

Tata Tea--keep this one on your watchlist for now.Once again we wait patiently for this to demonstrate strength........probably over 790,we need a re-look again.So far looking good.

Zee Tele--So far looks good to make newer highs.Assess the pullback over the next few days.If we get a mild pullback,or sideways consolidation,then we are good to go.

Orchid Chem--Allow it to break out of this sideways consolidation.Buy at 223 with a stop loss at 194.Trail stop upwards,and share size properly.

Narendra,all good ones..........your eyes are spotting n identifying juicy ones when you see them.Great going,my friend.

Happy Trading!
Saint

Thanks for the suggestions and encouraging words Saint.

Regards,
Narendra

 

[ssnkumar]

Hi Narendra,

Same advice as always.......let the stock prove its mettle before commiting one's funds into it.Nice move so far on Crom Greaves.Buy at 250,with a stop loss at 230.

Hotel Leela--Buy if it crosses 67.5,with a stop at 62.........Nice one,my friend.But as in anything stock related,could end up heading the wrong direction.Therefore let it prove its strength and share size accordingly as always.

Tata Tea--keep this one on your watchlist for now.Once again we wait patiently for this to demonstrate strength........probably over 790,we need a re-look again.So far looking good.

Zee Tele--So far looks good to make newer highs.Assess the pullback over the next few days.If we get a mild pullback,or sideways consolidation,then we are good to go.

Orchid Chem--Allow it to break out of this sideways consolidation.Buy at 223 with a stop loss at 194.Trail stop upwards,and share size properly.

Narendra,all good ones..........your eyes are spotting n identifying juicy ones when you see them.Great going,my friend.

Happy Trading!
Saint

Today Crompton Greaves has raised nearly 5%! Hope it will continue the trend

Regards,
Narendra