New Intermed Uptrend!!

[jamit_05]

Karma and Guidance.

I was just going to post ADLABS when I saw this post........yep,looking great.Confirmation of daily uptrend is when that prev pivot high is taken out.Now a few negatives.....Look at the monthly chart,check out the blast off that occurred in 3 months prior to the fall.It would have been greater if the pullback was half to two-thirds of that rally,but retracing the full distance is not very bullish as far as intermed and primary uptrends are concerned.But a break of previous pivot highs still give us a tradeable daily uptrend,.......of course,to exit on a pivot low crack on the daily.

If we get one solid month up,and then probably a few sideways,then would say that this one's looking all yummy all over again.

Saint

Great stuff. With such guidance it is now interesting to watch the markets. The fear is reducing as understanding is setting in. Tks again Dr. Saint.

Amit.

PS: As Jains, we believe it is cuz of good Karma that good things happen to one. Therefore, it is doubly joy that we get ur guidance. Firstly, cuz it is proof that we have indeed done good karma and the fact that we can now make money in the markets

 

[Saint]

So far so good on all the 4....stalking a few others!

Saint

 

[Saint]

Re: Karma and Guidance.

Great stuff. With such guidance it is now interesting to watch the markets. The fear is reducing as understanding is setting in. Tks again Dr. Saint.

Amit.

PS: As Jains, we believe it is cuz of good Karma that good things happen to one. Therefore, it is doubly joy that we get ur guidance. Firstly, cuz it is proof that we have indeed done good karma and the fact that we can now make money in the markets

Thank you for all the kind words,Amit.........don't deserve most though,but thanx anyway!

And yes,that's the whole idea.........the more we follow the trend,and we have ways to know that we are doing so,and we stick to it.......we give up the notion that "I" am important in the trade,.......the fear/greed factors come down,and our minds are focussed to put in that perfect trade.

All the best!
Saint

 

[jamit_05]

Suzlon is in daily-up too? The charts never did really show a daily close above the pivot high of 282. But this just might happen today.


Tatatea is a buy in hourly chart above 894 with SL: 868?

 

[Saint]

up in Divis Labs about 120 odd points.....flat on GMR......Up 50 odd on India Infoline.....TATA POWER up 60 odd.....

PARSVANATH looking yummy .....stalking it on the 60min.

Saint

 

[uasish]

Gr8 ,as usual.

 

[renu daga]

sir,,,saint,,,now ur view son nifty interim uptrend!!!

if look carefully teh weekly charts,,,,showed slightest sign of reversal ...but low did not pierecd,,,teh previouos low,,but was almost equal,,,

nifty still holding good in weekly indiacator,,,still upmove is left..
asish da u were talking of impule wave,,,can u specify the value,,,,i think u talked on eod basis.....
and tiodays -70 could be taken as an off,,,or the down leg moer sharp u think

renu

 

[Saint]

sir,,,saint,,,now ur view son nifty interim uptrend!!!

if look carefully teh weekly charts,,,,showed slightest sign of reversal ...but low did not pierecd,,,teh previouos low,,but was almost equal,,,

nifty still holding good in weekly indiacator,,,still upmove is left..
asish da u were talking of impule wave,,,can u specify the value,,,,i think u talked on eod basis.....
and tiodays -70 could be taken as an off,,,or the down leg moer sharp u think

renu

Not yet on daily uptrend,not yet an intermed uptrend......above 4968 ,Nifty Spot gets into a daily chart uptrend.

I am holding 60min longs though from 4677......would be sweet if that pivot high on the daily can get taken out.

Saint

 

[Saint]

So, you mean that if you are "combinationing" then you are not really as sure as when you are reacting. Therefore, you prefer to have a tighter stop. This is what you did for your recent entry in GMR Infra?

Amit.

Hi Amit,

I have a stock making a higher pivot low.......let us say we are talking abt GMR.It's been looking like basing and forming a higher pivot low.I then look to buy at 141-142,with a stop loss of 138-ish......But as is obvious I have yet to get my higher pivot lows confirming an uptrend as yet.

What I am looking for is to get in before the breakout happens.........and then to pile in during the breakout.

Yep,always more sure once the pivot highs are taken out.

Saint

 

[Saint]

Re: Buying the first time the trend changes?

Hi Saint,

Divis Lab changed the daily trend to up on the 10th, and you made an entry on this day itself. My question is: The weekly is down, then why buy daily? However, if you wanted to trade the hourly chart, arent you supposed to wait for a pivot high break from an hourly downtrend?

Please clarify.

Amit.

Amit,

Once again,same answer as GMR........Moved in before the move,got the move past pivot highs therefore a confirmed uptrend on the daily charts........little more to go to say that this probably is an intermed uptrend.

NB:Only when I get patterns like these do I bother to anticipate a move......why anticipate,when you could wait and just react once the move happens?No harm in the latter.....but anticipating a high probable move before it happens allows me to enter nearer to my stops and therefore pile in more shares into that trade..........over the years,have seen certain patterns successful more times than not.....For example,a tight ascending triangle,I would anticipate a breakout and move in before the breakout happens.......it could fail,but more often,it doesn't.

Another example.......We have what looks like a double bottom....I wouldn't anticipate an entry till confirmation or pivot confirmation......why?Coz more often than not,it's just a descending triangle formation in progress that continues in its downward move.

Now,which ones are more reliable,............Ah,for that,I would tell you,pour through a 1000 charts or more!

Happy Trading!
Saint