New Intermed Uptrend!!

[Satyen]

Hi hitesh Godrej shoud clear 300 level to begin its trend dont have todays data .....

Waiting your veiw also m attaching the chart

Saint can confirm

Regards
Satya

 

[sillu_m]

Dear Saint hello...

Here i m attaching Chart of maruti......what interpretation can be made....

What do we do now should go Short or long for may month.

Thanxin advance.

 

[hiteshsjoshi]

Hi hitesh Godrej shoud clear 300 level to begin its trend dont have todays data .....

Waiting your veiw also m attaching the chart

Saint can confirm

Regards
Satya

Hi Satya,
Thanks for the response.
Wont qualify myself, even as amateur in chart reading. But to me it looked like Godrej is on verge of an uptrend (I may be wrong, as I am most of the times). In fact, I took position in it at 281 levels.

BTW, where is Saint? Waiting for his comments as well.

Thanks,
Hitesh

 

[Satyen]

yes saint may be bussy with his positions ...

Regards

Satya

 

[Saint]

Godrej looking good. Can anyone please confirm?

Let previous pivot highs on the weekly get taken out.........only enter once it can cross 298.

Saint

 

[Saint]

Hi hitesh Godrej shoud clear 300 level to begin its trend dont have todays data .....

Waiting your veiw also m attaching the chart

Saint can confirm

Regards
Satya

Well done,Satya!

Saint

 

[Saint]

Hello Saint...

You did not answer my question
Is it not a good question? well i repeat my question again....

Now as Nifty is above 5000... where is your SL for the trade tht u got in at abt 4660... is it still there ? or have you exited some of ur postions? or upgraded your SL....

I ask this question... so tht ur answer help learning the strategy of the pivot system u follow... i guess according to that system one should hold still with SL of 4660.... until a higher pivot low is formed... (plz correct me)... which has not yet been formed... but in tht case one may loose a large chunk of the profit...

would it not be good to keep a SL at 4970? where the market gave a breakout... ( plz correct me...)

plz answer my question Saint this time....

Regards

Hi MB,

Sorry for the long delay ....... missed the first question somehow.....apologies!

As said before,NIFTY is yet to confirm an intermediate uptrend.....so pivots system alone is too unsafe,simply because we have no intermediate uptrend,yet we are trying to catch a daily uptrend........therefore we put our stops to the low of the bar 2 days ago,every time we make new highs....in this case,we have a set of candles all next to each other,so am taking the low of the candle before that,ie 17th April---4920.Stop's now at 4910(giving it some breathing space).

Will not be doing this if we were in an intermediate uptrend......If we were,yes,I would have brought stops up to 4685,ready to probably give up nearly 400 pts in a bid for greater gains.

That time will come,.......but not yet!

All the best!
Saint

 

[Saint]

Had exitted all Bombay Dyeing yesterday as indicated with the break of the low of 860,....out at 856.


Nice gains in that one,a 135 points from 715........an example of what a WRB on high volumes can do to your account.

Will be looking to reenter if it can put up a decent mild gradient pullback.

Saint

 

[Saint]

Nice out on AMTEK.........an example of weekly resistance being too tough for it to outmanouevre,if it closes hereabouts,probably a fall next week.

Saint

 

[Saint]

Looking to exit out most by day end .......unless we get strong ends.....

Saint