New Intermed Uptrend!!

[jamit_05]

Good eye,Shirurkar.........both looking good.Ispat especially nice.....probably joining you on this one and adding more over 38.

Saint

Hi Saint,

In the above post Ispat seemed "especially nice". Pls explain.

The stock is in daily down trend after the Red Horizontal line in the attached chart. However, the bar of 22nd May had record volumes and was a strong up bar. Is that one single bar convincing enough?

Amit.

 

[jamit_05]

Re: Is HLL a good buy

Ah,Amit,don't let anything spin your wheels,my friend.

Clean:An uptrend is made up of higher pivot highs and lows,downtrend lower pivot highs and lows.........the action is smooth.Curvature,gradient all smooth........not scratchy,lines all over the place.

Ugly:Scratchy,lines taking out previous pivot highs,next day previous pivot lows......too many gaps,lines,no clear cut patterns,etc


In a nutshell,look for charts that allow you trade without giving you nightmares..........There are charts out there with beautiful patterns and pivots,and then there are the others.........


Sorry for being as vague as possible..........difficult to communicate beauty or anything abstract except by "not this,and not that".......more of indications,pointers,.............not really descriptions and definitions.

Just keep track of the yummies and the uglies as I keep shooting my mouth off........think you'll find the pattern of what I am looking at and what I am pointing to.

Saint

Gotcha. Will look out for the yummies. Tks for trying to explain.

Amit.

 

[djsinha]

Bang Overseas is making higher pivot highs and higher pivot lows on the daily chart. Weekly is also in uptrend. Can be entered above the prev pivot high of 259.5.
Saint and others pls share your views.

Cheers
D J Sinha

 

[Saint]

Re: Is HLL a good buy

As an example... look at daily charts of TATA CHEM, SESA GOA, MAH LIFESPACE.
Now, compare these charts with those of AIA ENGG, EKC....

Excellent,Rakesh......

Saint

 

[Saint]

Bang Overseas is making higher pivot highs and higher pivot lows on the daily chart. Weekly is also in uptrend. Can be entered above the prev pivot high of 259.5.
Saint and others pls share your views.

Cheers
D J Sinha

No harm in that......with stops at previous pivot lows.But nothing sweeter than catching a move just after it completes a dntrend and is starting off a new uptrend.

Saint

 

[Saint]

Hi Saint,

In the above post Ispat seemed "especially nice". Pls explain.

The stock is in daily down trend after the Red Horizontal line in the attached chart. However, the bar of 22nd May had record volumes and was a strong up bar. Is that one single bar convincing enough?

Amit.

never went over 38..........nice weekly downtrend and then a daily uptrend that is still not a weekly uptrend as of yet which happens over 37.4.

We have that bar on the weekly.....a bull candle on 17th Apr week and another bullish candle followed by 3-4 sideways candles........Now that makes it especially nice!

If you had 2 stocks,both were in downtrends,both put up a daily uptrend that shows up as 1 or 2 bullish candles on the weekly.Stock A gives one sideways to mildly bearish candles after that and threatens to take new highs......Nice!Stock B gives more sideaways candles and then threatens to take out new highs.....Especially nice!!

Saint

 

[rakeshluthra430]

Re: Is HLL a good buy

Excellent,Rakesh......

Saint

Cloud IX..

 

[sachin_jain3]

Re: Is HLL a good buy

As an example... look at daily charts of TATA CHEM, SESA GOA, MAH LIFESPACE.
Now, compare these charts with those of AIA ENGG, EKC....

Have a look at the chart of EKC attached. I have tried to mark the areas of problem using blue circles. Are these the problem areas for which we say that the graph is ugly. Otherwise if you see for the last 2 months we can draw a smooth trendline (orange line)

Please comment.

Sachin

 

[djsinha]

Re: Is HLL a good buy

Have a look at the chart of EKC attached. I have tried to mark the areas of problem using blue circles. Are these the problem areas for which we say that the graph is ugly. Otherwise if you see for the last 2 months we can draw a smooth trendline (orange line)

Please comment.

Sachin

Well done Sachin. Yes, these are really the problem areas where your SL is likely to be hit due to too much noise.

 

[rakeshluthra430]

Re: Is HLL a good buy

Well done Sachin. Yes, these are really the problem areas where your SL is likely to be hit due to too much noise.

Would like to put it differently..... shares like these have low volumes...and most importantly...low delivery volumes. So, there is no 'conviction' in the buyers and sellers as per where the share may trade in future. So a relatively higher qty buy order will form a big spike in price and vice versa for a sell order.

The best way to approach these shares in not by buying breakouts (well that may also work but stop losses are not determined by Saints method of recent pivot lows... a different method shd be used), but by buying them on their support levels.

To cut the long story short... ignore them or prefer others over them when buying breakouts.