New Intermed Uptrend!!

[karthikmarar]

Hello!

Well No query this time...Just wanted to say hello!!!
Not taking fresh entries just watching the ones in the portfolio.

You and Amit reminds me of a Proverb

Knowledge makes humble;

Thanks to both of you for Sharing your knowledge with all of us.
Well 3 mos ago before i joined this forum i merely knew the A B C OF Trading .Now definitely i know something...and a longway to go too...

Thanks to this forum ,traderji ,Amit ,you, Ravi ,Supratik,Creameeee,Kartik.....and well i can add on....but... and to all the members for making this forum as wonderful as this.

Regards

Roneeth

Hi Roneeth

I am little confused ....is it my name in your message...or may be some other karthik? I dont remember any other karthik active in this forum... Seeing my name along with the others is like a league player suddenly finding his name in the national team..

Iam overwhelmed ... Like you I am also a learner..and long ..long way to go.. my knowledge has increased exponentially after I joined this forum . Thanks to a mainly Saint, Amit and ofcourse many others. Thanks to Traderji for having such a wonderfull forum..I really appreciate the patience of Saint and Amit. The best thing is that they clearly state the basis of their calls which throws so much light... a quality all of us should emulate before giving calls. I see some junior members give calls just like that.. I call them POTA calls ( Pulling Out of Thin Air .. )

It is really gratifying to note that my post are not just filling the digital spaces (..borrowing Amits words..). Hope we will have the "Mumukshatvam" that will drive us towards our goals. Thanking you..

best regards

karthik

 

[roneeth]

Hi Roneeth

I am little confused ....is it my name in your message...or may be some other karthik? I dont remember any other karthik active in this forum... Seeing my name along with the others is like a league player suddenly finding his name in the national team..

Iam overwhelmed ... Like you I am also a learner..and long ..long way to go.. my knowledge has increased exponentially after I joined this forum . Thanks to a mainly Saint, Amit and ofcourse many others. Thanks to Traderji for having such a wonderfull forum..I really appreciate the patience of Saint and Amit. The best thing is that they clearly state the basis of their calls which throws so much light... a quality all of us should emulate before giving calls. I see some junior members give calls just like that.. I call them POTA calls ( Pulling Out of Thin Air .. )

It is really gratifying to note that my post are not just filling the digital spaces (..borrowing Amits words..). Hope we will have the "Mumukshatvam" that will drive us towards our goals. Thanking you..

best regards

karthik

Hello Karthik!

Indeed it is your name......

All the Best in your Trading.

Regards

Roneeth

 

[viveksikaria]

Hi saint,

Thx for ur analysis on IVP. Today, Again it tested yesterday's high of 68, and slided to the levels of 65.5... Seems just needs one big push to get noticed. I did enter at the levels of 62 but not generating the desired results. Still , i think i would rather hold. Another thing, i feel performace of sensex is influencing it a lot. Whadya say?

I had bought rama newsprint and nagarjuna fert. at 17 but since then both r stuck at the same level. I m thinking of going out at no profit no loss; but still want an honest opinion ... can some one tell me whatz in store for theses two?

Regards,

Vivek

 

[Saint]

Dear saint
can you please enlighten me on the relevance of RSI
regards
aMAN

Hi Aman,
I only use RSI for bullish and bearish divergences.....

Saint

 

[Saint]

Hi Aman,

Had written to Anupama's query recently reg RSI.......

Hi Anupama,
Shall describe to the best of my ability.Am no master in Indicators but shall share what I know.

For checking out bearish and bullish divergences,RSI is a good indicator.

RSI:

Definition:RSI is a single line oscillator.It was introduced by Welles Wilder.
Range:0-100.Below 30 is oversold.Above 70 is over bought
Default period:14

BEARISH DIVERGENCE:When the overbought RSI diverges from price,it is called a bearish divergence.i.e The price keeps making higher highs and higher lows,but the RSI begins to make lower highs and lower lows despite the price moving upwards,we call this a bearish divergence.It signals a probable,a possible trend change to the down side.Is it therefore time to dump all your stocks......No!For that we need a sell signal,confirming that the trend has indeed reversed.

BULLISH DIVERGENCE:When an oversold RSI diverges from price,it is called a Bullish Divergence i.e the price keeps making lower highs and lower lows,but the RSI begins to make higher highs and lows despite the price moving downwards,it is a signal of a probable soon to happen change in direction to the up side.Is it therefore a time to buy?....Not yet till we get a buy signal.,confirming that the trend has indeed reversed.

Note:The RSI is most useful when it moves into its oversold or overbought zones, then reverses......not as powerful when it is wandering between 30 and 70.

Hope this helped in some way!

All the best!
Happy Trading!!
Saint

 

[ragh_ash]

Hi Ragh_Ash,
The previous two tops were at 75 and this will be an area of resistance and supply yet again.Taking out this area with vol will be a resumption of an uptrend.

Saint

thx saint,
now my next question. what are figures for volumes one looks at? i know it must be stock specific, but is it % of free float or what?
don't bother to reply immediately. i will be happy with a reply in u r free time.
(u must be feeling as if u r holding our hands and leading through the maze that this stock market trading is)
regards
ragh_ash

 

[viveksikaria]

Hey Saint,

Good gyan stuff on RSI, really helped the understanding. I also feel tht it is more powerful when it moves into overbought/oversold zone. Another important trend reversal indication tht RSI gives is when after remaining in the overbought/oversold zone, it comes out or about to come out of that zone. Once it is clearly out of the zone, I safely presume a trend reversal, and more or less it is accurate.

Please correct me if i am wrong.

Regards,

Vivek

 

[VICKY_SEEKINGINR]

Hi Aman,
I only use RSI for bullish and bearish divergences.....

Saint

Hi Saint

Thanks for giving this information.
but i want to know about Support and Resistence levels..

please give me a some guidence on this.

I know little bit about 20*50 and 50*200 Days moving avg.

I am checking thease moving avereves on indiabulls website
for Example Select ICICI Bank

I don't know How correct i am, if i am wrong then please correct me.

i am uploading a chart as per my knowledge. please give a more detail
about support and resistence levels.

Thanks a lot

 

[kkz59]

Hi Saint

Re.: Kitex Garments

Presently traded at 110/-. Could you please suggest the stop loss and the targets?

I also needed your advice on the subsidiaries of State Bank - SB of Travancore, SB of Bikaner and Jaipur, SB of Mysore. They have suddenly run up very much. Fundamentals are very very good. Do you see further upside in these scrips and what is the S/L.

Thanks

Kamalesh

 

[Saint]

Hi Saint

Re.: Kitex Garments

Presently traded at 110/-. Could you please suggest the stop loss and the targets?

I also needed your advice on the subsidiaries of State Bank - SB of Travancore, SB of Bikaner and Jaipur, SB of Mysore. They have suddenly run up very much. Fundamentals are very very good. Do you see further upside in these scrips and what is the S/L.

Thanks

Kamalesh

Hi Kamalesh,
KITEX GARMENTS --nice breakout from a neat ascending triangle.Ended this week strong.Looking good for higher prices.Raise the stop loss to the bottom of the current week's bar i.e 90.......My initial target was 115-120.But keep raising stops and stay with this one......and like I had posted to you yesterday........Ride the trend and enjoy the ride!!Great trade,my friend!

Happy Trading!
Saint