Some Good Steals...
- Thread starter AMITBE
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Hi Joshi...sorry to see you enter high and trapped on this one...you obviously entered on the day it hit the high at 134 and declined.
When one chases a fast climbing stock to enter high, the juice is already gone: It brokeout and began the steep climb at a close above 95-96, a difficult level since September, as can be seen on the weekly chart.
In this pullback which is happening on diminishing volume, if you are in for the mid term at least, look for supports at 112-108.
At 114 now, there is reason to hold, and closing above 121 with volume should be looking at 125-130 first. If at 130 it sustains for a bit, the move will push it towards 140. This is for the mid term.
If and when it gets to 130, should the market turn weak, exit at once to re-enter later at a lower level. The strong breakout does suggest a range till 140 at least. It's ripped out of a long period of sideways consolidation where the ADX was staying low. I've written here before, when the ADX has remained low over a period of time, the breakout can be explosive.
S/l is 104.
Good luck and do keep posted.
When one chases a fast climbing stock to enter high, the juice is already gone: It brokeout and began the steep climb at a close above 95-96, a difficult level since September, as can be seen on the weekly chart.
In this pullback which is happening on diminishing volume, if you are in for the mid term at least, look for supports at 112-108.
At 114 now, there is reason to hold, and closing above 121 with volume should be looking at 125-130 first. If at 130 it sustains for a bit, the move will push it towards 140. This is for the mid term.
If and when it gets to 130, should the market turn weak, exit at once to re-enter later at a lower level. The strong breakout does suggest a range till 140 at least. It's ripped out of a long period of sideways consolidation where the ADX was staying low. I've written here before, when the ADX has remained low over a period of time, the breakout can be explosive.
S/l is 104.
Good luck and do keep posted.
Trail stop quite simply is a pre-determined level, which trails the price, below which ones exits a trade to preserve and to maximise profit.
It depends on how one wants to do it.
Whether one sets this level as a percentage below the current price, or a previous lower high or whatever, these are all basically arbitrary methods and one may apply whichever is found to be more appropriate depending on how high and for how long one has been in a trade.
It's also important to keep an eye on trend reversals or sharp pullbacks.
A trend reversal is a reversal, but a sharp pullback is not a reversal.
It depends on how one wants to do it.
Whether one sets this level as a percentage below the current price, or a previous lower high or whatever, these are all basically arbitrary methods and one may apply whichever is found to be more appropriate depending on how high and for how long one has been in a trade.
It's also important to keep an eye on trend reversals or sharp pullbacks.
A trend reversal is a reversal, but a sharp pullback is not a reversal.
moneylaundrer said:
another 1700 posts to go then perhaps i mite be in a stage to write all this...
On a serious note ....thanx for shairin ur knowledge...i have been followin one of ur recommendations,,shanti gears...i like the sector seems a long term bet..
Thanx again
cheers
You had written the above in response to my reply on indicators etc.
It's quite a natural process to get rigidly involved with hard core technicals as one begins to learn TA. This indicator, that oscillator, inside bar, 3 MA trading system, etc etc.
In the end when one begins to gain a degree of command on the subject, as in every other field, one realises the virtue of simplicity and minimal intervention.
Rather like the Zen master who said of his high attainment: I eat when hungry and sleep when sleepy.
My own attainment in this field is extremely modest, yet I have understood the redundancy of the dead-set passionlessness of being a top-heavy techie.
It's enough if one inculcates an instinctual and intuitive observation of price/volume action, and remembers a few lessons from the opening chapters of the books on TA.
It's quite as ordinary as that.
On to Shanti Gears, at 68 off now, once it closes above 70-71 with volume, it'll test 76-79 first, possibly next week if the market is stronger.
Yes, it's certainly a great buy for the mid to long term.
All the best.
Hi AMITBE,
man i dont knw what i have missed all these months..
Well first of all hello from me My name is Prathamesh...basically from mumbai now in hyd. for my fiance studies...
Well the site is owesome.. & You ROCK....Dude.. seems u are a hardcore fiancial guy...
Listen i have one thing to discuss....: Not related to stocks .. is this the rite thread...? IF not plz tell me...
My college will be starting SIP Summer Internship Programmes from 1st april this year for our batch... so i need some suggestions & tips from you can you help thanx
[email protected]
man i dont knw what i have missed all these months..
Well first of all hello from me My name is Prathamesh...basically from mumbai now in hyd. for my fiance studies...
Well the site is owesome.. & You ROCK....Dude.. seems u are a hardcore fiancial guy...
Listen i have one thing to discuss....: Not related to stocks .. is this the rite thread...? IF not plz tell me...
My college will be starting SIP Summer Internship Programmes from 1st april this year for our batch... so i need some suggestions & tips from you can you help thanx
[email protected]
game4trade said:
Hi Amitda,
What a pity that you remembered this one and I forgot
Many thanks for remembring this. I could'nt take position then and it has shown good move. In your opinion does it worth a entry now?
Regards and thanx once again.
Ashish.
What a pity that you remembered this one and I forgot
Many thanks for remembring this. I could'nt take position then and it has shown good move. In your opinion does it worth a entry now?
Regards and thanx once again.
Ashish.
Check the levels mentioned in the previous posts as supports at a pullback to find entry, though immediately it seems to be heading higher...and those levels are mentioned above too.
I'd stand aside for now and wait.
No matter...there'll always be good ones around.
Check an earlier post on this page for Shanti Gears for the coming week for now.
All the best Ashish.
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