Some Good Steals...
- Thread starter AMITBE
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Hi rv...we're learning TA, yes?
I've seen some posts by you which show you're getting along nicely with your study.
Perhaps you should answer and help Joshi accordingly?
That may start a discussion on Polaris...but your reply above is not likely to.
There's another one by you on a query on Lloyds Elec.
What do you think?
I've seen some posts by you which show you're getting along nicely with your study.
Perhaps you should answer and help Joshi accordingly?
That may start a discussion on Polaris...but your reply above is not likely to.
There's another one by you on a query on Lloyds Elec.
What do you think?
Vivimed Labs was called mid February. The chart can be seen here: http://www.traderji.com/attachments/equities/1006-some-good-steals-vivimed-labs.jpg?d=1139762035
The counter was slapped a 5% circuit the following day and it at once fell away. The circuit is still there and it's been hitting the upper level lately in a breakout.
I'm aware at least one member has position, and any others, at cmp 248, keep stops at 217 or 210.
All the best.
The counter was slapped a 5% circuit the following day and it at once fell away. The circuit is still there and it's been hitting the upper level lately in a breakout.
I'm aware at least one member has position, and any others, at cmp 248, keep stops at 217 or 210.
All the best.
Amitda,
Ek tum ho...kitne acche..
Ek tum ho...Kitne sachche...
Ek tum ho...kitne bhole...
Ek tum ho...kitne nirale...
Ek tum ho...kitne mahaan..
Ek tum ho...kitne nekdil.....
Ek tum ho...kitne acche..
Ek tum ho...Kitne sachche...
Aur ek hum hai...jhooot pe jhoot bole jaa rahe hai...
cheers !!!!!
ganeshhity
Ek tum ho...kitne acche..
Ek tum ho...Kitne sachche...
Ek tum ho...kitne bhole...
Ek tum ho...kitne nirale...
Ek tum ho...kitne mahaan..
Ek tum ho...kitne nekdil.....
Ek tum ho...kitne acche..
Ek tum ho...Kitne sachche...
Aur ek hum hai...jhooot pe jhoot bole jaa rahe hai...
cheers !!!!!
ganeshhity
Ganesh!
Aur ek tum ho...kitne hansmukh!
Thanks for all the humour....a tad roguish at time....but I love it!
There was no call to exit Elder. There's more to come.
No...Indiabulls is high now...regardless of what happens with the issues pulling it down, the risk is greater at these levels. It's come up a long way.
Wait for a pullback.
The market is yet again up there, and it may yet again fall back. A clear direction is not coming up.
Good luck.
Aur ek tum ho...kitne hansmukh!
Thanks for all the humour....a tad roguish at time....but I love it!
There was no call to exit Elder. There's more to come.
No...Indiabulls is high now...regardless of what happens with the issues pulling it down, the risk is greater at these levels. It's come up a long way.
Wait for a pullback.
The market is yet again up there, and it may yet again fall back. A clear direction is not coming up.
Good luck.
Hi Joshi...trading the markets, it's important for you to acquire some rudimentary understanding of TA.
I'm not saying you need to spend long hours over it, but to have a couple of good books lying around may be a good idea. Pick them up as time permits, and try and familiarise yourself with at least some basic concepts, to begin with, to understand why one could consider a stock for entry, and why one should keep far away from it.
There are plenty of books around, and you could check the relevant section of the forum.
Im not going to get into it here and now in any detail, but a basic and fundamental first assessment is by simply eyeballing the daily price chart, which you can access at the BSE website.
Historic price action itself will tell you a great deal.
Another fundamental requirement for considering a trade in a stock is the trend, at least short to mid term.
Again, just observing the basic price chart would tell you all that.
Further, Simple Moving Averages would dismiss any doubt.
SMAs are the basic nuts and bolts of more advanced indicators too, so there importance cannot be ignored.
An SMA line is computed by the average price of a stock over a specified number of days, weeks or months. We are dealing with daily price here.
Mostly SMAs are created using the closing price. As an example, a 10 day simple moving average is calculated by adding the closing prices for the last 10 days and dividing the total by 10.
As the data for the new day comes in, its added to the computation while dropping the data for the first day, and so on. At any given time the 10 day SMA is being computed for the current 10 days by repeatedly dropping the first of the 10 days data as the data for the new day arrives.
The ticks thus created represent the current 10 day SMA. The ticks are then joined to form a smooth line on the price chart that moves along the main price line. When you see the actual price for the current day, you also see the 10 day average price for the current day.
Now what this exercise has done is smoothen out the price action for the 10 days by eliminating random volatility in daily price action, or noise.
So now we can calculate 10 or 20 or 50 or 200 day average price and plot all these, overlaid on the daily price chart. Of course its the software which is doing this, you just tell it the periods you wish to see the average prices forweather 10 days or 20 or whatever.
Normally a stocks price should be at least above its 20, 50 and 200 SMA to show strength in the up trend.
As traders, we buy strength, and not go bottom fishing on falling stocks.
Polaris is a good example of an utterly bearish stock.
Look at the long term daily chartterrible to say the least and a good candidate for shorting rather than buying.
In the right column certain levels are marked in blue, red, brown and black.
Blue=20 SMA=115.78
Red=50 SMA=114.65
Brown=200 SMA=126.79
Black=current price=108.35
Current price is well below all the important SMAs.
So we dont go near it. If in, we must exit.
All this is brief, but this is the basic minimum youll have to do in order to consider entry.
As for BOI, while the chart is none too pleasing either, and the sector itself is under performing, the fundamentals are strong.
For your entry, keep stops at 114.
All the best, Joshi.
I'm not saying you need to spend long hours over it, but to have a couple of good books lying around may be a good idea. Pick them up as time permits, and try and familiarise yourself with at least some basic concepts, to begin with, to understand why one could consider a stock for entry, and why one should keep far away from it.
There are plenty of books around, and you could check the relevant section of the forum.
Im not going to get into it here and now in any detail, but a basic and fundamental first assessment is by simply eyeballing the daily price chart, which you can access at the BSE website.
Historic price action itself will tell you a great deal.
Another fundamental requirement for considering a trade in a stock is the trend, at least short to mid term.
Again, just observing the basic price chart would tell you all that.
Further, Simple Moving Averages would dismiss any doubt.
SMAs are the basic nuts and bolts of more advanced indicators too, so there importance cannot be ignored.
An SMA line is computed by the average price of a stock over a specified number of days, weeks or months. We are dealing with daily price here.
Mostly SMAs are created using the closing price. As an example, a 10 day simple moving average is calculated by adding the closing prices for the last 10 days and dividing the total by 10.
As the data for the new day comes in, its added to the computation while dropping the data for the first day, and so on. At any given time the 10 day SMA is being computed for the current 10 days by repeatedly dropping the first of the 10 days data as the data for the new day arrives.
The ticks thus created represent the current 10 day SMA. The ticks are then joined to form a smooth line on the price chart that moves along the main price line. When you see the actual price for the current day, you also see the 10 day average price for the current day.
Now what this exercise has done is smoothen out the price action for the 10 days by eliminating random volatility in daily price action, or noise.
So now we can calculate 10 or 20 or 50 or 200 day average price and plot all these, overlaid on the daily price chart. Of course its the software which is doing this, you just tell it the periods you wish to see the average prices forweather 10 days or 20 or whatever.
Normally a stocks price should be at least above its 20, 50 and 200 SMA to show strength in the up trend.
As traders, we buy strength, and not go bottom fishing on falling stocks.
Polaris is a good example of an utterly bearish stock.
Look at the long term daily chartterrible to say the least and a good candidate for shorting rather than buying.
In the right column certain levels are marked in blue, red, brown and black.
Blue=20 SMA=115.78
Red=50 SMA=114.65
Brown=200 SMA=126.79
Black=current price=108.35
Current price is well below all the important SMAs.
So we dont go near it. If in, we must exit.
All this is brief, but this is the basic minimum youll have to do in order to consider entry.
As for BOI, while the chart is none too pleasing either, and the sector itself is under performing, the fundamentals are strong.
For your entry, keep stops at 114.
All the best, Joshi.
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