Stocks To Keep A Close Eye On
- Thread starter SavantGarde
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Hi Savant Sir,
I sold every thing today. The BNF lot which I bought at 7200 around 12 PM , I put a stop loss of 7220 that got hit when BNF dipped again in the afternoon.
No Stock futures trade today. So I was saved on that count. I have my capital intact and made a small profit today and I have exited all my longs.
I would re-neter the longs when the down trend is complete and uptrend starts. Sir I would need your advise and help to time my reentry.
I would want to go long on stock futures then and atleast try to recover some of the earlier losses then.
Regards
Anil Bezawada
I sold every thing today. The BNF lot which I bought at 7200 around 12 PM , I put a stop loss of 7220 that got hit when BNF dipped again in the afternoon.
No Stock futures trade today. So I was saved on that count. I have my capital intact and made a small profit today and I have exited all my longs.
I would re-neter the longs when the down trend is complete and uptrend starts. Sir I would need your advise and help to time my reentry.
I would want to go long on stock futures then and atleast try to recover some of the earlier losses then.
Regards
Anil Bezawada
This perhaps is a lesson for you not to buy on margin. If you go through this thread, Savant had warned against it multiple times. Anyways, now the deed is done ...
Depending on your broker, I guess you will need to square off the position by Friday, is that right?
With the monsoon fears around, you will continue to see such volatility in our markets. My suggestion would be that you keep a stop loss of around 3-4 Rs below today's low in both of these stocks and exit the positions with a loss if that gets hit.
Please do not continue holding on to a losing margin position, if you do not the ability to hold it for more than 3 days.
Regards,
Enygma.
Depending on your broker, I guess you will need to square off the position by Friday, is that right?
With the monsoon fears around, you will continue to see such volatility in our markets. My suggestion would be that you keep a stop loss of around 3-4 Rs below today's low in both of these stocks and exit the positions with a loss if that gets hit.
Please do not continue holding on to a losing margin position, if you do not the ability to hold it for more than 3 days.
Regards,
Enygma.
For a starter, I would recommend "How to Make Money with Charts" - http://www.visionbooksindia.com/details.asp?isbn=8170947219
Its co-authored with Ashwani Gujral - You might be knowing him since he regularly appears on CNBC TV-18 as a commentator.
There are a lot of threads on this forum, lot of web pages, but I would not recommend them straight away to a starter.
Some people might point you towards "Saint's Teach A Man to Fish". I would not recommend it to a starter. Not because it ain't good, but because it too concentrated for a newbie to digest. Its easy to get confuses in starting stages. Once you get the basic working knowledge, you can use Saint's Teach A Man to Fish to build upon it.
I myself started with Ashwani Gujral's book and then expanded from numerous resources on the web. I recommend that you too start in a very organized way instead of starting in a haphazard way by reading a few web pages here-and-there!
Its co-authored with Ashwani Gujral - You might be knowing him since he regularly appears on CNBC TV-18 as a commentator.
There are a lot of threads on this forum, lot of web pages, but I would not recommend them straight away to a starter.
Some people might point you towards "Saint's Teach A Man to Fish". I would not recommend it to a starter. Not because it ain't good, but because it too concentrated for a newbie to digest. Its easy to get confuses in starting stages. Once you get the basic working knowledge, you can use Saint's Teach A Man to Fish to build upon it.
I myself started with Ashwani Gujral's book and then expanded from numerous resources on the web. I recommend that you too start in a very organized way instead of starting in a haphazard way by reading a few web pages here-and-there!
Amit,
Do not trade the news. Look at the price action tomorrow ..
In the day charts, it has made a long tail that has pierced the upper BB. It has attempted a breakout on the upside because the BB's had constricted the past few days. Be careful of a red candle appearing tomorrow.
I would wait for it to close above 295 since it has been struggling to get past 290 on a closing level.
Regards,
Enygma.
Do not trade the news. Look at the price action tomorrow ..
In the day charts, it has made a long tail that has pierced the upper BB. It has attempted a breakout on the upside because the BB's had constricted the past few days. Be careful of a red candle appearing tomorrow.
I would wait for it to close above 295 since it has been struggling to get past 290 on a closing level.
Regards,
Enygma.
Does anyone else see a "trap" on DLF charts?
On 3, 4 and 5 Aug, the price as well as the volume went down. Normally, this would lead to an upmove on 6th Aug. But this did not happen. Instead it went down on higher volume. Now again, its giving the same indication of "reduced selling pressure". What will happen this time?
Was it really a trap? Or are there multiple smart money groups in queue to distribute their stock?
Or is it that we are seeing accumulation phase of the next mark up? Not likely I guess
On 3, 4 and 5 Aug, the price as well as the volume went down. Normally, this would lead to an upmove on 6th Aug. But this did not happen. Instead it went down on higher volume. Now again, its giving the same indication of "reduced selling pressure". What will happen this time?
Was it really a trap? Or are there multiple smart money groups in queue to distribute their stock?
Or is it that we are seeing accumulation phase of the next mark up? Not likely I guess
Hi Bunny,
i think SBI is in for a further slip, most indicators are coming off their highs. 1630 and 1540 on the donwside depending upon the strength of the nifty's slump??
dlf seems to be in the midst of a down slide though the " green shoots of recovery" are almost visible. RSI/ MFI seem to be levelling out, and cci is giving some hint of a turn.
regards
PS novice at work
i think SBI is in for a further slip, most indicators are coming off their highs. 1630 and 1540 on the donwside depending upon the strength of the nifty's slump??
dlf seems to be in the midst of a down slide though the " green shoots of recovery" are almost visible. RSI/ MFI seem to be levelling out, and cci is giving some hint of a turn.
regards
PS novice at work
Hi Bunny,
Thanks for the insight of knowledge base expansion. But do these books really help ? Too many cooks spoil the broth. Trading is all about a technique that suits you the best and it is to keep it simple. BB (Trading Wth Candlesticks) , SMA crossovers and Stochs. are quite enough; earlier explained by Savant do suffice the cause. Following too many patterns can hamper trading as nothing matters except *PRICE* and the insinct to go for the kill at the right moment to extract your profit on Long Or Short. It can come only with following the chart patterns on regular basis.
For example:- The market has ben falling for last three days. How much have you made on going short despite of the falling charts ? I have lost and could not supress the positive sentiments inside myself to go short.
What I have seen within a short span of trading that one needs to build an insinct to put the theories to practice. Guys like Gujral & co have plethora of cash available with them and never loose money in the market. They would always like to shake off the small investors like us and pickup gold nudgets. Watch them speak on channels for Disclosures .... Normally they do not hold any positions on the Buys reccomended.... So! They do not want to disclose their real holdings for the fear that you will jump into their band waggon.
All the teching are available in this forum and one needs to dig on real deep to get the nector.It needs hard work and without it, spoon feeding is asking a man never to growup. There is no need to anywhere else. If you are interested in books here it is.................
I do not mean to sound harsh but maintain that this forum has all that a trader needs.:thumb:
Wishes,
Lancer.
Thanks for the insight of knowledge base expansion. But do these books really help ? Too many cooks spoil the broth. Trading is all about a technique that suits you the best and it is to keep it simple. BB (Trading Wth Candlesticks) , SMA crossovers and Stochs. are quite enough; earlier explained by Savant do suffice the cause. Following too many patterns can hamper trading as nothing matters except *PRICE* and the insinct to go for the kill at the right moment to extract your profit on Long Or Short. It can come only with following the chart patterns on regular basis.
For example:- The market has ben falling for last three days. How much have you made on going short despite of the falling charts ? I have lost and could not supress the positive sentiments inside myself to go short.
What I have seen within a short span of trading that one needs to build an insinct to put the theories to practice. Guys like Gujral & co have plethora of cash available with them and never loose money in the market. They would always like to shake off the small investors like us and pickup gold nudgets. Watch them speak on channels for Disclosures .... Normally they do not hold any positions on the Buys reccomended.... So! They do not want to disclose their real holdings for the fear that you will jump into their band waggon.
All the teching are available in this forum and one needs to dig on real deep to get the nector.
It needs hard work and without it, spoon feeding is asking a man never to growup. There is no need to anywhere else. If you are interested in books here it is.................I do not mean to sound harsh but maintain that this forum has all that a trader needs.:thumb:
Wishes,
Lancer.
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