Inorder Of Preference Is UNITECH, ISPAT, MINDTREE & BRIGADE...Leave BVCL Because It Is A Cement Stock...& Monsoon Fears Are Affecting The Moves In Cement Stocks
Actually we (peoples like mine) look so CARELESSLY to any candlestick n volume chart ... Always trying to find something SHOCKINGLY BIG and/or SHOCKINGLY TINY from a chart ... and never going to fine details which actually tells the whole metabolism of all action
To become like you, I/we need to develop your eye of looking at things!
I was also things the same way in the first 3 months thinking that I was doing some "Technical Analysis". It took the budget day fall(the few losing days after it) to teach me a lesson.
Today Or Yesterday Was Ideal For A Situation....What One Does Is BUYs The Next Month Future First & When The Upside Happens During The Day Or Next Day....Squares Off The Current Month Future....
Let's For Illustration Take RNRL As Todays Move..
Previuos Close
AUG Was 78.55 Sept. Was 78.95
Todays LOW For Both Are 78 & 79 Respectively
Current Prices Are 80.50 & 80.70 Respectively
Therefore One Would Have Bought The September First Thing In The Morning & Perhaps Closed The Aug Series...Now Or Later Depending On The Market.
Same Can Be Done Over A Few Days If A Single Day Doesn't Present Such An Opportunity.
I was also things the same way in the first 3 months thinking that I was doing some "Technical Analysis". It took the budget day fall(the few losing days after it) to teach me a lesson.
I guess, even you are not very old in this interesting field. So how exactly did you went for learning these things. One, i guess is TJ threads and apart from that? I mean things like getting to know RSI, MACD (7,12) combinations etc. I try to look at charts and figure out things but as Priyan said, some more accurate analysis is needed. You started with any books or what? Recently I got hold of John Murphy's book (tech analysis of fin. market) in PDF format. I hope, that gives me a better perspective.
Today Or Yesterday Was Ideal For A Situation....What One Does Is BUYs The Next Month Future First & When The Upside Happens During The Day Or Next Day....Squares Off The Current Month Future....
Let's For Illustration Take RNRL As Todays Move..
Previuos Close
AUG Was 78.55 Sept. Was 78.95
Todays LOW For Both Are 78 & 79 Respectively
Current Prices Are 80.50 & 80.70 Respectively
Therefore One Would Have Bought The September First Thing In The Morning & Perhaps Closed The Aug Series...Now Or Later Depending On The Market.
Same Can Be Done Over A Few Days If A Single Day Doesn't Present Such An Opportunity.
Sorry to bother you again. Just wanted to check should I do it today or span it out over the next two or three days....basically what i need to know is that are there any chances of downtrend if any ?? (only an opinion...i know you are not a clairvoyant)