Stocks To Keep A Close Eye On

[chaitanyagoa]

Chaitanya,

I reproduce Kartik/Bunny's post,

'High volume Upthrust are a sure indication of weakness, higher the Volume the stronger the indication. It may be even wise to get out of the stock if the Upthrust has ultra high volume.

Wider the spread more potent the Upthrust

Lower the closer the stronger the indication of weakness. Ideally it should close should be the Low. If the close is towards the middle it would mean than the SM was not successful in marking the price down. There was too much demand.

An ideal Upthrust will move into new territory. The High will be very much higher than the high of the previous bar. This means the SM was really successful in marking the price up and many traders get trapped into bad positions in the end of the day.

Upthrusts are effective when the trend has been in force for some time. Sometime you would find weak up thrusts in early trends.

Many times you will Upthrusts with low volume. I call them Pseudo Upthrusts. These are not effective as the Upthrust. But are still signs of weakness'

In my opinion,ICSA satisfies all the above.

ranga

That is an amazing explaination bro:clap:....... well Done

Cheers

 

[chaitanyagoa]

Guys,
I am just checking the daily charts of UNITECH. I have observed that UNITECH mostly moves with the indices, in not in the same proportion, atleast in the same direction.

From the VSA perspective, seeing its action in the last 2-3 sessions, it looks bullish. So I am drawing a conclusion that perhaps indices are also geared for a bullish action.

VSA:

If you see the action on last few candles, except the last one(today's), it crossing a strong resistance line with great volumes and very wide spreads. This is an typical action of a bullish operator who wants to persuade the locked-in traders to not sell. What we are going through now is probably a test of supply.

Only time will tell how good this analysis holds. Meanwhile, I am long on 1 lot minifty entered around 4636.

@ Ranga
I went through ICSA charts, there is some temporary weakness as reasoned by Chaitanya, but overall, it seems bullish.

Hello Bunny,

I am almost done with the VSA book. Can u suggest me some books for drawing the trendlines. I do understand about the trendlines from Saint's PDF But, i have no clue of how to draw them

 

[tghai]

why europe tanked ?

http: // www . nytimes . com /2009/09/02/ business/ global/ 02euro.html

Euro-Zone Unemployment Hit 10-Year High in July

PARIS — Unemployment in the 16 countries that use the euro rose in July to the highest in more than 10 years, showing that despite signs of recovery, the European economy continues to struggle. ............

 

[bunny]

Hello Bunny,

I am almost done with the VSA book. Can u suggest me some books for drawing the trendlines. I do understand about the trendlines from Saint's PDF But, i have no clue of how to draw them

Just draw a line connecting two or more pivot high, such that there are low intervening between them. To confirm if a trendline has been broken or not, observe the volume and spreads at points just before the breach has occured. Typically, a break will be followed by a test of supply.

See this chart for illustration.

 

[SavantGarde]

Hi Chait,

First Thing, Writing & Asking For Clarification...You Entered A Day Late...
Enygma Has Given Detailed Explanation Of Trading....This You Need To Do A Bit Especially.....To Gather As Much Profit....Till It Reaches The Target Or Not....It Is Not Like Buying A Stock & Waiting For Target....

You Will Need To Develop Some Expertise In Reading The Market Direction...If You Go Through 'Nifty Intraday Pivot Point' Thread It May Help You With Resistances & Supports For The Day.

Communicating & Trying To Do Something Through Posting In This Thread Is Perhaps Too Late....

Happy & Safer Trading

SavantGarde

Teek hai sirjiii,

I have bought a call at 4700 @171 at your advice. After that, usko dekha bhi nahin!!!! Will act on your advice again:thumb:

ThankU jiii

 

[SavantGarde]

Hi Rangarajan,

It Was Suggested To Izzner Because I Know His Capital Base,

Fresh Trigger Happened On 19th When It Was Around 171.30...You Will Find It In The Stock Future Thread....

Anyways.....ICSA & SINTEX Has Been Showing Good Strength Even On Down Days.....I Would Suggest Observe Their Movement For A Few Days Before You Start Trading Them Intraday Or Positional.

Will Try & Post The Chart For Both Later In The Night.

Happy & Safer Trading

SavantGarde

Savant,

I just now saw yr posting on ICSA. Guru, ever

There was climax & anti climax today. What is yr explicit recommendation.

ranga

 

[rangarajan]

Maafi sirjee,

Bhatak gaye the idhar udhar, upar se Ramazan me time kum
for all - family, work & market
Ab to subscribe kar liya aapke chaaro threads ko, bas ab $$ bandobast karna hai for futures trading in full swing

Lekin dyan rakna Fear & Greed

ranga

 

[rangarajan]

F & O

Futures are not for those who r not having patience,nerves & capital. I am in this.
I find savant is bombarded with 4700CE

ranga

 

[rangarajan]

I hv taken 4700CE @ 124/- for 2morrow!!!

A bit riskier taking into account overnite positions BUT Nifty moved down with net minus OI means, no fresh selling rather long booking happened.

Now fresh long or fresh short awaited. Also some small bounce may happen toward EOD as profit bookers (not all - tht is why small bounce) might re-enter a lower levels (from their selling point).

I may exit my CE if I feel fit ---

SM,

Lakta hy,achanak app ko Dollar milgaye Aur future me goos gaye.

Ramzan ki mehrupani.

All the best,

ranga

 

[spiritunit]

US Markets turned to red, seems it will finish volatile.. I think its better to intraday as per market conditions, taking positions next day, giving big gapup, particularly in options.