Trading Strategies Using Technical Analysis

[Apurv7164]

Hi Raunakji,
I want to do trading for shorter time frame base( 2 to 4 weeks).
I hold an account with India infoline and use Google finance for technical analysis(Pls suggest if this is not a good site or if you aware of any other better site )
But I am not sure how to use it they way you mentioned in your posts.
For example. When I use Candlestic what interval shall I choose for my purpose of trading(2 min,5 min, 30 min, Daily, weekly) and for how many days chat shall I draw ( 1 month , 3 months, 6 months etc).

I think I am asking some silly questions here but your input will make me learn somthing.

Thanks
Deep

Deep,

Ur first que about site for charts - this is upto u, if you r comfy with the site u r looking at then go ahead with it... others preferences shud not make diff to ur comfort level... however, if u wanna try something else, u can try icharts and indiabulls... i have been comfy with them in past...

regarding timeframe for ploting chart - dost, this depends on ur analysis... for example u wanna get into trade based on 30 min pattern, i wud suggest u to also have a look on 60 min and daily chart for broader picture... same with all the timeframes...

u can have charts displayed on ur screen for 3 months, 6 months, a year or so on based on how much bigger picture u wanna have look on it...

Good Luck with ur new venture,
Apurv

 

[Apurv7164]

Eicher Motors also showing discrepancy in momentum on 14 period daily RSI... still reversal is not locked and confirmed but I am keeping close eye on it... thoughts pleasE???

 

[MurAtt]

Yes Apurv .. anything above 1240 is a b/o. And the trend is strong ....

Weekly chart - Pattern for the lazy souls

 

[SwingKing]

Am replying within the Quote. My answers are highlighted in Bold.

Do read what SM and Apurv have advised.

1. I want to do trading for shorter time frame base( 2 to 4 weeks).

You are starting on the wrong track. Before running, you got to know how to walk correctly. To do that effectively, you need to start with weekly investing/trading. Once you master these, move to smaller time frame.

2. I hold an account with India infoline and use Google finance for technical analysis(Pls suggest if this is not a good site or if you aware of any other better site ). But I am not sure how to use it they way you mentioned in your posts. For example. When I use Candlestic what interval shall I choose for my purpose of trading(2 min,5 min, 30 min, Daily, weekly) and for how many days chat shall I draw ( 1 month , 3 months, 6 months etc).

If you are comfortable with websites, then continue to do it. However, to apply some indicators I mention, or the particular settings, you need to have a software like Amibroker/Metastock. You will have to get data externally. Visit the data feeds thread for details. Softwares offer in depth analysis and are often better than web based charting packages.

Tc

 

[kooldude1411]

Raunak Bhai, I need your views on MadrasCement. I am holding few @104

Regards
Amin

 

[MurAtt]

Keep tracking ... Weekly chart ... strong .. but nearing resistance area .. once we break 180 .. its a blast ....

 

[Apurv7164]

Keep tracking ... Weekly chart ... strong .. but nearing resistance area .. once we break 180 .. its a blast ....

This cud again be good candidate based my methods... however, need to check in details... will do so in the evening...

Thanks SM bhai for showing this and ur views on Eicher motors...

 

[Apurv7164]

Currently I am doing research on momentum discrepancy and found promising results lately. However, I need some help in extending my research to different timeframe than just daily and due to work load in my primary profession i m not able to back test and explore n number of charts for present movement and past patterns....

Kindly let PM me if anybody is interested in helping me out.... we wud have frequent discussion on the patterns to know each others thoughts...

If we have more than one person, I dont mind calling to india to one person and he can take other one in conference whenever we need to talk....

Pre-requisites -

1> thorough understanding of at least one momentum based indicator
2> understanding of math of the indicator
3> traded with that indicator minimum for 50 trades (winning or loosing don't make diff)

I surely do not want to sound rude or arrogant but i have set this preconditions coz i need certain level of deep knowledge and understanding. I am sorry guys for being lil conservative and restrictive here...

Raunakji and SM bhai - if we happen to form a group of couple of people and start researching further on it, can I count u as our mentor, leader and critic? ur experience wud be very helpful...

Bests,
Apurv

 

[twist]

Hi Raunakji,
I want to do trading for shorter time frame base( 2 to 4 weeks).
I hold an account with India infoline and use Google finance for technical analysis(Pls suggest if this is not a good site or if you aware of any other better site )
But I am not sure how to use it they way you mentioned in your posts.
For example. When I use Candlestic what interval shall I choose for my purpose of trading(2 min,5 min, 30 min, Daily, weekly) and for how many days chat shall I draw ( 1 month , 3 months, 6 months etc).

I think I am asking some silly questions here but your input will make me learn somthing.

Thanks
Deep

Hi. you can use ChartNexus software for EOD Analysis its free and you get 3-years eod data of nse/bse charts get updated daily in evening.
or you can Subscribe to websites like icharts/investbulls

 

[saivenkat]

Hi SM,

Aban,Relcap and BharShip are good picks.
You can add Hind Composites to the list.
What is striking about the stock is High BV of 894 and EPS of 864.
Still the price is 483.Of it is thinly traded share.

If EPS is 864, and Book value is 894 means, what impediments are there for the stock to remain in 483+ levels.

Kindly take not this a criticism, but actually i want to understand why the price of the scrip is lagging.

*Why the operators have untouched this stock?

* Is it not guaranteed that a shareholder of this stock will get 864 or 893 when company declares dividend. Then why is the mad rush in volumes absent here? Has it been un-noticed?

* The Company knows very well that the Eps and BV are higher than Mkt price? What could be its impact on them in the functioning of the company?

* If the company is to declare dividend at this point of time, which means they should pass on the ( rounded to 400)400 odd rupees to shareholders.

* Why is it the company not declared dividend? Will it be due to the reason, for lack of reserves (486 cr) or they shelving the funds for future expansion of the company? If so have anyone come across any such news or rumors?

Another sub question arising me, when looking at the profit and loss statement of this company (HINDCOMPOS) the sales turn over in 2009 is around 87 crores, and during 2010 its 100 crores. So an increase of 13 crores which is quite a normal growth.

But when looking at the head " OTHER INCOME" during 2009 it was around 4 crores and in 2010 it is 573 crores.

A Casual glance at the Profit and Loss statement, according to me, this income was not generated through any of the sales endeavor or operating profit of the firm. May be it could have been due to sale of any asset.. even that is confusing in Balance sheet. Then how could be this income generated?

As i am not a student of commerce, and more so i hate being so so i leave this analysis to experts like Raunak, columbus, Savant bhai, PT bhai. etal. Let me confine myself with this silly,but wary doubts.

Hope u pals will be too generous to excuse me if my interpretation is wrong, which is the case at most of the times.:rofl:

Saivenkat