Trading Strategies Using Technical Analysis

[scplindia]

Hi Raunak,

HDFC bank has run up quite a bit, and has started to correct, what do you think, is it a short candidate now, or more upside is possible.

Thanks
Prem Kumar

 

[SwingKing]

Hi Raunak,

HDFC bank has run up quite a bit, and has started to correct, what do you think, is it a short candidate now, or more upside is possible.

Thanks
Prem Kumar

Prem,

HDFC bank is in a wonderful uptrend. Why would you want to short it? Yes, you may have a 2-4% kind of consolidation, but timing the entry and exit will be difficult. Its a very strong stock. You should be looking to buy into it.

Don't fight the trend.

Tc

 

[VJAY]

Dear raunak sir,
Hope all stoploses for gspl&bajaj auto are eod basis....if close below..arround eod

 

[SwingKing]

Dear raunak sir,
Hope all stoploses for gspl&bajaj auto are eod basis....if close below..arround eod

Yes VJAY.

Always EOD.

Tc

 

[VJAY]

Very Good VJAY. Grasping the concept is important. As far as accuracy in identifying support and resistance is concerned, you will get that with practice.

After the markets are closed, I'll post my version of how and why LIC was taken.

Tc

Dear sir,
Just reminding you....take your time....its help to learn the exact setups & entries...charts will help

 

[SwingKing]

Dear sir,
Just reminding you....take your time....its help to learn the exact setups & entries...charts will help

VJAY,

I did not post the chart, but in reply to Alroyraj, I actually mentioned how I took this trade. Just go back to that post where i have mentioned which time frames I have used to enter LIC. Rest of the setup remains the same.

Tc

 

[VJAY]

Dear sir,
am not getting your entry point 1378...previous day all ready in daily BO..closed strong..next day means yesterday 1st horurly bar also closed strong above previous days high...so looking to enter if 10 trf break..so here @ 1382...is my understanding right ?or please throw some light to improve our thoughts....

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[SwingKing]

Dear sir,
am not getting your entry point 1378...previous day all ready in daily BO..closed strong..next day means yesterday 1st horurly bar also closed strong above previous days high...so looking to enter if 10 trf break..so here @ 1382...is my understanding right ?or please throw some light to improve our thoughts....

VJAY,

That's absolutely correct.

Don't try and perfect things in the range of 3-4Rs. Ideal entry point should have been 1382. But I entered early, because I got the feeling that it was about to happen. This will come to you when you spend some good amount of screen time and as you mature more as a trader. So don't bother worrying about 3-4Rs.

Keep practicing this and profits will flow.

Tc

 

[rrmhatre72]

This is how Colgate was executed. I have marked the Weekly,daily and hourly resistance on the chart. Once these were taken out, there was nothing more to do. Its as simple as that. Simple things work much better than complex things. Things to watch out here were,

1. Stock moved up in May June.
2. Consolidation (price and time wise) for the next 2 months.
3. Breakout with good volumes. Resistance penetrated.
4. Excellent risk to reward

Tc

Hi Raunak,

Too good logic.....

one basic question.....
How is hourly/daily/weekly resistance calculated in this case?

 

[Apurv7164]

Dear sir,
am not getting your entry point 1378...previous day all ready in daily BO..closed strong..next day means yesterday 1st horurly bar also closed strong above previous days high...so looking to enter if 10 trf break..so here @ 1382...is my understanding right ?or please throw some light to improve our thoughts....

what is 10 trf? and what u guys meant buy enter if 10 trf breaks?

I completely understood the point Raunakji mentioned that he took a call based on his experience that it will break. However, not able to understand what is 10 trf break?

Also How is hourly/daily/weekly resistance calculated in the case of colgate?