Trading Strategies Using Technical Analysis

[rrmhatre72]

Rahul,

Calculating Support and resistance does not vary with methods. Calculation is done the traditional way. I can give you some pointers which I use.

1. Look for WRB (wide range bars) in that particular time frame
2. Look at the volumes and the respective price action
3. Look around which levels we witness NRB (narrow range bars), inside bars.
4. Advanced users can also use market profile.
5. Look at the pivot high/low.

Support/Resistance which I draw on charts can be completely different from what someone else might draw. Hence, spotting support and resistance is very subjective and depends on the skill of the user.

Tc

Thanks Raunak,

This means we need to have some paid charting software(Ami, Meta etc..) .
At this moment i am just referring to google finance. I think this is very basic & I can not use above logic in that. Is my understanding correct

 

[SwingKing]

Prem,

Both Baja Auto and GSPL remain Buy's.

For GSPL, risk reward is still in favor. For Bajaj Auto, risk is a little more as SL is around 1430. But stock is extremely positive.

Tc

 

[SwingKing]

Thanks Raunak,

This means we need to have some paid charting software(Ami, Meta etc..) .
At this moment i am just referring to google finance. I think this is very basic & I can not use above logic in that. Is my understanding correct

Trading is a serious profession Rahul. It needs the right set of tools and resources.

Tc

 

[SwingKing]

Sintex is looking good. Stock has had a WRB today, statistically it should not do well tomorrow. But let's see. I would be looking to enter this stock either tomorrow or in days to come only in equities segment. Current SL is near 360, which is pretty far from the current price and hence this particular scenario vouches for a probe test to be carried out.

Tomorrow, I will be carrying out a probe test on the stock.

Tc

As expected, Sintex is not doing that well as of now. We need to see how it closes. This is one stock which must be bought.

Will update the level as and when it comes.

Tc

 

[MurAtt]

Weekly chart of TATACHEM is very strong and gaining strength every day. We are having a target of 440 and it seems it will surpass initial targets.

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@Raunakbhai / Apurv and others .. yr views pls ?

And thanks to D S Ramesh for pointing out the scrip

 

[SwingKing]

@Raunakbhai / Apurv and others .. yr views pls ?

And thanks to D S Ramesh for pointing out the scrip

Definitely a Buy above 412.

Tc

 

[VJAY]

There is always a reason to Enter a trade and always a reason to Exit a trade. If you don't have a reason to exit a trade, then you are just randomly speculating. Probably this is why you are losing money.

Your trades couple of months back have nothing to do with your trades today. Stop seeing your P/L statement and just focus on what you are seeing now. As humans we always fear the unknown. Ironically, markets pay only those who conquer their fears. Practice more and trust your instincts.

Tc

Bajajauto now 1476.....:clap: holds bajaj auto

 

[SwingKing]

Ashok Leyland is actually at very critical levels and is offering excellent risk to reward. One can go long with SL of 72. Not much to loose here.

For the stock to turn bullish again it needs to close above 75. Below 72, it will turn neutral and would demand patience for re - entry.

Tc

Ashok Leyland has been bought at 73.5 with a SL of 72 on EOD basis.

Risk to reward is totally in favor.

Instrument traded is Equities.

Tc

 

[bloodmoney]

Raunak bro,

Please shed some thoughts on position sizing like when, how much one should add to existing position to maximize the profit. I'm least successful in this and need to improve.

For instance, I've taken ASHOKLEY fut at 73.65 this morning. Now i shifted my SL at my entry price. But I'm unable to spot where to add positions to make most from it.

Pls help when you find time. Thanks


- Ram

 

[ksesha]

Hi Raunak,

Will you Please share your views on Jindal Saw?