Trading Strategies Using Technical Analysis

[MurAtt]

Pappu pass ho gaya

RelMedia

Intraday Chart

Initial burst was with volumes (lets call it stage 1). Then the stock went into consolidation phase (stage 2) with very very low volumes. Eventually, the stock broke its range with increase in volumes (stage 3) around 12 Pm. Once, this happened, the stock did not look back. It continued to march on with strong volumes (stage 4).

EOD Chart

Now what do we have here? We have initial burst with volumes (stage 1) in June - July. Then stock goes into consolidation phase (stage 2) in August - September with very very low volumes. Eventually, today the stock broke out of a long range (stage 3) with exceptional volumes. Now, it should continue to march on. That is, stage 4 is pending.

The reason I posted both charts together was because, on smaller time frame we were seeing all stages playing out, but on the larger time frame, stage 4 was pending.

Do you now understand why I said that we would be continuing with Reliance Media? In the end, the reason why I squared of the futures position was because the stock rallied by 36%. Hence, I shifted my positions in Equities by taking 1/3rd position of my original futures position. Now, when the stock consolidates, I will begin to buy more. If it does not, we still have locked in profits worth 66% of our position. Hope you get this point.

Tc

Raunak .. lets see whether I pass this test of fire

 

[SwingKing]

Pappu pass ho gaya

SM bro,

Your sense of humor is amazing.

Tc

 

[SwingKing]

Hello friends,
I am new to this forum. Though I have been trading in stocks since 1980's, I could build a tool for technical analysis only recently. I would like to validate my tool with the valuable tips that are available on this thread and implement any suggestions made.

Thanks,

Thirumal:thumb:

Thirumal,

With all due respect, there are no tips given here.

All the participants of the thread work hard to analyze. And tips are never the outcome of analysis.

Tc

 

[Apurv7164]

Hello! Friends... how r u? I m heavily stuck with other stuffs in life and hence cud not participate in discussion for last couple of days... so thought of dropping line of how everybody doing...

Bests,
Apurv

 

[Apurv7164]

Hi! Raunakji, SMbhai and others...

How do u interpret this situation? If you look at the Omaxe 60 min chart, omaxe had filthy volume and lil price jump in last 60 min bar today (last 60 min bar is not actually 60 min bar.. it is 30 min bar)..

Bests,
Apurv

 

[SwingKing]

Hi! Raunakji, SMbhai and others...

How do u interpret this situation? If you look at the Omaxe 60 min chart, omaxe had filthy volume and lil price jump in last 60 min bar today (last 60 min bar is not actually 60 min bar.. it is 30 min bar)..

Bests,
Apurv

Apurv,

Straightaway your interpretation (if any) will take a beating due to data being inconsistent. Data consistency and validation is crucial to interpretation. You cannot have few bars which reflect 60 min trading and few bars which reflect 30 min trading if you want to interpret something meaningful.

Tc

 

[Apurv7164]

Sorry sirji, aap ka last lesson bhul gaya... m ready for punishment....

Okies.. now I am looking at 30 min chart and scenario or situation is pretty much similar. I wud say similar and not same coz of below mentioned reasons...

1> There is no Displacement on RSI on 60 min chart while there is displacement on RSI on 30 min chart which is positive to me but m still not confident about its working on 30 min chart

2> There is consolidation of some bars on 30 min which is of more bars than 60 min... I assume it is positive sign with last bar having volume spike...

Kindly give ur way of interpreting it...

Bests,
Apurv

 

[Apurv7164]

SM bro,

Your sense of humor is amazing.

Tc

I do agree with you.... this is something amazing on both part... Seems I missed big party given by Raunakji on Rel Media...

I must say that was awesome call on right time... Kudos...

 

[MurAtt]

Just to put on record ... I have not taken any positions as such in any calls given by Raunak .. or you Apurv or by anyone else. I may have analysed and it may have hit Cloud 7 BUT I feel very unconfortable taking positions on calls given by others ... unless I am dead sure or it has been on my radar too from beforehand ...

BUT YES ... the call rocked !!!!! :thumb:

 

[Apurv7164]

Rel Capital and Aban are both heading towards a 5% up move.

There are 2 things which are worth noting amidst what is going on in the market.

A) The euphoria which was missing earlier is beginning to come back now. Look at how stocks are just heading up. Everyday there are many stocks which are moving 5-7% with good volumes.
B) Leaders are stalling. Banking stocks and Auto stocks have now started to relatively under perform. On the other hand, High beta counters are now moving ferociously.

Just be alert guys. There is nothing to panic as of now. But keep your eyes open but do not question the markets.

Tc

What are high Beta counters???

Btw, my 2 cents on similar note...

Generally, I take signal of euphoria from my neighbors, relatives and family members... so far they were utterly scared to pump in fresh money... now they started buying something.. I still say something so they are still lil worried and have fear...

But this is how I take sign... when i heard they started buying, I took first note of euphoria building... now I am waiting for them to give me tips... when they will call me all the way from India to US just to give me tip... I wud be instantly closing my investment positions and will remain on swings with tight stop loss... lolz..