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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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Post: #421  Posted: Mon Jan 23, 2012 11:06 am Post subject: jain irrigation |
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| Hi, How is JAIN IRRIGATION at 103? |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #422 Posted: Mon Jan 23, 2012 11:37 am Post subject: Re: jain irrigation |
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| ESNMURTY wrote: | | Hi, How is JAIN IRRIGATION at 103? |
The stock has support at 99...it has resistance in the range 105-106...even if it is broken, the next resistance is 110....That means, I'll avoid this...but if you want to buy it, you can go ahead and buy it....but always keep the stoploss....
Regards,
Sam |
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vishyvaranasi
Green Belt
Joined: 11 Jul 2011
Posts: 1159
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| Post: #423 Posted: Mon Jan 23, 2012 12:10 pm Post subject: psalm |
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| i had entered albk at 143. my entry was after a bo of 142. after seeing your thread i felt u had got the opportunity abt 10 /- before me. So wat was your analysis in it and now what can the tgt be i had fed at 153.90 today.made ahigh of 152.20 and now at 148.30 |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #424 Posted: Mon Jan 23, 2012 12:30 pm Post subject: Re: psalm |
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| vishyvaranasi wrote: | | i had entered albk at 143. my entry was after a bo of 142. after seeing your thread i felt u had got the opportunity abt 10 /- before me. So wat was your analysis in it and now what can the tgt be i had fed at 153.90 today.made ahigh of 152.20 and now at 148.30 |
I have a simple philosophy towards trading, vishy. I have explained that in a post a few days ago. There, I have mentioned that I'm a pivot trader and that I follow the trends most of the time. I was very bullish about the BankNifty when it was around 8300 levels. I have recommended it at that time itself and then after the breakout at 8660. I was telling at that time itself that one can look for a target of 9800. Look at what has happened today, it has gone up by exactly around 1000 points from there. Today's high is 9659. So, you can expect some profit booking and even some SHORTING.
By the way, I was talking about ALBK...when i have checked its chart a few days ago, it was already broken out at 126(which i got from my pivot studies) and was trading around 132 at that time. Since the target was 149, i have recommended that and even bought it myself. This stock might go upto 160 levels. But looks a bit risky now.
Regards,
Sam |
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vishyvaranasi
Green Belt
Joined: 11 Jul 2011
Posts: 1159
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| Post: #425 Posted: Mon Jan 23, 2012 1:50 pm Post subject: Re: psalm |
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Ya sam,
Thats wat i was thinking. I too follow technicals and after my analysis i enter into any stock. But the level u mentioned of albk 133 is quite attractive than my 142 level. Mt tgt is 155.Will hav to work on my sl on eod if my order of 153.90 is not active today. By the way can u just tell me basically which indicators do u use on your pivot trading.I am able to extract some calls upon my analysis but the entry point seems to be a bit higher. So can u help me in this regard. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #426 Posted: Mon Jan 23, 2012 1:59 pm Post subject: Re: Trading with PIVOTs |
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| psalm wrote: | Trading with Pivots
Identifying the trend is the most important factor in trading as well as investing. Its always better to go with the trend. The chances of a successful trade is higher if you are "with the trend". If you go against the trend of the overall market, then the chances are lesser. Once you have identified a trend, then you can search for opportunities. In order to identify the trend, you can use the technical indicators, moving averages, their crossovers etc. Some indicators will show you the over-bought or oversold conditions while some can give you insight into the money that is flowing into or going out of the system. Some of the of the indicators, that I use regularly are as follows:
1. MACD
2. ADX
3. SLOW STOCHASTICS
4. CCI
5. RSI
6. WILLIMS%R
I also make use of the Bollinger Bands and Parabolic SAR other than the moving averages. For the very short term, I use volume data and the Open Interest Data to select the stocks for analysis. Once I have found a few stocks which are tradeable according the main trend of the market, I'll look for levels to enter and exit. For that, I take use of the pivots, trend-lines etc. In technical terms, I'm a pivot trader. Even I consider basic fundamental things to come to a conclusion.
PIVOTS:
I consider this as a very powerful tool. I dont know why this tool is so powerful. May be because of the "HERD MENTALITY", but from my experience, I feel that this is a very powerful tool and my most important tool in my armoury. For example, I use pivots like Standard, Fibonacci, Gann, Camarilla, DeMarks, Woodies etc. Of all these pivots, I consider Fibonaacci as the most powerful. This is my opinion. There are a few Fibonacci Pivots tools which are used widely these days. They are as follows:
1. Fibonacci Retracements
2. Fibonacci Extensions
3. Fibonacci Expansions
4. Fibonacci Fans
6. Fibonacci Circles
7. Fibonacci Arcs
8. Fibonacci Ratios
9. Fibonacci Channels
10. Fibonacci Timelines
Out of these, I use the Fibonacci Retracements, Extensions, Fans and Arcs. All of these tools are for different purposes. For example, Fibonacci Retracements are used to estimate likely reversal points during an up- or down-trend. Fibonacci Arcs are used to forecast times of price ranging and support and resistance as well. The Fibonacci fan extends three or 4 lines wide and is primarily used to identify the next area of support and resistance as the price moves in time. Fibonacci Retracements are generally used to identify key support and resistance levels where the price will retrace, before moving on, either higher or lower.
The common thing about all these tools is that they all predicts the support and resistances or simply levels. Now you might be asking why I'm using all these Fibonacci tools if one is enough to find the levels. Even if you are using one of these things, you can find the support and resistance. Then why am I using all these 4 tools? Normally to check the support and resistance of a stock, I'll calculate the levels with all these tools first and then I'll note down these things. Once done with this, I'll check for the levels which are common to most of these methods. For example, suppose you are checking the levels for the Reliance stock. You have used the different methods and so, you will get different set of levels by each method. By cross checking these different sets, you can find that there are a few levels which are common in all the sets or most of the sets. For example, if the levels 800 or just around 800 is common in all the sets of pivots, then you can be sure that around 800 Reliance will experience resistance or support according to the current price.
NOTE: You can improve the method by adding more pivot studies like standard, camarilla, woodies, DeMarks, Gann and all. It will only improve the result. It takes a lot of time, thats why I'm not using it all the time. Another way to improve the accuracy is to use the Candlestick charts as well as the Line charts. You'll get different values with Candlesticks chart and the line charts of same stock. Also, you can select different periods as well. If you are looking for a longer target, you must you longer period. If you are looking for short term term targets or levels, you can use both longer period as well as shorter periods. Combining both LONGER period and SHORTER periods will improve the accuracy.
TIP: Adding fundamentals to your trading can improve the results. For example, suppose you got a resistance level of 1705 for SBI. You might buy it once it crosses this resistance level as you got it from the above mentioned analysis. But if you are aware that the EPS of SBI is 114.06 as of now, and that 15 times that EPS is 1711, you may not buy it below 1711 and you might wait for it to be crossed before buying it. Because, 1711 will be offer some resistance. You can find the proofs by checking the charts of many stocks. So, watch out for the PE multiples. It might help you.
IMPORTANT: If you want to go against the trend, then you should go for it only if the risk reward ratio is "VERY VERY attractive".
Regards,
Sam |
I have explained most of the indicators and tools i use for my analysis in this thread....I think it will help you, vishy....By the way, I use patterns as well....most of the common patterns...even there, you can apply the pivot levels for more accuracy....i mean for the entry and exit...
If you still have any confusion, you can get back to me....
Regards,
Sam |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #427 Posted: Mon Jan 23, 2012 3:00 pm Post subject: Maruti Short |
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Maruti Suzuki:
If anyone wants to have a SHORT position, they can sell Maruti in the range 1158-1172 with stoploss above 1176. One can expect 3-digit targets if it starts going down from here.
NOTE: Stoploss is a must. Please be careful
Regards,
Sam |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #428 Posted: Mon Jan 23, 2012 3:02 pm Post subject: Re: Maruti Short |
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| psalm wrote: | Maruti Suzuki:
If anyone wants to have a SHORT position, they can sell Maruti in the range 1158-1172 with stoploss above 1176. One can expect 3-digit targets if it starts going down from here.
NOTE: Stoploss is a must. Please be careful
Regards,
Sam |
All the levels mentioned here are spot prices....The stock is currently trading around 1165....the high made today is 1170. |
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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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| Post: #429 Posted: Mon Jan 23, 2012 3:18 pm Post subject: oil |
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| OIL INDIA looks good for upside 1171 now |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #430 Posted: Mon Jan 23, 2012 3:25 pm Post subject: Re: Maruti Short |
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| psalm wrote: | | psalm wrote: | Maruti Suzuki:
If anyone wants to have a SHORT position, they can sell Maruti in the range 1158-1172 with stoploss above 1176. One can expect 3-digit targets if it starts going down from here.
NOTE: Stoploss is a must. Please be careful
Regards,
Sam |
All the levels mentioned here are spot prices....The stock is currently trading around 1165....the high made today is 1170. |
Those who are holding the Maruti SHORT, can carry it with a stoploss above 1176 as mentioned earlier.
Regards,
Sam |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #431 Posted: Mon Jan 23, 2012 3:27 pm Post subject: Re: oil |
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| ESNMURTY wrote: | | OIL INDIA looks good for upside 1171 now |
I dont have a clear view abt that Murty.....but going LONG at this point of time is a bit risky...and that too carrying for tomorrow...
Regards,
Sam |
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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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| Post: #432 Posted: Mon Jan 23, 2012 3:32 pm Post subject: Re: oil |
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| psalm wrote: | | ESNMURTY wrote: | | OIL INDIA looks good for upside 1171 now |
I dont have a clear view abt that Murty.....but going LONG at this point of time is a bit risky...and that too carrying for tomorrow...
Regards,
Sam |
Thanks. Psalm I think the stock may climb up to 1250 levels..Today closed at 1178 on a strong note. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #433 Posted: Mon Jan 23, 2012 3:36 pm Post subject: Re: Voltas |
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| psalm wrote: | | psalm wrote: | Voltas:
One can sell Voltas if it comes around 95 levels again....the stoploss here should just above 96....target is 85 and then 75. |
Voltas has made a high of 94.9 a while earlier...if anyone has shorted it, keep a STRICT stoploss above 96.
Regards,
Sam |
VOLTAS closed around 91 for the day.....
Regards,
Sam |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #434 Posted: Mon Jan 23, 2012 3:42 pm Post subject: Re: oil |
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| ESNMURTY wrote: | | psalm wrote: | | ESNMURTY wrote: | | OIL INDIA looks good for upside 1171 now |
I dont have a clear view abt that Murty.....but going LONG at this point of time is a bit risky...and that too carrying for tomorrow...
Regards,
Sam |
Thanks. Psalm I think the stock may climb up to 1250 levels..Today closed at 1178 on a strong note. |
OK...  |
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ESNMURTY
White Belt
Joined: 31 Oct 2009
Posts: 380
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| Post: #435 Posted: Mon Jan 23, 2012 3:44 pm Post subject: Re: Voltas |
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| psalm wrote: | | psalm wrote: | | psalm wrote: | Voltas:
One can sell Voltas if it comes around 95 levels again....the stoploss here should just above 96....target is 85 and then 75. |
Voltas has made a high of 94.9 a while earlier...if anyone has shorted it, keep a STRICT stoploss above 96.
Regards,
Sam |
VOLTAS closed around 91 for the day.....
Regards,
Sam |
Yeah True.. Cound not surpass 95 level |
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