iCharts Discussions

[as4manju]

Hi venu,

48-50 would be a good entry point for the stock and possible tgt could be 54-56-60 in short term.. u can use 45 as a SL

Regards
Manju

[as4manju]

Uni phos - The stock has made a base around 151 levels if 150 is broken the stock can quickly loose 5-7% possible tgt would be 143 atleast

on the upside the stock to watch for would be Orchid chem above 325 next resistance 333...

Would suggest every one to trade either long or short cautiously with low volulmes as v are near a curical point in mkt i would be watching todays close very closely decide wat has to be done ..

Regards
Manju

[ali522003]

manju bhai wat should be the stoploss for reliance.

[shivanigautam30]

Dear Manju Sir
Pls suggest ABG shipyard target/levels for today.

Having been reading your posts and its a great help in trading Sir.

Await ur response Sir.

Warm Rgds

[ali522003]

finally booked loss in cairn ,, now depending of reliance and siemens.

[as4manju]

Hi ali,

I was not on the system had gone out couldnt reply to you in time.. You reliance results today EOD and more over u should liten to my advice i kind of felt sad to see youo booking loss i dont know what price u ve booked but i ve adviced you thinking its my money u trading and asked you u keep a SL at 343 and u never kept that SL.. the first rule of trading should be SL is hit exit dont be emotional with the trade..

this my advice like ur elder bro and any one who is reading and following my thread..

I dont know since how long u ve been trading but i ve a long bad expieirence in this mkt so if u dont preserve ur capital u ve be left with nothing i m stressing it to every reader that TA will contribute 20-30% of the sucess in mkt rest is with ur money mgt and ur experience and ability to control ur greed and fear...

I will quote few example" 1) infy i said tgt is 3500 and around 3490 i said i m exiting even though it might go higher.. 2) gail my tgt above 515 was 530 even though it went beyond it.. 3)Lic hoousing fin below 1280 tgt was 1100 and i booked it even though it droped to 750.."
See the point is some where we need to put a full stop to our trades and its about how u control ur greed and fear else if i u keep thinking i ll still make more money or loss u wouldn exit ur trades... always learn to control ur greed and fear else u ll left with nothing else but fear of loosing..

i ve been adivsing for last one week to avoid levrage trade cause volatality can kill ur trades both way mkt open and close daily it doesnt mean we need to trade daily holding cash is also kind of a position... Just ask your self this question "can i stay from mkt with out thinking about it for an hour or min ?" if ur ans is "no" then its not a good sign..

I would suggest please read out about a person "jesse Livemore" his the father of all traders.. Knowing TA ll only help you in knowing what to do but rest is with u to execute it if ur emotions come in no matter how good the call is the chance of making money out of it is very less..

Few days back casper had also written about "icici bank" incedent its not that we are angry its that we feel sad to see people loosing money..

Please readers following my thread leave a comment on what u feel..

Regards
MAnju

[as4manju]

Hi shivanigautam30,

ABG is a high beta stock its high risk high return stock so trade catuiously..
currently the level to watch for on the down side is 360 below which it can tank by 30 rs and on the upside above 375 the levels are 390-400 and are also a big resisitance

regards
Manju

[ali522003]

[vishytns]

Manju,
U know even we(Myself and Casper) follow Ali's position closely. U have said what we were saying ALI. U were 100% correct in all sense. It applies to each and every trader.....including us.

Ali, Please do follow the SAFETY RULES (LIKE TRAFFIC RULES). Actually WE BEG YOU .

GREED CAN EAT ALL YOUR MONEY....
Your well wisher,
Vishy.

[chetan83]

[as4manju]

Hi ali,

i m here to stay and build relations so that others dont have to go thruough as what i ve been in past..i only share my experince cause i have made hefty losses in my trade's amounting to laks in each trade with out even telling my parents.. this is the price i paid to learn TA and excel in my trades now.. Always remember that SL should be in the system not in ur mind so that when ur out whether mkt is up or down u ll still be safe cause in mkt there are no second chance its ur hard earned money these are the small things but as they say "boond boond se banta sagar"..

If possible just google about Jesse Livermore and read about him it ll sure help you


Regards
Manju

[as4manju]

Hi chetan,

Any time u can disturb me i ll be more than happy to guide u the only thing is that i m not a full time trader so i dont sit in front of the terminal all the time so there might be some delay in my response thats it..

As far as the Sl issue i said in my previous post that SL should be in the system and not on ur mind else u get emotional with the trade thinking that i might bounce and u ll exit on the bounce and sadly that bounce never comes..

Regards
Manju

[casper]

hii manju

what u wrote to ali, is the burning truth, like u, me also made a huge loss and then came to know about T.A

and after seeing popular reaction to trading, now i am really convinced that peoples those who has not lost a lot, wont never understand what is risk management and why its important, u can say it my anger, can be my frustration also

we dont want to loose and we hope price will bounce back, and thats why we hold loosing position while cutting wining positions immediately. its rightly said by chetan

but chetan bhaiyya, i am sure now u know that after price breaking a support and going down, the very friendly support will turn to be ur strongest enemy resistance

and this resistance will choke any up move.

so better let it bounce back on its own and then above the said level, let us enter, but no body ever thinks like this, this is our agony

manju rightly said, that we are not angry, we are just sad, chetan bahaiyya, u know one thing? strategy varies with personality, spec sir's method suits him so he trades like that and analyse things in that way, manju found his own way which suits his style, i am too much aggressive in trading so my method is very aggressive one, and thts suits me too

so i want to say that before following calls try to understand why and how these calls are generated, this is the basic thing for a technical trader, if we fail here, we will end up just trading calls and learning nothing, so be in wining be in loosing,we wont ever have our own confidence

thats why i always shout" take paper trades. take paper trades"
if u think market is a casino then nothing can be said, but in reality its not gambling, its a profession, so we need to be professional

if we dont become professional trader (intra or positional whatever it is) and remain just gambler, then we will surely end up asking the same question every time " what is the sl of ur call manju/specsir/casper?"

[shivanigautam30]

Thanks Manju Ji.

I'm a very small-time trader but deeply interested in understanding TA before I venture into any trades.

Have been reading ur advice on SL/money management.

Thanks for all the help.

Have very small positions in a few stocks (no leveraging for me)....

SBI at 2700
ICICI at 1150
BGR Energy at 702
J&K Bank at 805
Cairn at 345
HDIL at 195
JP Assosc at 94


Can wait for these scrips to come in the green but it will be great to understand the charts of these and the method ur using Sir to arrive at Buy/Sell signals.

I hope it does not bother u but if convenient, pls suggest ways to read the charts using these stocks as example...

Warm Rgds!

[chetan83]