July 22, 2014

Signals

APOLLO HOSPITAL - Stoploss 957

APOLLO HOSPITAL chart

Market outlook - index management at work?

NIFTY was up 84 points of which 62 points were contributed by 6 stocks. Of this, 40 points were contributed by RELIANCE, HDFC and TCS.

Inspite of all this, advance decline was negative so if these 6 stocks had closed flat, nifty would have been in the negative by 60 points.

DISHMAN PHARMA nice breakout on weekly charts

DISHMAN PHARMA has given a nice breakout on weekly charts.... SL 20%.

July 21, 2014

Buy signals

Trade long with min 10-20% SL and do not risk more than 1% of your capital on any trade... this risk management is the only way to ensure you are still in the market after multiple loss making trades.


Market outlook

Trend is up with support at 7450. Resistance is at 7800.

However today's trading range was extremely small and it could be argued that while bulls did not have the strength to pull markets higher, the bears so far did not make any attempt to start selling stocks.

July 20, 2014

Weekly charts - GOLD and SILVER

Both these are trending down for quite some time. However recent corrections are slower and taking more time to achieve a price effect.


July 19, 2014

How to identify a trend


We all keep hearing the "trend is your friend" or "follow the trend" etc but what is a trend?

A trend is the persistence of a stock to move in a particular direction (up or down) over extended periods of time. 

Since TA principles are independent of time, different trends can co-exist simultaneously over different time frames. For eg., it is common for weekly trend to up and daily trend to be down. Ditto for intraday charts.


July 18, 2014

Breakouts

AXIS BANK - Trend is bullish and will reverse on close below 1807.30
AXIS BANK chart

Weekend update

NIFTY maintains uptrend... closing near weekly high but well below last week's high.

The bullish case is last week's low is nicely protected while bearish case is markets are still trading last week's range so take your pick.

July 17, 2014

Some good charts

HAVELLS INDIA - Stoploss 1088.05

HAVELLS INDIA chart