Wednesday, November 16, 2011

Intraday trading

Srinivas asks:
Which time frame graph is suitable for intraday as well as positional trades for index and specific stocks?

My Notes: For Intrday trading, 5 minute or 15 minute charts should be suitable. For positional trades, the end of day chart should be used.

Sudhin asks:

Is Tata Steel forming a H/S pattern with a probable target of 280?
Also where could I get the historical PE for individual stocks.

My Notes: I could not determine such a pattern. Tata Steel is at lts lows while a head and shoulder pattern is ideally made at an intermediate top. To me, it was easier to identify a trading range for tata Steel between 400 and 500. A breakdown below 400 will suggest pattern targets of 300.

amarjeet says:
please explain why u r bullish on hind uniliver .because now it makes domed house chart pattern.i am bearish on.

My Notes: HindUnilever is making life time highs. That's bullish for me. I turned bullish when it crossed 300 which took the price into unchartered area. It will certainly have corrections and dips, but the long term trend has just turned up, may, have more upside.

Sudhin on Inflation and Stock prices
My Notes: please read the comments by Sudhin on link between inflation and stock prices. I hope readers will be able to answer his question through their comments.

Rohit on Nifty breakdown:
Does that indicate that we will make new lows? if yes then will the decline be fast and furious?

My Notes:
Yes, my sense is that the Nifty will make new lows for the currernt bear market. Fast and Furious? Cannot say.

8 comments:

lakshman said...

sir,
for long term let us say 1 year,is it worth to buy Aurobindo pharma?

-Lakshman

daren248 said...

Sir, you really made me laugh when you today reminded on CNBC that a few days back you had told that SAIL will hit double digits. when in fact the other analyst differed. Great view. Another view i would appreciate is that at 11.30 when nifty was @ 5000 to buy it gave nearly 50+ points.
I really love the humble down to earth nature. God bless.

Rakesh Shethia said...

Bajaj auto has been in a narrow trading range of less than Rs.100 (from the low of 1690 to high of 1775)for more than a week now. 1690 is 38.2% retracement of its previous high to 1822 from the low of 1477. It closed 1.4% up on a down day. I am bullish with 2-3 trading session perspective for target of 1850 with 1690 as SL

Rakesh Shethia said...

Bank of India has been forming ascending triangle from the low of 292 on 26/09/2011. It is also one of the stronger scrip closing positive on down day. If it closes above 346, can gun for the target of 400 atleast.

Rakesh Shethia said...

Can you share your views/observations on wipro please. (also vis-a-vis IT index)

srinivas said...

Dear Sir,

VIP industries has fallen from 170 level to 120 level, it is in oversold zone, shall i buy this stock an upside target of 10%-15%?

moorthy.C said...

Dear sir, I Thank you for the all information you are giving in your blog.
Your notes, views and knowledge will be taken to the next level .

My doubt: I often confused with the intermediate trend,how to find and differentiate it with short and long term trend.

moorthy.C said...

Dear sir, I Thank you for the all information you are giving in your blog.
Your notes, views and knowledge will be taken to the next level .

My doubt: I often confused with the intermediate trend,how to find and differentiate it with short and long term trend.