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Old 21-08-2013, 11:04 PM
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Default Third attempt at trading with volume spread analysis

My previous two attempts were disappointing and failures. This is my third attempt. I have read Gavin Holmes' book recently. This time, there wouldn't be any elaborate posts with marked charts. Just a couple of sentences to sum up. If anybody wants charts, please send a PM.

To reduce the hassles of stock selection, only LIX 15 stocks will be tracked.
Quote:
AXISBANK
BANKBARODA
CAIRN
HINDALCO
IDFC
JINDALSTEL
JPASSOCIAT
JSWSTEEL
MARUTI
MCDOWELL-N
RCOM
SBIN
TATAMOTORS
TATASTEEL
YESBANK


Last edited by bunny; 22-08-2013 at 09:51 PM.
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Old 21-08-2013, 11:07 PM
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Default

TATASTEEL is in downtrend. In the last few days, it has made some sudden up moves on high volumes. This is supply coming into already existing downtrend. Today's bar is also similar to hidden upthrust. Therefore outlook for this stock is much more bearish now.
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Old 21-08-2013, 11:08 PM
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Default

INDUSINDBK is also in downtrend and there is supply coming in today. So outlook is again more bearish for this stock.
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Old 22-08-2013, 09:59 PM
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Default

For reducing hassles of stock selection, only LIX-15 stocks will be tracked now
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Old 23-08-2013, 08:58 PM
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Default

BANKBARODA - Short trade setting up. Entry when the price starts falling below the low of today. If we were to enter instantly at the current price, we would face the risk of getting caught in an adverse situation where the stock could rally, probably like an explosion to 527 levels. So to protect ourselves, we will wait for the price to begin going down.

IDFC - Short trade setup. Entry as soon as price starts falling below today's low.

JPASSOCIAT is choppy on daily charts. Suggest not to take any direction.

JSWSTEEL - I am having difficulty reading this chart. Its seems like it is making a bottom. But too early to say anything on that. Better avoided in any direction. The trend is down on daily and weekly charts though, so being long is risky.

MARUTI - Short trade setup. Entry when the price starts falling below today's low price.

MCDOWELL-N has been an uptrend for most of the last year. As of now, I think the recent fall will have bullish implications for this stock. But if at all we were to enter a long trade, that would require this stock to rise above its July 2013 high. So, its a no long trade for as of now inspite of clear uptrend. We may have a short trade if it break down below recent lows.

SBIN - Short trade setup. Entry as soon as price falls below today's low.

TATASTEEL - I am bearish despite the recent fast rally.

YESBANK - Let this stock go to 285. Then we will see.
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