Thanks for your message on the Kaveri thread. I didn’t login frequently due to time constraints… Here’s my email id: feltra@gmail.com, alt.id is mailrraman@yahoo.co.in. Either addr is ok for sending the PnF bible. Thanks a lot for this.
And yes, I have been following your writings on this thread… As always, I do have some questions, but let me first explore this subject - and then come back to you if I feel so…
This site is different not just for the quality of posts but also for the immediate and warm responses from people.
Kudos to all of you - Hope I can contribute something meaninfully in time…
Thanks & Best Regards,
-feltra
PS: I have dispensed with sub-titles like “Sir” and “ji”. People here call each other “naturally” so I hope this is ok. I can be called as “feltra” or Raman (R Raman is my name - they dont expand the R in SouthIndia - Chennai)…
The stock is nearly getting oversold because of RBI policies to curb volatility in the foreign exchange markets. These are temporary measures and I am sure the stock should come back to normal levels.
The stock has given a sell signal on P&F charts, which you rightly mentioned. It is right at the Bullish Support Line. Let us see if it turns from here. Or else the next support is at 390, 360-370 levels. Thereafter it has strong support at 340.
For the stock to move to the X column it has to once again touch 450 from current levels. Be patient and watch the markets and I am sure you will get a good entry point. If you wish to buy, then buy small quantities and as soon as selling pressure subsides then buy more when the stock moves into the X column.
Thanks a lot! Tony. I’ve already replied to your email with receiptacknowledgement.
Many Thanks!
Hashim
**
**
Hi Hashim,
A very warm welcome to Valuepickr. You are in safe hands at this blog. I have gained a lot from being here and wish to share my experience with one and all. Please go through each thread carefully and you will learn a lot from ideas mentioned here.
It is my pleasure to send you the book. Reading it and applying the principles learnt will bring you success. The best way to do is, to get a graph book and start maintaining charts yourself. I personally do the same. This has helped me a lot.
Please do write in often.
Tony
I am surprised at the overwhelming response I have got. Really did not know that I had such a following. I received requests from so many for the book. Asking for the book and reading and applying it is a different ball game. I will be happiest when each one of you read and apply the principles explained in the book and become successful as investors. There are no freebies. The more you work at it, the better you will get.
As for me I am always there to help and guide you wherever I can. That is my promise.That is a pledge.
The 5 day EMA has cut the 25 day EMA from top. The RSI and CCI are both in negative territory and the Momentum indicator too has fallen to -113. So all short term indicators are clearly indicating a further fall in the stock.
The stock today touched 1531 which is very close to the 50 day EMA of 1530. If it breaks this level then the next support is at 1329 which is the 200 day EMA. See chart below:
On the PnF charts, the stock is still in the X column and on a buy signal. This will change when the stock falls below 1500. The next support is only at 1260. So any level below 1330 will make the stock extremely weak. Let us see if it breaks the support of 1530 first. If it does then this will give a good entry level around 1330.
On the PnF charts, Hawkins has given a sell signal and now has support at 1800. This price is aligned to the Bullish Support Line marked in blue. Any fall below this, will make the stock extremely weak and will take it to 1650-1700 or even 1500. Here is the chart:
On the long term indicators too this stock looks very weak. It has broken both the 50 and 200 day EMA’s of 2190, 2191 decisively. One can see the fall after that on the charts below:
One can see very clearly all the short term indicators are negative. The 5 day EMA cut the 25 day EMA from above and the stock started having a free fall. The RSI is at 29 near the oversold territory, so is the CCI at -246 and Momentum at -148. All in all a chance to buy this stock at lower levels.
On the PnF charts the stock is currently in the O column, indicating more sellers than buyers. It will give a sell signal at 255. It is close to the Bullish Support Line in blue. If it breaks this level then it will become weak and the next support is at 235-40. The next lower level is at 205-15 range.
One thing in favour of the stock is that it has traded above the Bullish Support Line since August 2012 which is a good indicator. Lets see if it holds the support at 255-60 levels.
The stock is extremely weak now. If you see the chart below you will see that it is trading below its 50 day EMA of 470 and 200 day EMA 468. If you look at the short term indicators they all are in the negative. The RSI is 28, CCI at -225 and Momentum at -109. All these indicators show that the stock is oversold and one can expect a bounce back. However my advise to you is to accumulate in small quantities and wait for the correction to get over.
On the PnF charts the next support is at 330 and then at 285. Wait for the stock to turn into the X column. This will happen if the price crosses 380. Here is the chart:
You can see on the charts that the stock has been consistently making lower bottoms and lower tops. It is a high risk stock. Please conserve your capital. There are better opportunities in the market.
There are many among us who like to read a lot on Warren Buffett. Some may have read these articles earlier, while others who are new to investments or just taking baby steps, could do well, by reading Outlook Business Magazine Collectors Issue at this link.
The stock has given a sell signal and is at the support of 520 where it had made a double top earlier. If it breaks this level, then the next support is at 480 and then at 440.
On the candle stick charts one can see that all the short term indicators show that there is a correction taking place in the stock. Traders are booking profits, and the next support can be at the 25 day EMA at 511, and then at the 50 day EMA at 480. The readings match with the PnF charts too. So be patient and wait for a good entry point. However, please see how the over all market is performing. I expect the markets to be volatile with the RBI policy due on 30th July.
On 15th April, 2013 Bank Nifty closes at 11526. On this day the CCI indicator touches 100 from below. A few days later, the 5 day EMA cuts the 25 day EMA from below.
Come 20th May, 2013, Bank Nifty touches a high of 13414. On 22nd May, 2013, the CCI indicator touches 100 from the top. The 5 day EMA cuts the 25 day EMA from top. The trend has changed once again. Bank Nifty closes at 12404 on 3rd June, 2013.
Today the Bank Nifty touches 10331.
This analysis is to understand Trend and Momentum.
