Hi Tony,
Many thanks for the knowledge you have shared with us. After going through this discussion thread, I have started following P&F.
Hi Vishal,
Though question is asked to Tony, I will try to provide answer and if it is wrong, Tony will correct it. Yes you are right. The column will change from O to X and vice versa only if the price change by 3*column value in other direction.
Thanks,
Kautilya
Hi Vishal,
Please let me know if you are in possession of the book I have sent to so many over here on Point and Figure Charting by Tom Dorsey. If you do not have it, I will be pleased to send you a copy. It is important to understand the basics. I will surely help you in overcoming things you do not understand.
Jayshree made an extended quadruple bottom at 82 and then gave a SELL signal at 80. It is not a sell just because it is trading below the Bullish Support Line. Trading below this line means the stock is weak.
Resistance at 94-98-102.
This is an excellent question posed by Vishal. Most do not understand this.
Let us look at the chart. In the month of November the stock had touched 94. You can see an X at 94 above the alphabet B. When the stock price rises now to 94, it will make a Double Top at 94. So it becomes a resistance.
Next the stock had touched the price at 98 in the month of May. See X above the number 5 in the chart. So this will be an extended Double Top which again becomes a resistance zone.
Once again the stock had touched 102 in the month of April. So if the price of Jayshree rises to 102 it will make a Double Top. This will become a resistance once again.
Hope you have understood my explanation. Feel free to ask any query without hesitation till you understand the concept.
Tony
Hi Kautilya,
It is nice that a lot of hidden faces are making their appearance. Please let me know if you need any help on this subject.
You have given the correct answer to the query raised by Vishal. Thank you Kautilya for taking this step. This type of dialogue builds up confidence in one’s learning.
Tony
Thanks tony for the prompt reply
it means the column will change only if the price change by 3*column value in other direction , Please do correct if my understanding is not correct
Hi Irshad,
Wishing you a very happy and Prosperous New Year. Hope you make good profits from the learning of Point and Figure Charting.
ALOK IND. (8.50)
The stock is currently in the O column but on a BUY signal. It has resistance at 9.10, 9.70, 10.50. Support levels are at 8.30,8.10,7.30.
On the candle stick the stock is currently trading above all the EMA’s which is a good sign. The moment the stock crossed the 200 day EMA, it gave a break out. Watch out for levels of 8.15. This is the 200 day EMA. The stock can take support here once again and give a bounce upwards. If it breaks this level then get ready to SELL the stock. Currently the short term momentum supports the stock. RSI is at 62, CCI a high 288 and Momentum at 1.05. If the markets trade bullish, then this stock can rise once again. Now it is on a Pull Back. Good to enter near 8.15 levels.
Tony
Thanks Kautilya and tony
It will be really great if you can mail me soft copy on vishalkejriwal26@gmail.com .
Hi Tony,
Wishing you a happy new year 2014. Can you please look into the technicals of Polymed ? I m planning to increase my portfolio allocation significantly to this one at the current levels. You guidance will be appreciated.
Regards
Sandip
Also Tony can you let me know the price objectives for Gruh Finance ? I recently entered the stock around 235 levels from the trading perspective. . It would be really nice of you if you can mail me the soft copy of the book on fundamentals of point & finger charts.
Regards
Sandip
Hi Vishal & Sandip,
Have sent you the book. Enjoy reading and implement it
Tony
What’s your take on Powergrid at CMP? Hv been allotted some shares in FPO.
Sandip,
POLY MEDICURE (338)
The stock is in X column on Sell signal. It has resistance at 380 where it will make a Triple Top. This can be a strong area of resistance when it happens. If it breaks this barrier it can really shoot up. Support is at 310-285, the latter being again a Triple Bottom so, once again a strong support area. It is a strong stock trading above the Bullish Support Line.
On candle sticks, the stock has support at 337-331-320 and 274. Let us see if it holds these supports. RSI is 64 and trending up and so is Momentum at 26. Watch out for CCI which is 66 and a little flat. Once this touches 100 you will see action in this stock once again. Looks like it is building a strong base for a big up move. Hope this happens sooner than later.
Tony
Sandip,
This stock is not for trading, but an investment grade stock. The price objective is 425.
Tony
POWER GRID (99)
The stock is in X column on SELL signal. It has resistance at 104. Support is at 92-88. On the charts you can see that the stock has been making Lower Tops and Lower Bottoms since September 2012. This is not a good sign.
On candle sticks the stock has support at 98. Strong resistance at 103. RSI is 40 and trending down, CCI at 66 and Momentum at 1. The stock has hardly done much but has been trading in a narrow band of 88 and 104 for the past 5 months.
Tony
Hi Tony,
Got the book. Thanks for the book as well as your analysis. I do understand that Gruh is an investment grade stock. But I often trade in fundamentally sound stock to keep a track of their price movement so that I can latch on to it in a big way later on if it also behaves fundamentally as expected in addition to supportive technicals
Regards
Sandip
wishing each and everyone at valuepickr a happy and prosperous new year.
| Col 1 | Col 2 | Col 3 | Col 4 | Col 5 | Col 6 | Col 7 | Col 8 | Col 9 | Col 10 |
|---|---|---|---|---|---|---|---|---|---|
| SECTOR | BSE 100 |
AUTO | BANK | CON. DUR |
CAP GDS |
FMCG | PHARMA | METAL | I T |
| HIGH | 79 | 91 | 92 | 73 | 90 | 50 | 59 | 90 | 89 |
| LOW | 73 | 82 | 69 | 64 | 75 | 40 | 47 | 80 | 78 |
Above is the Bullish Percent showing sector wise details for the month of December 2013. Any reading above 70 is overbought and time to get vigilant, while anything below 30 is oversold and time to make a list of Buys.
Wishing a very Happy and Prosperous New Year to VP community.
Hi Tony,
Thanks for your reply. I acknowledge and appreciate your work here. True to your words, it is simple and lucid to understand.
Regards
Roberto
Tony
What are your views on recently volatile stocks - Accelya Kale and R S Software?
Thanks
Kunal
Tony,
What is your view on Symphony?
Regards
