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Hello Tony,
Can you please share the book on candlesticks? pinkuh at yahoo dot com.
Thanks for sharing your knowledge. I have gone through the first three pages of these forum for at least a few times to understand P&F chart. I have also read the book on P&F that you have shared. Thanks again. The discussions and questions raised by some of the VPers are very good too.
-Parvez
I receive a lot of queries as to when one should initiate a BUY in a stock based on Technical Analysis. The best way to address this was by making a CHECK LIST. I have attached a check list of 10 points which one has to follow before initiating a BUY in a stock.
Please download the attachment given below.
Tony
BUYING-STOCKS.docx (16 KB)
Ravi,
The check list given below in the thread should address your confusion. If you still need my help, feel free to write to me again.
Tony
Hi Tony
I have got same doubt as Rakesh. For example, I’m looking at Indian Hotels chart.
The RSI and CCI indicate high levels and are over bought which suggests not to go long but at the same time, it has broken out with huge volumes for straight 2 days after a long consolidation which suggests to go long.
So, what factors do we need to consider to go long or short on this particular trade?
Thanks again.
[quote="prasadmaddali20, post:899, topic:996262942"]
> Ajanta has broken out .... Can this one reach 1250-1300 levels by Q4 ... Fundamentally also at 1300 it will trade at 22 times FY14
[/quote]
Above is the analysis of the Price and CCI. See how the trend keeps changing with each up move of CCI.
Tony
Sandeep,
The stock has once again made a DOUBLE TOP at the previous high of 1020. If it gives a break out then more upside can be expected. The tail winds are strong too. Lets hope for the best.
| DATE | FEB 14 | FEB 17 | FEB 18 | FEB19 | FEB 20 | FEB 24 | FEB 25 | FEB 26 | |
| PRICE | 947 | 947 | 948 | 978 | 981 | 981 | 987 | 1021 | |
| CCI | 29 | 28 | 26 | 124 | 205 | 156 | 140 | 214 |
Tony..
Hi Parvez,
Sent you the book. Happy reading.
Tony
Hello Nabendu,
Please give me your email id and I will send you some books on Candlesticks. Will explain 50/200 EMA on the forum or send you material on it.
Not forgetting to thank you for your kind words. Do participate actively and write often on the forum. If i can help you, surely will do my best.
Tony
Dear Tony,
yes now no confusion.
Your explanation & Check list have cleared all doubts.
it is really imp for investor to keep cool when market is frenzy & when you have missed the train 
thanks a lot.
regards,
rakesh.
Hi Tony,
Do you use default values of 14 and 20 for RSI and CCI respectively?
Dear Tony
I have been tracking the CCI movements of both Pidilite and Atul auto. I have bought Pidilite as I thought it has initiated a buy signal and thinking of buying Atul Auto as it is also doing the same. Do you agree?
Regards
Abdul,
Yes I do use the default values wherever possible.
Tony
Ashwin,
I have put a check list. Please follow that. Your analysis is correct.
Tony
Hi Tony,
For Avanti feeds what prices should we watch out for making an entry points? The stock has currently been consolidating in 430-440 range after making a peak at 515.
Regards,
Rajarshi
Rajarshi,
AVANTI FEEDS:(435)
The stock has had a phenomenal run up recently. Presently it is in the O column on a BUY signal. It has support at 410 from where it broke out and then at 380 and 285 on the Point and Figure Charts.
On the candle sticks, the RSI at 62 and CCI at 34 are both sloping downwards showing selling pressure. Next supports are at 415-400-300 and 250. Some more downside can be expected. The stock should hold 380 by which time the selling pressure will be over. Watch the CCI for change in trend.
Tony
Tony -
I’ve a couple of questions to ask. Feel free NOT to answer if you wish so.
Do you own Chartink? Secondly, how has the performance of your PF compare by using the aid of technical analysis? Does it help significantly. I’m not experienced enough to say as timing the market is futile. It really is. I’ve bought VP stocks (Avanti, Mayur) at all time high and am now sitting on decent profit. Over a period of time (decade or so), it doesn’t matter if you time the market.
This is not to undermine technical analysis. I’ve started using Chartink and feel it is very simple. Just look at the CCI and RSI and buy after it is in the inverted color triangle (30 & -100). Price below 21/50/100/200 DMA also aids in decision.
Ashwin,
I do not own chartinks. Surprised at this question. I would suggest you read my introduction on Valuepickr. Searched a lot on Google to find it to support my learning of Point and Figure. Someone was kind to give me the book by Tom Dorsey which I share with all.
After I started learning technical analysis my performance has improved tremendously. This blog has given me support on WHAT stocks to BUY based on fundamentals. Technical analysis helped on WHEN to buy.
Started my learning with Point and Figure, then blended with other tools like CCI, RSI, Moving Averages etc. This is my own hard work without any references to books. So what you see in my writing is sheer hardwork and perseverance. Worked sometimes 6 hours a day. Success does not come easy. Try my best to give all my ideas at this blog because I believe that knowledge has to be shared. It should not be taken to one’s grave without sharing.
Before sharing any idea, I test it how it works so that others are not affected. However technical analysis is an art, some charts don’t work. But success rate has been high.
Hope you too benefit from my teaching if you find it useful.
Fundamentals backed by Technical Analysis is the perfect combination for me. How about you?
Tony
Tony -
Where you positively or negatively surprised? 
I love Chartink site and would’d been happy had it been yours. Was curious, so asked. No other reason whatsoever.
This was my first post but I read all your post. Good to see a person (along with Hitesh) answering all the individual questions. So patient and good analysis. Thanks a lot!
In my writings I keep speaking about the importance of Commodity Channel Index and how it is one of the best oscillators which correctly indicates when a stock is in Overbought territory and can be sold and when it is in Oversold territory and can be bought.
Here are some good links to videos on YOUTUBE which might interest some of you.
http://www.youtube.com/watch?v=Oa9Ia99qstA
http://www.youtube.com/watch?v=KQkmG7C7nA0
Once you go to these links, you will get more videos if you look to the right side of your screen. These are one of the best I have seen on Youtube.
Tony
Hi Tony,
Do you consider volume in your TA.
Chartinks or other site provides either BSE or NSE volume. Is there any way or any site which provides sum of BSE and NSE volume?
Hello tony, your technical view on Canara bank and IDFC , Thankyou
Hi Tony,
Can you please provide the TA of Shilpa Medicare and Alembic Pharma? At what price should one look to accumulate them?
Thanks,
Ankit