Tata chem

330 is good support and as it is holding view is positive but then there is no good entry point as of now.

 

Veren, I have detailed that in ebook and I will try to explain the same here.

I look at 3 things in the following order

It should have a long term trend inline with what I plan. If I am planning to go long, it should have a longer term trend up.

So if a stock is not in uptrend then I rarely go long in that stock because at times I become busy to track my stocks. If I know I have some free time in the near future, I may consider taking position into more risky patterns like trading against the trend but that is rare.

Now once trend is identified I see the formation of W or higher top, higher bottom for long or M and lower top, lower bottom for shorting.

This helps me identify the support as well as resistance levels.

Now once I have the key levels I see if there is a breakout above resistance or break down below resistance and those are my one of the entry levels.

The second entry levels are points when support does not break and stock shows good volume and support is held. The 4th wing in W.

Let me know if it is clear or I will explain more.

 

The pleasure is all mine.

 

No it means I don't prefer to have too many params when trading. I prefer the ones that I have in the ebook only.

 

You should be able to do that by now and so I will suggest you to be doing that and share with us and if there is something you are wrong in or need correction, will definitely help you out. Its the process of learning and you can be wrong like I have been in the past many a times.

Does not matter and what matters is what stocks will perform and how can you invest them in the right time and at the right price. These terms are more often used in TV where they want to be telling only good things about market.

All I can say is happy Diwali and you should be recommending stocks but still check out VGuard and CRISIL.