Thursday, January 10, 2013

Stock Ideas

  1. Allahabad Bank broke out of an obvious HnS. The target for HnS is 189.50.
  2. We have some head room to go, and a flag is developing on the chart, a BO from flag should provide a good entry.
  3. The BO may target 189.50 for starters with a possibility for exceeding that level. SL below the lowes point of the flag.
  1. Andhra Bank is in a similar position.
  2. The target for HnS comes around 145.20, with a flag forming on the chart. A BO would be a great place to jump on the train.
  3. SL below the extreme of the flag.
  1. Central Bank has formed my pet pattern an F. We now need a BO from this F, the target for the earlier BO from a HnS was around 100.
  2. SL for the BO from F should be kept below the extreme of the flag.
  1. Corporation Bank looks good for a flag, a small consolidation to this up trend. The target for the HnS comes around 490, and the stock is bang on target.
  2. Those who are already long this counter, should use this consolidation to exit.
  3. But a BO from the flag may give a tradable move. Trade this one with caution, stocks discussed before this one are preferred.
  4. If the BO trade is taken SL should be kept below the Flag extreme.
Note: These are continuation trades. The trades will be taken only when we get a good high volume BO from the flag patterns. A flag pattern is not very precise, a trader may need experience and may need to exercise his judgement while taking the trade. I have only pointed out high probability patterns to enter into an existing trend.

3 comments:

  1. You might want to check this technical analysis program: http://www.cognitum-research.com/en/wave-explorer

    ReplyDelete
  2. all gone wrong ...thank you

    ReplyDelete
    Replies
    1. Dear Anonymous,
      Did you not read the note at the end of my post. I am not here to help people make money, I just share my views on this blog, not recommending trades in ay way.
      And even if the stock ideas turned out wrong, your own trading system suiting your personality should have taken care of it.
      As far as the ideas discussed above go, none of the stock broke out except for Allahabad Bank and Corporation Bank, and they too have not yet hit their respective flag extremes to say that the trade has failed.
      I got similar comments earlier too, that time too it was by an anonymous reader of this blog. I don't mind criticism, but it should be mindful.
      Anyways I am not writing this because I am pissed at your comment, I am writing this because you need to seriously think on your trading methodology, which lets you blame others so easily.
      Best of Luck
      Aniuddha

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