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Stock Trading Technical Analysis

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Stock Trading Technical Analysis

Last updated: June 5 2019
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  • Stock Trading Technical Analysis

    I did a course yesterday on Technical Analysis yesterday so decided to start a special thread just to discuss technical analysis based trading.

    I am a total newbie to this - since my knowledge is all of one day old - but find that discussion sharpens the mind, so decided to open a thread to discuss - if other like minded people are still around here.

    Was looking at reliance since morning - on 15 min chart (below) looked like an elliott wave, 1,2,3,4 and 5

    On hourly chart and daily chart it is still wave 1

    If it retraces to around 1200 (depending on where it goes on the upside before correcting) in two legs (wave 2), it should confirm an Elliott wave - do any of you agree (any of the old gang still around? Rohit, Wiseman and all?

    Buying around 1200 should give a big upside in wave 3.
    Venky (Please read watch a or before posting)
  • #2

    #2

    Re : Stock Trading Technical Analysis

    I have to admit that I do not have any knowledge on this topic. Invite ashish18 manzb revhappy to contribute

    Comment

    • #3

      #3

      Re : Stock Trading Technical Analysis

      Thanks sharpj - how are you doing? Long time I been away from here lol
      Venky (Please read watch a or before posting)

      Comment

      • #4

        #4

        Re : Stock Trading Technical Analysis

        Yes... It has been sometime. rohit_warren wiseman have completely disappeared. Rev happy has been regular giving me company

        Keeping my bets on equity going..though major investment is through MF rather than the individual stocks which are few.

        Pharma has been through MF and equity is Sun and Aurobindo.

        2019 will be interesting due to the elections.. Not sure how the country votes.. From a pure economic view.. BJP majority was not really met the expectation. Hoping for a decent government which is stable.


        Originally posted by Venkytalks View Post
        Thanks sharpj - how are you doing? Long time I been away from here lol

        Comment

        • #5

          #5

          Re : Stock Trading Technical Analysis

          Originally posted by Venkytalks View Post
          Thanks sharpj - how are you doing? Long time I been away from here lol
          Kind of unrelated to the thread but I really liked your yearly predictions. I wish you could do it for 2019 as well. As there are way way too many factors that impact the financial and geopolitical matters, getting any predictions right would be almost impossible. However, your predictions made many a brains to think and understand the current situation. I have friends who are predicting a huge meltdown in financial markets spanning the continents based on their calculations (rather too complex for me to comprehend). So please see if you can accomodate writing the possibilities for 2019.

          And yes. Welcome back!!!

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          • #6

            #6

            Re : Stock Trading Technical Analysis

            I am neither a stock picker nor a person who follows technicals. I just dont have the skills required, the cIosest I can relate myself is with Bogleheads, asset allocation and passive investment. I have decided to follow that path. I am just very confused with what to do with my India funds. If you follow Bogleheads, it is very against single country allocation. Even if your country is US. In our case it is even more risky emerging market. INR has been weak recently so it is not profitable to repatriate at these valuations. But if rupee stays stable for sometime and I collect some extra yield I will probably move some of my NRE FDs offshore.

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            • #7

              #7

              Re : Stock Trading Technical Analysis

              Originally posted by Sharpj View Post
              I have to admit that I do not have any knowledge on this topic. Invite ashish18 manzb revhappy to contribute
              Thanks .. I do trading and has been quite active for last more than 2 years. I normally do derivatives trading and normally Option seller. Occassionally do day trading basis the momentum and gut feeling (not the best way to do). Have been making decent money from my options selling backed by the stocks portfolio I have. These charts I heard, definitely can help to do trading in a more professional way but not my cup of tea as I don't get that much time to constatntly monitor the same, which is essential.

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              • #8

                #8

                Re : Stock Trading Technical Analysis

                Venky, welcome back. I have long given up on Elliott waves, but will watch keenly for your posts.

                After trying and testing over 30+ indicators over the years, I realized that there is a connect between your trading style/personality and the Indicators you choose for following the rules. So whatever works for you is best.

                Let's begin.

                Last edited June 5 2019, 08:00 PM.

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