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M Prem Rajan started the topic Lic Housing Finance – hangman- Entry:475 Stop Loss:494 Target:445 in the forum Hammer and Hanging Man 8 years, 7 months ago
After a steady increasing trend of the price, there is hangman formed with significant increase in volume. The entry is the low of the hangman, which is 475 with a stop loss of its high of 494. The target is 445.
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M Prem Rajan started the topic Asian paints-Bearish Engulfing-Entry:846 Stop Loss: 884 Target:800 in the forum Engulfing Candlesticks Patterns 8 years, 7 months ago
There was a steady stream of bullish candles followed by a bearish candle that covers the whole of the previous day’s candle body with relatively higher volume than previous few days. The entry is after the low of both the candles which is 846 and the stop loss is the high of both the candles which is 884. The target price for the short position…[Read more]
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M Prem Rajan replied to the topic Ashok Leyland – Bullish- Dow theory- Entry:100 SL: 80 Trgt:130 in 2-4 mnths in the forum Dow Theory – Old but a Golden Concept 8 years, 7 months ago
The price never reached the entry target and has formed a lower top, cancelling the entry to the trade.
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M Prem Rajan replied to the topic Jammu and Kashmir Bank – bullish – double bottom – 1-2 months E: 92 T:100 SL:87 in the forum Double Bottom / Double Top 8 years, 7 months ago
Thanks Johnson. The entry level was reached on 5th October.
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M Prem Rajan replied to the topic HCLTech-Bearish-Flag Pattern-Entry:840 SL:860 Target:805 Duration :1-3 weeks in the forum FLAG Pattern 8 years, 7 months ago
Entry Level of 840 reached on 9th October.
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M Prem Rajan started the topic GSPL-Bullish-Cup pattern-Entry:88 SL:48 Target:138 – historical chart in the forum CUP pattern 8 years, 7 months ago
I could not find any cup pattern just forming recently to have an actionable statement. This is based on historical chart where the target has already reached. There is low volume during the cup pattern, followed by high volume breakout at 88, which would be the entry signal. The low of 48 of the cup would be the stop loss and the target is 138,…[Read more]
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M Prem Rajan started the topic GSPL-Bullish-Cup pattern-Entry:88 SL:48 Target:138 – historical chart in the forum CUP pattern 8 years, 7 months ago
I could not find any cup pattern just forming recently to have an actionable statement. This is based on historical chart where the target has already reached. There is low volume during the cup pattern, followed by high volume breakout at 88, which would be the entry signal. The low of 48 of the cup would be the stop loss and the target is 138,…[Read more]
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M Prem Rajan started the topic HCLTech-Bearish-Flag Pattern-Entry:840 SL:860 Target:805 Duration :1-3 weeks in the forum FLAG Pattern 8 years, 7 months ago
HCL Tech has recorded a steep decline in share price followed by 2 days of stagnation around 859 levels, forming a flag formation. The highest close price of the flag is 859 which is considered as the stop loss. 840 is considered the entry level for the short position with a price target of 805 within 1-3 weeks.
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M Prem Rajan started the topic GlenMark-Head and Shoulder-Bearish-E:928 SL:1085 T:740 6 mnths in the forum Head and Shoulder 8 years, 7 months ago
The head and shoulder is not complete yet, with the right shoulder just forming. It might take another month or 2 to form. Once we see that the shoulder has formed with low volume and the price has broken the neckline, its time to go short on the stock with a price target of 740 and stop loss of 1085. The target should be achieved in 6 months.
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M Prem Rajan started the topic Bank of Baroda-Head and Shoulder-Bearish -Entry: 175 SL:192 Trgt: 150 1-2 mnths in the forum Head and Shoulder 8 years, 7 months ago
Bank of baroda has shown a head and shoulder pattern with increased volume on the left shoulder and head. The volume is reducing gradually, although it had breached the stop loss of 192 and reached 196, it is again in a downward trend, and an entry at the neckline of 175 should be a good bet by taking a short position with a target of 150 within a…[Read more]
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M Prem Rajan started the topic Andhra bank – Bearish – Dow Theory- E:61 SL: 65 T:53 2-4 Months in the forum Dow Theory – Old but a Golden Concept 8 years, 7 months ago
Andhra bank has been consistently touching lower bottoms and lower tops and it seems to have reached a lower top at 65. We would need to wait and confirm that the lower top forms with good volume and the price goes below the previous lower bottom of 61.5. We can have a target of 53 by taking a short position on the stock.
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M Prem Rajan started the topic Jammu and Kashmir Bank – bullish – double bottom – 1-2 months E: 92 T:100 SL:87 in the forum Double Bottom / Double Top 8 years, 7 months ago
The Jammu and Kashmir bank interesting had a double top in the past, but now has formed a double bottom. Conservatively, if we enter the long position at 92 with a stop loss of 87, we can expect a target of 100 within 1-2 months based on the trend in the chart.
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Ganesh and M Prem Rajan are now friends 8 years, 7 months ago
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M Prem Rajan started the topic Ashok Leyland – Bullish- Dow theory- Entry:100 SL: 80 Trgt:130 in 2-4 mnths in the forum Dow Theory – Old but a Golden Concept 8 years, 7 months ago
Based on Dow theory and the price pattern, the company has been steadily bullish except for a small pause, and is continuing to show strength in the upward swing and volume. Ideal entry would be once the price crosses about 100 with good volume with a profit target price of 130 and a stop loss of 80. The risk is a bit high about 20%, but the price…[Read more]
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M Prem Rajan replied to the topic Why the positional analytical methods are not followed in intraday analysis? in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
Positional analysis methods are not followed in intraday analysis as the intraday price swings are primarily determined by marktet sentiment rather than fundamentals or technicals of the stock.
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M Prem Rajan replied to the topic What is intraday analysis? How it is different from positional analysis in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
Intraday analysis is understanding the market momentum and taking position along with the trend to make profit by making trades and covering them on the same day. It is different from positional analysis where the approach is not bottom up, but rather top down.
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M Prem Rajan replied to the topic Why do we need to close the intraday position on the same day? Is it mandate? in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
We need to close the intraday position on the same day as the settlement happens at the end of the day and to maintain the integrity of the trade deals done during the day. In case the position is not closed, the exchange would go to auction market ot secure the shares or debit cash for shares in addition to penalty to the defaulter.
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M Prem Rajan replied to the topic Do global markets impact the intraday price movement? How? in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
The global markets impacts intraday price movements. All business throughout the world is not interconnected and a positive/negative news at one place has a cascading global impact.
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M Prem Rajan replied to the topic What is the IDEAL time to trade intraday? in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
The IDEAL time to trade intraday is after 10:00 AM when the high market volatility due to market open is cleared and the direction of the market is trackable with relative predictability.
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M Prem Rajan replied to the topic What is the process of identifying momentum stock in intraday? in the forum Intraday Analysis for Day Traders 8 years, 7 months ago
The process to identify the momentum stock intraday is to find the market trend and sector that is following the trend in the same direction with maximum vigor. The stock in the sector which is moving in the market and sector direction with high volume and price difference should be the momentum stock for the day.
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