What is a chart?

What is a chart? It is a mirror giving reflection of price movement of a indicating oversold/overbought position & trend etc.

Many stocks vanished from market after discovery of scam but till such discovery no one was aware of the fraud.

This does not mean that chart is of no importance.

I check chart but pays more importance to resistance & support level.

Best is to take entry in fundamentally good stock at proper level i.e. not when they are overbought.

My one simple rule is to ask myself before taking entry will I be able to buy it 10 more times at proper level if it falls?

Many people buy a stock with a stop loss figure in mind. They exits the position if SL hits, but this erodes there capital.

Best is take entry into good stock [ what is a good stock is another subject , I may write about it latter] with comfortable qty.

with regards

Mahesh Sawerdekar.

STOCK MARKET.

A stockbroker urged me to buy a stock that would triple its value every year. I told him, "At my age, I don't even buy green bananas." - Claude Pepper.

Mahesh Sawerdekar.

CNXNIFTY

Yesterday NIFTY closed at 5840.55, previous closing was at 5850.60. 
PP - 5865.35.

R -  5,932.45 , 6,024.40 , 6,116.35
S -  5,773.40,  5,706.25 , 5,614.30

GREEN     D.ZONE     RED   
5,880     5,847      5,836

I have position in -

ASTRAZEN, BASF, BAJAJFINSV, BERGEPAINT, CADILAHC, CUMMINSIND, CRISIL, OFSS, THERMAX, TORNTPHARM, M&MFIN, NESCO, L&T, LICHSGFIN & few more stocks

Yesterday I took delivery of M&MFIN at 258.30 qty only 25 nos. I prefer to buy in small qty for I buy more at every proper fall.


SUNPHARMA looks good to buy at 549 / 544.50.

New comers must keep patience, keep track of fundamentals along with chart reading. BSE periodically offers courses regarding chart reading etc.

.Even a thief takes 10 years to learn his trade
S.MAHESH.