one buys a stock with intention to sell it when it goes up. I prefer to use word accumulation instead of buy, for in case if the stock falls after my buying it I buy more at proper fall taking into consideration of its support.

One must do thorough scrutiny before buying. The quantity to buy depends upon one’s financial capacity. Here I would like to quote one of my broker friend, he says – “Buy only if u r ready to buy further 10 times if it falls” In another word EK ROTI KA DUS TUKDA KAR KE KHANA.

In stock market one must not trade beyond capacity and must learn to keep patience. A stock will not start flying after you buy.

Allot money to trading activity which will  not be required by you or u r family. Sometimes we hear a phrase the stock is in a strong hand. Stop loss triggers due to fear, lack of patience n weak hand.

I had started accumulating SUNPHARMA from 19/11/2013, first qty I had brought it at 614.70 there after I kept accumulating at proper dips and as on today my average buy price is 571.75. It closed yesterday at 579.70. It has resistant at 576/581, well below 576 it will try to kiss 549/544. Above 583 next resistant is in the range of 603- 608- 613. If crosses 615 then likely to touch 635- 640- 645.

It is important to watch movement of stock, the broker friend of mine is using word CHAAL for movement. In old days elder people use to ask a bride to walk at the time of VADHU PARIKSHA !

I am in the market from 1970, here my aim is to share my experience and not advocate or criticize any stock.

I have in my DP a share, USKI CHAAL bighad gayi hai, hence I am not averaging it but also not booking loss. It closed yesterday at 215.15. It is facing strong R at 224/226, and BERGEPAINT is holding S of 224.00. I am not booking loss for though the stock is not GADHA it is behaving like it and in this market some time a horse takes a pause aur GADHE bhagte hai. Anyway I have lost interest in it and hoping to get out of it in small profit. I am holding it from 15/07/2013.

BULLS MAKE MONEY, BEARS MAKE MONEY, PIGS GET SLAUGHTERED.

Yesterday Nifty closed in red at 6221.15 [-1.3%].

ASIANPAINT closed at 485.55 not broken its support of 480.00 similarly BERGEPAINT is holding its support of 224.00.

Got chance to buy L&TFH & TORNTPOWER at 72 & 114.30.

L&TFH not broken 72 convincingly it has strong support at 68 and resistance in the range of 76/78.

TORNTPOWER is holding its support of 112.00, likely to face resistance at 120/122.

Market will always move up n down.

What one is buying, at what rate n at what rate one is booking profit plays very important role.

There is one way to get accustomed to S&R, select few good stock, and trade only in them. Over a period one will come to know were a particular stock gets S and R.

Delivery based trades are always good for new player.

I am addicted to yahoo pool game, while playing it sometimes I come across a player who is having interest in stock market.

Few days back I had met Mr. Anshul Jain.

Today I met one Mr.Deva.

I feel very happy to meet such person with common interest.

We talked about ASIANPAINT. As per my view it has target of 512/ 517 & it will zoom well above 520.00.

I had brought it on 23/12 at 490.50. It has very strong support at 480.00.

He asked me about stop loss. I do not believe in SL, it has strong support at 480 n if it breaks then it will fall further but if I exit my position of 490.50 I will incur loss, hence if it breaks 480.00 I will buy more at proper level.

IMP is the sock one buy must be fundamentally strong.

ASIANPAINT had increased price of its industrial paints by 4% with effect from today.

Please read my article about Support & resistance in this blog.