šŸ“¢ Ask Me Anything About Technical Analysis: May 23, 6-7 PM!

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45

Many time I tale correct entry in stock but I am not make correct exit some time I exit in small margin then stock will boom n some time I am waiting for big tgt but stock is not achieve kindly help me how to check correct entry and exit

46

Hi @ANIL_1027687

Advisorā€™s pick on Upstox App provides expert-curated trading and investment ideas from SEBI-registered research analyst.

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47

Hi @SHRUTI_26549770

For this AMA, we are not discussing individual stock/index recommendations. However, happy to discuss if you have any queries related to Technical Analysis concepts/subject. Thanks!

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48

Hi,
I do swing trades primarily using price action. Whenever i cant see a visible support zone, i keep my stop losses at like -1%. But this doesnt seem to be working. What should be an ideal stop loss. My targets are like 3 to 4% usually.

49

Hi @CHIRAG_36280442

This is an interesting question. You can use any of these strategies to exit a trade:

  1. Risk:Reward (R:R) Based Exit: Employ a predefined Risk:Reward ratio for exiting. For example, a 1:3 ratio for positional trades or 1:1 for intraday trades. In an intraday trade, if your risk is Rs. 2, you would set an exit target of Entry price + Rs. 2.

  2. Technical Analysis (TA) Strategy-Based Exit: If you are using, for instance, an RSI divergence strategy, you could exit your buy position when the RSI shows a negative divergence.

  3. Stop Loss Based Exit: Utilise a trailing stop loss to exit any trade.

I hope this helps :slight_smile:

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50

This is from today, what would you call this pattern a bullish flag or a symmetrical triangle.

IMG_6917
IMG_69171125Ɨ2436 415 KB

51

Hi @BHAVANA_41569015

To trade successfully, you need a trading plan. A trading plan has 4 aspects:

1. Entry price
2. Stop loss
3. Target
4. Position size

Do you make a trading plan before trading? Let me know if you would like to learn more about it.

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52

Seriously one final thing Milan, if you could please answer. Honestly I a newbie into trading and have been trying multiple strategies but as you answered to one of the questions above that stick to one strategy and people do stick to that for life.

So my question is it okay to stick to pattern and learn more more about the same or genuinely it makes no difference as all say that RSI is the king.

53

Hi @AISHWARYA_1046740,

For this AMA, we are not discussing individual stock recommendations. However, happy to discuss if you have any queries related to Technical Analysis concepts/subject. Thanks! :slight_smile:

54

Hi @Nikita_46864890

To use technical indicators for long-term investing, you can do two things:

  1. Analyze weekly charts
  2. Look for RSI bullish divergence

If youā€™d like to learn more about RSI, you can view the third chapter of this video course: The Complete Course on Stock Trading - Uplearn

Hope this helps! :slight_smile:

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55

Thanks for the overwhelming response. You guys are awesome! :raising_hands: Weā€™ll be back with another exciting AMA soon. If you found this session helpful, letā€™s keep the conversations going on the Community.

Drop your thoughts below - what did you enjoy the most and what topics should we cover next?

56

Hi @SHRUTI_26549770

To gain a perspective on what might unfold next week, you could consider the following:

  • Analyze the weekly candlestick chart of the Nifty 50.
  • Examine the weekly candlestick chart of Bank Nifty, given its significant weightage in the Nifty 50.
  • Check if the Nifty 50 is in an overbought or oversold zone based on the Relative Strength Index (RSI).
  • Consult the economic calendar for key upcoming announcements, such as inflation figures and interest rate decisions from central banks like the RBI or the US Fed.

These steps can provide you with a valuable head start in forming your own market view.

Hope this helps! :slight_smile:

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57

Hi @Shweta

Yes, Technical Analysis can certainly work for you! To trade successfully, hereā€™s what you need to focus on:

  1. Develop a comprehensive trading plan outlining your Entry Price, Stop Loss, Target, and Position Size.
  2. Utilise GTT (Good Till Triggered) orders on Upstox to automatically execute your trades based on the parameters set in your trading plan.

By implementing this, you wonā€™t need to monitor your trades constantly. Your trading plan will work for you, and youā€™ll receive instant notifications from the Upstox App as soon as any leg (entry, stop loss, or target) gets executed.

Hope this helps! :slight_smile:

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58

@RAJESHA_RA_2914781

For this AMA, we are not discussing individual stock recommendations. However, happy to discuss if you have any queries related to Technical Analysis concepts/subject. Thanks! :slight_smile:

1 Like