Radico Khaitan - inching up for a fresh breakout with promising volumes. The character of the chart is base formations and relaxing for a long before flying again.

A great formation in making.

Prince Pipes - a major H&S top in formation on a weekly scale. the breakdown should be with a strong candle closing below 575 for the confirmation

Ok. Let me take you to one method of adding stocks in a healthy uptrend while they are retracing. I learnt this from the classical work of David Landry (2003)

Conditions - Healthy uptrend and retracing.

But - you don't know how deep the retracement will be.

So, what to do?

Example - Minda Corp Chart

Healthy uptrend? Yes
Retracement? Yes

With every retracement candle, we move our buy limit order at candle's high. So the first order we placed at 1. In a way, we are telling the broker to buy when the price crosses 1.

Ok. So it has gone down further the next day, we shift the buy order at 2.

Then again at 3

Then at 4.

We do it it'll it is triggered and shares are bought. In this way, we dodge Fibonacci numbers. As by drawing 38% of 61.8% we couldn't ever know till how deep the stock goes.

You can use the same with your SIP stocks for long-term investment while buying at the dips. As you never know till how deep it dips. :) So, you will have cash always till you buy near the bottom. Of course of retracement, not the trend reversal.

A healthy uptrend is the first condition. Happy investing :)

That is why you must learn about what each legend has written. You can save a lot of your hard-earned money. Place a SL little above candle's high.

When I look back at my chartbook - get only one lesson.

Never ever book your profits at the target. Trail the stock till it goes. For LT investors, long-term charts with MA. Targets are to calculate the R:R ratio at the buy point.

Tata Power

My exit strategy is simple - If a stock moves up by 10-15% from my buy price, I sell 20% positions and bring the SL of remaining at the buy price. After it moves further up, I trail with 21 MA and if it is up over 100-150% from initial entry, I trail with 50 MA.

ADSL - exit case

My top recommendations for the Chart Patterns if you are interested.

Varun Beverages - so far a stronger name holding up above all key MA.

Asain Paints

Bajaj Finance & 200 DEMA

Pray for Asian Paints taking support in the middle and bouncing back above the Right shoulder else the target of 2550 is open now.

This breakdown has come below 200 DMA

HDFC Bank - price bouncing back from the support must knock off the previous highs else it becomes weaker. Not a healthy sign till now. Need a strong follow-through. The zone of 1290-1300 is still to be tracked carefully.

This is called as opening range strategy taught for lakhs. Observe the high and low of the first 15 minutes candles. Buy the at the BO of that candle or sell at the breakdown with trailing SL using 5 period MA. Switch over to a 5min chart once bought.

Tata Elxsi

Don't be biased in the market. Even if the stock has moved up a lot, it is consolidating tightly near the highs. This consolidation was much needed. I will look to go long with more tightness & the follow-up BO, if any. Not long yet. the stock is still strong.

Tata Elxsi

Use Williams Alligator Indicator if you are using the free version of tradingview and can not go beyond 4 indicators.

In the Alligators' indicator, you get 3 MA in one tool. By default, you get 5, 8 & 13. You can change them accordingly. This saves your indicators list.