If you remember in our October Post we discussed about the trading with Guts vis a vis Mechanical Trading and presented charts of two stocks; Torrent Power and Mcleod. Both are still going strong and did not tank much during the recent melt down.
http://swingtradingideas.blogspot.com/2009/10/mechanical-trading-and-trading-with.html
Its another way of judging your stock, its known as relative strength. It is a very usual observation- what your stocks did with the markets? Did they go down faster than the market or stood firm. This relative strength is not to be confused with Beta of the stock. In fact it can be loosely compared to Alpha of a stock.
Our this weeks Ideas are : Aptech Ltd Support 166, Resistance 213/220, Harrison Malyalam Support 100, Resistance 138 and Andhra Bank Support 109, resistance 130/ 150 .
Aptech was hammered down and may bounce back. Bank of India is another stock which has been butchered a lot. Lets see how these two beaten down stocks behave this week.
Monday, November 9, 2009
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