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How to trade using iCharts Levels - C T Ramesh Raja Method
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Author How to trade using iCharts Levels - C T Ramesh Raja Method
om shri
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Post: #61   PostPosted: Wed Jul 18, 2012 10:27 pm    Post subject: Reply with quote

sonila wrote:
Imperfect bullish close, what it means ?


yes, it is nice , if somebody clearly gives the explanation for imperfect bullish close and imperfect bearish close, with some examples.
thanks in advance
om shri
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dine
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Post: #62   PostPosted: Wed Jul 18, 2012 11:21 pm    Post subject: Reply with quote

Bullish Imperfect Close

(open-low)+open > close

Today's Examples : Nifty-1M, TCS-1M, EDUCOMP-1M, SBIN-1M and many more.

Bearish Imperfect Close

open - (high-open) < close

Today's Example: Mphasis-1M .. I don't find anything else for today eod data here.

How to trade Bullish Imperfect Close ?

These scrips tend to have significant resistance around Bull - R1 band.. So Watch out for price action behavior in this band and trade accordingly.. With stops slightly above R1.

Disclaimer: I have not traded this scenario often. Sad

Regards,
Dinesh S.
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sherbaaz
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Post: #63   PostPosted: Thu Jul 19, 2012 8:21 am    Post subject: Reply with quote

Following are the Nifty 50 stocks in cash having imperfect close:

Bullish Imperfect Close:

BHARAT PETROLEUM CORP LT
HCL TECHNOLOGIES LTD
INFRA. DEV. FIN. CO. LTD
OIL AND NATURAL GAS CORP.
RELIANCE INDUSTRIES LTD
SIEMENS LTD
WIPRO LTD

Bearish Imperfect Close:

ACC LIMITED
BHARTI AIRTEL LIMITED
HDFC BANK LTD
HINDALCO INDUSTRIES LTD
HINDUSTAN UNILEVER LTD.
INFOSYS LIMITED
KOTAK MAHINDRA BANK LTD
TATA CONSULTANCY SERV LT


Regds,
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arnav2007
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Post: #64   PostPosted: Thu Jul 19, 2012 8:37 am    Post subject: Reply with quote

Dear RR sir

kindly let us know some e.g. to take help of imperfect bullish/bearish close in trading.

regards

arnav
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sumesh_sol
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Post: #65   PostPosted: Thu Jul 19, 2012 12:24 pm    Post subject: Reply with quote

nf crossed bull+20 level in the mornign iteself..

Now trying to retrace, so as per rule there will be a buy @ bull level(5240) with reversible SL of LOC (5225)..

Let's see..
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rameshraja
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Post: #66   PostPosted: Thu Jul 19, 2012 2:22 pm    Post subject: Reply with quote

NF is not supposed to break weekly LOC of 5238.10
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rameshraja
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Post: #67   PostPosted: Thu Jul 19, 2012 9:38 pm    Post subject: Reply with quote

I presume, many have not understood clearly the Imperfect close strategy.

Its not a Technical standalone strategy to Short on imperfect Bullish close or to Long on Imperfect Bearish close.

I have observed many a times, that for a stock which has imperfect close in Bullish candle, tend to face lot of selling pressure next day after couple of hours of market open and stocks which has imperfect close in Bearish candle, tend to take support next day after couple of hours on market open.

I have mentioned in shout box, usual time would be around 11.30 AM.. Its not necessarily it should take support or face resistance exactly at 11.30. Many occassions, it would have happened in first 15 minutes itself.

Main idea of filtering the imperfect close is to track only those stocks for long and short with icharts levels or any pivot methodology one follows.. be it CAM or Pivot or Fibonacci.

Once filtering is done on imperfect close, for all imperfect close in Bullish candle, one can look at Resistance level namely BULL level as per icharts, or R3 as per CAM or R1 as per Pivot method for shorting opportunity

And for imperfect Bearish close, one can look at Support level namely BEAR level as per icharts or S3 as per CAM or S1 as per Pivot method for buying opportunity.

Its not a hard and fast rule, it should definitely take support or resist at above mentioned levels. One has to use the chart and look for reversal to happen.

In a nutshell, the basic idea behind imperfect close filtering is only to concentrate on those stocks to look for opportunities to either go for long or short.

C T RAMESH RAJA
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vinay28
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Post: #68   PostPosted: Thu Jul 19, 2012 10:48 pm    Post subject: Reply with quote

I have a doubt. If I use formula given by Dinesh, today's NF data satisfies both Bullish and Bearish Imperfect closes. How does one treat it? The one which is closest to close?
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dine
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Post: #69   PostPosted: Thu Jul 19, 2012 11:02 pm    Post subject: Reply with quote

Vinay,

Today's open 5260.6 > today's close 5257.. So, this is a bearish candle (open > close).. So you only need to check for bearish imperfect close and yes it is a bearish imperfect close... ( and it cant be a bullish imperfect close though the formula satisfies..cos the candle itself is bearish)

Regards,
Dinesh S.
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rameshraja
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Post: #70   PostPosted: Thu Jul 19, 2012 11:08 pm    Post subject: Reply with quote

Formula for Imperfect close:

IMPERFECT CLOSE IN BEARISH CANDLE:

On 25th June, Nifty has made imperfect close in Black candle. The OHLC of the day:

5148.90 5202.90 5098.20 5109.30

Formula : ( HIGH minus OPEN) – OPEN

(5202.90 – 5148.90)-5148.90 = 5094.30

For a perfect close, it should have closed below 5094.30, whereas it has closed at 5109.30. when it closes like this, then its termed as Imperfect Close in Bearish Candle.

IMPERFECT CLOSE IN BULLISH CANDLE :

On 31st May, Nifty has made imperfect close in Bullish Candle. The OHLC of the day:

4900.00 4926.55 4880.20 4916.25

Formula : ( OPEN minus LOW) + Open

(4900 – 4880.20) + 4900 = 4919.80

For a perfect close, it should have closed above 4919.80, whereas it has closed at 4916.25. When it closes like this, then its termed as Imperfect Close in Bullish Candle
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chetan83
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Post: #71   PostPosted: Fri Jul 20, 2012 12:32 am    Post subject: Reply with quote

rameshraja wrote:
Formula for Imperfect close:

IMPERFECT CLOSE IN BEARISH CANDLE:

On 25th June, Nifty has made imperfect close in Black candle. The OHLC of the day:

5148.90 5202.90 5098.20 5109.30

Formula : ( HIGH minus OPEN) – OPEN

(5202.90 – 5148.90)-5148.90 = 5094.30

For a perfect close, it should have closed below 5094.30, whereas it has closed at 5109.30. when it closes like this, then its termed as Imperfect Close in Bearish Candle.

IMPERFECT CLOSE IN BULLISH CANDLE :

On 31st May, Nifty has made imperfect close in Bullish Candle. The OHLC of the day:

4900.00 4926.55 4880.20 4916.25

Formula : ( OPEN minus LOW) + Open

(4900 – 4880.20) + 4900 = 4919.80

For a perfect close, it should have closed above 4919.80, whereas it has closed at 4916.25. When it closes like this, then its termed as Imperfect Close in Bullish Candle


Thank you sir for sharing the method.

If I am not wrong then BNF has given a imperfect bearish close, and we should look for buying it around S1-10573.37 with S2 as stop (10538.37)......
I will ask another question after 20/07 trading hour IF reverse will take place...

Regards,
Chetan.
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vids
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Post: #72   PostPosted: Fri Jul 20, 2012 7:41 am    Post subject: Reply with quote

Dear RR sir
How to calculate LOC / weekly LOC ...

Regards,
Vids

rameshraja wrote:
NF is not supposed to break weekly LOC of 5238.10
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arnav2007
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Post: #73   PostPosted: Fri Jul 20, 2012 8:08 am    Post subject: Reply with quote

Dear R.Raja sir

Kindly look at the excel sheet attached herewith for scanning for imperfect bullish and bearish candle
here candle closed in red are considered for finding whether it was imperfect bearish or not. same with green candle for finding whether it was imperfect bullish close or not.

Kindly tell is it right ?

arnav



rameshraja wrote:
Formula for Imperfect close:

IMPERFECT CLOSE IN BEARISH CANDLE:

On 25th June, Nifty has made imperfect close in Black candle. The OHLC of the day:

5148.90 5202.90 5098.20 5109.30

Formula : ( HIGH minus OPEN) – OPEN

(5202.90 – 5148.90)-5148.90 = 5094.30

For a perfect close, it should have closed below 5094.30, whereas it has closed at 5109.30. when it closes like this, then its termed as Imperfect Close in Bearish Candle.

IMPERFECT CLOSE IN BULLISH CANDLE :

On 31st May, Nifty has made imperfect close in Bullish Candle. The OHLC of the day:

4900.00 4926.55 4880.20 4916.25

Formula : ( OPEN minus LOW) + Open

(4900 – 4880.20) + 4900 = 4919.80

For a perfect close, it should have closed above 4919.80, whereas it has closed at 4916.25. When it closes like this, then its termed as Imperfect Close in Bullish Candle



Imperfect Close.xls
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bolband_macd
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Post: #74   PostPosted: Fri Jul 20, 2012 8:52 am    Post subject: Reply with quote

rameshraja wrote:
Formula for Imperfect close:

IMPERFECT CLOSE IN BEARISH CANDLE:

On 25th June, Nifty has made imperfect close in Black candle. The OHLC of the day:

5148.90 5202.90 5098.20 5109.30

Formula : ( HIGH minus OPEN) – OPEN

(5202.90 – 5148.90)-5148.90 = 5094.30

For a perfect close, it should have closed below 5094.30, whereas it has closed at 5109.30. when it closes like this, then its termed as Imperfect Close in Bearish Candle.

IMPERFECT CLOSE IN BULLISH CANDLE :

On 31st May, Nifty has made imperfect close in Bullish Candle. The OHLC of the day:

4900.00 4926.55 4880.20 4916.25

Formula : ( OPEN minus LOW) + Open

(4900 – 4880.20) + 4900 = 4919.80

For a perfect close, it should have closed above 4919.80, whereas it has closed at 4916.25. When it closes like this, then its termed as Imperfect Close in Bullish Candle


Hello Sir,
Sincere thanks for such a detailed analysis. This is surely going to help traders in "Fine tuning" their systems. This strategy also elaborates the BEST POSSIBLE use of iChart levels.
Thank you once again sir.

Best Regards,
BM
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vinay28
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Post: #75   PostPosted: Fri Jul 20, 2012 9:26 am    Post subject: Reply with quote

dear ramesh raja

when you say NF is not supposed to break weekly LOC of 5238.10, which time frame are you talking about or is it instantaneous?
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