iCharts Discussions

[casper]

[casper]

[deepakms]

Casper,

Great explaning done here buddy......we all watch for BO/BD so closely and try getting into successful trades, the points explained here are not always on our mind...although it was told initially.

This sure helps ALL folks in our forum to be more cautious.

Thank You,
Deeppak

[sumesh_sol]

UFLEX
********
Above 212.. we can see 217/223..

(One special note to my day-trader friends,,,, please keep booking on any good upmove , or else u may get trapped, like in UTVSOF I booked 70% at around 584 seeing resistance... ).

[anand1234]

hi...........sumesh............
I purchased utvsoft @ 581...........still holding...........any s/l?............pls guide me.............

thanks
anand

[sumesh_sol]

[casper]

vakran soft

310 is weekly resistance

a break above that can take us to 315-320

a candle close below 310 level after the bo should be our 1st sl

[girishhu1]

hello casperji,
enclosing chart of hcltech bo at 463.8 level with vol. kindly confirm
regards,
girish

[casper]

an analysis of ICICI bank as of 4th January 6.20 pm


i was not asked this question, still i am trying to describe how i see icici bank now. if one of my brothers gets trapped as higher as 1150 and still holds icici bank then the situation becomes quite indigestible for me.


icici closed around 1104, being a basic member, my chart is not updated, so i have marked the zone with dark color in the chart

at this level, we see the lower band of the bollinger band and 23% of fib retracement of previous up move stays. so here we expect a good support


the 5 min and 15 min break up of icici data shows a strong positive divergence which may signal for some up move, not a robust move, still some up move, my experience says it can go up to weekly s1


at the same time we have a double top formation at 1150 level which has broken down today,

now joining the fact of support and double top, we can safely assume that if the stock holds 1100 level then can go up to 1120

and if this stock breaks below 1100, we can expect 1050


now, let us think about what may happen tomorrow and how can we tackle the situation


1. suppose it is holding 1100, then with the stop loss of weekly s2 at 1092, we can buy some more to average our existing position and book the total position at weekly s1 at 1120 or monthly pivot at 1125


2. suppose it is broken down from1100 level then we can buy put of 1100 and target 1050 or wherever it stops, in this case we would not close the 1150 buy position we already have


let icici take support, we will sell the put with good profit and buy another lot of icici in future to average our existing position

then we can sell it when it retrace back to 1100-1125 level again in coming days


that is the two possibilities i can see now


at last i would like to say something

sumesh and vishy is service holder, i have a small business, we all remains very busy with our work and our trading also, it is not easy to find set ups and post that everyday. still we do this. just to see some happy faces of our brothers at the end of days. just to have the reason to smile together and enjoy whatever lil bit we can earn from the market this way. we have no intention and practically no reason to advertise ourselves as "experts", all we do is out of our passion for T.A and with a feelings to share whatever we can through this media.

but if any of u take our calls without adhering to proper risk management it can turn the whole thing upside down and ruins our days

because we like to be clear before our inner-selves, so we just cant wash out our hands saying "why he has traded this call? i hav not forced any body!!!! "


so plz, to keep the things going, help us by using stop loss

[Rahulsharmaat]

please tell me about SBIn n bank nifty prospects-
I am long in Sbin at 2840-- Bank nifty at 11900

Holding position still--

Both break out of 16 day trading range

please reply soon

[girishhu1]

hellow casperji,
your sensitivity to others problems is reflected through your analysis of icicic bank analysis. kindly preserve this sensitivity which would definitely help u in future as an individual.
regards
girish

[singh.ravee]

[vishytns]

Great Thread.........It is ROCKING.

Make trading your PASSION, as rightly said by Ravee and Casper. Geting into a trade should be done very carefully and with analysis of the stock movement for atleast a day. DONT JUMP into trades and lose your HARD EARNED MONEY. Every minute is an oppurtunity in stock market. IF you are entering trade, you should know where you should book your profits and you should know the risk u can take (stop loss).

RISK MANGAMENT IS MORE IMPORTANT AND COMES AFTER "TECHNICAL ANALYSIS". So please pay attension towards RISK Mangement first and then one can learn techincal analysis.

HAVE safe trading.
Vishy.

[casper]

hiiii


sorry for late



sbin= the stock has made an evening star candle pattern in eod, right now we have strong support around 2700-2688 level on eod basis


we have seen lots of positive divergence in lesser tfs such as 15min or 5 min tf, which can effectively give us some up move, this upmove can take us up to 2750 or max 2780


so if tomorrow sbin hold 2700 then we can buy another lot to avergae the existing position, here sl will be below 2688


but this is tricky


suppose it is not holding the 2700 or 2688 max, then we have to but 2700 puts targeting 2650/2600/2575 range


in that case we will make loss in future but the put option will save us




bank nifty= another missile

it has also made evening star pattern

it has strong support around 11500, if it breakes then no support up to 11000

if 11500 is respected we can average our existing position but with strict sl

or if 11500 is broken then we have to but puts


if some body has enough, i mean it, enough money to use, then he should be able to turn around from this situation also

i am not telling u to do the following, but one can do if he has proper risk management skills


in this situation, be it icicibank/sbin/bnf whatever

if u r making loss with one future position then buy 2 puts and wait to see where the market heads

if it goes lower, then book the put when the stock finds support,(wherever it goes)

then with that profit, buy another future lot when the price starts up moving again


and if after buying the put, stock starts going up, then u r in profit with ur future lots, and for the puts u already bought, its price will go down for sure
so u sell it every day at higher level and book at lower level, but dont give up at once. who know a few days later u may use it again

its easy to say but hard to do

f/o is meant for professional traders only

just i wrote the last strategy for reference only

i am not asking any body to follow it blindly to make another blunder

just if we become a little more careful, then we can avoid all these types of mistakes

[casper]