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a layman's approach to break out and break down |
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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Post: #1111  Posted: Thu Jan 06, 2011 8:42 pm Post subject: |
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hiii prashant and aromal
its not easy to irritate me by asking about trades!!! 
all tried and failed to irritate me in this way 
(just joking... never mind)
1. ambujacem= yes it is h/s but the problem is we are stopped at weekly + monthly pivot level, adding to odds, the rsi has got oversold in lesser tfs and showing positive divergence as well
now i expect some short covering at this level, we can have some upward movement up to 136 level (cash)
we will short it if it breaks the pivot levels by candle closing (60 min candle closing)
in that case, any candle close above the pivot after the break down will be our initial stoploss
but , in case of a gap up opening, we can expect it to go down and re test this level
2. tvs motor is sell of-course, but below 65 only, we have support at 62-62.30 level, monthly s1 and weekly s2 respectively
so we have to be careful at this zone
we can use it as a target
or
simply we can add more short if this level is breached
just one thing to mention, let us not get biased about the market tomorrow
nifty, as per me, is now at crucial support, its at weekly s1 and monthly pivot level
it can surprise us also
by da way, whenever u post a chart, plz mention the time frame u r using, it is very important
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #1112 Posted: Fri Jan 07, 2011 7:01 am Post subject: |
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| casper wrote: | hiii prashant and aromal
its not easy to irritate me by asking about trades!!!
all tried and failed to irritate me in this way
(just joking... never mind)
1. ambujacem= yes it is h/s but the problem is we are stopped at weekly + monthly pivot level, adding to odds, the rsi has got oversold in lesser tfs and showing positive divergence as well
now i expect some short covering at this level, we can have some upward movement up to 136 level (cash)
we will short it if it breaks the pivot levels by candle closing (60 min candle closing)
in that case, any candle close above the pivot after the break down will be our initial stoploss
but , in case of a gap up opening, we can expect it to go down and re test this level
2. tvs motor is sell of-course, but below 65 only, we have support at 62-62.30 level, monthly s1 and weekly s2 respectively
so we have to be careful at this zone
we can use it as a target
or
simply we can add more short if this level is breached
just one thing to mention, let us not get biased about the market tomorrow
nifty, as per me, is now at crucial support, its at weekly s1 and monthly pivot level
it can surprise us also
by da way, whenever u post a chart, plz mention the time frame u r using, it is very important |
Thanks casperji 
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #1113 Posted: Fri Jan 07, 2011 7:26 am Post subject: |
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hellow casperji,
india, south africa end of test series
now is the time for live broadcasting of candle by candle commentary on icharts
waiting eagerly for your comments
all the best for your new project
let it benefit a no of newbees
regards,
girish
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #1114 Posted: Fri Jan 07, 2011 7:54 am Post subject: |
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| casper wrote: | hiii prashant and aromal
its not easy to irritate me by asking about trades!!!
all tried and failed to irritate me in this way
(just joking... never mind)
1. ambujacem= yes it is h/s but the problem is we are stopped at weekly + monthly pivot level, adding to odds, the rsi has got oversold in lesser tfs and showing positive divergence as well
now i expect some short covering at this level, we can have some upward movement up to 136 level (cash)
we will short it if it breaks the pivot levels by candle closing (60 min candle closing)
in that case, any candle close above the pivot after the break down will be our initial stoploss
but , in case of a gap up opening, we can expect it to go down and re test this level
2. tvs motor is sell of-course, but below 65 only, we have support at 62-62.30 level, monthly s1 and weekly s2 respectively
so we have to be careful at this zone
we can use it as a target
or
simply we can add more short if this level is breached
just one thing to mention, let us not get biased about the market tomorrow
nifty, as per me, is now at crucial support, its at weekly s1 and monthly pivot level
it can surprise us also
by da way, whenever u post a chart, plz mention the time frame u r using, it is very important |
hi casperji,
it will be nice if u post replies with charts as readers are using different charts and support/resistance levels are slightly different
also kindly comment on ab nuvo as price has broken monthly pivot and next support is at 788. ltp 806
regards,
girish
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PrashantSarnaik
White Belt
Joined: 02 Dec 2010
Posts: 26
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| Post: #1115 Posted: Fri Jan 07, 2011 9:10 am Post subject: |
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| girishhu1 wrote: | | casper wrote: | hiii prashant and aromal
its not easy to irritate me by asking about trades!!!
all tried and failed to irritate me in this way
(just joking... never mind)
1. ambujacem= yes it is h/s but the problem is we are stopped at weekly + monthly pivot level, adding to odds, the rsi has got oversold in lesser tfs and showing positive divergence as well
now i expect some short covering at this level, we can have some upward movement up to 136 level (cash)
we will
short it if it breaks the pivot levels by candle closing (60 min candle closing)
in that case, any candle close above the pivot after the break down will be our initial stoploss
but , in case of a gap up opening, we can expect it to go down and re test this level
2. tvs motor is sell of-course, but below 65 only, we have support at 62-62.30 level, monthly s1 and weekly s2 respectively
so we have to be careful at this zone
we can use it as a target
or
simply we can add more short if this level is breached
just one thing to mention, let us not get biased about the market tomorrow
nifty, as per me, is now at crucial support, its at weekly s1 and monthly pivot level
it can surprise us also
by da way, whenever u post a chart, plz mention the time frame u r using, it is very important |
hi casperji,
it will be nice if u post replies with charts as readers are using different charts and support/resistance levels are slightly different
also kindly comment on ab nuvo as price has broken monthly pivot and next support is at 788. ltp 806
regards,
girish |
Hi Casper,
Escorts Daily chart it broke its upward channel and may resume downtrend (I assume)
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1116 Posted: Fri Jan 07, 2011 9:19 am Post subject: |
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a few charts for today
1. bhartiartl= buy above 353. target 356
2.cadilahc=buy above 780. target 790/800
3.brfl= buy at cmp, target 209/213
4.exide ind= sell below 165. target 163.162
5.gail= sell below 525. target 520.515
we will buy/sell with bo/bd in 60 min tf only
any candle close above/below bd/bo level in 60 min tf will be our sl
those who dont follow charts. i will update if sl gets breached
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1117 Posted: Fri Jan 07, 2011 9:25 am Post subject: |
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hii prashant, u r right. it is a bearish flag
any break down from it will take us to 140 level atleast
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1118 Posted: Fri Jan 07, 2011 9:26 am Post subject: |
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girish bhaiya, noted
i will post wid charts only
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1119 Posted: Fri Jan 07, 2011 9:38 am Post subject: |
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as of now
gail/exideind/and cumminsind is following our path
others are yet to reach their bo/bd level
cummins can be shorted with a sl above bd level
exide already done all our targets
now for exide i am waiting to make a reentry. as sell on rise method
if it traces back to bd level, then only we enter or else, i cant enter in running bus
gail had made some good move, as it has strong support here, but when i am writing this, it has lost all gain and made a doji, waiting for bd to enter
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1120 Posted: Fri Jan 07, 2011 9:47 am Post subject: |
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bharti artl is figghting at bo level resistance
attached chart is of 15 min tf
as there is no divergence, i am using this chart to mkae a fast entry if possible
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #1121 Posted: Fri Jan 07, 2011 9:59 am Post subject: |
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| casper wrote: | as of now
gail/exideind/and cumminsind is following our path
others are yet to reach their bo/bd level
cummins can be shorted with a sl above bd level
exide already done all our targets
now for exide i am waiting to make a reentry. as sell on rise method
if it traces back to bd level, then only we enter or else, i cant enter in running bus
gail had made some good move, as it has strong support here, but when i am writing this, it has lost all gain and made a doji, waiting for bd to enter |
Hi Casper. What TF you areusing in this? 15 min?
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1122 Posted: Fri Jan 07, 2011 10:04 am Post subject: |
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| newinvestor wrote: | | casper wrote: | as of now
gail/exideind/and cumminsind is following our path
others are yet to reach their bo/bd level
cummins can be shorted with a sl above bd level
exide already done all our targets
now for exide i am waiting to make a reentry. as sell on rise method
if it traces back to bd level, then only we enter or else, i cant enter in running bus
gail had made some good move, as it has strong support here, but when i am writing this, it has lost all gain and made a doji, waiting for bd to enter |
Hi Casper. What TF you areusing in this? 15 min? |
no, mainly 60. For reference only , using 15 or any lesser tf
if we get a move like exide.( it went down and achieved targets within minutes) then only i will try to trade it in lesser tf to find re-entry point in retracement moves.
or else, generally will use 60 min tf
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1123 Posted: Fri Jan 07, 2011 10:08 am Post subject: |
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at this hour, we have only one trade open. this is cumminsind
it has broken down but has not moved much so i can not trail the sl. for now .i have my primary sl in place
my primary sl is ANY CANDLE CLOSE ABOVE BD LEVEL, VIZ ABOVE 756
WOW, IT MADE ANOTHER LOW. 748 NOW, WILL WE BOOK 50% HERE??
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1124 Posted: Fri Jan 07, 2011 11:40 am Post subject: |
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its my bad luck that i was unable to trade in any of your call today.. but they were good.
Is there any kind of alert we can set in forum so we can be notified when ever a new post comes.
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vishytns
White Belt
Joined: 26 Nov 2009
Posts: 206
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| Post: #1125 Posted: Fri Jan 07, 2011 11:45 am Post subject: |
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hiii
I am posting on behalf of casper as he is out for some urgent reason, he will be back in some time and will resume updating u
but the show must go on!!!!
as of now, cumminsind made a low of 741. we can book here, or can trail it for further down side. cmp 741.5
if we are to trail it, then we can keep an sl just above the weekly s1 at 745 range
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