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a layman's approach to break out and break down |
vishytns
White Belt
Joined: 26 Nov 2009
Posts: 206
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Post: #1126  Posted: Fri Jan 07, 2011 12:05 pm Post subject: |
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hdfc bank
a head and shoulder pattern
already broken down and due to positive divergence, its testing bd level again
the bd level is monthly pivot, we will sell it once its get rejected from pivot level again
sl will be a close above monthly pivot in hourly chart
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1127 Posted: Fri Jan 07, 2011 12:09 pm Post subject: |
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| bhai i again request you to please post the values also.its hard to find the mentioned value on charts as we are new here
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vishytns
White Belt
Joined: 26 Nov 2009
Posts: 206
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| Post: #1128 Posted: Fri Jan 07, 2011 12:16 pm Post subject: |
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| ali522003 wrote: | | bhai i again request you to please post the values also.its hard to find the mentioned value on charts as we are new here |
sell with sl above 2302
this is monthly pivot
cmp is 2285.u can sell here or else, wait for some time if price goes up to 2300 aprox, then u can sell
and sorry ali. casper is away i am posting on behalf of him, he will be back soon 
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1129 Posted: Fri Jan 07, 2011 12:18 pm Post subject: |
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| no problem vishy bhai
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1130 Posted: Fri Jan 07, 2011 12:32 pm Post subject: |
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| vishytns wrote: | 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 |
hiii anna. thanks for ur support
this is called jugalbandi
now we have hdfcbank in our hand, yes, strong positive divergence is seen, price will retrace to pivot level before going down
those who are already short here,can keep an 60 min candle close above 2300 as ur sl
those who are yet to short it can wait for a break down after touching this level
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1131 Posted: Fri Jan 07, 2011 12:36 pm Post subject: |
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our good old nifty is taking monthly pivot support at 6000
we have some positive divergence in 5 min tf an din 5 min tf it looks like a double bottom movement. above 6000. it can give us a 20 pts up move, so better be careful bears!!!!
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1132 Posted: Fri Jan 07, 2011 12:56 pm Post subject: |
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| wat tgt u look in hdfc bank
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1133 Posted: Fri Jan 07, 2011 1:03 pm Post subject: |
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2270-2260 max
it made a low of 2270 already. but for those who have shorted now , i mean after touching pivot at 2299 in last candle, i expect 2270 again
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1134 Posted: Fri Jan 07, 2011 1:10 pm Post subject: |
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just to confirm,, all levels are for intraday ??
| casper wrote: | 2270-2260 max
it made a low of 2270 already. but for those who have shorted now , i mean after touching pivot at 2299 in last candle, i expect 2270 again |
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beowulf
White Belt
Joined: 18 Aug 2010
Posts: 163
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| Post: #1135 Posted: Fri Jan 07, 2011 1:11 pm Post subject: |
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How do you advise we play the Nifty right now. Its taking good support at 6000 but testing it continuously. The bears seem to have the upper hand.
Any insight will be useful..How do we decide what position to take by EoD..
Thanks,
Beo
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1136 Posted: Fri Jan 07, 2011 1:15 pm Post subject: |
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| ali522003 wrote: | 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. |
during registration, we have to submit an email id
whenever we post in any thread, we get an email alert in our id for all future replies/postings (made by whomever) in that thread
so u can check that
or else, stay logged in here, and refresh the page time to time. as i am trying to provide candle to candle update and mostly i use 60 min candles. so if u check in every hour, probably u will get the update
generally i post my initial calls(like which stocks to looks for) either late at night or around 9 am before trading
then which gives me desired move, i will update that only
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1137 Posted: Fri Jan 07, 2011 1:16 pm Post subject: |
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casper hi,
today u seems to be doing gr8.
I need to understand 2 things from you.
1. u normally refer to positive divergence. what is it and how to use it?
2. Is single candle closing above/below bo/bd level, sufficient to ascertain that sl is hit?
thanks and regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1138 Posted: Fri Jan 07, 2011 1:18 pm Post subject: |
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| ali522003 wrote: | just to confirm,, all levels are for intraday ??
| casper wrote: | 2270-2260 max
it made a low of 2270 already. but for those who have shorted now , i mean after touching pivot at 2299 in last candle, i expect 2270 again |
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yes
only if we sit with good profit then we can carry it
i rarely carry my loss. and short cash calls can not be carried, if u r trading with future then only u can carry it. my levels are cash levels
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1139 Posted: Fri Jan 07, 2011 1:32 pm Post subject: |
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| singh.ravee wrote: | casper hi,
today u seems to be doing gr8.
I need to understand 2 things from you.
1. u normally refer to positive divergence. what is it and how to use it?
2. Is single candle closing above/below bo/bd level, sufficient to ascertain that sl is hit?
thanks and regards
ravee |
ravee divergence needs a little in depth discussion. for now, u can see ravi sir's thread, he wrote in details in past. i will write after ig get some lil time
and as per level /sl breaching
suppose i am buying with a green candle above the monthly and other wise
favorable condition
now due to any reason, price goes down and closes below the pivot level
now we already know that pivot levels are strong levels, so that strong levels which were supporting my action, will now resist my upmove
and being it a strong level,it will be very hard for the price to breach again it and come up of it
so either price will get choppy below that level or more likely is, price will have a free fall as i will sell, u will sell, all of the indina market traders, those who uses pivot levels will sell(pivots are no secret, its widely popular among the trader)
some will sell as a rule of their trading system, some will sell automatically as the sl will be breached. and some body like me will sell in panic
so over all, after breaching a level. supply will be greater and price will fall for sure. this i wrote about a buy call
same goes for a sell call also
in that case, we sell at resistance and if that resistance is breached then demand will be more, bcoz now trader will use that resistance as their new support, so this higher demand will make price higher
so our sell call will make enormous loss if we dont regard this levels very carefully
for divergence
check ravi sirs article in this link
http://www.icharts.in/forum/trading-divergences-t2170,postorder,desc,start,70.html
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1140 Posted: Fri Jan 07, 2011 1:34 pm Post subject: |
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sorry guys
was busy in replying so could not update u
our hdfcbank darling made a low of 2276, now trading at 2280, we could book some of our bulks there
but no point to blame on luck now
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