iCharts Discussions

[casper]

[bassan]

Thanks for your valuable guidance, CASPER.

[sherbaaz]

[casper]

[singh.ravee]

casper hello,
Ref: your reply to bassan on L&T.

If i look at LT 60min tf, second last candle is doji and last candle is a tall bearish candle. Both candles are high volume. I interpret it in this way; on doji the bulls try to balance the downmove as downmove was coming close to monthly support of 1840. Very next candle the bears took over bulls and they were able to push price below 1840. The increased volume on last candle suggest the power behind the action of bears. I feel the possibility of pullback in this case is low.

Since, one of my friend is short on l&t from 1980 level, I have advised him to keep his short positon open. After reading your reply, i felt i should advise him to cover and then reenter.

Kindly clarify.
thanks and regards
ravee

[singh.ravee]

casper bhai,
is it bearish divergence on reliance in eod tf.
thanks and regards
ravee

[vishytns]

Ravee/Casper,

Word of caution in LT. We have head and shoulders broken. Retracement to break down line has not happened, so we can expect retracement to break down line 1925.

Once the retracement happens one can go short at 1925 with stop loss based on your risk. You can exit shorts and enter long positions if it sustains above break down line for atleast an hour.

I have attached the chart. Please comment.

Vishy

[casper]

one thing u know ravee that after 3.30 pm i mean after closing of our daily transaction, the institutional players and brokers have their extensive time span for 30 minutes or so(i forget exactly how many minutes they get, but they DO get this time)

for this reason, if u see in any nse /bse website after 3.30pm u will find all numbers are provisional because after this so called "auction" of big boys we get our final closing prices

now let us jump to the charts

we have closing of LT in real time charts as 1833, which has clearly closed below the monthly support of 1840, going by this,ur assumption of carrying short is correct


but if we see in daily charts, we will see the closing is at 1846, so our monthly support is intact

thats why we need a break below this 1840 to enter another short


and now if ur friend is holding this short then he can do nothing but to watch out in the morning hours of Monday to see what LT is doing


suppose i have a open short then, PERSONALLY, i would see if it is going below 1840 on Monday or not, if it is going below that or showing weakness then i would stay with my position and if i see any bounce back, then i would use the nearest resistance available as my stop loss for this short,
THIS IS JUST MY PERSONAL OPINION

[casper]

forgot to attach the real time chart, 60min tf

[singh.ravee]

casper,
thank you so much for prompt reply. 1840 is the trump card for l&t.
rgds
ravee

[casper]

[singh.ravee]

casper bhai,

i m attaching charts of infosys and reliance on 60 min tf showing divergence, If I have spotted it right. Although the action has happened, however divergence as a trading tool can be used for any future trade.

Sharing this with you just to express my thanks to you, for making me aware about this trading tool.

rgds

ravee

[casper]

[casper]

[mrvishal_g]

Hi Casper,

What is your opinion on following:

SAIL 179--------SELL BELOW 177 (ST BD)
IDFC 168.9.........BUY DUE TO ITS FRIDAY CANDLE and SUPPORT NEAR 165

INDIABULLS REALESTATE 125......IT RETURN BACK TO 125 AFTER MAKING HIGH 140, IS IT STILL NVK SETUP OR NOW IT LOOKING DT MORE

VISHAL