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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: #1261  Posted: Tue Jan 11, 2011 8:36 am Post subject: |
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| technocalls wrote: | | i thing 5690 is one of the imp support for nifty. this last rally starts from 5690. nifty made low of 5690.75 on 24/11/10. this point could be 100% retracemnet of the rally.below 5690 nifty may take support of 200 dma arnd 5637. below that the next trg would be 5400. |
hi technocalls, this 5690 which we generally refer as 5700 range or simply as recent low is the hope, if it is gone then we are sure to have troubles
getting support from 200dma is not a very encouraging idea indeed. when u r at 200 dma, situation is, u have ur back on the wall, any close below this and long term down trend will start, at least in theory.
no matter how string 200 dma is, every time stock/index faces this situation, i feel a chilling sensation 
at 200 dma u have to make it or have to break it, i dont want to spread panic and get all of my brothers biased but i personally feel uncomfortable at 200 dma
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casper
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Joined: 02 Oct 2010
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| Post: #1262 Posted: Tue Jan 11, 2011 8:51 am Post subject: |
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charts for today
1. abirlanuvo= price resting on the monthly s1 at 750, any candle close below 750 is a sell and target is 730 aprox.
2.castrol= sell below 445 with a candle close and target 435
3.dishtv= already broken down. sell around 64. target 63.62.60
4.dredgecorp= dt slightly broken down, sell around 420, target 400 aprox
5.hindpetro=dt broken down, sell at 380. book around 370/350
and we need to watch out video ind also. we posted it yesterday, but it has not broken down yet
if it breaks below 410 then target will be around 405.400
one thing i am adding. dow recovered form early loss but still closed 37 pts aprox down,
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casper
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Posts: 1315
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| Post: #1263 Posted: Tue Jan 11, 2011 9:23 am Post subject: |
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given the bullish sentiments , i am watching infy now, if it could sustain above3411 then i will buy it with a sl below this level and target of 3440-3450 max
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casper
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Joined: 02 Oct 2010
Posts: 1315
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| Post: #1264 Posted: Tue Jan 11, 2011 9:46 am Post subject: |
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this market seems to be like my bank a/c, kabhi khushi kabhi gum
now watching disthv, hmmmmmmmmm
if the current candle closes below 63 which is weekly pivot i will sell it for 62/60 targets, i want the 1st 60 min candle to close
also watching abirlanuvo, 750 is monthly piv, a break below with a candle close is sell
hindpetro taken its target, but its speed was greater than mine,
i was busy lighting my cigarette when it hit the target
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casper
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Posts: 1315
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| Post: #1265 Posted: Tue Jan 11, 2011 9:47 am Post subject: |
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hey sumesh bhaiiiiiii
back from vacation or still on leave??????????????
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1266 Posted: Tue Jan 11, 2011 9:54 am Post subject: |
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GM BHAI... BHAI DISH TV BROKEN THE SUPPORT.
| casper wrote: | this market seems to be like my bank a/c, kabhi khushi kabhi gum
now watching disthv, hmmmmmmmmm
if the current candle closes below 63 which is weekly pivot i will sell it for 62/60 targets, i want the 1st 60 min candle to close
also watching abirlanuvo, 750 is monthly piv, a break below with a candle close is sell
hindpetro taken its target, but its speed was greater than mine,
i was busy lighting my cigarette when it hit the target |
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casper
Green Belt
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Posts: 1315
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| Post: #1267 Posted: Tue Jan 11, 2011 10:05 am Post subject: |
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good morning ali bhai
5 min chart has some divergence, i am waiting it to get to get up around 63 to short
in fact i want to keep minimum sl. market seems to be very volatile. yesterday we could not hold a 60pts pull back in morning. so today i am very cautious
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ali522003
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Joined: 03 Jul 2010
Posts: 217
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| Post: #1268 Posted: Tue Jan 11, 2011 10:10 am Post subject: |
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| casper wrote: | good morning ali bhai
5 min chart has some divergence, i am waiting it to get to get up around 63 to short
in fact i want to keep minimum sl. market seems to be very volatile. yesterday we could not hold a 60pts pull back in morning. so today i am very cautious |
Ok bhai please tell me wen u go short. I will wait for ur signal.
And if you trade any other trade also, please tell me
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casper
Green Belt
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Posts: 1315
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| Post: #1269 Posted: Tue Jan 11, 2011 10:11 am Post subject: |
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| yes ali bhai, i will update u
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1270 Posted: Tue Jan 11, 2011 10:20 am Post subject: |
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MRKT IS IN SHORT COVERING MOOD
please look into it before entering a short trade
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1271 Posted: Tue Jan 11, 2011 10:23 am Post subject: |
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| casper wrote: | hey sumesh bhaiiiiiii
back from vacation or still on leave?????????????? |
Hi Dear,
Good morning to you and to all of my beloved friends....
Yes I'm back today and just loged in. Enjoyed wonderful sea beach at Puri... 
Hope you guys made killing by shorting left and right in this sudden fall . That's why I love Intraday.. no tension for next day ..
I may not be able to trade for next 1-2 days, as lots of pending office jobs at hand...
Till then enjoy your trades, see you soon...
Love & regards,
-Sumesh
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1272 Posted: Tue Jan 11, 2011 10:48 am Post subject: |
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casper bhai wat to do in dish...
Standing on your shorting level..
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1273 Posted: Tue Jan 11, 2011 10:52 am Post subject: |
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| ali bhai, i am alil hesitant today, will take a position and will immediately update u
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1274 Posted: Tue Jan 11, 2011 11:05 am Post subject: |
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i am taking a risky trade, i have done nothing so far, so getting some what desperate
buying auropharma around 1310 in cash, targeting 1324
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1275 Posted: Tue Jan 11, 2011 11:07 am Post subject: |
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| wat stop you will follow in this
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