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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: #1336  Posted: Wed Jan 12, 2011 9:26 am Post subject: |
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i am watching exide, bajajhldng, hdfc and nifty
if nifty holds 5789 then we will be above weekly pivot we have red candle in nifty 60 min chart, so watching out this
bajaj is facing resi at 89 ema in 5 min chart around 779. will enetr above 780 or at lower levels
exide my entry should be around 150
hdfc iwant 662-661 all in cash
no position yet
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1337 Posted: Wed Jan 12, 2011 9:29 am Post subject: |
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| casper wrote: | i am watching exide, bajajhldng, hdfc and nifty
if nifty holds 5789 then we will be above weekly pivot we have red candle in nifty 60 min chart, so watching out this
bajaj is facing resi at 89 ema in 5 min chart around 779. will enetr above 780 or at lower levels
exide my entry should be around 150
hdfc iwant 662-661 all in cash
no position yet |
I'm also looking at hdfc,
do post wat evr u buy
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1338 Posted: Wed Jan 12, 2011 9:36 am Post subject: |
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| bought hdfc at 667 cash sl a close below 661
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1339 Posted: Wed Jan 12, 2011 9:37 am Post subject: |
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| ali bhai buy on retracement around 666-665 in cash, but i small lots dont buy multiple at atime, we are yet not out of woods
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1340 Posted: Wed Jan 12, 2011 9:40 am Post subject: |
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| casper wrote: | | ali bhai buy on retracement around 666-665 in cash, but i small lots dont buy multiple at atime, we are yet not out of woods |
Oh i bought 1 lot at 668
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1341 Posted: Wed Jan 12, 2011 9:47 am Post subject: |
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| ali522003 wrote: | | casper wrote: | | ali bhai buy on retracement around 666-665 in cash, but i small lots dont buy multiple at atime, we are yet not out of woods |
Oh i bought 1 lot at 668 |
ok no prbs, see in ur web terminal, it has open=low, our sl is below that, but this open=low price will give us some strength, if by any means it makes any new low (god forbid) then we should be ready to sell it on rise and get at least our cost price back
in this market, we have bounce back in lower levels and upper levels is not sustained i am really not comfortable with it
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1342 Posted: Wed Jan 12, 2011 10:13 am Post subject: |
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casper hello,
is it bullish divergence in nifty 60min. If yes, then probable tgt and sl.
thanks and regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1343 Posted: Wed Jan 12, 2011 10:17 am Post subject: |
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i see strong support around this level in 5 min tf so i am holding it. support level is 659. we have both ema and weekly support here
i will sell if it breaches in 5 min or a 60 min candle CLOSE below this level
now averaged my position
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #1344 Posted: Wed Jan 12, 2011 10:23 am Post subject: |
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sing.ravee
Bullish divergence has already been taken care of in yesterday's last candle... So beware... Dont' trade this set up now..
Regards
Ravi
| singh.ravee wrote: | casper hello,
is it bullish divergence in nifty 60min. If yes, then probable tgt and sl.
thanks and regards
ravee |
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1345 Posted: Wed Jan 12, 2011 10:28 am Post subject: |
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| casper wrote: | i see strong support around this level in 5 min tf so i am holding it. support level is 659. we have both ema and weekly support here
i will sell if it breaches in 5 min or a 60 min candle CLOSE below this level
now averaged my position |
i too took one more lot with the stop of 658.5
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #1346 Posted: Wed Jan 12, 2011 10:32 am Post subject: |
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ravi_s,
thank you so much for your prompt reply. i read ur entire thread on "trading divergence". It was quite useful. Please keep the thread alive. It will be of great help.
thanks and regards
ravee
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1347 Posted: Wed Jan 12, 2011 10:34 am Post subject: |
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1348 Posted: Wed Jan 12, 2011 10:34 am Post subject: |
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| ali522003 wrote: | | casper wrote: | i see strong support around this level in 5 min tf so i am holding it. support level is 659. we have both ema and weekly support here
i will sell if it breaches in 5 min or a 60 min candle CLOSE below this level
now averaged my position |
i too took one more lot with the stop of 658.5 |
even tht is under fire
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1349 Posted: Wed Jan 12, 2011 10:37 am Post subject: |
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waiting for 5 minutes
to close the current candle
will have to face HUGE loss now
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1350 Posted: Wed Jan 12, 2011 10:44 am Post subject: |
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| casper wrote: | waiting for 5 minutes
to close the current candle
will have to face HUGE loss now |
Hi Casper,
HDFC is moving in this channel (on 60 tf).. I'm just trying to give another perspective, please use your judgement...
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