iCharts Discussions

[girishhu1]

hellow casperji,

similar is the case for acc, adani power. kindly give a strategy for mondays trade.
regards

[casper]

hi girishhu1,
yes its a bo and moving up nicely. but we have a resistance at 75 level, so for positional trade, we may wait to break this reistance as after breaking this tl, we will have a free space up to 90, or we may buy in installments, may be in 3 or 4 parts while keeping in mind that we need to take out this level in order to make upward.

for intraday trading, if it opens with a gap up and the start declining, we may sell it at higher level or in case of a normal opening, we may buy, all the way, we have to be careful of 75, and need to watch the price behaviour at this level and take steps accordingly
(got ur posting abt acc/adanipower, posting my reply abt them in a while,plz wait)

[casper]

acc

its an ascending triangle, the picture should be a lil different, i have posted this, now we have a target of 1150, above that we will have our saucer formation complete, so above 1150 we can expect huge upmove,

the trading strategy should be same as dishtv, we can go for installment purchase for positional trading,and in case of intraday, we have to see where it opens and take steps accordingly

ps : i have not posted the saucer formation here, only triangle is posted, i will post the full saucer formation once it takes out 1150

[casper]

hi girish, im sorry , ur posting in acc is perfect, i have messed acc with adani while opening in my j chart and so i wrote that acc picture wil b diff. but u r right, ur chart is same as my chart and both r correct

sorry for confussion

[casper]

adani power

what u posted is an descending triangle, which is a bearish pattern so it can not explian an upmove,so i have changed the picture to make it a symmetrical trangle , now we have a target of 145,150 while support at 135-140 level

[girishhu1]

casperji,
thanks a lot for immediate reply.doubts are like hanging sword on head. you feel relaxed when they are cleared.
thanks again on behalf of all newbies.
regards,
girish

[newinvestor]

Casper, what do you think of apollo tyres? Do you see a H&S forming over the past couple of weeks?

thanks for the post on H&S. Will study.

what are your picks for Monday?

[casper]

though the head part is a lil bit expanded, but i hope a break down from 70 level will surely make a head and shoulder, plz see the chart

Monday's pic is not ready yet, i will start working around 11.30-12,

(today is bhai-dunj, so im waiting in empty stomach for my sister's call ,
i will start working once i get something to eat after the rituals )

girishhu1, thanks and welcome

[vishytns]

Casper,
Symmetrical Triangle formation in weekly charts of BPCL. I request your analysis and views.
Thanks in advance for your analysis and education on various price patterns.
Vishwanath

[newinvestor]

Thanks, and all the best for your rituals.

i am holding Apollo tyres, looks like I should get out quickly on Monday.

Also, Voltas dipped on Friday . The Volumes above 250 have not been encouraging. Looks like best to exit voltas also?

[svkum]

any breakout wd be effective provided its followed consistently .
It may be on
1)breaking trendline
2)breaking certain periods HH,LL
3) breaking above certain emas , or crossover of emas anything
so be consistent and watchfull
screener shd help in locating such scrips and events.

s v kumthekar

[casper]

hi viswanath,
nice finding, as we know symmetrical triangle is a neutral pattern, so theoretically, a break out or break down anything may happen, the direction of price move will depend on the bo,

now the widest part of the triangle is about 140, (840top-700 bottom) so the possible price target would be rupees 140 from the bo point

ps: u can find a "EXPORT CHART AS PNG" tab just above the charting area of the same page where the chart is situated, it will save the chart in ur computer, u can save it this way so that u dont need to take screen shots

[casper]

hi newinvestor, thanks for ur wishes,

as far as voltas is concerned, it has faced resistance at 257-260 level and gone down, vol is low due to mahurat trading as the time was lesser,
plz watch out monday if it takes support of 250 and head back,even if it may consolidate a lil around 250.
u can hold it if it consolidate here, because there will be a chance of bounce back from this level
or u may exit here and re enter the stock if it clears 260 +filter, in that case, u will loose 5-10 rupees but the tension will be much lesser as there is no significant resistance above 260

svkum sir, thanks for ur suggestion

[vishytns]

Casper,
I have tried using "Export as PNG" to generate the chart. It generates a .php file and when I preview the post I will not see any image. So i have to take a screen shot and generate .jpg file. Once again I have taken a screen shot of IVRCL Infra (weely charts). I see that It looks like head and shoulders, could you please post your views on this also.
Thanks.

[casper]

i hv gone through this chart and in past i hv seen many of ur postings, ur findings are always superb

yes, its an exact head and shoulder. the price has moved to bo level and as per our theory, it will start going down to 130 level, the only concern is less vol, let us hope some increment in the vol here