iCharts Discussions

[casper]

[casper]

[singh.ravee]

casper,
i think kolkata is also a hub of technical analysts. I know few ppl who provide real time data feed based in kolkata. Today i came to know that u r from kolkata only.

According to me risk is a perception not a realty. Like on friday, i found shorting nifty @ 5800 easy and one of a friend find it risky. We may be looking at same thing, however our perception can vary significantly. I feel those who can rely upon their technical trading system, inspite of the fact that risk is high, they will be successful. Its easier said than done. Something similar to going out for a job in storm.

SL pt for itc is agreeable. I dont know how to calculate tgts for divergences. May be any of the method suggested by you will do.

Few charts that i saw today;
1. Sesagoa - double top in formation; neckline = 320; if broken then tgt = 300

2.tcs - cmp= 1120 bearish divergence in both daily as well as weekly charts.

Looking at all the charts i could see bearish activities. From where the strength will come in market. Lets see from monday onwards.

One more thing, 60min time frame is too good to trade.

Thanks and regards
ravee

[casper]

[Ravi_S]

Casper... Nice initiative...

Uptrend : Price forming higher highs...
Downtrend : Price forming lower lows...

Regards
Ravi

[MANUBINDRA]

when scrip maintain its supports levels in case of uptrend, and resistance level in case of downtrend.

regards

M.Bindra

[chetan83]

Dear All,

Do we have the GTC facility in NSE trades? (as we have in MCX for commodity). By this facility, if we put a buy or sell order under GTC facility with the Limit price mentioned then the same is valid for that entire future period or till the time it is executed (whichever comes early). {For 27the Jan contract, same will be valid till 27th Jan or till the time trade is executed}.

This is available in MCX, I dont know whether it is in NSE or not.

Members can reply.

[Ravi_S]

Some good candidates for Tomorrow all 60 mins chart

Regards
Ravi

[casper]

so i got only 3 answers to my question????

i think nobody has taken it seriously. and among the three replies, only ravi bhaiya is correct, and he is much more senior trader than me, so it is expected from him also


now the definition of uptrend is the stock is forming higher low and higher highs

and the definition of downtrend is stock is forming lower lows and lower highs

now let me come to the point why i asked u about the definition

1. when u buy some stock, u expect it to be in uptrend, means u expect it to make higher highs and higher lows

2. when u short a stock, u expect it to be in down trend, means making lower highs and lower lows

i am sorry that to day i have no real time chart to show u as my subscription is expired, but i would like to post the ongc chart i already posted,( i only hv ongc chart with me, rest all are already deleted)

i am requesting all to verify what i am going to write with any of ur charts showing up trend and down trend

in fact i wanted to discuss the method of trailing stop i follow, as i have wrote to ravee that the reason of the trade is the sl

going by that idea, a stock is a buy as long as it maintains uptrend, and a stock is a sell as long as it is in down trend
(i am not talking about sup/resi levels now)

let us keep a trailing stop at the previous low or low of previous candle (depending up on ur aggressiveness) for a long trade in any tf

and let us keep a trailing stop at the previous high or high of previous candle for a short trade in any tf

in case of a long trade, when the price breaks the previous low by making lower low we are stopped out and trend is also reversed itsel;f by making a lower low in an uptrend

in case of a short trade, when the price breaks previous high, we are stopped out and trend is also reversed as it made higher high


in my opinion, trailing sl is meant for hit only, personally i always like to be trailing stopped out than merely square up, coz effective trailing will give us most of the juice the stock contains, off course it need some practice but it pays

u can keep it by a candle close also, even if u have strong control on ur mentality and quite ruthless while trading, then u dont give the order, keep it in ur mind, and if this get breached sell it without looking any way

then again, if u have a reason to buy, then buy again

at least in this way, u wont end up losing like hell

by da way, dont jump with joy and start playing with it in real market, find time to do some paper trades with it and if u see ifs good,u can use it always,
if some thing more interesting is in ur mind, then try to refine this also

i find this method is use full, when u r very sure of the trend, u can keep sl of previous candles high/low with some cushion

if u r not that aggressive then go by previous top or bottom levels also



in the attached chart of ongc, if u were following this method then u had chance to get stopped out at least twice, but i think with some money, u wont made any loss then

by da way, i have fever, plz dont mind if i have made any mistake while writing this





















:

[singh.ravee]

casper hello,
wish u a speedy recovery.
rgds
ravee

[singh.ravee]

hi,
is it a bullish divergence in bank nifty.
rgds
ravee

[Ravi_S]

Bullish or Bearish divergence best work when RSI is in the Oversold / Overbought zone... Here RSI has crossed 50 and came back... So I think this should not be effective..

Regards
Ravi

[singh.ravee]

Ravi_s
thank u so much for ur prompt response on bnf
rgds
ravee

[rohit44]

Can someone will tell about hindalco movement with charts, i like to create a short position, i m newbie and non technical...learning something from you all guys.....RGDS

[singh.ravee]

Hindalco cmp= 224.85
50 ema support is negotiating with price. monthly pivot point support = 220. In short this zone of 220-225 may provide a good support to the stock as of now.
If u wish to go short then below 220 will offer good opportunity.
thanks and regards
ravee