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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: #181  Posted: Tue Nov 09, 2010 8:18 pm Post subject: |
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hi new investor, i have replied this question earlier , it was asked by syndicate trader, im just copying  that reply since situation has not changed yet, (hope u wouldn't mind)
however, the chart im posting now is an updated version of what i posted earlier (sunday)
"in case of icsa, we have a strong resistance level around 150-153, it has blocked the price movement for at least 7 times in past and its a flat line, so the ability to resist the price here will be maximum,
so in my view, we can take long position if this level is breached with increased vol. then we will have a clear path up to 190 with a mild resistance at 185"
if u need to know any thing more, plz feel free to ask
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #182 Posted: Tue Nov 09, 2010 8:31 pm Post subject: |
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| anand1234 wrote: | hi...........casper
....I bought hocl @59..........&................ dwarkesh@119..........both r so down ...............any reson??..............how long shd I hold??...........pls guide me
thanks
anand |
hocl opened at 53.80, made a high of 61 something and closed 57 some thing, i think after a huge gap down it recovered strongly, so i think it did well
in case of dwarkesh, the price is consolidating at the bo level, this kinds of phenomenon is quite common in break outs particularly rounding bottom or cup and handle case,
while writing the general description u may remember that i wrote in case of this kinds of pattern, price does not move in 80-90 degree, it takes a sloppy move say 45-60 degree, means price moves slower than other type of bos
the three patterns i posted were not for intraday trade, (i thought those who follow this thread know that break out are short to mid term buy, or else i would post the time frame for sure, now on i will surely write the time frame, without fail)
in these two cases, u may need to hold for 7-15 days (in fact i strongly feel that it should achieve the target wid in 7 days, but then, now a days we dont have a very good market condition, so adding another 7 days as precaution)
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #183 Posted: Tue Nov 09, 2010 9:19 pm Post subject: |
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| casper wrote: | hi new investor, i have replied this question earlier , it was asked by syndicate trader, im just copying that reply since situation has not changed yet, (hope u wouldn't mind)
however, the chart im posting now is an updated version of what i posted earlier (sunday)
"in case of icsa, we have a strong resistance level around 150-153, it has blocked the price movement for at least 7 times in past and its a flat line, so the ability to resist the price here will be maximum,
so in my view, we can take long position if this level is breached with increased vol. then we will have a clear path up to 190 with a mild resistance at 185"
if u need to know any thing more, plz feel free to ask |
Thanks, I had missed your earlier post
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bharatsabharwal
White Belt
Joined: 27 Jun 2010
Posts: 9
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| Post: #184 Posted: Tue Nov 09, 2010 9:27 pm Post subject: hi casper |
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hi casper
sir what about punjlloyd
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #185 Posted: Tue Nov 09, 2010 9:50 pm Post subject: |
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| newinvestor wrote: | | casper wrote: | hi new investor, i have replied this question earlier , it was asked by syndicate trader, im just copying that reply since situation has not changed yet, (hope u wouldn't mind)
however, the chart im posting now is an updated version of what i posted earlier (sunday)
"in case of icsa, we have a strong resistance level around 150-153, it has blocked the price movement for at least 7 times in past and its a flat line, so the ability to resist the price here will be maximum,
so in my view, we can take long position if this level is breached with increased vol. then we will have a clear path up to 190 with a mild resistance at 185"
if u need to know any thing more, plz feel free to ask |
Thanks, I had missed your earlier post |
i had posted it in another thread,called "what will be itc move from here" i got a few questions there, basically non bo trading questions, as u follow here u might have missed this
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #186 Posted: Tue Nov 09, 2010 10:04 pm Post subject: Re: hi casper |
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| bharatsabharwal wrote: | hi casper
sir what about punjlloyd |
it could not sustain above 130 and closed at 129.40, thogh the pattern is intact and may rock tomorrow, but we need to sustain above 130.
PLZ DO NOTE THAT, THOUGH AT TIMES, BO TARGET MAY ACHIEVE IN A SINGE TRADING DAY, BUT MOSTLY IT IS A POSITIONAL TRADE. IN CASE OF POSITIONAL TRADE, WE DEPEND ON CLOSING NOT PENETRATION. PRICE MAY PENETRATE A SUPPORT/RESISTANCE LEVEL FOR VARIOUS REASONS BUT NO POSITION CAN BE TAKEN WITHOUT A CLOSING(EVEN AT TIMES,SPECIALLY FOR BIG TARGET BO, WE ADD FILTER ON THE CLOSING TO VERIFY) SO PLZ TAKE A POSITION ONLY BY CLOSING
even in case of a day trading using a real time data say 5 min time frame, there also, we can take position by closing a 5 minute candle, so in general, which ever time frame u use for trading, ranging from 30 second tf to monthly chart, always follow the closing price of the candle to determine a trade
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thegani
White Belt
Joined: 03 Nov 2010
Posts: 21
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| Post: #187 Posted: Wed Nov 10, 2010 1:45 pm Post subject: How to find stock which are near breakout |
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| Dear sir please provide me screener setting to find out the stock which are nearer to breakout
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #188 Posted: Wed Nov 10, 2010 5:52 pm Post subject: Re: How to find stock which are near breakout |
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| thegani wrote: | | Dear sir please provide me screener setting to find out the stock which are nearer to breakout |
there is no such screener available, plz click on the stock list option of the left side of the web page, select price vol expansion link, and u will get stocks with possible bo case, from there u have to pick up manually by drawing trend lines to confirm the pattern
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #189 Posted: Wed Nov 10, 2010 8:49 pm Post subject: |
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| newinvestor wrote: | One of my friends told me that his Broker is recommending ICSA.
When I checked the 3 yr charts, it seems like waiting for a big break out.
What do you feel? |
today icsa touched 155, but could not sustain, closed at 151.90 plz wait up to 154 by closing before taking a position there
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #190 Posted: Wed Nov 10, 2010 8:54 pm Post subject: Re: How to find stock which are near breakout |
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| thegani wrote: | | Dear sir please provide me screener setting to find out the stock which are nearer to breakout |
hope i m not breaking forum rules...broker reliance money provide a list of such trends. Only their demat ac holders can get their service...
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #191 Posted: Wed Nov 10, 2010 9:11 pm Post subject: Re: How to find stock which are near breakout |
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| chrome wrote: | | thegani wrote: | | Dear sir please provide me screener setting to find out the stock which are nearer to breakout |
hope i m not breaking forum rules...broker reliance money provide a list of such trends. Only their demat ac holders can get their service... |
hiiii big boss!!!!!
u r always welcome, i personally always highly appreciate ur works, be it break out thread,or stoch39 or perfect ema, but now a days u dont post perfect ema any more  ,
thanks for the information, plz feel at home here
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chrome
Yellow Belt
Joined: 28 Dec 2009
Posts: 645
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| Post: #192 Posted: Wed Nov 10, 2010 9:48 pm Post subject: Re: How to find stock which are near breakout |
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| casper wrote: | | chrome wrote: | | thegani wrote: | | Dear sir please provide me screener setting to find out the stock which are nearer to breakout |
hope i m not breaking forum rules...broker reliance money provide a list of such trends. Only their demat ac holders can get their service... |
hiiii big boss!!!!!
u r always welcome, i personally always highly appreciate ur works, be it break out thread,or stoch39 or perfect ema, but now a days u dont post perfect ema any more ,
thanks for the information, plz feel at home here |
Hi casper,
oblized for such a warm welcome !! Thanks for appreciation....would definately continue my other threads as mentioned in ur post, for sure..also would like to appreciate ur effort to take breakout strategy to next levels alongwith strong technical supportives...
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #193 Posted: Wed Nov 10, 2010 10:05 pm Post subject: |
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| casper wrote: | | newinvestor wrote: | One of my friends told me that his Broker is recommending ICSA.
When I checked the 3 yr charts, it seems like waiting for a big break out.
What do you feel? |
today icsa touched 155, but could not sustain, closed at 151.90 plz wait up to 154 by closing before taking a position there |
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #194 Posted: Wed Nov 10, 2010 10:18 pm Post subject: |
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Hi Casper,
Actually i dont know how to comment on other post as just you write on ICSA, i tried but failed. Please explain.
Casper i would like to confirm the following bcoz i m interested in buyin a lot in F&o in one the following
ICSA, how much apx time ICSA will take to archieve target-185-190 if it close above 154.
Educomp is trading between 550-630 from last 3-4 months and now it is 563.8 chances are bright that it will touch atleast 610-620 in coming days with a stop loss of 545. What is your view on it.
or give me a stock of F&O to trade(long or short)
I have 1 lot of HCC @63.5 today it break it major resistance of 65 and close at 66 (66.55 in f&o) suggest me what to do with it, i looking for a target of 70-72
Vishal
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #195 Posted: Wed Nov 10, 2010 11:01 pm Post subject: |
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| casper wrote: | | newinvestor wrote: | One of my friends told me that his Broker is recommending ICSA.
When I checked the 3 yr charts, it seems like waiting for a big break out.
What do you feel? |
today icsa touched 155, but could not sustain, closed at 151.90 plz wait up to 154 by closing before taking a position there |
Ok, Casper . Noted. Thanks
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