iCharts Discussions

[ali522003]

[technocalls]

hi casper,
today coal india fail to close abv 300.i thing good support was broken....does the stock fall further..?????how to claculate trager and SL where less data is avlble..

one more thing i want to ask u what is rising wedge and folling wedge ???? have u explain it in any of ur prvs post???....if not then plz explain it when ever u get time.

regards,

[technocalls]

hi again
i want to share u and ask u abt two stocks

colpal - its AT .... i m not good in trget and SL in trigles so casper will help

glaxo- i thing stock might be in troble blow 2177. help....

[casper]

glaxo

it has some strong support around 2162-2169, both weekly and monthly s1 are present here, we will have a good move only below this level,watch for a bd with volume, a less volume bd might be a trap also

once broken, it will gradually come down around 2000 level, not only for glaxo, for every pattern, we have to measure the widest part of the pattern and project it from the bo point for up/downward for bo/bd respectively

it ill give us a rough idea of the target, which will be met in due course, but, being a day trader, i can not expect it as a target as i have to finish my trades within 3 pm, so personally, i use monthly/weekly piv or 34/89ema as my target as these levels are good sup/resi level which can not be crossed in intra time frames


colpal


it was some what an AT, but look at the candle i have marked in the chart, it was supposed to be the bo candle, but unfortunately, it opened with a gap up and could not hold it and came down

u may remember that many time i have written in past that during a gap up, going down is likely and during a gap down, a pull back is always expected

so, see here just the same has happened, it went down to bo level as it was the nearest support to hold

but i dont regard this pattern as a perfect one as u can see u have too much spike and dozi candles which shows uncertainty, means traders are not confirmed about what they were going to do, they want to go up, thats why candle are green but the market condition is going against them so they are fearful to be more aggressive

and it does not fit in a few other parameters also, which i will tell u after the market hour as that will need a detail study of AT with candle to candle analysis, so plz be patient




coalindia

if i could attach the channel part with the big green candle, marked with a up-arrow, i wud have considered it as a potential bull flag and wud have predicted a possible break out above 315 level, but we could not attach it, so its not a flag case, we have a channel here


so let us check what we have in our chart now


1. we have weekly support at the lower end of channel

2. we have monthly support at the same stage

3.we have lower tl support too

so breaking below this level wud be tough, but once broken with considerable volume, it will go down at least 23 rupees which is the width of the channel

same goes for an upside bo too, suppose it take support here and goes up and breaks the upper tl, then we will have a 23 rupees target in upside too


always remember that these targets are aprx target, when i say 23 rupees target, i personally wud be ready to book at within 15-20 rupees, just to play it safe


and i have not described rising/falling wedge yet, lack of suitable chart is the problem here as wedge is the most difficult part to identify in t.a

it some what looks like an at or pennant in case of risings one, but gives break down and generally found at the end of a bull market. for falling wedges, it form in a mature bear market to show u a possible upside break out, but it looks like a dt or a pennant some what.

i will describe it in details , but frankly speaking, though i have some exp in finding and trading rising wedge, but i , myself have to study a few charts to find out a falling wedge as wedge does not have a specific shape like other patterns

[ESNMURTY]

Dear Sumeshji, what is the stoploss for tatapower shall we hold or exit.......................

[sumesh_sol]

[sumesh_sol]

CIPLA 15TF

Below 305 ,, it can reach 302...

[ESNMURTY]

Sumeshji, I think that a move past 1218 and 1228 should bring back the momentum in the stock

[sumesh_sol]

[sumesh_sol]

[sumesh_sol]

Recltd 60tf
***********
Trading at bottom of last swing..
I will go short below 234.5 . Downside looks very good ,, On EOD it is around 221-225(weekly as well as monthly supports)..

Let's see how it goes...

-Sumesh

[Ravi_S]

DT in NF... Also trading below Daily S1... One can go short for at least 50 points... SL 5250... Also it's trading just below monthly S1...

Regards
Ravi

[anand1234]

hi..........sumesh

can I buy dlf @237 - 238 in this range??.......for delivery??........looks good..........if so pls guide me for tgt..........

thanks
anand

[sumesh_sol]

[sumesh_sol]