iCharts Discussions

[casper]

[ESNMURTY]

Thanks , Casper

[casper]

[singh.ravee]

casper
is it a dt in bharti artl 15min
thanks and regards
ravee

[casper]

[capsi]

hi casper

yes, our ids r quite similar and if i'm not wrong u r from Calcutta, me too.

[casper]

[capsi]

aami srikanta
arr tumi thik ache, apni-ta barabari hoye jabe!

[ridinghood]

Hi casper brother
again bothering u with ranbaxy.how does it look now with results on 22/02 and fno expiry close by?
thnx in advance
regs
ridinghood

[casper]

[drsureshbs]

Dear casper thanks for ur reply.

regards

[ragarwal]

dear casper,thnx fr ur reply

[casper]

welcome rashmi and drsureshsbs!!


hii technocalls

i remember i borrowed some time from u in the early part of this week, so i am paying u back now,

here is ur 1st installment.... Broadening Top


what is in the chart?



in chart we will see that a series of higher highs and same or lower low, all highs are with good volume and its coming down to form same or lower low with less volume, sounds like pretty uptrend

but the same or lower low (mind u, no higher low at all!!) will be annoying to an experienced trader

the total pattern will look like a horn of a gramophone/megaphone hence the name is derived


when happens in reality


in reality, we will see this pattern mostly during late or extreme bull phase, when best investors are out to vacation with the money they already earned, experienced traders are planning to start shorting and peoples like me and u are planning to make fresh investments!!!



what happens during this phase?

u know ever body has his definition of things? even i have my definition of uptrend.

the phase of the market, when the most idiot guys like me will regard themselves as a super investors, is the true uptrend for me!!!




so what is happening? a folk of fools, without any idea of what does the term stock market means, are jumping in the market, with too anxious mind, they have to buy now!! they must buy now!!! its a sort of panic buy, as if they could not buy now, they will miss all the bull run, is going on in the market

this is the reason of making higher highs but as this buying is neither supported by fundamentals nor by technicals, so that will not provide the higher lows, which are also an important signal of a true uptrend

but the self proclaimed super investors are not bothered at all by the fact, some Micky mouse in TV is saying buy more, we will see 7000 in nifty and all of the peoples in the market are too wise traders..... who bothers about such silly things like technicals??


what happens at the final top?


price reached the final top with some euphoria buying by small time peoples, then after hitting the upper trend line,starts declining, initially with less volume as peoples are still in buying mood and professionals are still out of market

then price reaches the support line and this time it declines, volume surged like a high tide, a heavy, deadly painful fall comes, ending the uptrend for now



target projection and trading idea

first of all, whenever u find this pattern and some what get a confirmation, stay away from all the investments u have, its the time for profit booking for u.if it is developed, market is almost sure to react

the fall will come as per the time frame where u got the pattern
(u might remember, for a few days i was shouting that we have broadening tops in real time charts, being in lesser tf, fall is not that cruel so far, but we have a fall, which, i still believe is the end of this pull back for some time, only some good fundamental news can give us some reason to surge ahead or else.......)


according to me, the best idea is to short below the support break down and keep a sl above the broken support level

though its tough to project a target as its developed over some mad buying, still u can project the width of the pattern for an approximate target


below are a few charts, which vishy and me found out as early as early October, in that time, every one was in buying spree, but i think, only we two mads were planning to start shorting once it breaks the support levels

these are past charts,showing u as and when we found them, u can easily find out what happened next, bcoz the result is the history now

so this was ur BT, now give me some time plz, i will repay u that rising/falling wedge soon


any more question?? u r welcome as always

[prasenjit]

Dada, nifty ki abar nije jabe naki......breakdown next week after friday fall......

[vishytns]

Dada, prince of calcutta....