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a layman's approach to break out and break down |
singh.ravee
Yellow Belt
Joined: 12 Aug 2010
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casper
Green Belt
Joined: 02 Oct 2010
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Post: #2012  Posted: Tue Feb 22, 2011 11:25 pm Post subject: |
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its a bearish flag i think
i hv another version of nifty chart with me
according to that, 5460 and 5400 is very crucial for nifty
i think below 5400, we will have 150 pt slide
and as for 5460
today it resisted at least 3ice then finally went through, 34/89 ema in 60 min chart is there, weekly piv is also around
now due to gaddafi darling, down is going down, so tomorrow a gap down may spoil the show also
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #2013 Posted: Tue Feb 22, 2011 11:30 pm Post subject: |
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i think take home message is below (5400-5420) we may see a slide.
regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2014 Posted: Wed Feb 23, 2011 12:00 am Post subject: |
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| prasenjit wrote: | | Dada tisco and nifty ki bujhcho...... |
nifty u already got here, just writing about tisco
a failing wedge is forming which can give us an up move, at least in theory.
but 630 will be immediate resi, and if we could clear it then we can go up to 650
below 600 range (600 as monthly support level and 590 traditional support level) will be a good zone to take support
but be careful, i feel some thing is fishy in the market, some how i feel, if nifty does not go down now then it may become choppy and fall heavily after budget
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drsureshbs
White Belt
Joined: 22 Oct 2008
Posts: 58
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| Post: #2015 Posted: Wed Feb 23, 2011 12:47 am Post subject: |
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| casper wrote: | | drsureshbs wrote: | | Casper congrates on ur double century |
thanks drsureshbs
but its not mine alone, its our double century
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Casper this is one of the finest innings in icharts after i becime a member . many peoplle tried to get u out including me with tough queston .still u hit adouble ton with lot of patience ,time and class and authority of G R Viswnath
good luck and regards
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prasenjit
White Belt
Joined: 31 Dec 2010
Posts: 59
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| Post: #2016 Posted: Wed Feb 23, 2011 7:20 am Post subject: |
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| thank u dada for ur help
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drjinwala
White Belt
Joined: 13 Feb 2010
Posts: 3
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| Post: #2017 Posted: Wed Feb 23, 2011 7:47 am Post subject: |
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| I think nifty will go down as indiavix Volatality index is heading up Nifty will tumble down. Be carefull.
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #2018 Posted: Wed Feb 23, 2011 9:44 am Post subject: |
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Casper Hello,
Hope your all izz well with your eyes.
I think its a big big DT under formation in nifty 60min. Dont know how to evaluate volume aspect for index.
Kindly share your valuable comments.
thanks and regards
ravee
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #2019 Posted: Wed Feb 23, 2011 9:47 am Post subject: |
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Is it a ST or pendant in icici bank 60min.
regards
ravee
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2020 Posted: Wed Feb 23, 2011 9:57 am Post subject: |
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| singh.ravee wrote: | Casper Hello,
Hope your all izz well with your eyes.
I think its a big big DT under formation in nifty 60min. Dont know how to evaluate volume aspect for index.
Kindly share your valuable comments.
thanks and regards
ravee |
bhai, my comments are as valuable as urs or as any body else, as long as we make profit, all will be ok
in index cant compare vol, just see if it breaks down, what happens to 5 min rsi of the bd time
if it goes OS, avoid until rsi pulls back and if rsi is around 50, (in both 5 and 60tf) go ahead with bd,
and 5400 will be a trend decider indeed
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2021 Posted: Wed Feb 23, 2011 10:01 am Post subject: |
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| singh.ravee wrote: | Is it a ST or pendant in icici bank 60min.
regards
ravee |
yes, its a pennant/st
as rsi is silent about its prospect so i am aslo silent about the direction of its break 
but too much resi ahead, can go down, thats more likely
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2022 Posted: Wed Feb 23, 2011 11:10 am Post subject: Ambuja 10tf |
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Ambuja 10tf
*********
DT ..
Breaking 123.7 can take it to 122 / 121..
-Sumesh
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2023 Posted: Wed Feb 23, 2011 11:52 am Post subject: Re: Ambuja 10tf |
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| sumesh_sol wrote: | Ambuja 10tf
*********
DT ..
Breaking 123.7 can take it to 122 / 121..
-Sumesh |
Friends,
I would like to tell u my successful trade(and only one trade today) of Ambuja ...
In fact I was writing a running commentary for this as and when situation was unfolding... Just thought to share with you, may be next time u come across such trade u can apply some of the though process I underwent....
*************************
Short AMBUJA(400 qty) if 15tf is bearish candle (already top bearish nvk )
cover when STS overbought … / SL Just above top
Waiting for confirmation .. Doji candle … if next 15 tf closes before breaching high will go short...
Shorted .. Second candle was bearish candle (shooting star ..?)
Kept another(half) short below day high ..
Will book loss if 15 tf closes above day’s high… (Profit may be booked at around 122.5/123, which is earlier swing low on short term)
Shorted Half at 10 paise less than previous cdl’s high, since that was also 10 paise less that its previous one…
Wow… covered 400 shares at decided 124.1, will cover remaining 200 at pre-decided (122.5/123) or 10tf STS overbought, whichever comes early..
Hmm.. this candle (15tf) closed below daily pivot, looks weak, good for me
Forming Dt on 10tf… Put a short (half) the moment it crosses breakdown level.. Short another half after candle closes below BD level..
Goooooooooood.. Shorted both now..
Covered all at 121.6…
**********************
Cheers
-Sumesh
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drjinwala
White Belt
Joined: 13 Feb 2010
Posts: 3
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| Post: #2024 Posted: Thu Feb 24, 2011 7:35 pm Post subject: Indiavix v/s Nifty |
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| drjinwala wrote: | | I think nifty will go down as indiavix Volatality index is heading up Nifty will tumble down. Be carefull. |
Seen bloodbath in Nifty? Nifty down 146 points.
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2025 Posted: Thu Feb 24, 2011 8:17 pm Post subject: Re: Indiavix v/s Nifty |
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| drjinwala wrote: | | drjinwala wrote: | | I think nifty will go down as indiavix Volatality index is heading up Nifty will tumble down. Be carefull. |
Seen bloodbath in Nifty? Nifty down 146 points. |
congratualtion for prediction and thanks for the chart
a foolish question..... what is the relation of vix with nifty? will it go up before market fall or will it go up simultaneously with market fall?
if it moves in tandem (in opposite direction) with nifty then how a prediction can be made with it accurately?
hope u will kindly explain it
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