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a layman's approach to break out and break down |
sangi
White Belt
Joined: 19 Jan 2008
Posts: 69
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Post: #2956  Posted: Sun Nov 20, 2011 4:41 pm Post subject: hcltech-30m |
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Sumeshji,
I hv attached hcltech-30m chart? Is this a proper DT? Pl. comment and correct.
Rgds,
Sangi
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #2957 Posted: Sun Nov 20, 2011 5:12 pm Post subject: Re: hcltech-30m |
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| sangi wrote: | Sumeshji,
I hv attached hcltech-30m chart? Is this a proper DT? Pl. comment and correct.
Rgds,
Sangi |
ur lower tl is not so good, it should be retested more often to show that a support (viz buying) is coming from that tl, besides u hv divergence not only in 30 min but also in 60 min too,
so over all i feel it will go up if it breaks the upper tl
BE CAREFUL FOR + DIV IN DT AND - DIV IN AT....... ALWAYS
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2958 Posted: Sun Nov 20, 2011 8:45 pm Post subject: Re: hcltech-30m |
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| casper wrote: | | sangi wrote: | Sumeshji,
I hv attached hcltech-30m chart? Is this a proper DT? Pl. comment and correct.
Rgds,
Sangi |
ur lower tl is not so good, it should be retested more often to show that a support (viz buying) is coming from that tl, besides u hv divergence not only in 30 min but also in 60 min too,
so over all i feel it will go up if it breaks the upper tl
BE CAREFUL FOR + DIV IN DT AND - DIV IN AT....... ALWAYS |
Casper bhai very correct, one must always pay attention to RSI in proper perspective..
Sangi, if u see my attached chart (60tf), you can see hcltech is clearly in downtrend after breaking down TL, however, there will always be some retrace back in such BO/BD cases, so if you want to short then try on rejection of 26 or 34 ema on hourly with SL of high of candle ...
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2959 Posted: Sun Nov 20, 2011 9:09 pm Post subject: BAJAJ-AUTO |
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BAJAJ-AUTO..eod...
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Appears to be taking support on monthly pivot, if breaks and closes below it , then downside could be 1600/1550 !
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nsinojia
Yellow Belt
Joined: 21 Dec 2009
Posts: 624
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| Post: #2960 Posted: Sun Nov 20, 2011 9:16 pm Post subject: Re: BAJAJ-AUTO |
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| sumesh_sol wrote: | BAJAJ-AUTO..eod...
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Appears to be taking support on monthly pivot, if breaks and closes below it , then downside could be 1600/1550 ! |
 
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sangi
White Belt
Joined: 19 Jan 2008
Posts: 69
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| Post: #2961 Posted: Sun Nov 20, 2011 10:03 pm Post subject: Re: hcltech-30m |
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| sumesh_sol wrote: | | casper wrote: | | sangi wrote: | Sumeshji,
I hv attached hcltech-30m chart? Is this a proper DT? Pl. comment and correct.
Rgds,
Sangi |
ur lower tl is not so good, it should be retested more often to show that a support (viz buying) is coming from that tl, besides u hv divergence not only in 30 min but also in 60 min too,
so over all i feel it will go up if it breaks the upper tl
BE CAREFUL FOR + DIV IN DT AND - DIV IN AT....... ALWAYS |
Casper bhai very correct, one must always pay attention to RSI in proper perspective..
Sangi, if u see my attached chart (60tf), you can see hcltech is clearly in downtrend after breaking down TL, however, there will always be some retrace back in such BO/BD cases, so if you want to short then try on rejection of 26 or 34 ema on hourly with SL of high of candle ... |
Casperji/sumeshji,
Thank u very much! you both are doing an excellent job by guiding the beginners like me. So kind of u 
regds,
Sangi
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sangi
White Belt
Joined: 19 Jan 2008
Posts: 69
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| Post: #2962 Posted: Mon Nov 21, 2011 1:01 pm Post subject: |
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Sumeshji,
pl. comment on the chart of cipla-15m. Is is a valid ST?
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #2963 Posted: Wed Nov 23, 2011 12:39 pm Post subject: INDUSINDBK |
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INDUSINDBK..60tf
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Identified by nitin sir using his method of 12/26 crossover..
I saw one DT pattern, so posting here for everyone's benefit..
If closes below 245 on hourly can give 10 rs fall..
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S.S.
White Belt
Joined: 09 Feb 2011
Posts: 241
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| Post: #2964 Posted: Fri Nov 25, 2011 12:22 am Post subject: |
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arvind EOD chart ....
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #2965 Posted: Wed Nov 30, 2011 8:59 pm Post subject: |
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Nifty Weekly chart with RSI +div and a +WW formation.Also a double bottom formation observed at point 5. A historical
-WW which failed to reach the target was also marked.
(P.S : You are right vinay, reposting the Chart! Thanks)
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Last edited by rk_a2003 on Wed Nov 30, 2011 10:02 pm; edited 1 time in total |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #2966 Posted: Wed Nov 30, 2011 9:16 pm Post subject: |
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Correct me if I am wrong, RK. A +ve div should be shown by higher lows on rsi for lower lows on nifty. It does show here but you have drawn TL joining higher highs on rsi.
Attaching what I mean. Also, see STS.
Casper - your expert comments pl
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peace69
White Belt
Joined: 27 Aug 2009
Posts: 113
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| Post: #2967 Posted: Thu Dec 01, 2011 10:08 am Post subject: |
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| rk_a2003 wrote: | Nifty Weekly chart with RSI +div and a +WW formation.Also a double bottom formation observed at point 5. A historical
-WW which failed to reach the target was also marked.
(P.S : You are right vinay, reposting the Chart! Thanks) |
hi rk. a hunch regarding to +ww. once rev from pt 5 & then retest LTL after failed attempt to cross UTL. is it still valid as per +ww? another caution regarding to TF. larger the TF, more risk involved on failure considering larger sl with larger TF. it's on w'ly & sl comes @ 4639 cash cmp is 4932. so it's 300 pts risk with nos of weeks/mths to reach tg. so it's for deep pocket & patience ones. although good one for general idea of possible dir in general. let me know if i'm mistaking somewhere. regards.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #2968 Posted: Thu Dec 01, 2011 11:38 am Post subject: |
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You are absolutely right Peace
It's just for an understanding. Larger T.F is difficult to trade at least for small Traders. In my earlier posts I mentioned it and thought that no need to mention this time. However in my future posts will take care to mention .
Reg.WW I observed a common phenomenon especially in EOD and above TF that at point 5 after making D.B the wave is reaching the targets. That’s why i made it a point to look for that, that too... If with RSI Div it is better.
WW explanation may accommodate it as long as the peak of this wave did not violate UTL.But the bigger this wave the more ww nullified. In this case the wave is considerable .I thought due to strong RSI div may be we can consider this WW.
My main stress is on RSI div that's why I posted it here.WW is supplementary.
However the main purpose of this post is academic not to trade let us see how it goes.
| peace69 wrote: | | rk_a2003 wrote: | Nifty Weekly chart with RSI +div and a +WW formation.Also a double bottom formation observed at point 5. A historical
-WW which failed to reach the target was also marked.
(P.S : You are right vinay, reposting the Chart! Thanks) |
hi rk. a hunch regarding to +ww. once rev from pt 5 & then retest LTL after failed attempt to cross UTL. is it still valid as per +ww? another caution regarding to TF. larger the TF, more risk involved on failure considering larger sl with larger TF. it's on w'ly & sl comes @ 4639 cash cmp is 4932. so it's 300 pts risk with nos of weeks/mths to reach tg. so it's for deep pocket & patience ones. although good one for general idea of possible dir in general. let me know if i'm mistaking somewhere. regards. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #2969 Posted: Sat Dec 10, 2011 6:57 pm Post subject: |
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Andhra Bank EOD made a double bottom with +ve Div. Can we dare to go long?! .......Further Commentory/Analysis.... Welcome.
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veerappan
Expert
Joined: 19 Dec 2007
Posts: 3680
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| Post: #2970 Posted: Sat Dec 10, 2011 7:08 pm Post subject: |
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| 105.85 taken out u can go long with sl 100 carry posn with risk of 5.85 and target of 110-116-123 above 123 closes then 139 possible otherwise then 81 theory only.... f and o rates...
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