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a layman's approach to break out and break down |
veerappan
Expert
Joined: 19 Dec 2007
Posts: 3680
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Post: #3031  Posted: Wed May 09, 2012 6:07 am Post subject: Re: Cairn India Short sell |
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| thegani wrote: | | Please comment |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #3032 Posted: Wed May 09, 2012 10:46 am Post subject: |
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| t.chatterjee wrote: | hi rk and ss, thanks and welcome
and it was no way offense 
lets forget the past and lets concentrate on what the future holds for nifty!!
nifty situation is very bad we are on a very important support level and apparently we are going to gap down below it tomorrow itself
its around 4965 range as we can see two trend lines are joining there so we can expect strong support here and once decisively broken, we will hv a strong resistance to cross also .
below 4965, support will be available at 4797 and 4688 spot levels
supports will come and go but breaking below 4965 will hv a consequence
u can see the slanting down trend line which we get by connecting all the highs right from 6300 ............. all the highs except the recent high
so that tl represents the basic down trend we were into, hence, breaking below that tl and staying there, would only confirm the down trend
since this one is a big trend line, we may use 3 days rule to confirm the trend, 3rd rules viz, if we get 3 trading days close below that tl, we may consider that we are back in down trend
but suppose we dont break it, by any means and hold it , move up and break the small red trend line , which is the present smaller down trend line, in that case, we will rise up again |
Hi Tushar,
But i feel, sustaining 4965 will be difficult.....today it was below or at par the falling trend line which starts sliding from 6300.......anyways lets hope for the best, if it moves above the trend line.
-Chetan.
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t.chatterjee
White Belt
Joined: 07 May 2010
Posts: 66
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| Post: #3033 Posted: Wed May 09, 2012 10:57 am Post subject: |
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it will take at least 3 days close below that tl, as i mentioned already
one day going down and then going up does not prove anything here coz this is a big tl
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prasadkonda
White Belt
Joined: 20 Dec 2008
Posts: 32
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| Post: #3034 Posted: Tue May 21, 2013 10:19 pm Post subject: |
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| t.chatterjee wrote: | it will take at least 3 days close below that tl, as i mentioned already
one day going down and then going up does not prove anything here coz this is a big tl
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Is still Casper availble here ???
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #3035 Posted: Wed May 22, 2013 8:23 am Post subject: |
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| remember the white ghost appears rarely!
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beowulf
White Belt
Joined: 18 Aug 2010
Posts: 163
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| Post: #3036 Posted: Wed May 22, 2013 8:46 am Post subject: |
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| vinay28 wrote: | | remember the white ghost appears rarely! |
Where is chrome, he (she??) used to post some fantastic BO trades... 
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newinvestor
White Belt
Joined: 16 Feb 2010
Posts: 120
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| Post: #3037 Posted: Wed May 22, 2013 10:08 am Post subject: |
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[/quote] :
Is still Casper availble here ???
[/quote]
Yes Casper. We need you back actively in this forum. Where r u?
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #3038 Posted: Wed May 22, 2013 10:17 am Post subject: |
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I don't think casper will be back. "It" only helps good people. 
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #3039 Posted: Wed May 22, 2013 11:17 am Post subject: |
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| vinay28 wrote: | | I don't think casper will be back. "It" only helps good people. |
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