iCharts Discussions

[girishhu1]

casperji,
sbi touched 2905, came down and now 2897
woooooooooooooooooooooooooo
girish

[sumesh_sol]

SESAGOA :

Seems like forming DT.. can break and see 300/298. Monthly S1 is at 298.

-Sumesh

[sumesh_sol]

TCS looks even better now for AT.. Tgt could be 1070 & 1080

[casper]

[aromal]

[aromal]

[newinvestor]

[vishytns]

newinvestor,
Please refer the site http://thepatternsite.com to know more about the pattern. Actually domestic events happening around us made this pattern look stronger. If you find the answers to your questions from the site mentioned you will know why I am saying this. Site also explains how to trade this particular pattern. As an excersize you can try finding this pattern in many of the nifty stocks. Find them and analyze them.

casper,
Please check the attached chart and provide your comments. This is a h/s in nifty, price has broken down the neck line, and there is also a retracement to neckline.

If anybody wants to trade this pattern, neck line would be the stop loss. You have to be carefull because most of the indicators are oversold so we could have consolidation/pullback/even pattern might fail. So please be careful.

Vishy.

[sumesh_sol]

Friday's testing result..
****************************
As I could not find much time I could trade only few. The results are as below:

1.)SAIL (AT Long ):worked for me and I booked 50% at tgt1, rest 50% stopped out on trailing..

2.)Sesagoa (DT Shorted): It tumbled to give me both of my tgts, (in fact more than that, but I was out already !)

3.)TCS (AT Long): Entered long, however closed near to BO level.. I expect it to move higher on monday

There were two trades which were opened a day before:
1.)IDBI (DT Short): It fell down like anything..

2.)BEL (AT Long) : Stopped out !!! The first of my trades in this series, where I was stopped out.. It was making weird moves.. In fact , like I mentioned earlier I entered a bit early than actual BO into this, so had to pay the price

Cheers,
Sumesh

[newinvestor]

[casper]

hi newinvestor,


all i what wrote in the doc files i posted is true only about triangles and pennants. i have not checked it in other patterns. but if any one wanted to short, depending on the chart. he could short.

when vishy mentioned the pattern, nifty made a high of 6300 aprx and was going down .(making a high means that is the highest point , then down trend/correction started) and nifty was around 6100, so in this case a positional trader can easily short nifty with a target of 6000. various types of stop loss could be used also, depending upon the risk appetite of the trader, while the simplest sl would be a close above the recent high, because by any means if nifty could successfully close above the recent high of 6300 aprx then the pattern would lost its significance and turned to be a case of higher highs, that means nifty would establish its up trend once again, in that case we would close our short because it would be meaningless by then


when 6000 was broken, the pattern reached its break down phase, so the trader who has earlier shorted nifty now can add more short positions there

as of now, we can also make a risky short. we can short nifty at cmp and take an sl of a close above 89 ema, our oscillators are oversold so short will be risky and nifty is an index which is the average of 50 stocks so it does not follow the chart exactly and various fundamental news plays a role in its movement as good as chart patterns do. so it can bounce back any time but practically there is no support upto 5500 as per chart readings

[casper]

[mrvishal_g]

Hi Casper,
Please comment on following
Geshiping 370.....buy a flag (bullish) but RSI and MACD is not clearing supporting while the breakout is aready happened on weekly chart (AT) where RSI and MACD is also supporting

HindZinc 1105...sell it is broken trendline support, RSI and MACD is also favoring.

Jindal Steel 612....sell it has broken important support and rectable bd is going to happen on weekly chart below 600

Please also mention that which one is looking more reliable.

Vishal

[chandrujimrc]

Hi casperji,
If your time permits pl comment on canbk,bpcl and bartronics.


chandru.

[jjm]

Dear Casper/Sumesh,

Hv a look at these..do we need wait for price to touch neck line to validate the pattern or we can take position at current prices

Or do we take position on rejection on 13,21 or 34 EMA in 60 TF,

Friday SGN nifty closed above 5800 so expecting a gap up on Monday...,how to initiate trade in that case

Regards,

JJM