iCharts Discussions

[vvsp]

[casper]

hi all here is the reply to ur questions
1.ge ship= its consolidating between 354-380 in daily chart. macd /rsi in sell mode. in weekly chart it is retracing to bo level,(360)u can enter with a bo in the daily chart i hope macd/rsi will be positive my then

2.hindzinc= it closed at 200ema . a down move from here can reach 1110,915 level

3.jindalstel= in weekly chart going to bd rsi going down and macd in sell mode, daily also same case, but rsi in daily is oversold,
a bd in weekly chart can take us at 500-450 level

4.canbk=got support from 89ema and closed within the bolinger band (20.2) i think down move will stop from here, here it may consolidate even may go up

5.bpcl= broken down from descending triangle. closed at support of 200 ema, a down move below 650 is needed for fresh short, in that case target would be 635-610

6.bartronics=broken down from a descending triangle. target would be 80,78,75

7.tulip= weekly= it has broken down from h/s already and taken support at 89ema a further fall will take us upto 165 level

daily=moving in a channel of 170 to 200, can take support here and go up, but if 170 is broken down then target will be 150-140


8.tatamotors=nice h/s but wait for a bd,i hv not tested my method for h/s
so can not advice u to go short now as in candlestick charts the neck line is intact now. u can go short if it breaches 1130

9.lt= nice finding brother, target 1800, its the patterns target as well as 200 ema, so expect resistance here

[maooliservice]

dear casper(junior),
below quotes r from ur one article.
alternatively u can find ur entry and sl levels if u use the calculator option under the calculator tab on ichart home page. use fibo to find out entry and exit point. plz note here that if u see a gap down with respect to fivo entry point, then for 95% cases u can buy blindly, it will pay off and if its gap up with respect to fivo entry point, just sell it and book at designated fivo entry point, u can use it for any choppy day. it works really good

can u explain this with the help of chart

[casper]

dear brother, i can explain it easily but could not find chart last time when u asked me, because this thing i noticed for choppy markets only. it has no room for trending markets like which we have now.

this kind of phenomenon was last noticed by me in end of august this year. u can understand that now in November i cant get real time chart of august easily

so here i am writting how i took this kinds of trades during a choppy day. and i will surely post supporting charts if i find one.

in those days my work started with candle stick screeners . we have one such screener installed in ichart, but i used another free website for this purpose, that particular website is all about technical screner and quite helpful too but i can not name it here due to forum rules

however, the idea is to find out candle stick patterns like morning star, evening star,and other reliable patterns,and one can do it from ichart also even can do it manually also

plz find the calculator link on the left hand side of the ichart web page and click it, u will see from that link u can calculate fibonacci and pivot levels, i liked the fibonacci option because it give u clear mentioned entry/sl/ and three targets

in order to calculate the enrty/sl/target we need to enter the days high and days close for short and in order to calculate a long entry we need to enter the days low and closing price

now suppose u get an evening star pattern on which we are supposed to take intra day trades, we will enter the days high and closing price for next day's trading, this calculator will generate
1. where to short
2.what is sl
3. target 1/target/2target3 (in addition to that it will generate reversal targets which are useful if ur stop loss is hit and u reverse the short trade into a long trade, but that's not our look out now)
this calculation we are doing before market

now come to the market, in those days(may be even today) nifty had a tendency to take a lead directly from sgx nifty, if we have a higher sgx nifty during our market opening, it would be a gap up and if we have a lower sgx nifty price, then it would be a gap down

now what i wanted to say,

let us assume that we have got the following fibonacci data on a stock named xyz

short= 100
stop loss=102
target=98.5
97
94.75
so we will expect that the stock will open at 100 or higher and will go down gradually
but in real time,due to gap down and choppy move suppose we have an opening around 96

in this case i have seen that the stock will generally not go down from 96 level to 94 level. but due to choppiness, mind u brother, only due to choppiness it will try to move up and will move up to 98.5>100>102 level

the same case is true for up trending stock such as stock formed morning star pattern but opened with a gap up. in that case it will open around higher levels and due to choppiness it will try to go down


in those days it was as if the stock had a quota to move. if it opens at higher level then will go down and if it opens at lower level it will go up

but remember this is for intraday only and that too only during choppy market, during trending market i hv never seen this, so plz dont try to apply this in this kind of heavily trending market

[anand1234]

hi.........casper........
I purchased hcc @66.5.............but now it is @39.................
shd it get reveresd from here?.........how long shd I hold??.pls guide me........

thanks
anand

[sumesh_sol]

NAGARCONST 60tf...

This appears to be a ST . RSI favourable, MACD is not in buy mode so far, but may come. Taking a chance on upper side BO.

Tgts 130.7 & 131.7. SL (after trade is entered) 122.6.. Take your own decision...

newinvestors: I think you asked me in one of your post abt TF I use, it is always 60tf, and I always mention it while posting... I have found this TF as most reliable

-Sumesh

[sumesh_sol]

APOLLO 60tf:

Another ST..
MACD -ve, RSI flat to negative and could turn -ve on breakdown, my tgt 60.5

-Sumesh

[sumesh_sol]

COALINDIA:(60tf)

AT in formation..

MY Upper tgts are 318/324.. You can adjust for yourself.

-SUmesh

[sumesh_sol]

Today's testing result:
**********************

1.) COALINDIA(Long) : Achieved 1st tgt.. second can come tomorrow.

2.) NagarConst(Long) : MACD has also turned now in buy mode at the, can expect tgt to meet tomorrow..

3.) ApolloTyre (Short) : BD did not happen, so not traded.

You might be wondering as to why I have been posting *MY* testing results in the public forum. Well, it has two reasons. First I always post the pattern before the tradeable BO/BD happens and then follow up the same by posting result, to let everyone *understand* the pattern. This instill confidence in YOU as well as in ME about the type of trading we r doing. Secondly, it also documents the patterns for future reference…

Now, As I am 90% confident of the setup, I shall increase my exposure from tomorrow onwards.


Regards,
Sumesh

[singh.ravee]

sumesh hello,
i read many of your previous postings. There is a wide variety of stocks that u trade in. May, i learn from you, how u select a particular stock out of all the stocks traded.
rgd
ravee

[casper]

[newinvestor]

[newinvestor]

Casper, what are your views on Jindal Poly?

[casper]

[casper]