iCharts Discussions

[casper]

just forgot to check cumminsind,
open=low=777
made a high of 802 so far
cmp 798

what a mistake from my side!!!
if i saw it earlier....... no point to blame on my luck

[tripathi_manu]

[tripathi_manu]

[casper]

[drsureshbs]

Casper excelent stuff.I think you hav made seection of the stocks made easy for many.But how do u moniter a stock for which intra day charts r not available.
Keep up ur good work

[casper]

[casper]

[newinvestor]

Sorry , was too busy to write.

On Friday, I tried following your picks, and CUB, Provogue and Cummins were Open = low. Another one had open=low for quite sometime and then started falling.

Do you keep a trailing stoploss to lock in whatever profits come ?

The strategy is very good, but the bad market did not help.

Do you use reverse startegy for intraday shorting?

[casper]

welcome back newinvestor
generally i dont use trailing stop because bo scrips tends to be much more volatile and at any instance of time, sl may get hit and then stock will zoom.

i maintain a sl just below the open=low and try to book as soon as i feel good.
if i get the intraday chart then only i follow trailing stop, in this case suppose a break out pattern is forming in REAL TIME CHART, i would verify it 5 min,10min,15 min and 30 min to see if the pattern is valid for higher time frame also.

then i would find a point which if breached will make the pattern null and void (so that the reason to trade the stock also become invalid) and would use that point in 30 min tf(time frame) as my 1st sl, whn price goes up, i will change it to 15 min tf corresponding point as my 2nd sl and so on, ranging from higher to lower

but generally i never changed my sl more than twice in a trade as i generally get my desired profit by then.

and i do use this strategy for intraday shorts also.
this setuo works well in a trending market or even in choppy market.
but only during trend reversal it creates trouble, im working to find a suitable solution in case of trend reversal, but as of now, i dont hv any answer to trend reversal

[mrvishal_g]

Hi Casper,

I find out some stock for monday please comment
Deep Ind 99--------Buy T-105-110
UTV 576-------Buy T-600
JSW Steel 1342---------Buy Target 1400, 1450(positional buy)
as per me buy call will trigger only if stock will be in white candle in first few mintunes(5 min) and sl will be near open price.

I find Herohonda (1865) a buy candidate
above 1925 T-2050
near 1810 T-1850
or if open with gap up.

[mrvishal_g]

Hi Casper,
I checked EOD charts on charts (as u told me, thanks for it) but found charts only apx 3 monts, is there any chance to see it for a longer period.

[casper]

hi mrvishal_g,
here is what i understood from ur calls
all patterns are round bottom or cup and handle, nice finding

hero honda: u may target around 2100 if it sustain above 1925

deepind:i would suggest u to buy at 100 insted of 99 as 99 is the zone where bo should occur, so we have to buy after the bo, or else, the stock may go for consolidation. target is alri8

utvsof: target 650 after 600 is achieved, as the distance from bo to the bottom is aprox 150 so the target will be bo + distance= 500+150=600

jswsteel: same goes for jsw, target here 1500+ if 1450 is taken out
im attaching the charts


in jcharts eod, use the magnifying glass tool situated at the top left corner to increase or decrease the time span, it will be decresed if u zoom in, and will increase if u zoom out

in chart(premium) link where u can get flash charts but can to use tool, u will see a drop down menu at the top left corner , from here u can select the time span,
u can get all the data available, starting from listing the company

[newinvestor]

Casper, just a casual observation.

When I look at the long term charts of NIFTY as well as many stocks, the pattern seems to have completed ( from the top of 2008, then a bottoming out in early 2009, and then the ride back to top 2008 levels.

Now what happens? A breakout or a break down?

This is true for Nifty charts as well as many stocks.

I was just looking at 3 yr chart for Petronet LNG. It seems to have crossed its 2008 high slightly , and raced down with a vengeance. Will we see a similiar show in Nifty and other stocks with similiar pattern?

Also, another concern ( from a technical angle) is that Nifty as well as many stocks are near major support levels, below which there is no support for a long way ( this was the fast run up of the past few weeks, with no pause).

Any comments or tips on how to trade from here?

[casper]

it is said that we may be wrong but the market is never wrong.
so we have to depend on the clue from the market.
its true that if we fall from here that will be a devastating one and most of us will never head back to stock market in their life time ever.
we have traveled a long way in a very short span of time, thanks to fii, they could not produce result in their homeland so came here to stretch the valuation here.
according to me,we are not fundamentally strong enough to attain the level where we are currently. if it were not so, then the COAL INDIA ipo, which soaked money considerably from our market, wont gift us a choppy to bearish trend in spite of growth story and "india shining"

now i believe that the answer lies in the current earning session. generally results shows the way and valuation follows. but now,........ as the valuation reached its horizon, its the duty of the results to support the valuation, or else, there will be an asset bubble

just a mention...... every thing is okey, gdp going to progress @ 8% or more but august iip data suddenly slowed a bit. a tiny thing..... but if problem persist, who knows may turn to be a cancer?

but dont panic, just follow the market, we are traders, we will follow the market and survive

[girishhu1]

i m enclosing 5-7 charts. will u comment on them please?