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a layman's approach to break out and break down |
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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Post: #661  Posted: Thu Dec 09, 2010 1:51 pm Post subject: |
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| deepakms wrote: | Hi Sumesh,
Reg DENA BANK
Whats a 60tf and how did you get the 114.6 price levels that needs to be broken.
Pls explain.......
Thnx/Rgds
Deeppak |
it shows tht u r not following us closely buddy. (plz dont mind just joking) 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #662 Posted: Thu Dec 09, 2010 1:56 pm Post subject: |
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| casper wrote: | | deepakms wrote: | Hi Sumesh,
Reg DENA BANK
Whats a 60tf and how did you get the 114.6 price levels that needs to be broken.
Pls explain.......
Thnx/Rgds
Deeppak |
it shows tht u r not following us closely buddy. (plz dont mind just joking) |
Hi casper,
Today I traded Aban & Auropharma, both were executed well... Thanks for the input.. 
Was just wondering if you and any of our friends have account on facebook.. It will be fun if we can SEE also each other... You can search by my name "sumesh solanki" in facebook and then can send me your message..
(ST : I'm not sure if this violates the forum rules of icharts ? If so then please excuse me !! )
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #663 Posted: Thu Dec 09, 2010 2:04 pm Post subject: |
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Hi Sumesh,
Thnx for the DENA BK details.....
Request you to do similar analysis for IFCI,with the Break down level (If that can happen ).
Chart not attached,pls check at your end and let me know.
Regret inconvenience.......
THNX/RGDS
Deeppak
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #664 Posted: Thu Dec 09, 2010 2:07 pm Post subject: |
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| deepakms wrote: | Hi Sumesh,
Thnx for the DENA BK details.....
Request you to do similar analysis for IFCI,with the Break down level (If that can happen ).
Chart not attached,pls check at your end and let me know.
Regret inconvenience.......
THNX/RGDS
Deeppak |
Hi deepak,
IFCI is actually moving in a downward channel and is close to it Swing low point . Only a strong close on 60tf below 55 can see it going down...
-Regards,
Sumesh
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #665 Posted: Thu Dec 09, 2010 2:50 pm Post subject: |
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Sumesh,
DENA BK is now 107.....can i carry the position for tmrrw
Rgds
Deepak
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #666 Posted: Thu Dec 09, 2010 2:50 pm Post subject: GDL |
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GDL on 60tf......
Below 99.8 can go down 2-3 rs...
Though RSI not weak, MACD negative.. I will take half the exposure, and once BD confirms (price hover below BD level, I will add on position).
-Sumesh
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #667 Posted: Thu Dec 09, 2010 3:45 pm Post subject: |
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| deepakms wrote: | Sumesh,
DENA BK is now 107.....can i carry the position for tmrrw
Rgds
Deepak |
Hi Deepak,
I have learnt one thing very hard way, that you should be clear before entering into trade. If it was a day trade never carry it , whether in profit or loss. This is primarily because entry was made on signals generated during day and not EOD. More often than not you will find mkt moving against your trade direction.
So if you have closed the trade, well and good... I shall be out of market till next friday due to personal reason, I'll defeinetely miss market and friends like you..
Bye for now.
-Sumesh
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #668 Posted: Thu Dec 09, 2010 4:15 pm Post subject: |
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| sumesh_sol wrote: | | casper wrote: | | deepakms wrote: | Hi Sumesh,
Reg DENA BANK
Whats a 60tf and how did you get the 114.6 price levels that needs to be broken.
Pls explain.......
Thnx/Rgds
Deeppak |
it shows tht u r not following us closely buddy. (plz dont mind just joking) |
Hi casper,
Today I traded Aban & Auropharma, both were executed well... Thanks for the input..
Was just wondering if you and any of our friends have account on facebook.. It will be fun if we can SEE also each other... You can search by my name "sumesh solanki" in facebook and then can send me your message..
(ST : I'm not sure if this violates the forum rules of icharts ? If so then please excuse me !! ) |
hi sumesh, its nice to see that our joint efforts are producing results, but today BSNL was "connecting india" (as they say in their slogan) except my computer. 
so i could not take any trade except bsel infra short which i took at 9.15-9.20, then when i got connection again, all was in red, so more or less an event less day for me.
but vishy and rakesh did well and ur trading was rocking today i guess
i am today particularly satisfied as rakesh and me were caught on wrong foot on the day before yesterday in ifci, i made a small loss being a day trader but this poor boy was carrying huge (i mean it) loss. but today he also came back in plus territory. then i came to forum and saw ur post, and though financially today is not that good for me, but believe me brother, i have a strong feelings of happiness and satisfaction in my heart
deepak, as u have not replied my joke, so i am writing u again. plz dont mind for that joke, in fact im like that... lazy and crazy guy
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #670 Posted: Thu Dec 09, 2010 6:14 pm Post subject: |
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Hi Casper,
Hey I don't mind at all and everyday is a new experience and learning in this field. I m just a fresher -still a long way to go.
I think Somesh and yourself have immensely contributed to the benefit of a lot of us ,i 'm sure. I follow U guys closely.
Thnx a ton to the TWOSOME AWESOME.
Somesh,
I squared off the trade in good profit.Thnx for the details.
I m still to learn some of the technical words and all the analysis u guys do.
Anyway keep it going guys,its working wonderfully.
Rgds
Deeppak.
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #671 Posted: Thu Dec 09, 2010 8:57 pm Post subject: |
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Hi Casper, Sumesh and other friends
today i see last 5 pages of thead as i was out of station from last 2 days.
I feel very happy to see that you people(specially caspe and sumesh) are doing really good job and making money.
I see some new friends also which is showing that the our group is expanding.
Once again thanks to ichart which provide this platform to us.
I feel we can make the statement wrong which my teacher told us in last slide of our course.
The statement was "ONLY 10 % OF TRADERS ARE MAKING MONEY"
Tom i will trade intraday Sumesh already given a call Jindalsteel. Please give me 1-2 more for tom.
Casper please comment on
Nitco
JBF
Vishal
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #672 Posted: Thu Dec 09, 2010 9:08 pm Post subject: Re: JINDALSTEL |
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| sumesh_sol wrote: | JINDALSTEL on 60tf...
Before I leave, I could find one good trade opportunity. You guys can see it tomorrow(I'll be on leave ).. Below 880 we can target 860 safely ..(The BD has already taken place)..
All the best.
CASPER: Yes, my dear friend our relentless efforts are paying fruits.. Now I feel even more confident. Actually day trade is all about "Conviction". From your conviction comes patience and courage. This is all one requires in day trade ! Earlier I used to get impatient and panic with market movements, Now with God blessings, I feel more clear in my approach.
I hope and sincerly pray all of us should make good profit in coming days. I appeal everyone to come forward and post more and more charts in this series...
Cheers,
Sumesh |
Helloooooooo, Jindalstel rate is 679.95 while you write below 880 target 860 i think you wrongly type 8 instead of 6 or i m looking some wrong stock., pl clarify......................Vishal
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yawalkar
White Belt
Joined: 02 Oct 2010
Posts: 58
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| Post: #673 Posted: Fri Dec 10, 2010 7:27 am Post subject: BANKS ON BD LEVELS |
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Pls. see these interesting charts.
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #674 Posted: Fri Dec 10, 2010 8:26 am Post subject: |
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hi vishal
jbf to mila nehi, but as per nitco,it has taken support at 68 level. it has 89 ema support also, below this target is 63 as the lower bb is present there. so plz wait to see its reaction at 89ema, if it takes support from here it can go up or consolidate and if its breached then we can expect 63 levels today
again on eod chart, a sort of dt is forming whose lower tl is 68. so if this 68 level is broken decisively then we can expect good down move where 63 would become a support and if breached the stock will tank more
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #675 Posted: Fri Dec 10, 2010 8:40 am Post subject: Re: BANKS ON BD LEVELS |
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| yawalkar wrote: | | Pls. see these interesting charts. |
sbin has broken a few important levels strongly and may go down further, but on real time chart it is at the monthly + weekly support level at 2670-2680, wait to see its reaction at this range before initiating fresh short here
icici and idbi are ok according to me, but yesterday's fall has broken down all the bearish set ups on real time chart, no bullish set up has formed so far,but indicators are oversold, so intraday traders today need to be extra cautious,
further down move, consolidation at this level or even sudden bounce back, any thing can take place and 60 min chart is not telling any story so far. so we need to be very careful to day
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