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a layman's approach to break out and break down |
sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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Post: #751  Posted: Thu Dec 16, 2010 7:51 pm Post subject: |
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Hi Friends,
Today of all the BO/BD posted in the daytime, I made profits in IDFC, Indiainfo, Siemens & UttamSugar(yesterday's trade carry). I came out at par in LT(short) as it was not making much moves and nifty was moving up consistently...
There are following setups which are likely to make moves on next trading day..(already posted, but BOs didnot happen today)
1.)Dewanhous 2.)Tulip 3.)
Regards,
Sumesh
PS: I'm curious to know the trade results from all of you also.. If u mind sharing 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #752 Posted: Thu Dec 16, 2010 7:52 pm Post subject: |
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Hi Friends,
Today of all the BO/BD posted in the daytime, I made profits in IDFC, Indiainfo, Siemens & UttamSugar(yesterday's trade carry). I came out at par in LT(short) as it was not making much moves and nifty was moving up consistently...
There are following setups which are likely to make moves on next trading day..(already posted, but BOs didnot happen today)
1.)Dewanhous 2.)Tulip 3.)Sesagoa
Regards,
Sumesh
PS: I'm curious to know the trade results from all of you also.. If u mind sharing
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #753 Posted: Thu Dec 16, 2010 8:16 pm Post subject: |
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Hi Sumesh,
I squrd off Jindal stl today aroung 652 ...good profit,i carried fwd the trade from the previous day.Went short on IDFC and small profit.
I was long on Tata Steel (660 call @ 13. but intraday it dropped so got out in loss ....The call shot up to 18 in closing hours (like someone had posted PATIENCE IS THE NAME OF THE GAME !!!!!...need to learn that.
Thnx for posting great calls........
Deeppak
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #754 Posted: Thu Dec 16, 2010 8:48 pm Post subject: |
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Hi Sumesh,
As i already told that i m not online in market hours, so i m missing your rocking calls. I just see eod charts in evening and make a note for 3-4 stocks. I see rates and if any one comes in my redar then only i trade or sometime positional trade.
Today, i short Tata steel @648 and cover with a  loss of 3 rupees. (see the charts which was recomanding short yesterday) tom i will play long in Tata Steel with a sl 652 target may be 675 & 700 in a week. Please suggest is it good one or not.
I trade ICICI bank buy @1183.4 and sell it near 3.30 pm @1199.35 
I will keep a eye on HCC also
Vishal
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mrvishal_g
White Belt
Joined: 17 Sep 2010
Posts: 89
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| Post: #755 Posted: Thu Dec 16, 2010 8:53 pm Post subject: |
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Hi Casper and Sumesh,
SCI 133.7...is looking good for tom and for next few days.
Please chk and revert. It may be your cup of tea also for tom.
Vishal 
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measoldier
White Belt
Joined: 09 Sep 2010
Posts: 36
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| Post: #756 Posted: Thu Dec 16, 2010 10:43 pm Post subject: dear guptaji |
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| mrvishal_g wrote: | Hi Casper and Sumesh,
SCI 133.7...is looking good for tom and for next few days.
Please chk and revert. It may be your cup of tea also for tom.
Vishal |
tomorrow markets are closed gupta ji  
but sci is a BUY ON MONDAY I THINK IF BROADER MARKETS SUPPORT
MACD IS BUY MODE AND RSI IS RISING
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #757 Posted: Fri Dec 17, 2010 7:12 am Post subject: Re: TULIP..60tf.. |
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| sumesh_sol wrote: | TULIP..60tf..
******************
Tulip below 172 can see 170/168
-Sumesh |
hello sumesh bhai.... i got it thank u very much
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #759 Posted: Fri Dec 17, 2010 9:11 am Post subject: |
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| mrvishal_g wrote: | Hi Casper and Sumesh,
SCI 133.7...is looking good for tom and for next few days.
Please chk and revert. It may be your cup of tea also for tom.
Vishal |
Hi Vishal,
SCI is not looking very strong to me, on EOD as well as on 60tf, it is running below 5,13,34 EMAs .. Any move above 135 can take it to max. 137- 138 levels... So may be good for intra but not for positional trades..
In fact it can find good support near 120 level.
TATASTEEL looking very good and can touch 680 to 700 in coming days... Very Good for delivery...
Regards,
Sumesh
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #760 Posted: Fri Dec 17, 2010 9:23 am Post subject: Re: hi sumesh |
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| aromal wrote: | | measoldier wrote: | | mrvishal_g wrote: | Hi Casper and Sumesh,
SCI 133.7...is looking good for tom and for next few days.
Please chk and revert. It may be your cup of tea also for tom.
Vishal |
tomorrow markets are closed gupta ji
but sci is a BUY ON MONDAY I THINK IF BROADER MARKETS SUPPORT
MACD IS BUY MODE AND RSI IS RISING |
hi sumesh bhai please check whether escorts in good shape to short |
Hi Aromal,
Good to see you here, Escorts is in negative trend on 60tf.., but it is not my choice of DT... If you want to short then try it near 166-168 range It can go down upto 160..
And where is those yahoo mails as you promised me on our telecall ?
-Sumesh
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #761 Posted: Fri Dec 17, 2010 9:39 am Post subject: |
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| sumesh_sol wrote: | | mrvishal_g wrote: | Hi Casper and Sumesh,
SCI 133.7...is looking good for tom and for next few days.
Please chk and revert. It may be your cup of tea also for tom.
Vishal |
Hi Vishal,
SCI is not looking very strong to me, on EOD as well as on 60tf, it is running below 5,13,34 EMAs .. Any move above 135 can take it to max. 137- 138 levels... So may be good for intra but not for positional trades..
In fact it can find good support near 120 level.
TATASTEEL looking very good and can touch 680 to 700 in coming days... Very Good for delivery...
Regards,
Sumesh |
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #762 Posted: Fri Dec 17, 2010 12:10 pm Post subject: |
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Sumesh/Casper ,
Andhra bank trading flat and ascending upwards,but can it break out ?
Ur comments pls...........
Thnx/Rgds
Deeppak
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #763 Posted: Fri Dec 17, 2010 12:24 pm Post subject: |
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[quote="deepakms"]Sumesh/Casper ,
Andhra bank trading flat and ascending upwards,but can it break out ?
Ur comments pls...........
Thnx/Rgds
Deeppak[/quot
Hi Deepak,
Like you said, it is trading flat... means there in not much encouraging MACD and RSI builtup while pattern formation.. If market trades higher, it might also breaks out, but the strenght to sustain and move rapidly is less because of weak MACD and RSI so far...
It will get strong resistance at around 153-154, because of TL and presence of 89 SMA(hourly)
This is my observation, I may be wrong also.....
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #765 Posted: Fri Dec 17, 2010 1:31 pm Post subject: Re: CIPLA .. 60 tf.. |
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| sumesh_sol wrote: | This is typical case where a DT breakdown should NOT have happened because of rising MACD and RSI in a falling pattern. Now it has broken falling TL on upper side, it has to be seen how it behaves in next 2-3 days.
I shall not trade this, but with this observation we can plan for next such scenario with targets as obtained here.. (Do I make any sense ?  )
Regards,
Sumesh |
off-course it makes sense, i would recommend you to observe the price action and its reaction with fibonacci levels. i think that might give us some new lights and we can include this kinds of failure methods in our trading in near future
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