iCharts Discussions

[vishytns]

Casper/Sumesh,
Check wipro, DT is information. Please check the chart and comment.
My observation
1. You have 34 ema in 60tf for support, just below the break down line. If 34 ema is broken hourly, then we could see levels of weekly pivot (LOC) = 462, which is actually just above target of break down line
2. Stop loss would be hourly close above Weekly S1 (484).

Casper,
Your observation on BB.
Vishy

[casper]

hi vishy,

thanks, u saved my day. i could not find any set up so far. but now with ur findings, it seems that we dont need to find any further

LT= right now weekly r1 is supporting is at 1921. we can sell below this level and with a intra target of 1870.1835, as per eod chart,1915 is the lower bb, so we need to be watchful here

WIPRO= yes ur observation is totally right according to me

ACC= again u r right anna. nothing to say abt bb, it is almost at higher bb, in case of bd, bb will not be a problem


BPCL= intead of 680, wait for a break below 676



overall, i am still not satisfied, bcoz the DT of NIFTY sumesh already posted is still valid and the problems of a free fall i mean supports to that DT what i posted, that is also valid, seems to me that another 3rd class day on its way


what a 3rd class charts we have. all ascending triangles got bearish macd and all descending triangle got strong supports. i think we need immediate breaks, or else it will be better to watch you tube than trade in intra day

[sumesh_sol]

[singh.ravee]

Hello casper,
I wish u and all users of icharts a merry XMas.
I am attaching daily chart of Tata Motors
1. I could see an ascending triangle in formation.
2. As the triangle is progressing the volumes are diminishing.
3. The sell signal on MACD signifies current down move.
4. It is expected that this current down move will touch Upward slanting trendline around 1280. If it bounce from this level, it will be another confirmaiton of ascending triangle.
5. If current downtrend finds support around these level of 1280 on intraday basis then one can go long from these levels for an initial target of 1350+.

Kindly share your perspective on the same.

Thanks and Regards

Ravee

[casper]

hiii raveee. merry christmas to u and to all my brothers/sisters of i chart


ur interpretation of tata motors is absolutely right. i am adding just three points.

1.during every pattern formation, we will see the volume is decreasing. infact this is one of the basic criteria of pattern validation. due to indecision among the players it happens. we call it resting phase or consolidation. u can also refer it as accumulation phase, as at this moment only informed buyers or strong hands will accumulate this stock. u and me will wait for a bo, as our holding strength and money management capacity is much much lower than those peoples

2 the slopping trend line is supported by 34 ema. thats why the chance of providing support is much greater than any ordinary sloping trend line

so we can surely expect that price will get considerable support from here and will go to our 1st target 1350, and then will provide the bo

3.finally, for players like us, i would say buying here is not very advisable, let it take support at 34ema or slopping tl (even intra day support will also do) and with a formation of green candle (even a 60 min green candle with added volume) , we can buy it for 1350

[pinak_k]

Please do see Orchid Chemicals. Yesterday's close indicates it may be ready to go up.

Pinak

[casper]

[mrvishal_g]

Hi Casper,Sumesh, Vishy, Girish and all friends and iChart team
I wish to all a Merry Chrismas, may God give you everything, you desire.
Casper
Please comment on:
Uflex 201…..i am seeing a Flag (bullish).Vol is also decreasing according to pattern formation and was lowest on Friday. MACD is bullish while RSI is flat. BO can come or Monday or Tuesday positively. Target can be 240-250 in coming days. Resistance may be a 218-220 level due to EMA(34 & 89)after that 250 will be there easily and fast.

Siemens 809.5………..AT BO . Also on Friday it break 34 EMA , 89 EMA and BB. No major resistance upto 840. MACD and RSI are bullish.

Vishal

[aromal]

[casper]

hii vishal and aromal. good morning ,

here is the results

1. SIEMENS:- already broken out, target 839,850.860

2.star:- it will be broken out above 440, and target could be 458.475

3.ulex:- r u talking about this flag vishal? its not very composed one. let us wait for a break out to take a position here

[aromal]

[mrvishal_g]

[casper]

hi vishal, i think it is forming, will take some time to form properly, however just above the possible bo level, both the emas are present, over all does not look very promising

honestly,cant show a proper reason but the set up looks so weak to me

[sherbaaz]

[casper]

right sherbaz bhai

vishal, instead of uflex, try balramchin

at, already broken out, i expect it to touch 90-92 within a couple of days.