iCharts Discussions

[asabale]

I would be discussing here stocks from my trade book. I use candle stick patterns extensively for taking the direction and use Western Techincal Analysis for price targets. Stop losses/support/resistances are derived from both Western and Candle stick patterns.

Date - 23 May 08 (Evening)
1. Suzlon - Bearish harami is negated by today's price action.
Stock found good support at 290 and heavy resistance at 300
Bullish Engulfing pattern is formed today. Long bias continues with resitance at 305-309-317. Support at 290.

2. Sunpharma - Stock has formed hammer yesterday/today is bullish engulfing day. Stochastics is at lowest level 12 - oversold condition
Bullish bias continues. Resistnace at 1345-1355.

3. Bombay Deying - Yestarday was bearish harami and today its doji. Bears took stock down yesterday and today bulls could not
close the stock higher. It seems that bulls are getting out of this stock and bears would take control henceforth. Bearish stance. Expect free fall till 876

4. Jindal Steel - Previous day bearish harami is confirmed today by closing down the the close of the small real body. Short Bias with target of 2317

[easwaran1947]

beloved asabale
greetings
i welcome you with love and respect
it is good u did started a nice thread
alas
it is abruptly stopped
i can understand your time constraints
my dear only by sharing
what you have observed
one can go deeper in to the mysteries of this thread
it will light up the path
my dear if you can revive
it will be nice to see your thoughts
here
thanks
cheers
easwaran
bangalore