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Analysing NF using iCharts levels - Aug 2011 |
ongc123
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Joined: 02 Dec 2010
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Post: #91  Posted: Wed Aug 17, 2011 2:19 pm Post subject: |
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| thanxs a lot swing brooo and i bought at 5020 with SL S1:) BUT I DONT KNOW about tgt is that bull or R1 tgt ? |
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SwingTrader
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Location: Hyderabad, India
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| Post: #92 Posted: Wed Aug 17, 2011 2:31 pm Post subject: |
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| ongc123 wrote: | | thanxs a lot swing brooo and i bought at 5020 with SL S1:) BUT I DONT KNOW about tgt is that bull or R1 tgt ? |
If you are still holding, see how price reacts to R1 if NF reaches there again in the next few mins. If you see signs of reversing again (like little while ago) then exit. If R1 is cleared then we can see higher prices. Trail below levels as they are hit (move SL to just below a previous level).
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Srikanth Kurdukar
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ongc123
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Joined: 02 Dec 2010
Posts: 75
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| Post: #93 Posted: Wed Aug 17, 2011 2:34 pm Post subject: |
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| SwingTrader wrote: | | ongc123 wrote: | | thanxs a lot swing brooo and i bought at 5020 with SL S1:) BUT I DONT KNOW about tgt is that bull or R1 tgt ? |
If you are still holding, see how price reacts to R1 if NF reaches there again in the next few mins. If you see signs of reversing again (like little while ago) then exit. If R1 is cleared then we can see higher prices. Trail below levels as they are hit (move SL to just below a previous level). |
.ty v much and i sold near R1 with 45 points profit thanxs agin broo u Rocking   |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #94 Posted: Wed Aug 17, 2011 7:43 pm Post subject: |
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Dear ST
As per Avinash's strategy, trend was up but buy was to be at or below 5027 to ensure enough profit and at the same time reduce loss if SL was hit. Therefore, I did not buy when NF made first bottom of 5036 in the morning. When NF went to 5014 later, I was not at home but it was about 5025 when I soon returned. I did not have the guts to buy at that time because NF had already retraced from 5125 (beyond R1) to 5014. It was then that I saw your latest post stating that NF can find support at Bear-S1. That gave me the moral support I needed and I bought 5100 call at about 5030 and sold at about 5070 making 25% profit.
I, therefore, thank you for your post and request you to contnue to give such guidance (tip). While on the subject, I have a question
When you said that NF can find support at Bear-S1, is it always so or was it only for today; just because NF retraced from beyond R1 to Bear-S1?
Thanks again
Vinay |
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Arjun20
Yellow Belt
Joined: 23 Jun 2011
Posts: 945
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| Post: #95 Posted: Wed Aug 17, 2011 8:43 pm Post subject: |
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| vinay28 wrote: | Dear ST
I, therefore, thank you for your post and request you to contnue to give such guidance (tip). While on the subject, I have a question
When you said that NF can find support at Bear-S1, is it always so or was it only for today; just because NF retraced from beyond R1 to Bear-S1?
Thanks again
Vinay |
Pls ST sir...... |
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #96 Posted: Wed Aug 17, 2011 9:21 pm Post subject: |
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| vinay28 wrote: |
......
......
When you said that NF can find support at Bear-S1, is it always so or was it only for today; just because NF retraced from beyond R1 to Bear-S1?
Thanks again
Vinay |
There is always a high probability of price finding support/resistance at BULL-R1 and BEAR-S1 range. You will see this almost every day. The levels are computed in such a way that these areas are where there is a good chance of sup/res.
When price is falling from above these bands and into the bands then expect significant support there, if price is rising from below into these bands then expect significant resistance there. A reversal may not take place each and everytime but you will see it happen with regularity. If you see, today in the morning before 10 AM price was supported around the BULL area twice but later when price fell from 11 AM to 1 PM from above R3 to BEAR the BULL-R1 area did not provide any support to the price. So one has to watch carefully when price approaches these areas and see if any support is being found or not.
In short, every day concentrate on the price action around BULL-R1 and BEAR-S1 and things will start getting clearer...
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Srikanth Kurdukar
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #97 Posted: Wed Aug 17, 2011 10:35 pm Post subject: |
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| vinay28 wrote: |
I, therefore, thank you for your post and request you to contnue to give such guidance (tip). While on the subject, I have a question
When you said that NF can find support at Bear-S1, is it always so or was it only for today; just because NF retraced from beyond R1 to Bear-S1?
Thanks again
Vinay |
ST providing tips?????
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #98 Posted: Thu Aug 18, 2011 8:54 am Post subject: |
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Thanks ST
Amit - I look for hints in any such statements and that's why I called it a tip |
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #99 Posted: Thu Aug 18, 2011 9:42 am Post subject: |
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NF has fallen into the BEAR-S1 zone after reversing from LOC. A reversal, if it has to happen now, may happen around S1. Above BEAR we may get higher prices - LOC then BULL-R1. Below S1 we head to S3 which is a good support.
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Srikanth Kurdukar
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ongc123
White Belt
Joined: 02 Dec 2010
Posts: 75
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| Post: #100 Posted: Thu Aug 18, 2011 10:02 am Post subject: |
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| ST broo can u ple provide s3 to s1 and loc bull bear R1 to R3 level its request |
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #101 Posted: Thu Aug 18, 2011 10:06 am Post subject: |
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| ongc123 wrote: | | ST broo can u ple provide s3 to s1 and loc bull bear R1 to R3 level its request |
The levels are available below the chart on JCharts (Premium) page. If you are not a subscriber, NF levels are available temporarily on our Facebook page : http://www.facebook.com/ichartsindia
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Srikanth Kurdukar
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ongc123
White Belt
Joined: 02 Dec 2010
Posts: 75
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| Post: #102 Posted: Thu Aug 18, 2011 10:14 am Post subject: |
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| SwingTrader wrote: | | ongc123 wrote: | | ST broo can u ple provide s3 to s1 and loc bull bear R1 to R3 level its request |
The levels are available below the chart on JCharts (Premium) page. If you are not a subscriber, NF levels are available temporarily on our Facebook page : http://www.facebook.com/ichartsindia |
ty v much broo |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #103 Posted: Thu Aug 18, 2011 10:20 am Post subject: |
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| ST, are you based in US? |
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #104 Posted: Thu Aug 18, 2011 10:31 am Post subject: |
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| vinay28 wrote: | | ST, are you based in US? |
No. I am in India (Hyderabad, AP) 
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Srikanth Kurdukar
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #105 Posted: Thu Aug 18, 2011 10:35 am Post subject: |
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S3 hit....it is important level. If it holds we can see a move up to S1 where there will be stiff resistance (BEAR-S1 key sup/res band). Below S3....S4 is important as previous sharp down move on 09.08.2011 ended around there. Below S4 we have serious trouble
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Srikanth Kurdukar
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