iCharts Discussions

[Gemini]

Dear Friends,

Attaching a few charts which highlight that ema 34 crossover and DMI+/DMI- crossover can be used as effective trigger signal. This situation is specially effective when ADX value is greater than 20, i.e. a particular stock has moved into / or is about to move into trending range.

DMI+ above DMI- indicate that stock is now in bullish zone (and vice-versa)

Stock price movement resulting in multiple DMI crossover within a short span (+ve crossover, followed by -ve crossover and another +ve crossover) lead to more reliable signal.

Please also closely observe how the slope of ema34 impacts the movement.

HDFC Bank is at interesting stage. Let us wait and watch !

I thank Sh. Ravee. Singh for first highlighting this set-up.

[amitagg]

i can see vital difference in 3 charts so HDFC may not behave as indicated....
just see ADX behaviour

chart 1 : ADX already at higher level....so with price crossover signalling sell, it falls and so does price

chart 2 : ADX lower level near above 20...but already rising and showing strength in upmove beginning.....so with price cross over, bullishness continue

chart 3 : hdfc : adx already falling to aroung 20.....down slope....so with price crossover, SELL signal IS NOT strong......it can be "downward bias only"...rather clear short based on method

pls check and update......need to finetune method....lets get more examples....

[Gemini]

Thanks Amit.

Very interesting observations. I believe that we need to closely monitor behaviour of DMI+ and DMI- as they crossover. For a good trend, distance between the two needs to increase with time. They remain "knotted" to each other in absence of clear trend.

Adding a few more example.

[Gemini]

Buy indications today (based on this set-up):

MOIL : Buy above 308 (todays high), SL : 280 (recent swing low with some margin)

CAIRN : Buy above 335, SL 300

L&T : Buy above 1600, SL 1430

These suggestions are not for intra-day / short term trading. Please ensure proper SL management.

Happy Trading....

[rameshraja]

Mr Gemini

Nice to see your postings in forum.. Keep it up.. !!

[Gemini]

Dear Sh. RR Sir,

Thanks for your encouraging post.... Many like me follow you silently on SB and gain from your valuable experience being shared freely.

Warm Regards,

[taruj]

Hi Gemini,

Very nice

DI+ and DI- based trades have very good results..

rgds,

[Gemini]

Dear Taruj - Thanks.

Friends -

Stocks on watch next week:

1. Colpal - Buy above 1565, SL 1500,
2. IDFC : About to give buy signal, wait and watch

MOIL, L&T have continued their positive match

Will add more observations later.

[Gemini]

Hello Friends,


NTPC has given buy signal as per this set-up at close yesterday. Buy above 145, SL 141.

SAIL : Buy above 79, SL 75.

IDFC joins the gang today With SL as 145. ( Edited at 3.18 pm / 21st Oct)

Happy Investing !