iCharts Discussions

[swetha141reddy]

swing trader sir 89 ema NF also around bull level means in which min chart sir

[SwingTrader]

[diwakar]

Dear ST,

Your levels and method of trading rocks....

Thank you very much....

Warm Regards,
Diwakar R.

[SwingTrader]

Current market stats (based on iCharts Levels):

BULLISH : 203
SIDEWAYS WITH BULLISH BIAS : 42
SIDEWAYS : 95
SIDEWAYS WITH BEARISH BIAS : 9
BEARISH :11

Overall strongly bullish as of now.

NOTE: The above numbers indicate no. of scrips and are based only on the scrips we track intraday.

[SwingTrader]

[diwakar]

[SwingTrader]

[diwakar]

Accuracy of icharts levels....

[SwingTrader]

NF continues to be positive, it is currently in BULL-R1 band and move above R1 can lead to a significant upmove.

BNF too continues to be bullish and is currently above BULL-R1 band, R1 continues to support it.

Out of the scrips posted for consideration, all bearish scrips except GAIL have turned bullish or sideways with bullish bias indicating overall bullishness in the market. Such scrips that turn from bearish to bullish almost certainly fit the criteria of reversals from bear-s1.

Out of the bullish scrips post, two have gone sideways (they both were actually below 89 EMA so have significant resistance), the rest are continuing their move up.

[SwingTrader]

Out of all positions now. A satisfying day, mainly because I was able to trade the whole day today...was not busy in the afternoon as I usually am.

Traded NF, BNF and all bullish scrips I posted today. Closed out EVERONN & GPIL early as they went sideways. The rest : HDIL, TATAMOTORS & TATACHEM were fine. Avoided trading shorts as the market was bullish...was going to initiate shorts only if both NF & BNF turned bearish but that did not happen.

Posting few charts....

[SwingTrader]

TATACHEM & TATAMOTORS charts

[SwingTrader]

Note sure who have noted this but I have bent the trade entry rules for NF & BNF but not for stocks.

** The green circled areas are where I entered trades

For NF & BNF, I entered long on a break above BULL because both rallied from LOC, broke above the 89 EMAs and broke above bull. That is good enough for me. This is not there in the standard list of rules I gave earlier in this thread, there are other rules missing too.

I hope those who are reading this will get the basic idea of my thought process. Most of the time the standard rules are fine (this would be true especially for stocks) but some times there are exceptions. But even these exceptions are due to very good reason as given above.

[SwingTrader]

The two trades that did not work out today:

GPIL - Not sure what I was thinking getting into this one today. Broke all my rules and entered this one as it broke above R1 and fell back into BULL-R1 band. I had no business getting into this one. EMAs also were within the band indicating major resistance. Anyway...a good lesson.

EVERONN - This one just didn't work out for whatever reason. Followed all the rules but it didn't follow thru' which is fine. I am satisfied that I followed the rules on this one.

** Areas marked with green ovals indicate the long entry area and those marked with pink ovals indicate where the trade was exited.

[dilesh]

hi ST Sir,
In the Scan engine will it be possible to check whether the price (CMP) is above or below EMA89 within 0.5% & also whether the CMP is above or below a level within 0.5%.

Regards,
Dilesh

[pinoo99]

Dear ST: One EMA is the 89EMA, what is the period of the other EMA used by you in HDIL chart. Thanks.