iCharts Discussions

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

ST Sir,
Hi. I entered a good Long trade in NF. Posting the chart herwith. Actually I missed out to book when it hit 5470 & then exited at 5459. Then looking at
the weakening uptrend avoided any further trades.

Thanks,
Dilesh

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

ST Sir,
Upon analyzing some of yesterday's charts I came across RELINFRA. Posting its chart herewith with marking of possible trades that could be taken. I think its a wonderful example of how powerful your strategy and levels work that one can comfortably trade a scrip the entire day Long & Short profitably! Please send your expert comments and guidance for this chart.

Thanks & regards,
Dilesh Very Happy

SwingTrader · Posted: Mon Aug 16, 2010 9:06 am Post subject:

SwingTrader · Posted: Mon Aug 16, 2010 9:10 am Post subject:

Both NF & BNF around LOC, we would require the price to either go to bull/bear to get a better entry. Risk takers would probably look for strong move away from LOC and trade initially in the direction of the move. Do watch for EMAs though...

SwingTrader · Posted: Mon Aug 16, 2010 10:02 am Post subject:

Market stats now bullish...were neutral after market open, were neutral even thru' the fake down move after market open.

NF needs to stay above 5467 to be bullish and BNF needs to stay above 10747.

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

Hi ST Sir,
AXISBANK is getting Bullish above R1. For a Long trade the stop has to be below BULL. Would like to know whether it is ok to buy even if the EMAs are a bit far as in this setup.

Regards,
Dilesh

SwingTrader · Posted: Mon Aug 16, 2010 10:18 am Post subject:

SwingTrader · Posted: Mon Aug 16, 2010 10:20 am Post subject:

NF has turned back after going above 5467 whereas BNF did not go above 10747. These two levels have to breach and price has to stay above these levels for a while for the market to be/remain bullish.

*** above "market" means those respective scrips...not the market as a whole. Market as a whole can remain bullish if the indicies at least remain neutral if not bullish.

SwingTrader · Posted: Mon Aug 16, 2010 10:50 am Post subject:

Bullish scrips to monitor:

IDFC, HINDUNILVR, LICHSGFIN, MARUTI, STER

dilesh · White Belt Joined: 09 Aug 2008 Posts: 73

SwingTrader · Posted: Tue Aug 17, 2010 9:50 am Post subject:

Market firmly bullish with BNF outperforming NF significantly. BNF is already above R1. NF is hitting resistance at BULL, 89 EMA also is just above bull so there is some resistance here. If NF can clear bull & 89 EMA, we can have a significant up move.

Market stats indicate clear bullishness as of now.

SwingTrader · Posted: Tue Aug 17, 2010 11:12 am Post subject:

NF has not been able to breach the BULL level and BNF is now below R1. If NF breaks below LOC it is probably going to go down further. BNF is bearish below BULL but BULL + 89 EMA is going to provide some support to it so will have to see if it breaks.

SwingTrader · Posted: Tue Aug 17, 2010 1:06 pm Post subject:

NF again at BULL level, 89 EMA is also around there. If it can break away from bull + 89 EMA and head above it we can see a good up move.

BNF is already above R1. It almost pulled back to 89 EMA and has again rallied to above R1. It continues to be bullish.

Market stats have remained bullish even through the recent dip.

sherbaaz · Yellow Belt Joined: 27 May 2009 Posts: 543

Hi ST,

I have been observing that 89 ema provide very good support or resistance. Is there any specific reason for it I mean like 20 sma/ema (which reflects a month).?

Request you to please explain the logic behind using 89 EMA.

Regards,
Sherbaaz

SwingTrader · Posted: Tue Aug 17, 2010 2:41 pm Post subject: