iCharts Discussions

SwingTrader · Posted: Wed Aug 18, 2010 9:16 am Post subject:

Market has opened in a similar way as yesterday. NF around LOC, 89 EMA hovering above it. We need a breakout either above BULL or breakdown below BEAR for any kind of decent move in NF.

Until such time, look at stocks. They continue to give good returns....seeing lots of good trends as always.

SwingTrader · Posted: Wed Aug 18, 2010 11:32 am Post subject:

Market stats indicate continued bullishness. At the moment all the action is in stocks, not in the indicies.

Market Stats:

BULLISH : 171
SIDEWAYS WITH BULLISH BIAS : 29
SIDEWAYS : 63
SIDEWAYS WITH BEARISH BIAS : 23
BEARISH : 34

SwingTrader · Posted: Wed Aug 18, 2010 11:39 am Post subject:

Bullish Scrips : EDUCOMP, HCLTECH, MARICO, TATAMOTORS, UNIPHOS

Just a sample...these are not buy signals, look at the charts first. These might be extended at the moment, you might have to wait for a pullback get optimum entry levels. There are tons of other scrips today with good trends.

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

ST Sir,
Pl. share your observations regarding NF. Would it be better to wait for a break below LOC to get a confirmation of its down move or break of EMAs should be ok for confirmation.

Regards,
Dilesh

SwingTrader · Posted: Wed Aug 18, 2010 12:50 pm Post subject:

SwingTrader · Posted: Wed Aug 18, 2010 3:24 pm Post subject:

Frankly...totally missed this rally as I am not long in either NF or BNF. I am in stocks though like everyday recently and those have done quite well. But missing such huge rallies in NF/BNF is a major pain Very Happy

SwingTrader · Posted: Thu Aug 19, 2010 9:12 am Post subject:

NF is between LOC & BULL. A break below LOC would see it fall to BEAR and maybe 89 EMA level. A rally from here at this time seems to be difficult as the price is extremely extended. A significant consolidation or a down move is necessary to digest yesterday's gains first.

Market stats indicate that bulk of the scrips are in sideways mode but quite a few of those have a bullish bias.

SwingTrader · Posted: Thu Aug 19, 2010 9:29 am Post subject:

Lots of scrips have turned bullish...against all odds...the rally seems to be continuing for now. Watching how price behaves in the bull-r1 band.

t.chatterjee · White Belt Joined: 07 May 2010 Posts: 66

SwingTrader · Posted: Thu Aug 19, 2010 9:52 am Post subject:

SwingTrader · Posted: Thu Aug 19, 2010 12:18 pm Post subject:

If you are long, make sure you have tight trailing SLs....market has gone from being extended to over extended after the expected consolidation. The consolidation was shorter than expected as the moving averages have not caught up with price.

Trail SLs and watch out....

SwingTrader · Posted: Thu Aug 19, 2010 3:19 pm Post subject:

I have been busy recently with some important personal work so could not post stuff regularly. It will probably be like this for next week also. After that I will post examples of few more things...more entry/exit ideas using the iCharts levels.

Until then...will continue to post randomly as and when I find time.

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

SwingTrader · Posted: Fri Aug 20, 2010 9:05 am Post subject:

NF hit LOC at open and is now in BEAR-S1 band. A break down below S1 can lead to significant down move.