iCharts Discussions

[SwingTrader]

Out of NF position as SL below LOC hit. No more positions for today. Market stats evenly distributed at the moment so no strong bias...it can go either way, so no positions for the rest of the day.

[t.chatterjee]

St sir, I am asking a question to u which is quite irrelevant to the current topic, but as u always help green-horns like us, so I have gathered courage to put the question here,
Sir, nowadays a lot of stocks are making all time highs with good volume, they some times carry on their up trend and some times there is a trend reversal, but being all time high, no support/resistance line can be drawn on the chart to guess how far shall they go,
Can u recommend any method to trade them systematically??

I used ichart levels, but that r useful for intraday only, again all such scrips r not included in real time chart also (although its of no use to include every stock in real time chart)
So can u plz give any idea about it?

[SwingTrader]

[t.chatterjee]

thank u sir,i was confident that u would reply as soon as u find time,
i knew st sir cant turn a deaf ear when his children (disciples=children in ancient Hindu philosophy) are at a fix

[SwingTrader]

NF opened between LOC & BEAR. A breakout above LOC & 89 EMA (which is just above loc) will be bullish...I would look to buy there with a SL below today's low. On the other hand, a breakdown below today's low will take NF to BEAR initially and further depending on how the price reacts to bear level. If sold below today's low SL should go above LOC.

[SwingTrader]

One important thing to note is that icharts levels are computed using previous day's intraday data. For futures, the next day's expiry which is today, is a bit tricky as the levels have been computed using the previous contract (Aug) where as today we are looking at Sep contract. We have still found the levels to be relevant but please be careful.

[SwingTrader]

Well...I checked yesterday's NIFTY-2M chart and re-confirmed today's NF levels and they almost match....so false alarm...please ignore my previous message.

[SwingTrader]

Sorry....couldn't post market stats earlier....

Market Stats (as of 2010-08-27 10:00:30)

BULLISH : 96
SIDEWAYS WITH BULLISH BIAS : 100
SIDEWAYS : 117
SIDEWAYS WITH BEARISH BIAS : 28
BEARISH : 26

Very bullish indeed.

[SwingTrader]

Market Stats (as of 2010-08-27 10:46:56)

BULLISH : 121
SIDEWAYS WITH BULLISH BIAS : 72
SIDEWAYS : 94
SIDEWAYS WITH BEARISH BIAS : 29
BEARISH : 28

Stats continue to indicate bullishness.

[SwingTrader]

You can watch the market stats here:

http://www.icharts.in/icharts-levels-scans/icharts-levels-market-stats.html

NOTE: Please don't refresh too often....these stats update every 1 min only.

[t.chatterjee]

ST SIR, thank u very much, this link will save us from a really strenuous work to find bullish and bearish scrips, i really don't know how to say thank u.
now our work become so simple,

one more thing, im here again to disturb u, sir, i have made a channel of 89 ema high and low on nifty,plz take take a look,
whenever the price goes above 89 high, we can buy and when goes below 89 low, we can sell, though i did only for fun, but sir plz take a look, this may be important,(i know u r busy, but i often disturb u, plz don't mind sir)

[maooliservice]

as per ur icharl levels strategy supose 2 succesive candles close is above 1 of the ichart level then were to buy should it be immediate or near to the i chartlevel wich is crossed

[SwingTrader]

[SwingTrader]

[maooliservice]

thank u very much for ur prompt reply.I m very much new to this charts.so pls tel me how to set 89EMA and also let me know standard TA settings for good results namely TF,EMA ,MACD ,STC etc