iCharts Discussions

[SwingTrader]

RELIANCE at crucial support : BEAR-S1. If it breaks down from here market will, of course, follow.

[SwingTrader]

SBIN

Watchout when there is a breakdown from BEAR-S1 or breakout from BULL-R1. Don't jump into the trade, let it consolidate properly after the break and see if it continues to break further. Better be late into the trade. The other option is to scale into the trade, enter only part of the position on a break & consolidation, the rest of the position is entered when you get a further continuation of the break confirming the down move.

*** Always make sure you follow SLs, in this case it would be above BEAR if you had taken the trade.

[SwingTrader]

TATASTEEL

Saw this one too late. It got supported around BEAR-S1 band (there was a fake down move....seen few of those today). Additional confirmation was EMA 34/89. Once price brokeout above bear it was clear that reversal was in place.

Caught this one too late...we are planning to build some scanning functionality that can display list of interesting scrips in the morning to watch. That would make things easier...until then one has to monitor few set scrips closely during first 1-2 hrs to get good trades.

[SwingTrader]

STER

Got supported in the BEAR-S1 band and 89 EMA. Brokeout above bear, consolidated a bit and then brokeout again. That tiny 2-3 bar consolidation was the point to enter....again saw this one late...posting this just as an example so you all know what to watch for.

[SwingTrader]

I am out of the NF trade for today...entered as per the idea posted in the morning on a breakout above BEAR and price moving above 89 EMA. Entered at 5392.45 (marked with green circle) and got out at 5439.80 (marked with blue circle). Exited even thought the scene looks bullish.

[t.chatterjee]

st sir, i dont know how to thank u, i was following ur examples of various ichart levels and possible significants of price actions wid respect to those levels, earlier i tried to follow the cam levels bt the result was far from satisfactory , but my exp wid ichart levels r totally different. i usually wait to breach either s1 or r1 to enter a trade, and the result is just rocking

LONG LIVE ICHARTS AND ICHARTS LEVELS,
LONG LIVE ST SIR!!!!!

[optimist]

That's really a great initiative SwingTrader.

The reason is Day trading has always been a menace to safe traders.

Knowledge from a Professional trader like you really adds a lot of value to the whole subscription...

Great going , kudos ...

Shiva

[SwingTrader]

[SwingTrader]

[SwingTrader]

NF opened in the BULL-R1 band and has broken down below BULL level. If there is a consolidation here just below bull, it is a short with SL above R1. Position can be reversed if price breaks above R1 strongly.

[SwingTrader]

Can go short here but SL will be above day's high (not above R1) as we are doing a counter-trend trade. For the short the levels to lookout for below are the BEAR & S1 as the key moving averages are also around those levels so support over there can be significant.

[SwingTrader]

The key thing to watch is how price is reacting at key EMAs 34 & 89 (for any scrip). At the moment for many scrips the price is getting support at these moving averages. If these averages can hold for little while, things can turn bullish.

[SwingTrader]

TATASTEEL breaking down from BULL-R1 level....can fall significantly if the key EMAs below don't hold.

[dilesh]

ST Sir,
Thanks again! Shorted Nifty near Bull level and covered also in profit.. Missed to short HDFC Below Bull level

Cheers,
Dilesh

[dilesh]

ST Sir,
NF now taking support at Bear will signal a buy?