iCharts Discussions

SwingTrader · Posted: Wed Jul 28, 2010 2:56 pm Post subject:

Just came back to my desk and wow what a move...

Our standard short trade on break below BEAR-S1 would still be in play and will probably be fine, but the non standard short on a break down below LOC (valid only after a consolidation around LOC) would have been more profitable.

SBIN is going in the opp direction. See attached image. It did not touch BEAR but was close enough. In such cases I usually wait for a breakout above LOC to initiate the trade.

optimist · White Belt Joined: 06 May 2010 Posts: 18

Hi ST,

I have attached the RELCAP chart. Around 13:00 pm , relcap closed above BULL and also it is above 89 EMA.

Can you please tell your views on this

1. Should we go or not go for thatt trade with SL as LOC?

2.Also , I see you talking about the imp of 89 EMA mostly . How do you actually use 34 EMA.

optimist · White Belt Joined: 06 May 2010 Posts: 18

HI ST,

How do you actually upload a pic.

This is the URL I have hosted it on

http://img442.imageshack.us/f/relcap2807.png/

SwingTrader · Posted: Wed Jul 28, 2010 3:43 pm Post subject:

Today's example reversals (down) from BULL-R1 levels:

HDIL, GAIL, HINDUNILVR, LT, AXISBANK

Today's example breakout reversals (UP) from BEAR-S1 levels (or close to it):

SBIN, ITC, ABAN, BHARTIARTL

SwingTrader · Posted: Wed Jul 28, 2010 3:54 pm Post subject:

optimist · White Belt Joined: 06 May 2010 Posts: 18

Hi ST,

I am not ale to find the 'Add as attachment' section in the reply box...

SwingTrader · Posted: Wed Jul 28, 2010 4:27 pm Post subject:

optimist · White Belt Joined: 06 May 2010 Posts: 18

Hi ST,

Please have a look at the link below. I am not getting that option at all.

ttp://img689.imageshack.us/i/noaddattachment.jpg/

SwingTrader · Posted: Wed Jul 28, 2010 7:26 pm Post subject:

optimist · White Belt Joined: 06 May 2010 Posts: 18

SwingTrader · Posted: Wed Jul 28, 2010 10:16 pm Post subject: Re: SBIN

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

i can understand wht u mean st sir, though my experience in the market is nothing in comparison to u,bt it happens to me also, at times an inner voice says go and i jump, sometime i just think abt some hypothetical situations like let this be happen then i wll do that and so on, i guess at those moments we usually remain so much engaged wid the market movement that later it becomes hard to explain our actions, i think its all abt experience and risk appetite, sorry for commenting, hope u wudnt mind Very Happy

SwingTrader · Posted: Thu Jul 29, 2010 9:28 am Post subject:

SwingTrader · Posted: Thu Jul 29, 2010 9:33 am Post subject:

NF has opened around LOC and is hovering around it. Strong resistance of BULL-R1 + key EMAs (34 & 89), to rally from here NF has to breakout and stay above these. The "line of least resistance", at the moment, seems to be down....but have to see. Currently we will have to wait and watch what NF does at these key levels and act accordingly.

Good luck!!!

SwingTrader · Posted: Thu Jul 29, 2010 10:18 am Post subject:

Watch BPCL...it has reversed in the morning from BULL level and is currently in the BEAR-S1 band. A break down below S1 from here could result in significant downside OR a reversal above BEAR can take it back to test the BULL-R1 levels.

Look at stocks as NF is totally sideways consolidating around LOC a break away from this consolidation is needed for a good move.