iCharts Discussions

[chiragbvyas]

55 sma is falling or rising is not a matter. if sma is falling and script start for a good up move then after sometimes sma will start rising but prices will be much above the sma, so dont wait for sma to rise or fall. just see what happens after crossing the sma, that is the money making point. conditions should be fulfilled. now maintain stop loss and if stoploss is taken then reverse the position that's it. sometimes happens that both side stop loss are taken and then scripts start to move either side speedily so be prepared.

happy trading.

[vinay28]

Chirag

Considering that a lot of experts have been talking about an end of this rally and with reference to your post dated 19th June time 13:16, I am attaching nifty chart with 2,3 and 5 sma low and 2 and 3 sma close. It looks like we are indeed at a crucial juncture.

What are your views?

[tanhadil1984]

[chiragbvyas]

after a correction when a script cross and close above 55 high sma then on very first day we cant trust that break out, so for confirmation we should wait and watch for next day price movement. mostly it should gap up open and low should not be lower than 55 close sma. if that break out is just a corrective rally then it will not open in gap up but may as equal as 55 high sma. then it may close below 55 close or low sma. then we have have to wait for bullish or bearish break out. one thing is confirm that if a script close above 55 high sma and next day is gap up opening then it will have good bull run.

on that basis our current trade is CENTURYTEX. just see the chart you will understand what i mean to say practically.

[Rahulsharmaat]

Chirag bhai--

as u told u holding short in YEs bank with SL 306-- and its above that now--

can you please post when u take a position--that will benifit many of us-- Please

as u took in century Tex

[chiragbvyas]

vinay,
i never refer to charts like 2 and 3 and 5 days sma. also never use line charts, in the same chart use candle or bar and see if u are able and confident to do a good profitable trade. dekhne me achcha lagta hai par trade karne me bahut confusion hota hai.

sharmaji,

in yes bank our stop loss taken before a week when it closed 313.35 and did not gone below 298.94 or high sma 304.78. so no position in yes bank as of now. for yes bank short we are waiting to close it below 294.03.

[Rahulsharmaat]

chirag bhai- i requested -- when u stsrt fresh position--please update here-- we will get benifit of it

[acharyams]

[anilpalan]

[tanhadil1984]

[kishjk7551]

Hello Chirag ji

BHEL short triggered.

Cheers

[chiragbvyas]

yes it's a perfect shorting candidate, hold short with stop loss of 1996. if possible wait till it close above 1996 and square up next day.

[nkiran]

[vinay28]

There have been no posts on this for over 4 months. Have people stopped using it? Rahul, you were using it extensively?

The reason I am asking is that, as per this strategy, nifty has come in a buy for monday. But even if it closes below SL (55sma close) which is about 5295, I feel it will come up again after consolidation and may become a long term buy.

[Onkar95]