iCharts Discussions

[chetan83]

BNF failed to enter in buy mode even in S1 price.....it moved down below S2.....

[rameshraja]

NF broke weekly LOC at 5238 and crashed to 5207 as of now in less than 60 minutes. Yesterday I mentioned here that it should not break weekly LOC>

Great Short below 5238 !!

[chetan83]

[vinay28]

thanks chetan

[arnav2007]

Dear RR sir

attached filtered imperfect bullish/bearish close for all F&O shares

arnav

[vinay28]

Dear Mr. RR

I am attaching a chart showing the last 3 day candles. They look like forming a perfect evening star if looked at in isolation. But this formation is at the end of a downtrend so I am not sure it can be called an evening star. Unless you wish to treat first candle as an uptrend which is "nipped in the bud".

Vinay

P.S. - the illustration showed by you does not show a gapped up second candle (star or doji star), which is, as I understand, a mandatory condition.

[rameshraja]

Mr Vinay

You are saying this formation is in downtrend, whereas I feel market has overdone in its upmove of 600 points too fast with weak fundamentals. I am viewing this pattern seriously as I am waiting for shorting opporutnity.

C T R

[vinay28]

Dear RR, I am saying it is at the end of a down trend because it is, however small it may be. Don't we have to see any such a formation in the context of the trend immediately prior to it? Otherwise there would no end to it e.g. one can say we are in an uptrend since 2001. No offence meant to you at all by this.

I would go further RR. W.r.t. my post in ST's thread, even if market goes down from here as you say and it may.....afterall it is the king, it would not make this an evening star.

[rameshraja]

Mr Vinay

There are few points I would like to mention here.

I think you have not understood my writing in ST's thread. ST has opined likelyhood of market becoming weak from Option sentiment indicator. To my little bit of understanding of candlestick patterns, I assumed last Friday's candle stick completed Evening Star formation which supports option sentiment indication.

I may be wrong in interpretation of Candlestick patterns as I am not expert like TV people or GURU as you mentioned in ST's thread,( your quote: After seeing RR's post, I called my friend to discuss my logic with him on this issue. He too agreed that it was "not at all" an evening star. He is the one who has taught most of the experts who come on TV.) but definitely can understand whether the market current trend is in upward/downward in relation to time.

One final point I would like to mention here.. You may not be aware of this fact.. I was the first to give a call for Nifty to be bought at 920 in the year 2003 for Target of 6200 and to short from thereon for a crash of market to 1800 level. The entire move of Nifty is explained in shout box well in advance and entire transcript is still in icharts Forum under market direction. And market honoured my level of 6200 and crashed from 6357 to 2250 in 2008.

I emphasied the above point, since I wanted to clear you doubts if I am capable of understanding the trend.

C T R

[vinay28]

Dear RR

Just for clarification, please be rest assured that I don't have the slightest doubt about your capabilities in understanding the trend or in anything for that matter. If I do have any doubt, it is always about my capabilites.

I was just responding to your post about evening star and not about future trend. I won't do so in future since you doubt my intentions.

[rameshraja]

Dear Mr Vinay

Please correct your thinking.. I never doubted your intentions.. I am not expert in stock market which I keep repeating quite frequently. I only tried to emphasis that TV experts don't suggest to short or long near termination of trends..

No offence meant and you are free to do constructive criticisim of my analysis, and that could further enhance my knowledge in technicals.

Best Wishes

C T R

[mitu tyagi]

[rameshraja]

Hello Mitu tyagi

You have not understood the system correctly.

Rules as follows:

For Long, BULL + 20 and SL is LOC

For Short Bear - minus 20 and SL is LOC

If above condition is meant, and if SL is takenout, the counter trend will have momentum.

Example:

1. Current week LT crossed BULL + 20 and became long. Subsequently, it broke LOC yesterday at 1351.50 and today stock crashed to 1314.

2.Current Week Infy breached Bear minus 20 and it was short.. when it crossed LOC today at 2386.85, it blasted to 2439.

Hope this meets your requirement.

Good Luck !!

C T RAMESH RAJA

[bhasha]

[skd2012]

Good method. Real jackpot is hidden in this.