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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
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Post: #4081  Posted: Wed Jan 29, 2014 7:15 pm Post subject: relinfra |
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relinfra today made the low of 362/363
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dynamite_munda11
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| Post: #4082 Posted: Wed Jan 29, 2014 7:18 pm Post subject: reliance |
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reliance closed below H& S baseline
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #4083 Posted: Wed Jan 29, 2014 7:21 pm Post subject: |
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| saumya12 wrote: | | amitagg wrote: | | anybody for reliance? multi month lows....buying candidate |
Amit
What will be your time frame and target |
I just though about it as such and saw the chart (just at market close) for 15 seconds.....not traded yet...no idea...just was thinking that if no adverse outcome come this evening that market may pull up...for me .market consolidated in 6140-6160 yesterday..moved down in spike and retraced full...today trade in 6140- 6160 for most part and last fell....
Is it that this is to trap the bears...if market open around 6150-6160 on monday or higher...reliance at be one candidate for longs surely..a safer one...that was the thought behind asking
I don't see great merit in stocks trading (for short term of a day or few days) for reliance, dr reddy, united spirits, etc since they move their own way for me....but for longer investment they merit buying near lows...considering that for me..markets would rebound "extremely sharply up" from wherever level they go...6000, 5900, 5800, 5700 ..I personally don't see below it ...irrespective of taper etc...
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4084 Posted: Wed Jan 29, 2014 7:27 pm Post subject: |
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| amitagg wrote: | | anybody for reliance? multi month lows....buying candidate |
closed below 200dma/50wma. 100 wma is about 814. Has to cross 890 first but ideally needs to give weekly/monthly close above 909/918.
some people consider 830 as make or break level. I wonder why.
note that it has never gone more than 20% above 100wma since 2008. I had earlier given targets of 1025, 1200 and 2500 for short to long term. However, it has remained a underperformer. I am now afraid it may revisit 770/60 to make a triple bottom. It's a good thing since a strong rally in RIL marks end of market.
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dynamite_munda11
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| Post: #4085 Posted: Wed Jan 29, 2014 7:38 pm Post subject: reliance daily |
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reliance daily
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amitagg
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| Post: #4086 Posted: Wed Jan 29, 2014 7:58 pm Post subject: Re: reliance daily |
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| dynamite_munda11 wrote: | | reliance daily |
One point - the trendline should be drawn from low of wave A and not end of wave B (even if some initial bars are below it)...it shall then give another parallel "with higher trendline support"....also this would touch the low of many subsequent swing lows....+the reverals in your chart have happened on many occasions prior to hitting the trendline...since the correct trendline should be actually higher as mentioned above
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amitagg
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| Post: #4087 Posted: Wed Jan 29, 2014 8:03 pm Post subject: Re: reliance daily |
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| amitagg wrote: | | dynamite_munda11 wrote: | | reliance daily |
One point - the trendline should be drawn from low of wave A and not end of wave B (even if some initial bars are below it)...it shall then give another parallel "with higher trendline support"....also this would touch the low of many subsequent swing lows....+the reverals in your chart have happened on many occasions prior to hitting the trendline...since the correct trendline should be actually higher as mentioned above |
Also in charts like these one should look out for AB-CD pattern playing out as in yours also on many occasions...so lows are actually bought into and subsequent retrace happens to the highs ....in that sense the nearest ab-cd will give a "d" value not much below current price of 832-837..hence a buy around these regions...HS has broken even for Nifty ..so wonder whether NS HS target at 5830 would actually come since 5973 for me (as mentioned in my thread few days back) is a support on Lmultiple multiple counts...
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dynamite_munda11
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| Post: #4088 Posted: Wed Jan 29, 2014 8:17 pm Post subject: Re: reliance daily |
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| amitagg wrote: | | dynamite_munda11 wrote: | | reliance daily |
One point - the trendline should be drawn from low of wave A and not end of wave B (even if some initial bars are below it)...it shall then give another parallel "with higher trendline support"....also this would touch the low of many subsequent swing lows....+the reverals in your chart have happened on many occasions prior to hitting the trendline...since the correct trendline should be actually higher as mentioned above |
these waves are all in three wave pattern and hv marked with different colours for your convienience and at end of each wave have joined the trendline
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dynamite_munda11
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| Post: #4089 Posted: Wed Jan 29, 2014 8:29 pm Post subject: Re: reliance daily |
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| amitagg wrote: | | amitagg wrote: | | dynamite_munda11 wrote: | | reliance daily |
One point - the trendline should be drawn from low of wave A and not end of wave B (even if some initial bars are below it)...it shall then give another parallel "with higher trendline support"....also this would touch the low of many subsequent swing lows....+the reverals in your chart have happened on many occasions prior to hitting the trendline...since the correct trendline should be actually higher as mentioned above |
Also in charts like these one should look out for AB-CD pattern playing out as in yours also on many occasions...so lows are actually bought into and subsequent retrace happens to the highs ....in that sense the nearest ab-cd will give a "d" value not much below current price of 832-837..hence a buy around these regions...HS has broken even for Nifty ..so wonder whether NS HS target at 5830 would actually come since 5973 for me (as mentioned in my thread few days back) is a support on Lmultiple multiple counts... |
if we calculate from 927-835=92 or as a and 835-909 as b or as you are saying AB as 927-835 and CD in progress than 909-92= 817 and AB =CD at 817 and 92x1.13=104-909=805 as alternate AB=CD and 92x1.27=117-909=792 or 793 is wat it should trgt and this C from909 has more potential to go dn further
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amitagg
Black Belt
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Posts: 4559
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| Post: #4090 Posted: Wed Jan 29, 2014 11:33 pm Post subject: Re: reliance daily |
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agreed ....target can be 824 or 778 [1.618*range]....simialr to nifty exactly behaving....but point is if 824 holds and i see a intra day buy with NS supporting, for me that would be a buy level
| dynamite_munda11 wrote: | | amitagg wrote: | | amitagg wrote: | | dynamite_munda11 wrote: | | reliance daily |
One point - the trendline should be drawn from low of wave A and not end of wave B (even if some initial bars are below it)...it shall then give another parallel "with higher trendline support"....also this would touch the low of many subsequent swing lows....+the reverals in your chart have happened on many occasions prior to hitting the trendline...since the correct trendline should be actually higher as mentioned above |
Also in charts like these one should look out for AB-CD pattern playing out as in yours also on many occasions...so lows are actually bought into and subsequent retrace happens to the highs ....in that sense the nearest ab-cd will give a "d" value not much below current price of 832-837..hence a buy around these regions...HS has broken even for Nifty ..so wonder whether NS HS target at 5830 would actually come since 5973 for me (as mentioned in my thread few days back) is a support on Lmultiple multiple counts... |
if we calculate from 927-835=92 or as a and 835-909 as b or as you are saying AB as 927-835 and CD in progress than 909-92= 817 and AB =CD at 817 and 92x1.13=104-909=805 as alternate AB=CD and 92x1.27=117-909=792 or 793 is wat it should trgt and this C from909 has more potential to go dn further |
Last edited by amitagg on Wed Jan 29, 2014 11:39 pm; edited 1 time in total |
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amitagg
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| Post: #4091 Posted: Wed Jan 29, 2014 11:38 pm Post subject: Re: relinfra |
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| dynamite_munda11 wrote: | | relinfra today made the low of 362/363 |
was following this stock....let me know when to buy.....it has had 4-5 big red candles and 340-343 is bottom [75% approx retrace & trendline target] with 353 as one support..
....may rise if a big gap down and NS stabilises....
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dynamite_munda11
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Joined: 14 Nov 2010
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| Post: #4092 Posted: Thu Jan 30, 2014 5:05 am Post subject: reliance 5 min |
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amitagg ji, lets hv a microscopic view of reliance c wave from 897. it has the potential to go further dn from 821 but till 812 is held it remains as corrective in nature and below that morphs into impulse
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #4093 Posted: Thu Jan 30, 2014 10:17 am Post subject: |
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| looking to take tata steel 350ce near 1.5-2.0 / 348 for intraday trgt near 356-358.
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vaishuu82
White Belt
Joined: 04 Sep 2013
Posts: 155
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| Post: #4094 Posted: Thu Jan 30, 2014 10:54 am Post subject: |
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| apka wrote: | | looking to take tata steel 350ce near 1.5-2.0 / 348 for intraday trgt near 356-358. |
is there any stoploss needed.as its near 1.5,placed order
vaishuu
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dynamite_munda11
Yellow Belt
Joined: 14 Nov 2010
Posts: 681
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| Post: #4095 Posted: Thu Jan 30, 2014 11:08 am Post subject: RCOM |
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long rcom at 111/112/113
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