iCharts Discussions

[riteshucha]

1308 to 1265 future...booked half..

every rise in ceat is a shorting opportunity... looking for 1200 or lower this series...

[pkveenu]

hello all

Please analyse the chart of HCL Tech at this juncture. Is is buy or avoid.
And if any one track Shriram Transport Finance for long term view.

Regards

[vinay28]

[pkveenu]

[riteshucha]

ceat 1225

TSL to 1265...

[amitagg]

[riteshucha]

shorted TTM & bought maruti

STop 358 (futures) closing basis and maruti stop after open... maruti +ve div on 1 hour... looks good for 100 Rs. jump...

[riteshucha]

lower targets now revised to 1150/1160...

[ragarwal]

dear ritesh,plz post chart of maruti

[riteshucha]

sent you a pm...

vinay, sent you too...pls comment

ritesh

[vinay28]

ritesh, rashmi, et al. here's my take on maruti.

first of all, as a general rule, you should know that once a price makes an all time high, it keeps making it as seen in case of maruti in which it happened at least 15 times in 2015 alone. just for info, S&P made an all time 79 times last year. Even after maruti fell 14% in august from an all time high, everyone went bearish but it recovered to make another all time high in just a month.

this time too, it has fallen 11%. Today's news that shareholders have approved 40% holding by FIIs and FPIs will boost it and I feel it may go to about 4465-90 on Monday or next week.

However, I am circumspect this time for a change since it has tried to breach 100 dma 6 times this year of which it succeeded 3 times. Current fall will attempt it again albeit after news-based knee jerk boost and may succeed finally. The charts are very bearish in all TFs.

If it sustains below 4155, likely lower levels are 3950/3905/3870/3790 to begin with and perhaps worse (3650-3300). I suspect FIIs know something more than we do.

If you have bought for positional trading or investment, your SL should be daily close below 4276/4030 (note 4030 is below 4155 mentioned above and hence dicey) or weekly close below 4276/4063 (again below 4155).

You can take your call accordingly but I won't touch it or I may short it after some rise. Problem is, to prove bullishness, it has make an all time high again. A close above at least 4415 may give some hope to bulls.

Pl don't trade or invest on my comment and take your decision based on your own study.

[ragarwal]

Thanks Vinay and Ritesh.

[amitagg]

MARUTI

just because Ritesh was upto something, thought to analyse....my 2 cents.

4155 is daily gap area ...as per demand, 4045/ 4030 is stop level on daily...bottom of daily uptrend......

Note: it completed "perfect TD mark" on daily from 9th to 30th Sep and fell......
for any downtrend....8/9 also sometimes down ticks can be there....6 done till date.

Note : on Monthly, it has risen 9 M (as per TD mark ) and then continuous further 10 months till Sep 30......9+13=22 is the limit......ONLY BELOW 4165 is the TD mark UPTREND "violated THIS month"......in case of just parabolic / strength stocks, a spike down is forceful but quick not taking much time....and uptrend likely resumes......downtrend IF 4165 HOLDS till month.....we may touch NEW HIGH.......(UNLIKELY due to TRAP formation at top....big daily candle clearing previous high and QUICK fall thereafter...)

ON larger scale, 3950 is 23.6% retrace and strong BULLISH stocks do not fall below................

on nearer term, 4316 is similar level "broken down " to target 61.% at 3850/3910......

it is forming BIG Overlapping WAVE to target bottom again at 4155. this can be ABC FLAT FORMATION. FROM THE HIGH

TRENDline from 1573 ......note ....1573 (cmp 4276....) NOT VIOLATED... it was near touch at 4055 few days back but was held......UPTREND MAINTAINS

AS PER my limited understanding of RSI, there is NO bullish divergence still on 60 tf ...even now.... (28 < 43)

on WEEKLY, it has shown negative divergence which has started reflecting on prices.

consequently , cmp 4276..........

I) it is A SELL BELOW 4155 to target 3950........

II) it is A SELL AT 4500 target 4150

III) SURELY on different timeframe different trading strategy other combinations possible for BOTH long and short (this is the key....)

apply filters as desired. i have added to alerts.

on long term, considering NO TRENDLINE violation and ABOVE 23.6% RETRACE, AND correct correction forming flag (leading to smaller retrace of bull leg) and not ZIGZAG, seemingly uptrend still there...............FOR institutions/ long term players.

[riteshucha]

Thanks guys for the input

[ian_botham47]

Binoy Ji:

Would u pl. share ur view on Rel inf. & Rel Cap for 6 m or medium term perspective at ur convenience?

Thanx.