iCharts Discussions

[charav]

Hello everybody.
First thing – my apologies, if the issue I write about is impertinent to this forum topic.
I do not find any discussion regarding day trading in cash market in any of the forum topics. I sincerely believe that you should start one. Whether day trading in cash market is desirable or not is a subjective matter. Hence, it should be left to one’s own judgment – no argument about that.
I have only rudimental knowledge in technical analysis/trading. I seriously started studying it in the recent past, thanks to your valuable forum discussions.
Today, I looked at Glenmark chart and was baffled that the price rallied while all the indicators like RSI, RSEX, MACD, DMI and MFI gave strong bearish signals till 11.30AM (price went up app by 10%, by that time).
Was it an aberration that happens once in a while or my interpretation was faulty. Is there an indicator that would have given the correct signal about the rally?I haven’t traded the scrip. In fact I am not trading at all, but trying to interpret the signals. You see, I have been losing money for over a decade and that made me a little wiser I suppose. Please do not kill the topic, saying that I will loose more, in day trading. I will take the call on it myself at a later date.
Another small issue: I am posting the topic at 5.46pm on 03-06-09. There seem to be some confusion!
Thanks and regards.

[charav]

I haven't attached the charts concerned earlier. Please find them attached .