iCharts Discussions

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Shashangan I thank you for the reply you gave on 22nd. I am sorry I could not respond as my home PC was in trouble and forums are not opening in my cell.

Regards,
Channasri

shashangan · Posted: Wed May 29, 2013 9:12 am Post subject:

No prob Channasri,

Moving Avg.s is a slow indicator, by the time it gives signal the trend reverses. You need to closely analyse it to understand how certain Moving Av.gs & Parameters work & try with combination of other tools.

Try 13 & 36 parameters if it works for you. This gives good pull back supports after break on daily & hourly I suppose. Again each person is comfortable with certain parameters.

I also use 20, 50, 100 & 200 Simple M Avg's.

Thanks
Gautham Shashangan

shashangan · Posted: Wed May 29, 2013 10:31 am Post subject:

The mkt may possibly in a sideways range for some time, If I am not wrong

If you holding shorts of yesterday, Cover around 6070-68 partially (May) & move your stop to cost for the rest.

I am stepping out for some time. Catch up in the afternoon.

Thanks
Gautham Shashangan

shashangan

Channasri,

Posting a Hourly chart of 13 & 36 parameters Exponential Moving Avg.s.

It also works with Daily. Test it. If it works for you, use it. If not stick to your analysis.

Remember every tool has it's own limitations. So I am not saying this parameter reading can do wonders. It's just one of things which works sometimes. You need to look at other indicators & analysis to confirm the trend.

Thanks
Gautham Shashangan

shashangan · Posted: Wed May 29, 2013 1:29 pm Post subject:

Mkt looks like closing in Red today.

If I am not wrong, it may be sideways till 2.15 pm, before probably trying to break the low again. Doesn't look like crossing 6083 (May).

Min Lower target could be 6049 by 3 pm around. A move above 6092 can slow down the bearishness for now.

Thanks
Gautham Shashangan

shashangan · Posted: Thu May 30, 2013 9:19 am Post subject:

6102 -6080 could be possible Range for an hour for June
. Stops could be above 6111.

Regards
Gautham Shashangan

shashangan · Posted: Thu May 30, 2013 12:02 pm Post subject:

Place an order to Short June @ 6126-29 with tight stop 6156. Target open.

Be careful above *6166* June. There can be major intra day stops & will slow down the bearishness temporarily. Play cautiously. Play minimum. *1.20 pm*

Regards,
Gautham Shashangan

shashangan · Posted: Fri May 31, 2013 10:24 am Post subject:

If you have multiple entries partially cover @ 6054-52 for now & trail your stop for rest.

If mkt is unable to climb & hold above 6095, it could be bad for longs. Post 1.30 the next directional move may start I suppose.

Being the weekly & monthly close, It can be a choppy day. A close below 6037 is bad for longs & will form a inverted hammer for weekly close too.

Let's see.

Good luck
Gautham Shashangan

shashangan · Posted: Fri May 31, 2013 12:38 pm Post subject:

If not covered, cancel all your limits & move your stop to 6100 or 6080 & hold, If by chance there is a selling spree, you can make a fast buck.

You can take a chance if you wish to. Take your call. 6000-5995 could be possible target. Not quite sure though.

Thanks
Gautham Shashangan