iCharts Discussions

shashangan · Posted: Mon Jan 14, 2013 10:51 am Post subject:

Yes infact even I had mentioned the mkt will stop & could see some buying below 5975, But I didn't have guts to go long. I have been continuously shorting the mkt on pull backs than going long.

Good one & lucky one for you, since it opened higher as well

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Well I booked my shorts and went long on friday afternoon the moment I saw that nifty took support from lower TL drawn from low on 8/1. It has not crossed above upper TLs from highs which is about 6007 and 6015.

shashangan · Posted: Mon Jan 14, 2013 11:01 am Post subject:

I also had feeling, there would be correction, but didnt expect mkt to open so high.

The other fear the mkt closed really at low, breaking the 5982 support & it had made scary formation as per candle sticks is called 3 crows pattern, though not perfect 3 crows, but it's a big trend reversal pattern.

I had a doubt the mkt will go down today, so didnt post about the 3 crows.

Anyway I have been cautious with my calls also past few days. Let's see how it goes.

Gautham Shashangan

shashangan · Posted: Mon Jan 14, 2013 11:20 am Post subject:

The mkt can possibly see some buying from 6007-04 for now.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

3 crows in which tf gautham?

shashangan · Posted: Mon Jan 14, 2013 11:53 am Post subject:

Daily Nifty chart. Check Attachment. YOu can google search for 3 Black Crows or 3 Marching soldiers pattern to understand it.

Thanks
Gautham Shashangan

shashangan · Posted: Mon Jan 14, 2013 12:02 pm Post subject:

6030 may hold for sometime. I think most probably again there could be selling from around 6030 region for correction back to 6005 region.

Thanks
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

oh I know them but I hadn't been able to see any chart on weekend. you are right, they are not perfect.
thanks

shashangan · Posted: Mon Jan 14, 2013 1:18 pm Post subject:

Place an order to Short Jan @ 6043-45. Stop 6062. Target Open. Possible 6005.

Gautham Shashangan

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805

SP50 · Brown Belt Joined: 26 Nov 2010 Posts: 1615

shashangan · Posted: Mon Jan 14, 2013 2:33 pm Post subject:

For now keep it for intra day. You can carry if you have back up.

Depends on each individual risking capacity

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

sold longs again and shorted a bit

shashangan · Posted: Mon Jan 14, 2013 3:10 pm Post subject:

Sorry mkt seeing some buying, but again I feel as per my view there should be heavy selling from 6061-65 region.

You can amend your stop to 6075 if you want to hold or keep it naked if you have back up without stop. It's your decision.

I could be wrong though.

Gautham Shashangan

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805