iCharts Discussions

devd · White Belt Joined: 16 Sep 2010 Posts: 12

Thanks Manju Sir.

Will it be a good idea to go short of IDFC & Hindalco with a view of March 11 expiry??

singh.ravee · Yellow Belt Joined: 12 Aug 2010 Posts: 678

Manju Sir,
Kindly post the chart of nifty, with your analysis, based upon which u decided to go short, if possible.
Thanks and Regards
ravee

P.S.: I have seen many of your charts and tried to understand. In this nifty eod chart as posted by you in the morning, since nifty is close to a TL, one can expect it either to break or get rejected. Depending on the intraday chart, one can decide whats more probable, rejection or breakout, and then can play accordingly. Like in today's case, nifty gapped up and failed to move ahead, reflecting weakness and hence a short is more favourable. Pl bear my wild guesses on your work.

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Well ravi i had mentioned it pretty clear that there are multiple resistance at 5600 levels here are few to list..
1.muntiple trendlines
2. previous tops at 5600
3. 200 DEMA
4.50 DEMA
5.40 period EMA on weekly charts..

These are quite big restance and i dont see a run away rally happening as we had a good rally for past few days so my reasons for short call was based on above reason and my previous experince in mkt (u can say my gut feeling or common sense).. i never use any intraday charts to enter my trades and also remember that when mkt men are bullish u need to be catutios and i m of the feeling that it ll be a pain full mkt for next few weeks..

Regards
Manju

paa · White Belt Joined: 28 Sep 2010 Posts: 178

Hello Sir!
I am new to this market. Please guide me if i can puchase now or should i wait.
I have a little amount to invest i.e 5000 per month. i don't want to go with mutual funds or ulips.

Regards
Pramod

singh.ravee · Yellow Belt Joined: 12 Aug 2010 Posts: 678

Manju Sir Hello,
Read ur entire thread. Your method is very simple and superb.
Regards
ravee

senthilkumar2222 · White Belt Joined: 22 Dec 2010 Posts: 32

Dear manju sir
I would like to create a short position in BHARATFORGE FUT MAR SERIES CMP 337.00.can i go short at this level?.pls comment on that sir.

senthilkumar2222 · White Belt Joined: 22 Dec 2010 Posts: 32

Dear Manju Sir
Im eagerly waiting for ur comment on b.forge

Thanx & Regards
Senthilkumar.V
Coimbatore
Tamilnadu

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Hi,

Sorry for the delayed response... well u can probably short it below 330 well on the upside above 340 it can give good spike....all the levels mentioned are in cash..

Regards
Manju

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Here are few Stocks with Inverse H&S formations....

Wipro - Close above 455 the stock can head back to 465-480 levels in short term...

Ambuja cement - stock above 125 can flare up by 7-10 rs..

Axis bank - can be bought above 1350 levels possible tgt of 1370-1400 and in medium term can do lot more

Well then there are other stocks which can hog the lime light..

PNB - above 1130 or below 1050 can witness some good action..
Aban- the stock is in a range of 610-560....

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Nity one can close Nifty shorts entered at 5600 levels as mentioned a probable downside risk of 150 points.. i think 5450 levels should hold so eixt full position...

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Hi promod,

Well thats a good thing what ur planing to do.. when ur doing a SIP in mkts here ur investing every month so in long term u ll ve good avg value so for investor i would suggest to buy even at current prices there are many companies with through away prices avilable so do some home work and buy good value stocks sure u ll have good returns from it..
Regards
Manju

anand1234 · Yellow Belt Joined: 17 Jul 2010 Posts: 830

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Hi anand,

There is still a risk of another 100 points downside and more over i m not a big fan of options buying... still there is a lot of uncertainty in mkts so would suggest u to wati for some time before u do something else.. we got a good 150 points dip in nifty close to 3% return so the best thing to do is wait we might get another 3-5% move...

Regards
MAnju

devd · White Belt Joined: 16 Sep 2010 Posts: 12

Manju Sir,

As mentioned earlier, I am new to technicals. If I have to get started and learn TA, what is the right way?? Any books / classes?? Kindly guide.

DevD

as4manju · White Belt Joined: 22 Mar 2007 Posts: 390

Wel Dev there are plenty of books avilable in the mkt and there people who charge u good price of 10-12k for a two day work shop but u cant expect to magic from it so the best way to as per me is pick a book then just read then try to relate it to the charts what u see on this sites there are diffrent people with diff aproach next is try and to do it ur self by trial and error method...

Always remeber that TA is a art and not a perfect sience so no one can teach u painting u need to learn it urself..

Regards
MAnju