iCharts Discussions

[swaroopbn]

Hello All,

Posting two charts.

Chart I - Nifty made a descending triangle and upon BO the TGT was achived in a flash .

Chart II - Was able to locate a symmetric triangle. Upon BO @ 2860, Nifty is running hard like last time and there is no looking back. Are we going to achieve the TGT in this month. Just to add NF Monthly R3 is around same level.

Cheers,
SW

[naresh1711]

HI

Triangle observations are alright , can u throw some light on tgt calculation & any reason for them to vary incase of different kind of triangles as case in point.

Thx & Regards

[swaroopbn]

The rise from BO pt is normally => triangle height.

Tgt = BO Level + Triangle Height

You can see in both the charts the triangle height and projected tgts are equal (marked with "=" sign).

[anshuman]

Swaroopbhai ,

Election fever ka aasar dhik raha hai

I think in a bear market the BD targets are easier to achieve than the BO targets because of the countertrend nature of the momentum. So if we really achieve the BO target my call is bear market is over.

For the time being lets retrace some of the upmove and start the journey again.

Anshuman

[swaroopbn]

I always keep to my TA simple because I am very poor in understanding complex technical stuffs

I just tried my hand on drawing the current channel (s) using recent trendlines.

The current set up shows, NF's fall is/will be arrested @ 3300. If it breaks 3300 it may go till 3240 and serious shorts will be created in the system only below that... imho

As the expiry (30th April 2009) is nearing, NF sud trade in the range 3300-3500 with a +ve bias.

Cheers
SW

[amitrajangulati]

Swaroop sir,

Awaiting your guidance on how to calculate entry & exit points for intraday trading

Thanks & regards,
Amit

[swaroopbn]

Amit Sir,

Not an issue. We can discuss any time.

However, DT is a risky business and requires full attention during trading hours. One should evaluate his risk appetite before he jumps into DT.

Swing/Positional trading is better and gives least heart breaks if done with discipline .

For an example - the recent swing Buy call generated @ 3300 (based on my posts below) levels have yielded 200 pts till date and still good to go for the final tgt 3580.

Regards,
SW

[swaroopbn]

Hello - It's time to update the diary with recent chart formations .

Please refer the Pic below. There is an inverted Head & Shoulder Pattern is 60 Min NF chart and the BO has already happened. The tgt is around 3600.

Are we going to achieve these levels before expiry?

My bet - we should achieve our positional tgt of 3580 on Monday. Coincidentally the Tgt is also hitting the upper rising trend line (pls refer the Posts/Pics below for current Channel).

Hardly anyone beleived that 3500 will come again in this series. Talks were ripe for the rally (or bear mkt retracement ) being exhausted and a dip correction.

Markets again proved to be supreme above all the analysis.

Cheers,
SW