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Trading Price action setups.... |
sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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Post: #16  Posted: Wed Oct 14, 2015 3:05 pm Post subject: ORIENTBANK...5tf |
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ORIENTBANK...5tf
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Let's see |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #17 Posted: Wed Oct 14, 2015 3:35 pm Post subject: Re: TATACHEM |
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| simply.index wrote: | Two stocks looking good.
(uptrend)Tatachem : made morning star on weekly charts, y'day closed @ 414.30 resistance at 420/430
(downtrend) recltd: touched 100 MA on weekly and reversed. Closed below 20 MA y'day support at 253/240 |
Thanks for the input. However, I have contrary views here in TATACHEM (and I may be wrong also)... Still putting in words whatever I could see and interpret :
It fell from 520 to 380, and the fall was more sharp from 460 to 380... A retrace and further down move was expected... The fall was arrested in move "A" ..
Move B started up move with expectation. But soon it started showing sign of lack of conviction in the form of slowed momentum ("C") towards resistance along with narrow ranges and wicks at tops ..
Buyers at bottom might be booking out , and new longs are not much interested.. so new shorting may appear at this level.... Below 400 we can again see 370 levels... |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #18 Posted: Wed Oct 14, 2015 3:43 pm Post subject: Re: ORIENTBANK...5tf |
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| sumesh_sol wrote: | ORIENTBANK...5tf
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Let's see |
Stopped out... Proved to be early entry... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #19 Posted: Wed Oct 14, 2015 5:53 pm Post subject: |
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Tech M - negative WW daily
confirmation below 544 cmp 547-549
Can rise to 555. Stop 568/572
Target 532 demand zone/ 511 up channel bottom trendline target / WW lower target
Also broke today symmetrical triangle on 30tf.....below 200sma on 30tf
At point 5 (583) upthurst bar clearing previous high by a small margin distributed on higher volume.... Then into smaller spreads red candles.... Finally broke triangle today.....
Caution : above 544 trendline from bottom is not violated; and it may go sideways from 544/560-580
Last edited by amitagg on Wed Oct 14, 2015 6:06 pm; edited 1 time in total |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #20 Posted: Wed Oct 14, 2015 6:01 pm Post subject: Re: ORIENTBANK...5tf |
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| sumesh_sol wrote: | ORIENTBANK...5tf
=======
Let's see |
Hindsight (made easy) evaluation:
The big green candle did not clear the highs/ no 2 candle closing above previous highs...... Bulls lost force with HV ( high volume) bar unable to clear.... "As usual" normal retrace, "test" failed to reach the previous high......
Long could have been after a successful test or 50 percent of big green candle ( which it probably was) or previous successful test of support at 144.5 |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #21 Posted: Thu Oct 15, 2015 10:37 am Post subject: MCLEODRUSS...60tf |
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MCLEODRUSS...60tf
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Buying abv 176 for 180/185.
please check with yr study |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #22 Posted: Thu Oct 15, 2015 1:01 pm Post subject: |
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| amitagg wrote: | Tech M - negative WW daily
confirmation below 544 cmp 547-549
Can rise to 555. Stop 568/572
Target 532 demand zone/ 511 up channel bottom trendline target / WW lower target
Also broke today symmetrical triangle on 30tf.....below 200sma on 30tf
At point 5 (583) upthurst bar clearing previous high by a small margin distributed on higher volume.... Then into smaller spreads red candles.... Finally broke triangle today.....
Caution : above 544 trendline from bottom is not violated; and it may go sideways from 544/560-580 |
hit 555 at opening resting at 544 now..... will it give  |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #23 Posted: Thu Oct 22, 2015 9:02 pm Post subject: BAJAJ-AUTO...30tf |
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BAJAJ-AUTO...30tf
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Breakout above 2480 sustaining... Long may be initiated near 2516 OR abv 2530 for targets of 2570 / 2600, with SL 2510 CC on 30tf...
Please check with your study for any trade.. |
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