iCharts Discussions

[casper]

hi anand,
personally i would like to wait for a closing above 70, today it touches 70 but could not sustain,plz see the chart, i prefer a real body penetration rather than a upper shadow penetration,so i will rather wait

if u have already taken a position in it then there is also not much prb,because i strongly expect that tomorrow, through gap up opening, mtnl would open above 70 and then this 70 level will provide sufficient support

ps:- in every form of bo, the ideal law is that the expansion in price is supported by volume, here also the volume is increasing significantly, so the chance of bo upto 80 is significantly greater

[DH1988]

is this break out for ambuja or just bubble?pls tell me sir

[casper]

in cash segment- ambuja has shown a continuation, it has a support of lower bollinger band around 137-135, with that support it has clear a few important ema resistance viz 13 ema and 20ema today,one can buy the stock in cash with a target of 150 to be achieved in short term

in future segment- it has got a trend line support of 140, now here the target will be 148, the time frame will be the same

its not a case of bo as volume is rather decreasing, but then if u want to say a double bottom has formed then the" bo" will be above 145 and the target will remain same that is 148-150 max (for short term)

ps- if u want to know about common features about break out and rules to find them with less mistakes (both for positional and intraday) plz say, i will try my best to provide the same

casper (after all casper is a friendly ghost!!! )

[DH1988]

Sir!which ema's r best in future stocks!

[DH1988]

sir!now tatasteel and ambuja cement wht will they do? both r shorted aaaaaaaat highr levels!

[casper]

future target of ambuja may be 139,136
whereas in cash, target will be 135,140, but narrow bollinger band suggests that a trend less movement may start from here,

tata steel future is going up, it may go up to 680-700, it has support at 646,637 levels, in case of trend reversal , it will try to find support here

the function of ema depends on ur trade time frame, as a day trader u can use 5ema, if u want to take btst position then u may use a combination of 5 and 13 ema, a short term (5-10 day) trade may go for 21/30 ema combination,
in fact there is no hard and fast rule, every stock does not necessarily response to every ema, so in order to know u have to back test to find if that particular stock is taking support/resistance at that ema or not,
i personally use 13/20 combination, though at times i add a few other emas to verify,
in his posts ST SIR has taught us to use 89/34 ema combination on 5 minute or higher time frame chart to carry out intraday trading more successfully
in addition, i hv read CHORME's post about perfect ema cross over,he uses 105/200 ema on 5 min chart to find out short term stocks, that too useful.

normally2,6,10, and 21ema are used for intraday and short term purpose
and,21,30,40,90 ema are used for long term perspective

[DH1988]

casper Sir,tata motors???pls tell me ur view,i m shorted today at higher

[casper]

near term resistance is 1200 and near term support is 1150, (ema and trend line support) i think it should come down to 1150 given the market sentiment and every time it touched this ema+ trend line, before moving upwards from august 30,
however yesterdays close was bearish spinning top, showing confusion among the traders, it came down on market move so if today's trade remain bearish, then it may come upto 1150

[girishhu1]

[DH1988]

casper sir...Thx for tatamotors .Now today L&T shorted at 2029,will it come to 1950,with in three trading session?pls tell me ur view..... stiil holding tatamotors

[casper]

expect strongest support at 1150 for tata motors, if this support is broken, then following supports are 1132,1108 and 1050, but 1150 is going to be the strongest.

L&T shows a sideways to bearish movement, i dont think it will come down 1950 very easily. lower end of bollinger band (20,2- standard setting) is going to offer good support, so for me the immediate level is 1982 to watch for, expect 1950 only if this level is breached by closing

[DH1988]

HUL???

[casper]

sorry, got late 2 reply,
hul= morning star formed, target 310-315, support at 297,294,290

[deep_gagan]

[casper]