iCharts Discussions

[DH1988]

casper ji tatamotors has changed thr way or not?

[casper]

it closed around the support zone of 1150, if 1150 is broken then only may go down,
supports are 1153,1138 and 1115, and may go up if it opens with a gap down, but then too i dont think it may go up beyond 1200,

and if these supports are broken, then will come down heavily up to 1075

[casper]

UPDATE ON TATA MOTORS

just saw in the news paper that tata motors is now the most valuable brand in india.now god knows how the market will react on this story, plz take care of ur shorts, though its in the process of correction, still it has almost reached the support zone, so plz b careful

[DH1988]

dont worry sir ji market ki lagam pakdi hui hai thx very much

[casper]

[DH1988]

Boss!Did u see control on nifty?pls tell me ur view for nifty,dlf,bharti....

[casper]

nifty is a tough thing for me, i personally follow sraj sir,
but still trying
see the charts, nifty has two crucial support at this level,
1. flat trendline support
2. lower channel support
and its a fact that 6000 strike put has highest open interest in oct/nov series,
so if tomorrow nifty manages to close above 6000 then ok, or else i expect a 100 pt downwards

and it will form lower high/lower low formation, which may dampen our spirit for short term also

bhartiartl: a green candle with good vol after taking the crucial support at 315, now resistance is seen at 340.355.360

dlf:down trend with increased vol, support at 330,345.350 while resistance at 364 to370

[DH1988]

bank nifty???sir ji

[casper]

bank nifty has got support at 1200 level,(tl +lower bb) if it sustain then next levels will be 12500,12750, above that a bo may occur which will take it up to 13500.

if this 12000 is breached the target at lower side will be 11500,11250

[jasvin07]

casper ..any idea about tcs..for short term?

[casper]

hi jasvin07,
tcs has formed a small pennant like formation is eod chart, but the pb is bo is not accompanied by increased vol, so it may consolidate at the present level for some time,
presently upper level is capped at 1100, widout incresed vol, i dont think it would be able to break out that.
while, support levels are 1060,1042,1025

[Allwell]

Sir,

Bought Maruti @ 1508 and ONGC @ 1380. Any idea about both the stock ? Why the Maruti not take part during the last 300pts. Nifty rally ?

please put ur view

Thanks and Regards

[casper]

hi dijyya,

ur questions can be explained with bollinger band method (bb).
it is a continuous band which is derived from 20sma and envelops the price move to show the possible volatility of the security. it is generally noticed that the upper and lower bb provide the greatest resistance and support respectively.

in case of maruti not taking part in the bull run, plz notice that maruti almost reached upto the upper level of bollinger band before 1st november.(the day bull charge started) so in order to go upward it needed to breach the upper bb, but as no breakout happened, it could not clear the bb and after facing resistance at upper bb, came to a gradual mild downtrend followed by consolidation.

now, u have got maruti at 1508, its a support level, so we can expect maruti to move upward with a target of 1565,(the upper bb), unless this level is broken, the stock will face resistance and will head back to 1472 level, 1500 level will act as a mid point,
(plz do note that bb is a continuous band, it is derived from 20sma, so the upper and lower levels will change day by day depending on the change of the value of 20sma, but in short term,say 2/3 days, dont expect a huge change here)

in case of ongc, we have unfortunately entered at the upper level of bb so a good upside is possible ONLY AFTER BREACHING THE UPPER BB which is presently at 1391, untill it is breached, the stock will, after facing resistance, will head back to 1296 level (the lower bb), 1340-1360 will act as a supportive zone during the move

(from ur query, i think u r interested in positional trading, i will VERY STRONGLY RECOMMEND U TO USE BOLLINGER BAND TO KNOW THE POSSIBLE RANGE OF THE SECURITY BEFORE U TAKE A TRADE, ALWAYS TRY TO BUY AT LOWER BB WITH A GREEN CANDLE,THE GREEN CANDLE AT THE SUPPORT LEVEL WILL MARK A POSSIBLE START OF AN UPTREND)

[measoldier]

hi casper, i have areva t&d at 306 thougt it is a breakout at 300 as volumes were high now seems taking support at 200 EMA viz 293 seems my trade going wrong . guidence required that it was a true bo or false pls clarify

[Allwell]

Thanks Casper for your detailed analyses. YES, you are right that I have bought both the stocks Maruti and ONGC for positional trade, I will definitely try BB as per your suggestion in future.

Thanks once again....

(dijyya)