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WW ON EOD CHARTS |
ad09
White Belt
Joined: 07 Aug 2010
Posts: 16
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Post: #256  Posted: Fri Feb 22, 2013 12:18 am Post subject: |
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your view on lic housing is this correct
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #257 Posted: Fri Feb 22, 2013 8:56 am Post subject: |
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| ad09 wrote: | | your view on lic housing is this correct |
It's fine.It's almost near the target can not be traded now.Some people are not comfortable with diverging channel.Diverging or converging as long as they tell us the direction and get you profits why should we bother.
A caution here, be carefull with extremely divergent channels,better not to trade them.
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #258 Posted: Fri Feb 22, 2013 9:48 pm Post subject: |
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| rk_a2003 wrote: | | ad09 wrote: | | your view on lic housing is this correct |
It's fine.It's almost near the target can not be traded now.Some people are not comfortable with diverging channel.Diverging or converging as long as they tell us the direction and get you profits why should we bother.
A caution here, be carefull with extremely divergent channels,better not to trade them. |
rk_a2003
You rightly pointed out
Some people are not comfortable with diverging channel
Reason being in diverging channels ETA will never happen
And I second your concluding lines but with some modification
"A caution here, be carefull with extremely divergent channels,better not to trade them."
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #259 Posted: Fri Mar 01, 2013 9:44 pm Post subject: |
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This +ww appears to be a bit weak.Moreover we don't know when a midcap crashes.The prior two ww's one bearish and one bullish both met targets.
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sureenderkalra
White Belt
Joined: 11 Dec 2012
Posts: 174
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| Post: #260 Posted: Sun Mar 03, 2013 7:53 pm Post subject: -WW BPCL - EOD CHART |
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BPCL formed -ww some days back and already come below the channel line. It might be sold here in case it doesn't break small -ww channel line upside and psar doesn't make crossover.
This is just my opinion for BPCL. Please do your analysis too before you trade.
Regards
Sureender Kalra
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mozillan
White Belt
Joined: 15 Apr 2007
Posts: 21
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| Post: #261 Posted: Sun Mar 03, 2013 9:51 pm Post subject: KingFissure |
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| pkholla wrote: | | vinay28 wrote: | | rk, invest in ifci? Or trade? It' a sick firm. |
Vinay: invest in KFA? Or trade? It's a sick firm with a sicker owner and a sickest bijnais strategy
Aap abhi bhi long hai kya is share me, latest chart dekha hai kya???
Cheers, Prakash Holla |
At one time Vijay Mallya had piles of cash. Now the cash has gone and only piles remain. This condition is known as KINGFISSURE. 
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #262 Posted: Thu Mar 07, 2013 9:58 pm Post subject: |
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1st chart was posted on 14th Jan. After a prolonged waiting Infy reached our anticipated levels.
Now overshoot in weekly –ww is also present, but as of now IT sector including Infy looks pretty strong. At the onset of a bearish candle in EOD time frame adventurous traders can attempt shorts with prior high as SL or just above 3100 in case it has not breached that level.
Conservative traders may look for a bearish candle In weekly charts and can attempt a positional short with high at point 5 as SL.
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #263 Posted: Thu Mar 07, 2013 11:07 pm Post subject: Re: KingFissure |
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| mozillan wrote: | | At one time Vijay Mallya had piles of cash. Now the cash has gone and only piles remain. This condition is known as KINGFISSURE. |
Wah! Ustad! Prakash Holla
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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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| Post: #264 Posted: Mon Mar 11, 2013 10:52 am Post subject: |
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Nifty weekly -WW.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #265 Posted: Wed Mar 13, 2013 10:21 am Post subject: |
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| rk_a2003 wrote: | 1st chart was posted on 14th Jan. After a prolonged waiting Infy reached our anticipated levels.
Now overshoot in weekly –ww is also present, but as of now IT sector including Infy looks pretty strong. At the onset of a bearish candle in EOD time frame adventurous traders can attempt shorts with prior high as SL or just above 3100 in case it has not breached that level.
Conservative traders may look for a bearish candle In weekly charts and can attempt a positional short with high at point 5 as SL. |
Aggressive traders rewarded.Took short at the end of the day on the first bearish candle formation at around 2986.Now after 3 days 100 points reward.Thought that it may take support around 2900 cash but cracked down, right now no worry for shorts.But mind it it is still a retracement.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #266 Posted: Wed Mar 13, 2013 4:01 pm Post subject: |
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| Infy is consolidating around 2860 range without responding to the fall of Index. What for this consolidation.Is it for an upmove.Let us see.SL for short trdes can be around 2905 spot.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #267 Posted: Wed Mar 13, 2013 10:53 pm Post subject: |
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| rk_a2003 wrote: | | Infy is consolidating around 2860 range without responding to the fall of Index. What for this consolidation.Is it for an upmove.Let us see.SL for short trdes can be around 2905 spot. |
This 2860 region is lying on UTL (Look at the chart) . So, it means INFY is taking support here at least as of now, and there is a bright chance of going up from here in case it gets a little support from index.
The next support for INFY is coming around 2800-2750 zone which is going to be really strong support. If this level is breached then a steep fall and correction can be expected, otherwise your TSL should come for your rescue.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #268 Posted: Thu Mar 14, 2013 5:06 pm Post subject: |
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Look at the comparative charts of DOW and NIFTY. We cannot say that there is no correlation between them it may not be directly proportional but some sort of co relation does exist.
Well,Dow made a –ww pattern with overshoot. How long this overshoot can extend; we don’t know. Once a bearish candle is formed we may assume that the down trend started, still there is no guarantee for its continuation. We may keep on hoping it to go down till the overshoot extends beyond permissible level…
One thing is sure once US markets went for correction Indian markets cannot go up. They too should correct. In fact Indian markets are looking tired when Dow is registering new highs day by day. For Dow to go for a correction it may take a big bang news, otherwise it’s not that easy for it to come down.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #269 Posted: Fri Mar 15, 2013 8:50 am Post subject: |
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| Yesterday DOW went up again.It's a consecutive 10th day upmove.Is it a record? .....I don't know.
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #270 Posted: Fri Mar 15, 2013 10:11 am Post subject: |
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| wait for next week, RK.
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