Analysis of charts - discussion share ur views

[vishalalluri]

My bias is up(or long).
NIFTY index: http://www.rohanshenoy.net/stocks/charts/nifty-index-2009oct22.png
NIFTY future: http://www.rohanshenoy.net/stocks/charts/nifty-future-2009oct22.png

NIFTY index is near supported line(somewhat manipulated)
NIFTY future show decreasing open interest.

hi bunny

what i mant to say is about tommorow if opens down then 4945 and 4920 might be tested

4920 which would act as a strong supppportt
then rallies back towards it uptrend

can u share with me some of ur knowledge on open interest and its relevance with movment in scrips

like if say 21 lakh shares added up in open interetst for a share then what so we intrepret
might be a silly query

the fact remains i have not entered f&o still so not concetrated on oi

 

[bunny]

hi bunny

what i mant to say is about tommorow if opens down then 4945 and 4920 might be tested

4920 which would act as a strong supppportt
then rallies back towards it uptrend

can u share with me some of ur knowledge on open interest and its relevance with movment in scrips

like if say 21 lakh shares added up in open interetst for a share then what so we intrepret
might be a silly query

the fact remains i have not entered f&o still so not concetrated on oi

Definition of OI:
http://www.investopedia.com/terms/o/openinterest.asp

Further on OI: http://www.tradingpicks.com/open_interest.htm

Futures always move before the cash underlying moves. This is because the operators are building up position in futures first and then thrusting the cash underlying(to prevent arbitraging).

If operators are expecting the market to go down, they will short more and you can see increase in open interest.

Decreasing OI means that larger players are closing their positions. And they are closing their positions because they are expecting a turnaround.

 

[bunny]

Also,
Today's bar is wide-spread down with high volume. Chances are that this is a shakeout.

 

[AW10]

nifty has shown close below the primary trend line

nifty looks weaker, guppy has shown crossover downwards

3,5,20 MA converged today in the candle so tommorow's movement may be important to see if nifty is able to move above the trend line or it will test 4920 as the support and then next 4980-85 which is the 61.8% retracement levels

any views anybody please share

Vikas, in my view, probably we can see right shoulder of H&S in next few days if any green day is not able to cross the Trend Line convincingly.
Just 1 day of close below TL is bit less to tell that a 2 month old TL is broken.

As always, there will be retest attempt for this break.. S&P and Dow has made this retest move yesterday.. and back at double/triple top level once again.

lets see what comes next..

Happy Trading

 

[AW10]

can u share with me some of ur knowledge on open interest and its relevance with movment in scrips

Plz chk out the doc attached in this post by RKKarnani
http://www.traderji.com/options/34089-tracking-put-call-open-interest-2.html#post371959

Happy Trading

 

[chetanparmar]

THE REASON ME STARING THIS THREAD IS I HAVE FINISHED MY MBA THESIS

ON TECHINCAL ANALYSIS TOPIC BEING

"" ROLE AND IMPLICATIONS OF TECH ANALYSIS IN BETTER TRADING DECISIONS"""

HOPE I COULD COME UPTO EVERYBODY EXPECTATIONS

:cheers:

Hi can you please send me the project report. As i think, that would be a better option to start understanding technical analysis.

 

[vishalalluri]

Hi can you please send me the project report. As i think, that would be a better option to start understanding technical analysis.

hi buudy


As those were my early days
( final semester 6 months back ) of interest being built up in markets and TA my thesis is limited to say 6 or 7 indictaors but one thing its very lucid so might help u


it was only during the process of making it and later i explored more into TA

send me ur mail id ill forward u in the mail , if it could bring in any help to u ill be glad .

traderji is a thesis within itself explore traderji starting with teach a man

:thumb:

 

[vishalalluri]

nifty na ghar ka na ghat ka

kabhi green kabhii red :annoyed:

its not leaving 4995

 

[chetanparmar]

hi buudy


As those were my early days
( final semester 6 months back ) of interest being built up in markets and TA my thesis is limited to say 6 or 7 indictaors but one thing its very lucid so might help u


it was only during the process of making it and later i explored more into TA

send me ur mail id ill forward u in the mail , if it could bring in any help to u ill be glad .

traderji is a thesis within itself explore traderji starting with teach a man

:thumb:

[email protected]

 

[chetanparmar]

hi buudy


As those were my early days
( final semester 6 months back ) of interest being built up in markets and TA my thesis is limited to say 6 or 7 indictaors but one thing its very lucid so might help u


it was only during the process of making it and later i explored more into TA

send me ur mail id ill forward u in the mail , if it could bring in any help to u ill be glad .

traderji is a thesis within itself explore traderji starting with teach a man

:thumb:

Hey

You write great posts. I would like to ask you a few questions-

1) How do you analyze stocks on a daily basis? Why do the tips for stocks change on a daily basis?
2) There are so many stocks, how do you select the right script to book profits?
3) I want to learn Technical Analysis.Can you please refer me some links or ebooks which can be downloaded regarding this.
4) Can you please tell me a way to start with the Technical Analysis. I am confused, what methods to use for technical analysis at the beginning? There so many methods of technical analysis,Which method can be used for at the start?
5) Also, can you please tell me that, when should you perform technical analysis? During Market Hours, or after Market Hours?

My technical analysis would be only based on Equities.