Analysis of charts - discussion share ur views

[columbus]

Hi Prasadamji, Colombusji, sunny and bunny bhai, and Vishal bhai, and to all friends here in traderji.

I am posting a chart on TCS, made with a little bit of knowledge imparted by u friends here, please share your views and suggest me how to improve, my analysis.

Actually i have tried to draw two ascending triangles one with blue lines and other with black lines. In the second one (black lines) i have ignored two days that has gone above the trend line as an error and has tried to calculate the upward tgt. Can one make such type of assumptions while drawing T.L.
Thanks and Regards
Saivenkat.

Sai,

Excellant chart.It does not require any refinements.

 

[Sunny1]

HI SAI,
REGARDING ASSUMPTION, YES WE CAN make such type of assumptions while drawing T.L
ALSO THE TWO BAR WENT ABOVE HAVE VERY LOW VOLUME WHICH INDICATES WE CAN IGNORE THEM.

 

[SwingKing]

Hi Prasadamji, Colombusji, sunny and bunny bhai, and Vishal bhai, and to all friends here in traderji.

I am posting a chart on TCS, made with a little bit of knowledge imparted by u friends here, please share your views and suggest me how to improve, my analysis.

Actually i have tried to draw two ascending triangles one with blue lines and other with black lines. In the second one (black lines) i have ignored two days that has gone above the trend line as an error and has tried to calculate the upward tgt. Can one make such type of assumptions while drawing T.L.
Thanks and Regards
Saivenkat.

Sai,

Good work and to the point analysis. :thumb:

There are a few point I wanted to make regarding this pattern which furthermore will assert the validity of the same.

1) If you plot the MACD histogram for the same, then at every peak in the triangle, divergence is seen in MACD histogram. This is important because it signifies that at every peak, the bullish power seems to diminish.

2) On plotting the momentum indicator, the momentum of stock at every peak also diminishes further asserting the fact that the pattern's validity is indeed in place.

3) Volume throughout the pattern has diminished and this is often called the most important clue regarding the pattern's validity.

Always look for Divergence, Momentum indicator and volumes when trying to identify such a pattern. It will increase your odds of success.

Happy Trading and Keep up the good work.

 

[AW10]

Hi Prasadamji, Colombusji, sunny and bunny bhai, and Vishal bhai, and to all friends here in traderji.

I am posting a chart on TCS, made with a little bit of knowledge imparted by u friends here, please share your views and suggest me how to improve, my analysis.

Actually i have tried to draw two ascending triangles one with blue lines and other with black lines. In the second one (black lines) i have ignored two days that has gone above the trend line as an error and has tried to calculate the upward tgt. Can one make such type of assumptions while drawing T.L.
Thanks and Regards
Saivenkat.

Saivenkat, Nice analysis. If I can suggest an improvement in trend line then plz adopt the approach of channel trading with it.
You can draw a line Parallel to this TL, touching the high of chart at 660 level.
So you have a up-slopping channel. The upper line give u possible target.

While looking at Ascending Triangle pattern, also be prepared to trade the failure of it. If it doesn't break on upside, or breaks and on very next bar, comes back below the breakout level, then it gives great trade entry on short side. Enter short below the TL with stop at flat side of triangle.

There is no 1 correct answer in trading. It is game of probablity so we need to have plan ready for all situation.

Happy Trading

 

[saivenkat]

Dear friends

Friends, here i post the chart of Satyam Comp services, drawn with the little bit of what i learnt from here.
Please suggest me the areas of improvement for me.

Regards
Saivenkat.

P.S : What happened to my Guruji Vishal?

 

[vishalalluri]

Dear friends

Friends, here i post the chart of Satyam Comp services, drawn with the little bit of what i learnt from here.
Please suggest me the areas of improvement for me.


Regards
Saivenkat.

P.S : What happened to my Guruji Vishal?

hi sai and alllllllllllllllll friends
nice analysis have been away from markets as just joined in a company and have not been able to take out much time busy with my training schedule and other things , now after long getting back on track an dmanaging to take some time for markets .
as its been a short break i am not able to get where to start from movements in markets have been as predicted 4500 change and now back to 4989 , he he 5080 acting as resistence again i guess .

4945 also looks like a first support to the market .

hey sai polaris sometime back u wanted it at 175 i guess u got that levels from the last week of october

once again i wana say a biggggg hiiii to allll friends :clapping:

 

[vishalalluri]

Dear friends

Friends, here i post the chart of Satyam Comp services, drawn with the little bit of what i learnt from here.
Please suggest me the areas of improvement for me.

Regards
Saivenkat.

hi sai
though cant add much but liked ur work even i feel thers more downside for satyam left there has been a -ve adx crossover on 13th also and the -ve and +ve are diverging apart

let see wats left

 

[saivenkat]

hey sai polaris sometime back u wanted it at 175 i guess u got that levels from the last week of october

Thanks vishal, for earnest response. You have a good memory. I got rid of polaris at 175 lvls, and TCS at 695 lvls a few days back.
Take care.

 

[vishalalluri]

posting today updated chart for crompton

hi guys was just looking at some charts and thoug would review some old charts what i ahd posted updating with current positions

 

[columbus]

Last year at this time around ,cromptgreaves was trading
at 170/- levels.