Analysis of charts - discussion share ur views

[vishalalluri]

[:/QUOTE]

HI SUNNY

NICE THAT U LIKED MY POSTS WOULD SURELY IMPROVE AND MAKE IT MUCH BETTER

I GUESS u asking me why did I mention in the chart (point A dont enter)
( point B enter)

To make it more clearer point A is the first encircled point and point B is the second encircled point
At both these circled point rsi levels were down below 20 levels showing
oversold conditions now the point is how do we decide when to go long

after the steep fall till the price of polaris reached till point A the RSI levels had just started moving upwards from below 20 levels to neutral levels so we started to get bullish but we were not sure if would be a rally upwards hence we stay cautious we wait .............

we see in november the RSI actually rose to neutral levelsfrom october low of below 20 but it crashed back . we could see after the point A the price of polaris was very volatile in a range 36 -54

but during this time from A TO B RSI gave double top bullish signals of above 80 level S which confirmed that at point B RSI crosses upwards towards neutral and higher levels there would be a surge then we see a rally

from april to june we see RSI strong at 70 levels very poistive but levels of rsi make a negative slope from april to june showing some weakness and signalling if crossed down would see a correction


I DONT KNOW HOW MUCH I COULD CLEAR YOUR DOUBT BUT I TRIED MY BEST TO EXPLAIN WHAT I WAS TRYING TO DEPICT IN THE CHART

I HOPE I WOULD BE BETTER IN EXPLANATIONS WITH TIME TO COME

:thumb:

 

[vishalalluri]

thanks for that software. I was looking for one.

chart nexus is really good for beginners i tried my hands on everything from amibroker fcharts fibotrader after reading about them at traderji but was never succesful in gettin data s updated in any one of dem

PLEASE SHARE YOUR CHARTS IF U HAVE STARTED CHARTING END OF THE DAY WHAT MATTERS IS WE DISCUSS AND LEARN FROM EACH OTHER

 

[vishalalluri]

Good effort Vishal. Great going..!!!

While using multiple indicators for decision making, try to avoid multi-collinearity problems.

VK

HI VEEKAY

I had no clue what multi-collinearity was .thnks for striking it to me .

i guess what it means is if i am using two indicators like RSI and STOCH at the same time it doesnt make a lot of sense cos both move with each other SO USE OF ONE RATHER THAN TWO

THNKS

 

[veekay304]

HI VEEKAY

I had no clue what multi-collinearity was .thnks for striking it to me .

i guess what it means is if i am using two indicators like RSI and STOCH at the same time it doesnt make a lot of sense cos both move with each other SO USE OF ONE RATHER THAN TWO

THNKS

You are right... Both RSI and Stoch uses the same parameters and may give same results.

try using different types of indicators like OBV and Stoch along with Price and volume.

Bollinger band can be a different indicator to work with Stoch. MACD (though not fully) can also be tried with Stoch.

Always remember "Too much analysis leads to paralysis"

Needless to say, you are really doing a very very good job..:clap::clapping:

ST Sir or other seniors can lead you in a better way with their vast experience.

thanks
VK

 

[krm]

hi everyone

i just found a free chartin software which has most of the indicators and with historical data till date u can download it from


http://www.4shared.com/account/file/131373147/36ad83c4/ chartnexus_2_4_1_setup.html ( remove spaces before chartnexus)

or chartnexus.com


it works fine i have checked it
:thumb::thumb:

Sir,
Thank you very much for teaching us. Sir, I had downloaded the chartnexus, downloaded data also but chart is showing till 23rd march09 only. I had downloaded complete data.
Thanks
krm

 

[vishalalluri]

:thumb:

Sir,
Thank you very much for teaching us. Sir, I had downloaded the chartnexus, downloaded data also but chart is showing till 23rd march09 only. I had downloaded complete data.
Thanks
krm

hi krm

thnks for ur words but m noo sir sirjeee call me vishal

when u first time install chart nexuse all face the same problem u get the data till march 23 rd

have u registred ur username and password??

after registration open chart nexus>file> userlogin

when the login window opens click on network

a system settings window would open

1)check the proxy server and add ur ip address and port (( i guess woud be 2000)

2) uncheck the use authentication for proxy

after that u update evryday the eod data just by logging in

leme kno if you are not still able to update till date data

 

[vishalalluri]

Sir,
Thank you very much for teaching us. Sir, I had downloaded the chartnexus, downloaded data also but chart is showing till 23rd march09 only. I had downloaded complete data.
Thanks
krm

hi krm just posting page where u have to chnge the settings

 

[vishalalluri]

hi everyone

i have been working on a mixed combinational confirmation which includes
ichimoku analysis ,gmma and some linear progression lines and came to a conclusion that unitech is showing multiple confirmations and its near term short term target would be somwer around 125 -130 BUT again this would happen only if nifty and sensex don see a big correction :annoyed:

I AM NOT IN ANYWAYS TRYIN TO PROVE MYSELF TO BE A TECHNICAL ANALYST BUT ITS MY APPROACH TO CHECK ON SCRIPS AS MUCH AS I COULD

I ALWAYS USED TO WONDER THE STOCK TIPS IN REDIFFMONEY OR CNBC OR UTV I HOW THESE GUYS ACTUALLY PREDICT SO STRONLGY

BUT IN THE PROCESS OF LEARNING I REALISED THAT IT IS PURELY ON BASIS OF THEIR TIME IN THE MARKETS AND ALSO TECHNICAL INDICATORS

I HAVE NOT EXPLAINED WHATS ICHIMOKU OR GMMA TILL DATE IN MY THREAD BUT WOULD SURELY START IN SOMETIME

 

[krm]

Hi Vishal,
Got it. And it is really very good software and so easy to work. I tried fibotrader but was not able to configure it. But nexus is very good free software. Thanks for that.
Waiting for your next post.

krm

 

[vishalalluri]

hello everyone

i believe/hope that my postings are of SOME help to members of traderji
but tht itself makes me feel good and keeps me encouraged too

i would like to post something on an intresting trend indicator which actually could give a trader the confidence to get into a trade .

For gmma there is a thread at traderji started by traderji himself way back in 2004 so i thought an active thread would help newbies like me to discuss about these techniques i would keep this basics in more of my own language so that its lucid and plain

I WOULD NOT POST ANY HISTORY OF/AND GMMA BUT IN SHORT GUPPY WAS AN AUSTRALIAN TRADER WHO CAME UP WID THIS TECHNIQUE


GMMA - GUPPY MULTIPLE MOVING AVERAGES

These are two groups of exponential moving averages.

The short term group is a 3, 5, 8, 10, 12 and 15 day moving averages,shows the behaviour of short term traders and speculators in the market.

The long term group is made up of 30, 35, 40, 45, 50 and 60 day moving averages. shows perspective of the long term investors in the market.

so what happens here is each short term gropu of MA and long term group of MA they form a closter of moving averages and again like SMA EMA they show a crossover beetween short term and long term

if these move apart they show bullish/bearish signals depending on upward or downward crossover
similarly if the cluster gets weakened then we can guess markets are trendng weak
so in botton line the relship between the two groups tells us about the strength of the market action.

i have given a basic chart of GMMA what it would look like this is what i could get the best from internet for just giving a breif picture on what
GMMA is like what it looks like
so in the chart the short term group MA's 3, 5, 8, 10, 12 and 15 are shown by BLUE LINE AND LONG TERM BY RED LINE

we can understand the trend strength better with some charts giving a better perspective on what the real role of gmma could be .