Chart patterns

[mahesh2007]

Bro any view on this chart????? of walchandnagar

weak formation inside a falling wedge, formation restricted inside a triangle.
decreasing vol and receding deliverable quantity also supports the weakness.
First Sl is 203 and for little daring trader 193.

BSe 52 weak high is 258,that's why overhead supply is putting the pressure.
Only hope is strong institutional buying.

 

[vishalalluri]

Bro any view on this chart????? of walchandnagar

MAHESH THAT WAS NICE AND SIMPLE THNKS FOR UR VIEWS

WOULD LIKE TO GIVE MY OBSERVATION

PRICES ARE MOVING BELOW THERE 15 DAY AN 45 DAY MOVING AVERAGE

CHANCES OF A BREAKTHROUGH IN THE UPWARD DIRECTION ONLY ABOVE 216

but the scrip is showing weakness as the current trend is down

LAST 15 BARS THE SCRIP HAS BEEN VERY LESS VOLATILE

CONFIRMATION SHOULD BE TAKEN ONLY AFTER WE GET A PURE 3/15 UPWARD BREAKOUT (THEY ARE MOVING PARALLEL NOW )
A SELL SIGNAL WAS GENERATED ON 15/10

RSI WEAK AT 28 THOUGH RISING BUT PRICE MA SETUP NOT

 

[vishalalluri]

would keep a track if 540 levels is tested at support for tata steel

 

[mahesh2007]

Only hope is strong institutional buying.

Never thought,this to happen on a day like today.

 

[vishalalluri]

Never thought,this to happen on a day like today.

lol very true buddy

 

[krm]

Hi Vishal,
Had u purchased amibroker? If yes, what it costs?
Also will like to know ur views on SCI.
Thanks
krm

 

[krm]

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[vishalalluri]

Hi Vishal,
Had u purchased amibroker? If yes, what it costs?
Also will like to know ur views on SCI.
Thanks
krm

hi krm

im using a trail version of amibroker
not still a professional trader and cant afford to buy the software

sci looks weak from my perspective

 

[vishalalluri]

would keep a track if 540 levels is tested at support for tata steel

tata steel tested at 545 today lets see how strong would be 540 as a support

 

[vishalalluri]

tata steel says im not going below 540 :rofl:

i guess this correction would help everyone to participate in the rally again :clapping:


wish to enter the market at 4920 would i see it ????