Charts for the Day

[Prabhan]

From my wolfe archives

IDFC has formed a +ww on 27.8.14 in daily tf for a target of 160 that may overshoot to 166/68

A good sign is that IDFC has not broken 1-3-5 line after forming this wolfe and now located well above 2-4 line

Hi Umesh Ji,
I could not see +WW in IDFC daily chart. +WW to trigger, prices shd breach 1-3-5 line but point 5 didnt formed yet.

 

[anil_s_trivedi]

Anil Ji,

Two stocks ....

Coal India entry at 343, stoploss 330 for a target of 382
Tata Comm entry at 370, stoploss 360, target 400

Can you give suggest if we can initiate longs for oct series?

thx

 

[umesh12]

Hi Umesh Ji,
I could not see +WW in IDFC daily chart. +WW to trigger, prices shd breach 1-3-5 line but point 5 didnt formed yet.

Hi Prabhanshu

You may be right in what you have seen and I may be right in what I have noticed. I have posted what I have found correct after charting and studying hundreds of wolfes. It is not necessary that I may be right all the time (Yes I was wrong many times also) :lol:

Let us wait for the result, which I feel, will be out in next few trading sessions.

BTW, I may add that I have no position in IDFC, neither previously nor now

 

[anil_s_trivedi]

Dear Anil Sir,
Took long position in ADANIPOWER 55CE @RS.1/ FOR SEPT Series
and ADANIENT 540CE @6.6 kindly advise..

Srinivas

Dear srinivas,

Its expiry week and stocks behave with OI buildup in it and rollover of existing positions. so difficult to gauge its immediate direction.

I will give my levels from hourly chart:

Adanipower:

Strength above : 52.5-52.8 only.
Weakness below : Intraday weakness below 50.8-50.6 levels And more weakness below 49.6.-49.5 levels only

AdaniEnt:

Strength above : 500-501 till 508-510 levels, more above 510 only
Weakness : Below 490 levels only

 

[Prabhan]

Hi Prabhanshu

You may be right in what you have seen and I may be right in what I have noticed. I have posted what I have found correct after charting and studying hundreds of wolfes. It is not necessary that I may be right all the time (Yes I was wrong many times also) :lol:

Let us wait for the result, which I feel, will be out in next few trading sessions.

BTW, I may add that I have no position in IDFC, neither previously nor now

Umesh Ji,
I am not denying that IDFC will not go above 160/170+. From last few years I have learnt that if you trade based on patterns (say WW) then wait for it to form and then enter. My only point was +WW is not formed yet.

Not questioning on your study/intelligence. Good Luc !

 

[umesh12]

Umesh Ji,
I am not denying that IDFC will not go above 160/170+. From last few years I have learnt that if you trade based on patterns (say WW) then wait for it to form and then enter. My only point was +WW is not formed yet.

Not questioning on your study/intelligence. Good Luc !

Hi Prabhanshu

Can you please post a chart of IDFC marking wolfe lines.

IMO, your presumption that IDFC has not formed any +ww is based on the fact that the price has not breached 1-3 extended line. But, had it touched 1-3 extended line or not.

As far as "Not questioning on your study/intelligence" is concerned, yes I have studied and charted wolfe a lot but it does not infer that I may be intelligent also.

 

[Prabhan]

Hi Umesh,
Please see green tl in the given chart.
http://prntscr.com/4oyrkk

 

[anil_s_trivedi]

Although stock in uptrend, Adding words ' not a fair amount of' Relative strength seen in all timeframes..leading the rise a suspicion...

Those who are holding..watch key levels..already breakout and retest happen of that resistance line..now again breaching it on downside will have a clue of weakness setting in...

Intraday weakness will start appearing below spot 2730 and more below 2720. A positional players will come into play below 2690.

 

[amitrandive]

Although stock in uptrend, Adding words ' not a fair amount of' Relative strength seen in all timeframes..leading the rise a suspicion...

Those who are holding..watch key levels..already breakout and retest happen of that resistance line..now again breaching it on downside will have a clue of weakness setting in...

Intraday weakness will start appearing below spot 2730 and more below 2720. A positional players will come into play below 2690.

AnilJi

Learning a lot from your thread!!!
:clap:

Please see my similar post on TCS

http://www.traderji.com/technical-a...igh-probability-breakouts-38.html#post1007377

 

[gundiravi]

Dear Anilji.


I have 6 lots of TCS 2750CE OF Sept series.Could you find any hope of revival tomorrow??

Srinivas.