Dear Anil Sir,
Your analysis on stocks & index is really giving a good insight on how to look at chart from weekly, daily & hourly perspective. Thanks for educating with superb explanations.
I have a query, as in this chart of LT, daily was in uptrend nearing a good support level, if at that support we get above average volume & stock moving up on hourly chart, can we buy with SL below that support level.
I don't expect this LT like move (which happened today) , but can one expect a good move at such chart position?
Thanks once again.
Your analysis on stocks & index is really giving a good insight on how to look at chart from weekly, daily & hourly perspective. Thanks for educating with superb explanations.
I have a query, as in this chart of LT, daily was in uptrend nearing a good support level, if at that support we get above average volume & stock moving up on hourly chart, can we buy with SL below that support level.
I don't expect this LT like move (which happened today) , but can one expect a good move at such chart position?
Thanks once again.
If on any chart stock having good uptrend and testing Trendlines, then one can initiate position on lower timeframe with minimum risk...one can try to identify setup of retest too on lower timeframe...
Regarding volume, most important thing is consolidations need to have below avg volumes, and breakout associated with consolidations need to have above avg volumes...
Always try to get good entry setups...i mean there are many Trendline setups but if there is another factor favouring it, then go for it...like +ve div in momentum indicators...improving relative strength...
Frankly speaking i have intermediate s/R zone expectation from L&T, but so fast...it was really a fast stroke...poor me, i got out early on...but this is market for you...sometimes you sit tight and it pays, sometimes we try to outsmart and market shows our place in right time...
But then there are some, good trades too...one like bata got out and stock still correcting...so end of the day feels good. Whatever we analyse and got results as per expectations, it feels nice...