ELECTROSTEEL CASTINGS LTD - Technical Experts Help needed

[rajesh.sadhanala]

Hi Kuriako,

Can I have the chart with the wave posted on it. I would like to have a idea on it.. Also if you can explain me the details of the wave plotting if you dont have any reservations.

Regards
Raj

 

[kuriako]

Hi Kuriako,

Can I have the chart with the wave posted on it. I would like to have a idea on it.. Also if you can explain me the details of the wave plotting if you dont have any reservations.

Regards
Raj

http://www.traderji.com/attachments...eeded-elecastwave-eek-please-dnt-kill-me-.png

This is the chart!

I am just plotting the trendiness between points! From my observation, it helps me to identify strong support and resistance levels. The waves also help me to know the momentum of a tide!

I am using some thermodynamics idea in plotting the wave(PV=RT)
Also included position recognition based on velocity(/momentum/rate of change)

Just one liners with 3-4 math operators! Plotting this is easy.

Some experts here feel the waves are similar to PFB or CFB.I am unable to get info of PFB and CFB.

I also look for same slope of rise, same price area, same patterns, cyclic nature etc.

 

[rajesh.sadhanala]

http://www.traderji.com/attachments...eeded-elecastwave-eek-please-dnt-kill-me-.png

This is the chart!

I am just plotting the trendiness between points! From my observation, it helps me to identify strong support and resistance levels. The waves also help me to know the momentum of a tide!

I am using some thermodynamics idea in plotting the wave(PV=RT)
Also included position recognition based on velocity(/momentum/rate of change)

Just one liners with 3-4 math operators! Plotting this is easy.

Some experts here feel the waves are similar to PFB or CFB.I am unable to get info of PFB and CFB.

I also look for same slope of rise, same price area, same patterns, cyclic nature etc.

Thanks for the detailed information. Good idea to use it for Support and Resistance.. You are making the chart smoother to know the momentum. Really interesting and knowledgeful.

You didn't attach the latest chart, you just attached the same old chart.. can you attach the chart that is closing on 30th Nov.

Raj

 

[kuriako]

I was thinking it as long term as we were discussing monthly charts!

Here is daily chart!