KISS like McGrath

[opensky]

hi all,

check out if there is any formation of bullish wolfe wave in bajaj hindusatn daily chart

 

[opensky]

hi all,

on a bigger time frame another wolfe wave may be in making having even bigger target .

members do comment .

 

[Ajax]

Hi wins, marc and other 'non KISSERS'

Wow!!!! So lure of technicals does catch up.
Indeed there is diveregence with TCS hrly price and MACD.

See TCS jewellary chart
Other things favouring long positions are:
1. Rising RSI (and + divergence), Rsi moving above sloping trendline
2. Rising Stochastics > 50 ( and +ve divergence)
3. MACD cross over and +ve divergence (Though MACD <0)
4. Relative Strength index > 100 and rising
5. ADX cooling down and <25 & going to trading range
6. DI+ moving up & crossing DI- (and +ve divergence)
7. Volume AD moving up & +ve divergence
8. Bollinger bands narrowing and turning up. 2nd Last swing bottom
outside lower band and last swing bottom within lower band. and
latest price reaching upper band
9. Moving averages converging and about to cross

10. Recent news OF association of TCS & Ferrari
11. Quaterly performance results to be out in 1st week July
12. Dollar / Rs ratio bottoming out etc etc etc etc etc.

Do u need anymore convincing to go for TCS first thing in morning

All the above jewellary would have been totally uneccessary only
if price action and its confirmation in form of DB was taken note of.
(See 2nd chart attached)
And marcus, projections does match the traget of 1300 ur broker mentioned

BTW it took me more than 45 minutes to analyse and compile the jewellary
chart. Where as KISS chart was obvious within minutes.



Enjoy

Ajax

PS: Why F*** UP when u get the desired result by K I S S

 

[uasish]

As now i have the backing of 'Wolfe's" ,feeling comfortable for inititiating Longs in CNX IT & TCS.

 

[Ajax]

Hi opensky

Take a look at Bajaj Hind chart from NSE & BSE.
NSE looks like Wolfe, but BSE chart does not .
I am skeptical of NSE data because of false / freak trades.

Better bet would be TCS discussed earlier or CxIT

regards

Ajax

 

[marcus]

Dear Ajay,

Thanks for your wonderful analysis I am now more confident to break even at the very least, I only have a small number of shares but who wants to lose money anyway ! haha

Just one more question if you don't mind, I understand things are bullish on the hourly chart but if we take a look at the EOD chart (as u had posted an EOD chart earlier with ww. NSE or BSE whichever you like) as per KISS we find there is no DB neither is their any divergence with RSI or MACD or Willaiams%R, we only find a very small divergence in Stochastic and the ADX is showing very strong downtrend (well above 50)

Could you give me your valued opinion as to whether the bullishness in the hourly charts will actually be able to make a significant upmove which would be noticeable on the EOD chart.

TCS NSE
http://stocks.dlngroup.com/stocks-technical-analysis/ind/NS/TCS

TCS BSE
http://stocks.dlngroup.com/stocks-technical-analysis/ind/bo/532540

There is no need to use foul language Please understand this is not to question your mastery over TA but only learn from your vast experience, I am a fan of your KISS and closely watch this thread for your inputs.

Personally I believe the factor which would move the price up would be the results or anticipated results as in the first week of July.

Thanx for your kind guidance.

 

[Ajax]

Dear Marcus

When u look at hourly chart , trade on hourly basis only. Dont take positions
on eod basis. WHen I take position based on hourly chart, I use trailing SL on hourly basis. I let my trade go on till SL is hit. Some times it hits in hours,
sometimes in hours extending for many days. I dont wait for targets

U never know when trend can reverse.. TCS may reverse trend on hourly charts. Which may later be reflected on eod chart. god willing.

BSE/NSE EOD chart was of Bajaj Hind in response to query by opensky

No bad intentions at all. So called foul language was just in lighter vein.
I will shortly post one anecdote of double meanings in "Hot bear cold chicken"
I only wanted to highlight the difference in effort / rewards ratio between 2 technics.

Regards

Ajax

 

[uasish]

Marcus,
For you ,TCS Fut on EOD,does this chart makes sense.

Asish

 

[lvgandhi]

Marcus,
For you ,TCS Fut on EOD,does this chart makes sense.

Asish

Very nice. How can one get data for futures. Is it available from NSE sites daily?

 

[uasish]

Hey Wolfes

Any formation plz confirm.

Asish