Long or Short Opinion

[saivenkat]

Actually this is the first time i am working against 
Nifty has more chances to go to 5485-5500 till the end. after which a fall can be there. Did any once noticed the bearish wolf appearing on Spot nifty charts. Its massive. Check it out

Long time back, i observed when nifty was in the range of 5100 levels, but i did not come up with the chart here, with the reason that i could not estimate the EXPECTED TIME FRAME OF THE DOWNWARD WAVE. Because unlike you, i am also using chartnexus software, where i lack the " chart shift" facility, to draw projected time frames.

Regards
Saivenkat

 

[chaitanyagoa]

Can any body suggest about the metal index. Is there any further fall left in that.

Have a look at SAIL ... it is looking good :thumb:

 

[rajputz]

Can any body suggest about the metal index. Is there any further fall left in that.

Have a look at SAIL ... it is looking good :thumb:

i think you should wait before getting so much bullish on sail. See the volume that have caused the fall of sail. The price is below all the EMA and untill it comes up or gets a supporting signal, dont go for it. After such a fall one should not immidiately go bullish.

keeping one condition aside, this is the perfect sell condition for Gator method to work. In this context, sail may not drift to dowside sharply, but can remain sideways, like suzlon is going at the moment. Check the image.

Atleast let stochastics hook back its turn to overbought zone again, or let it reach oversold zone. Its still in overbought zone. And wait for RSi to come above 50 and hooked upward

Check the macd d divergence also

Even if you look at CCI, it hasent given any hook towards upside. At this point one should wait for GB100 pattern at CCI.

My point is that rather then buying it at dips on downtrend before the starting of the upward rally is not a good idea.
Let positive clues gather first and then take the decision. Still if you want to to buy then adding small position at every dip sounds a good idea. my two cents.

P.S.: - I can be totally wrong. But it is my personal view to enter on a stock at the moment, from where it starts rally to our desired side.

 

[chaitanyagoa]

U are right Raj,

But u always dont have to look at the trend esp for very short terms.... I bought a APR call for SAIL... the drop was only for a day on global cues ... but the entire sector is doing well.... Hence the Buy... Mind u this is for Very short term ....


The second reason for the Buy is that it is at a support level...... 226-230 is the buy zone for the stock.....:thumb:

It is a bit of gamble buying this stock but it might work out ... I this stock with a strict stop loss at 230

As far as the Technicals go, I completely agree with U.... IT is no BUY at the moment....

 

[SavantGarde]

Hi Chait,

Don't Worry.....SAIL Wil Move Up On Monday....

Happy & Safer Trading

SavantGarde

U are right Raj,

But u always dont have to look at the trend esp for very short terms.... I bought a APR call for SAIL... the drop was only for a day on global cues ... but the entire sector is doing well.... Hence the Buy... Mind u this is for Very short term ....


The second reason for the Buy is that it is at a support level...... 226-230 is the buy zone for the stock.....:thumb:

It is a bit of gamble buying this stock but it might work out ... I this stock with a strict stop loss at 230

As far as the Technicals go, I completely agree with U.... IT is no BUY at the moment....

 

[rajputz]

Hi Chait,

Don't Worry.....SAIL Wil Move Up On Monday....

Happy & Safer Trading

SavantGarde

Savant sir,

Please enlighten us more. Like what are the positive that help in this sound decision.

I am looking for it to get support and bounce back near the trendline area. Is it right. Near 225-227 Levels.

 

[rajputz]

Can some body confirm that in an upchannel formed, the spike of the 17th march(TATASTEEL), which temporarily went out of the channel can be ignored or not. Check the chart below: -

 

[chaitanyagoa]

Can some body confirm that in an upchannel formed, the spike of the 17th march(TATASTEEL), which temporarily went out of the channel can be ignored or not. Check the chart below: -

I think u can ignore that Spike......... I guess the stock opened gap down for some reason and went up immediately to close above the previous days high on decent volume.......... I tried searching for reasons for the gap down but couldn't find any ..........

In the mean while keep a watch on Videocon Industries ... looks Juicy to me...... But again have to check the charts in detail....... Will, post my Opinions along with the chart later on

 

[SavantGarde]

Rajputz,

Todays Bar Has Pierced The Lower BB (9,2) Therefore One Can Expect A Bounce Back....If It Doesn't Bounce Then I Doubt Very Much, If It Will Hold The Trendline.....Indicated By You....On The Charts

Happy & Safer Trading

SavantGarde

 

[rajputz]

i have one querry regarding trendlines which i think seniors can clarify...

in the given Picture i have drawn three trendlines, one is primary trendline which is made correct. other two blue and green is the secondry trendline. One of these trendline is Wrong.Only one of them can be taken for decision. Considering the red line, the trendline is broken and downmove can come. But considering the blue line, Price just reverted back taking support there....So which trendline can be considered in this.

Other querry is that in amibroker, we have two options of displaying the charts. One is linear and other is Logarithmic. I studied the presentation given by satyojit sir, member of forum, and he recommends using logarithmic price chart to draw trendlines. But i couldnt find out why. if some body can help me with that.