My charts (and yours too........)

[Romeo and Elliott]

Woah! Babu,

I think you just stumbled upon the BIGGEST triangulation known to man!!!

GRASIM

Triangulation starts around Oct 2007 !!!

One more point, notice prices around June - Aug 2010, they skirt the lower trendline... its a very very strong validation for any trendline, it now seems to be broken to the downside.

I'd peg an upside to circa 2310 where i think ill consider shorting it. SHOULD it breach that to the upside, i'll re-assess.

Ive use the Variable TF technique to figure this one out. TF in the above chart is 2 or 3 days (not sure, i took it off now).

Also within the triangle, the downside seems more accelerated than the upside, moreover theres a huge gap-down on 26-05-2010, and the upmove into the gap seems corrective.

Moving above circa 2310 would also close this gap, but till then, lets see.

As for the quote below :
Translation : Dont let supports and resistences bog you down, just stick to yr discipline.

 

[Romeo and Elliott]

Hi Babu,

Appears our charts dont concur in prices.

Everything seems fine till the May 2010 Close price, before that there seems to be a slight offset.

Could you confirm you got a huge gap down on a daily chart on 26-05-2010.
My chart is cash, an overlay is given below.

 

[Romeo and Elliott]

Interesting observation.

Just how precise can trendlines get ?

IDFC

close up, gives some indication of a rise today, but ideally,
1. IF it opens above yesterdays close go long with a 0.7% below open as SL, OR
2. Wait for today to play out, if its a small solid white body, and 2morros open is above todays close, go long, again with a 0.7% SL below open.

A fall below the Trendline would almost certainly be a good short. but indications so far, are for arise IMO.

 

[Romeo and Elliott]

Tulip a possible short IMO, with a target along a valid trendline.

 

[babukraman]

Hi Babu,

Appears our charts dont concur in prices.

Everything seems fine till the May 2010 Close price, before that there seems to be a slight offset.

Could you confirm you got a huge gap down on a daily chart on 26-05-2010.
My chart is cash, an overlay is given below.

Hi RnE,
I also use cash only. As my s/w is chartnexus, there is only 3 years data available on this free version. By the way, I plot Log Scale charts.

As per your query on the 26th May 2010 data, please find below the same.
25/05/10- C:1978.16 L:1907.53
26/05/10 O:1978, H:1999, L:1700.05 C:1838.80

 

[Romeo and Elliott]

Grasim Cash.
. O H L C
25/05/2010 2390.00 2390.00 2236.20 2319.00
26/05/2010 1978.00 1999.00 1700.05 1838.80

25th doesnt match.

My chart shows a huge gap down on the 26th, i tried checking if it was a slplit / bonus i didnt apply, apprently that doesnt seem to be the case either as per links below, checked for 2010.

http://www.moneycontrol.com/stocks/marketinfo/bonus/index.php
http://www.moneycontrol.com/stocks/marketinfo/splits/index.php

One of us has incorrect data..

 

[babukraman]

Grasim Cash.
. O H L C
25/05/2010 2390.00 2390.00 2236.20 2319.00
26/05/2010 1978.00 1999.00 1700.05 1838.80

25th doesnt match.

My chart shows a huge gap down on the 26th, i tried checking if it was a slplit / bonus i didnt apply, apprently that doesnt seem to be the case either as per links below, checked for 2010.

http://www.moneycontrol.com/stocks/marketinfo/bonus/index.php
http://www.moneycontrol.com/stocks/marketinfo/splits/index.php


One of us has incorrect data..

Your data is right. It's often quoted that the data of free version of chartnexus is not that accurate. Thanks for the correction!

 

[Maddy123789]

Got It Babu Sir...

 

[babukraman]

Got It Babu Sir...

Please address me as Babu......... That's fine with me.

 

[sunny_cool]

Very nice chart pick of IDFC .@ R & E ... It showed a good up move...I think it will be good to go with the trend