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

[manoharpillai]

Markets love moderation, an increase in volume is fine but where you see a 'blowout' at higher levels, ie absolutely disproportionate volumes, it would be wise to question it.

Volumes were low on decline, which is good, but the reversal was too sharp, ie the stock just gave up at the top, ideally i look for a downside test position where there is some bullish participation too. Hence the confustion.

One more aspect :
Theres been a leg of fall from Oct - Dec 2010, followed by a huge band of correction. The sharp rise could just be a band-breakout target move, with nothing left after it.

A bit outlandish but if the first leg was a wave 1 and the entire correction in cluding the sharp rise, a wave 2, whos to say we arnet heading into a sharp move down ?

Not sure if its a buy, cuz the candles are just off the mark wrt their shadows (structure) and volume.

Kindly give your study on Orchidchem. this chart& volume pattern are similar to videocon indus.

 

[Romeo and Elliott]

Kindly give your study on Orchidchem. this chart& volume pattern are similar to videocon indus.

Sorry manohar, i cant make sense of it
I try to read certain patterns, in their absence its hard for me to make an educated guess.

Someone else could prolly help you with this.

 

[manoharpillai]

Thanks Romeo let us discus some other scrip later no probs.

 

[Romeo and Elliott]

Thanks Romeo let us discus some other scrip later no probs.

Yer welcome, looking fwd to it.

Right now im watching zeel - band breakout to the downside
Cipla is a triangulation.
Videoind, still on watch mode
Jetairways on watch for a possible impulse.

See if any of them intersts you.

Wether or not one trades a pattern IMO its good to see how it plays out, so when one does trade the pattern, one has various possibilities in mind, also helps weed out bad ones from good.

 

[krist]

Hi,
On website nseguide, Dena bank is said to be forming double bottom.
I see it as triple bottom, with the bottoms I have marked as V - two formed and third in formation (may or may not form, of course)
Please clear my confusion.

Also could the pattern formed between Feb and Mar 11 be called Double bottom?
Regards
Mahesh.

 

[Romeo and Elliott]

Hi,
.........
Also could the pattern formed between Feb and Mar 11 be called Double bottom?

Yup, Feb-Mar11 was a double bottom.

 

[babukraman]

Hi all,
First of all, I'm sorry for not contributing much of lately. It's due to two counts.

1. I've been trying my hand at creating own blogspot, in Tamil, on TA & investments. It's literally called "Bulls and bears" ---- kaalaiyumkaradiyum dot wordpress dot com. Those who know the language may visit and leave your comments there. Please note that I'm not trying to sell anything over there. It's just the Tamil versions of what I've been posting here.
2. On July 30th, I'll be doing a paid seminar at the Madras Stock Exchange on "Become an Educated Investor through the study of MM & Psychology, FA and TA". It's going to very basic for the beginner level. The handouts are available either in Tamil or English (around 24 pages). For the same, I'm in the process of preparing with the presentaion and handouts in both Tamil & English.

Any of you wishing to give me some feedback regarding this, please send me a PM. Let's keep this thread for the charts and analysis only. Thanks for your understanding.

Regards,
Babu Kothandaraman

 

[krist]

Markets love moderation, an increase in volume is fine but where you see a 'blowout' at higher levels, ie absolutely disproportionate volumes, it would be wise to question it.

Volumes were low on decline, which is good, but the reversal was too sharp, ie the stock just gave up at the top, ideally i look for a downside test position where there is some bullish participation too. Hence the confustion.

Could you please explain the statement I ve underlined?
Regards
Mahesh

 

[Romeo and Elliott]

Could you please explain the statement I ve underlined?
Regards
Mahesh

Will do, pls gimmie a couple of days, i need to paste a few charts to illustrate.

 

[Romeo and Elliott]

If anyones interested, Good explanation of the VIDEOIND chart provided by Rajputz.

http://www.traderji.com/equities/47979-canteen-718.html#post569121