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

[babukraman]

ur view for theses three stocks next 15days i mean lvls n stps according to chart bhel,onmobile,nifty

I'll get back to you tomorrow regarding these scrips.

Regards,
Babu Kothandaraman

 

[option fan]

Expert comments plz...

its hourly chart.. as i am an intraday or max btst/stbt trader.

http://img263.imageshack.us/img263/4543/newpicturesf.png

 

[babukraman]

no nothing i just used zigzag indicator in amibrokar parameter=1

in some time i will post a interesting chart / and needed to be more better, this system i currently use for scalp trades... with buy sell signals, there are many many false signals i want to omit... , but how i have very less knowledge abt AFL / and TA. what i am gonna show, works for me greatly ! may be its my find. a combination of CCI and RWI to try to guess LOWs and TOPs... I use this one with minimal possible s/l in high liquidity futures. I EARN NICELY.

i used it for all timeframes.... but now need a AFL expert and some more TA master to modify my finds... to filter false signals...Zzzz

will look for a responce thanks in advance...

I'm not an AFL expert; pls forward the afl. I know any other experts on this forum might help you out

 

[babukraman]

BHEL

 

[babukraman]

ONMOBILE
Please refer below. Sorry for the doubling the post!

 

[babukraman]

ONMOBILE
Which one do you favour? Either the Negative divergence on the Daily or the chances of an ascending triangle b/o on the weekly? Your call! Please ignore the trendlines drawn on the Weekly indicators as they were drawn on Daily tf and forgot to remove them. Sorry about it.

Weekly

 

[Romeo and Elliott]

hi babukraman,
i hav one confusion ...m a client of angel broking and hav thr odin software with me ..
..
.. wat r the benefits of having a professional software ???

Babu pointed out the most important point - you will not be broker-dependent.
Gradually youll find your TA software indespensible and get used to it, its like marriage without the liabilities.
eg. Those with Amibroker swear by it, cant eat, drink and perform other normal functions without it, the software has virtually limitless powers for someone whos into indicators (almost everyone has their favs, a friend of mine says Amibroker polishes his car every morning and prepares coffee, i believe him - its the AFL)

How you read charts depends a lot on the software you use. put 4 indicators and most charting softwares would flatten the chart to a point where you cant make sense of the swings.

In short you need something OFFLINE and dependable eventually.

PS : I use Metastock cuz it helps me see things the way i understand them best, i dont use indicators too often and moreover my algorithms have been set to represent stuff on Metastock.

 

[Romeo and Elliott]

Follow ups :
YESBANK : finally moved to the upside, but am foxed beyond wave 5 ... ie I have no clue as to this being the first or the third it just started. [ 1st would mean, wait for a correction, invest on the third]

ONMOBILE : Still holding fast to the initial wave count. Wave 2, moving/moved into 3, shouldnt fall below 357. Upside seems good. And as Babu pointed out, volumes are nice.

ANDHRABANK : Still seems to have some upside but considering entry for 'day-accurate' investors is risky... consider this trade strictly if it opens on a flat bottom, above the preivious close with a SL on the previous close. Such volumes are scary tho.. some cooling off usually follows.

BHEL

Looks like a 4th with some weakness in its dip, but yesterdays body seems to have tested the top of wave 1,

Upside should take you to around the close of wave 3, a failure before that would be very bearish. volumes have dipped but thats normal around wave 4 end on wave 1.

 

[babukraman]

Follow ups :
BHEL

Looks like a 4th with some weakness in its dip, but yesterdays body seems to have tested the top of wave 1,

Upside should take you to around the close of wave 3, a failure before that would be very bearish. volumes have dipped but thats normal around wave 4 end on wave 1.
Pic removed by Babu for the sake of simplicity

Hi RnE,
Is it profitable or advisable to trade the 5th wave of BHEL as of your present count? From these levels, the target seems to be 2700 + levels, please correct me if I'm wrong. Please advise.
Cheers!
Babu Kothandaraman
Btw, what do you recommend for learning EW? Your advise will be of great help for newbies of EW like myself! Please take some time and give us your detailed suggestions. I would greatly appreciate your help! Thanks in advance!
Babu Kothandaraman

 

[Romeo and Elliott]

Hi Babu,

Not really sure on 5ths, ive worked hard to trade 3rds and identify them early. So far BHEL isnt looking too bad on an intraday chart, with a reasonable stop-loss it prolly would be profitable.

Mindset isnt my strongpoint so unless things head one-way i sweat... need to work on that. Therefore thrids usually work for me. I shiver getting into 5ths myself

Ill compress and upload all the material i have on Elliotts, will post upload links here. Most is off websites (i dont remember links, ive downloaded the pages).

glad to help in any way i can

ps : BHEL - watch out for resistence offered by high prices around the first week of August, it needs to break those (around 2545 + / - ).