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

[option fan]

Nice suggestion! As there are quite a few index dedicated threads tracking Nifty intraday or otherwise, do we need the indices here? IMHO, those views may not be original as most of the views are influenced by these index views! Any feedback is welcome!
Cheers!
Babu Kothandaraman

yes, there are many index devoted threads....

but many of those are statistical or only with values.... i mean support, resistance, target, s/l etc add pivots into it..

here we will be able to see studied charts........ that makes the difference. will make concepts more clear.. so lets talk INDEX charts..

willl be glad to see NIFTY charts here regularly !!

thanks !

 

[Romeo and Elliott]

DLF

Long term trendline breached to the upside on rising volumses.
Everything seems nice, one could enter long with the trendline as SL.

BUT the *RULE* ive set for me is - nothing doing till the stock crosses the previous top on these levels ... 365.65 **ON A CLOSING BASIS**.

Tempted to make an exception on this one, depends on how DLF opens 2morro. I say flat bottom, above todays close. but lets see.

Last run : 38% retracement not crossed (good sign)
Slight rise in volumes, flat bottom on last day (good sign)
The last downside was 'fragmented', a clue that its moving against the major trend.. ie upwards.

Stock paused for two days before it broke it on slightly rising volumes and a flat bottom and not much of a upper shadow, the two day pause reduces the possibility of a test back to the trendline [does not eliminate it tho] (good sign)

Other stocks that did this in the recent past :
RENUKA
JPASSOCIAT
EDUCOMP - BOMBED, showed weakness around 23.6% and did *not* close above the price that confirms ['the RULE'] now it is at what looks like a 100% retracement. But no bullish stance on it till it crosses above 61.8% retracment, better still if it tests it [*safety first*]

 

[rrmhatre72]

JETAIRWAYS @ 890.50
Bullish ascending triangle b/o at the very fag end of the pattern. Though with a 13.5xVol>VolMA5, will it be a valid b/o for such a longer duration it has taken to b/o?
Target zone 840-665=175
Target 840+175= 1015

Hi Babu,

Learning lot from your thread about charts... Thanks Buddy...
Appreciate if you can tell how 665 number is determined in this calculation.
Just want to know basis of selecting this number

 

[babukraman]

Hi RnE,
What do you mean by "flat bottom"? Pls. advise! Thanks! Babu Kothandaraman

 

[babukraman]

JETAIRWAYS @ 890.50
Bullish ascending triangle b/o at the very fag end of the pattern. Though with a 13.5xVol>VolMA5, will it be a valid b/o for such a longer duration it has taken to b/o?
Target zone 840-665=175
Target 840+175= 1015

Hi Babu,

Learning lot from your thread about charts... Thanks Buddy...
Appreciate if you can tell how 665 number is determined in this calculation.
Just want to know basis of selecting this number

Thanks for the compliments and your feed back! Thanks again for asking a nice question. If you look at the ascending triangle pattern, there are two lines; one is the R at 840 level and the other one is the uptrend line. The pattern is touching the 840 R line, may be, more than ten or fifteen times without breaking it.
For target projections, we need to connect these "touches" to the uptrend line. Out of these lines which ever is the longer one, we take it for consideration. So, Aug 23rd touch is the one, I've taken for my calculation, as it's the longer one; if you draw a straight line from this point to the uptrend line, the meeting point will probably be 665 level.
Hope this helps! :thumb:
Cheers!
Babu Kothandaraman

 

[babukraman]

yes, there are many index devoted threads....

but many of those are statistical or only with values.... i mean support, resistance, target, s/l etc add pivots into it..

here we will be able to see studied charts........ that makes the difference. will make concepts more clear.. so lets talk INDEX charts..

willl be glad to see NIFTY charts here regularly !!

thanks !

Thanks for your response, option fan! I second your suggestion! But, as far as I'm concerned, I get to read a few index reports and I might be more biased by those views. Hence, I try to refrain from posting the index views. If any other member/s intend to post their original analytic view, I welcome them! It'll be more interesting!
Cheers!
Babu Kothandaraman
To begin with let me post one of the SENSEX July '10 chart! "History repeats itself" topic discussed by Mr.T.R.ArulRajhan of Chennai, a prominent TAnalyst here in Chennai. Please look at the highlighted Inv HnS of Feb '10 (smaller one) and the May to June (a bigger one). At that time, he mentioned that if the bigger Inv HnS b/o happens in July, "convert your money into stocks" for a greater profit. Credit to the author! This chart was posted on another forum at that time itself!

 

[option fan]

NIFTY fut DAILY chart till today 11.37 AM

current days volume is erratic.. plz ignore...

seems like a flag.... we may see 100-150 + upside coming days..?

 

[babukraman]

NIFTY fut DAILY chart till today 11.37 AM

current days volume is erratic.. plz ignore...

seems like a flag.... we may see 100-150 + upside coming days..?

Yup! I noticed that flag too! In that case the flagpole is from 6000 to 6350. Then, shouldn't it be 350+ points, in case of a b/o? (instead of your 100 to 150 view)?

 

[option fan]

Yup! I noticed that flag too! In that case the flagpole is from 6000 to 6350. Then, shouldn't it be 350+ points, in case of a b/o? (instead of your 100 to 150 view)?

yes hope so...

 

[option fan]

for your ref..

SUZLON... hourly chart till now ..may be some resistances still to blow !

fingurs crossed !