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

[umeshchinniah]

kindly see the chart of tata steel. is the pattern of the formation of cup and handle in the making. correct me if i am wrong

 

[babukraman]

Jindal Steel & Power Ltd

 

[babukraman]

Jindal Steel & Power Ltd

JSPL follow up
01) Scrip Price on Pattern
JSPL 678.55 15-Nov H n S
H(ead) probably at the end of the rally;
H(ead) reversing at the 750 R levels
Rally is from Aug low of 610 to Oct high of 750
This rally has witnessed negative divergence of MACD histogram, RSI and STOC
Target: 630 - (750 - 690) = 630
Neckline b/d on 12th Nov with 1.9x (times) Vol>VolMA5
15th Gap down opening and C<O. So, a valid short trade entry

 

[babukraman]

10 k

 

[sharathnj]

Hi Babu,

At the start of this thread you indicated tech Mahindra doing a "Double bottom" but its heading downwards now.. Do you think its on the way to "triple bottom"...

please share your thoughts....

Regards,
Sharath

 

[Pralhad]

10 k

Thank you very much for this thread!! :clapping::clapping:

 

[rrmhatre72]

10 k

Keep the good work on Babu....
Really useful in understanding charts with live examples....

 

[Romeo and Elliott]

Still holding up, but all gaps would likely close. But on a support.... will employ the w/w strategy.

 

[babukraman]

Hi Babu,

At the start of this thread you indicated tech Mahindra doing a "Double bottom" but its heading downwards now.. Do you think its on the way to "triple bottom"...

please share your thoughts....

Regards,
Sharath

Hi Sharath,
Thanks for your interest in this thread and for your query!
When I posted that particular chart, I remember, a couple of seniors from the other forums mentioned that it was a nice "find". But the trade went against my assumption. In such a scenario, it's just another "SL hit" and another "valuable lesson learnt". With these kinds of trades, the market is putting our plans and strategies to test. Simply, we've to pass the test! Even if we fail, there is always arrears and we can clear that paper on the next attempt. But the important factor is "follow the plan/ learn to follow the plan" which we've to adhere to.
Regarding the triple bottom, I don't want to commit to that extent. As of now, it's in a range.
By the way, you'll find many more charts of market being the master, in this thread. Please share your views and all of us can learn from such writings!
Regards!
Babu Kothandaraman

 

[option fan]

Still holding up, but all gaps would likely close. But on a support.... will employ the w/w strategy.

W-W strategy?