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

[SwingKing]

Dear Raunak ji,
It's very nice of you to pass on such compliments. Even though, the initiative is from my side, there are others who've joined the band wagon and making this thread a better one. I thank, again, all those who are contributing here, at this time! This thread is the result of their own initiative as well. :thumb:
That's the beauty of the sharing, isn't it, Raunak ji?

Babukraman,

Sharing is equivalent to learning and hence no matter how experienced we become, every post teaches us something or other.

Keep the good work going. I'll join you guys as well.

Tc

 

[vishalalluri]

Babukraman,

Sharing is equivalent to learning .

Tc

It reminds me of a quote i often use in my day to day life


""""""SHARING IS CARING"""""""""""""'

 

[dhootankur]

Petronet looks like candidate for BO...126 is level which can act as BO level and abv that target coming to be 150.

130 - 105 = 25.
126 + 25 = 151.

 

[Romeo and Elliott]

Hi,

Thanks so much for the inputs.

I'm just obsessed with the green line, it kind of made me wonder that it got no validation, i mean, it looks good, on all counts and yet.. was wondering if it was discounted cuz the consensus was that since its been breached it holds no validity.

RnE,

Well the text book says that breaching of trendline..........

a) Trendlines is actually over stated and wrongly interpreted......

...(from 40 degree to 20 degree).........

"a) Trendlines is actually over stated and wrongly interpreted......" very well stated

Raunak, Sir, Ive looked up a lot of your posts, *bows* really appreciate your views... i think it was one of your posts where you mentioned something like "Prices dont happen because of indicators, indicators happen because of the prices.." (Paraphrased), emphasising the over-reliance on indicaotrs that ppl tend to have. Excellent.

Thanks, Sir, for your inputs.. I'd further add a couple of points..

1. The origin of the trendline... if it originated at a major pivot, it would have a bit more validity that one that did not.

2. Evidence of testing... has the line been holding up ? been tested over n over ? specially good to look out for BREACH -> BOUNCE BACK -> TEST -> THE BIG RUN.

Hi Babu & RnE,
I am following your posts from quite some time
..............
Rajesh

I'm relatively new myself, Rajesh, but glad I seem to be making sense, do post your views as well and im sure you're looking up posts by seniors, the gurus.. they hold a wealth of knowledge. thanks.

....One must have a dynamic view as far as Technical Analysis .....
............a clear picture of the price actions.

Thanks for yr inputs, Babu, much appreicated. Thanks for the detailed explanation and illustration.

What usually..........
.............. e - versa.

Thanks dhootankur, valid points, well noted. Thanks.

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So, why were we not big on the Gree one ? Does it look valid ? Relevance - Should Nifty gO up, this would be one of the lines to watch out for in the future [unless this was a bounce and it heads down].. ie worth keeping on the chat.

 

[SwingKing]

Petronet looks like candidate for BO...126 is level which can act as BO level and abv that target coming to be 150.

130 - 105 = 25.
126 + 25 = 151.

I second your view on Petronet.

As far as it remains above 116-118 levels, it is heading for much higher levels.

Ideal strategy for this would be to take 2X positions, exit one at 130 and keep trailing off 126 on another. If 130 is crossed comfortably, let 2X run till reversal signs emerge.

Good find Ankur.

Tc

 

[dhootankur]

Polaris looks another candidate for BO...reason for crossing downtrend line this time as per me are :

1. If you look at last two down swing with stochs & RSI, little divergences has appeared.
2. Last, y'day candle gaps up. Quite possible showing that professional has entered into it. Its just my view may be wrong ( )

168 level looks as BO level, y?
1. 168 is level where this trendline is coming as barrier.
2. 100 & 200 EMA is also coming down at 168. So watch this level on closing basis with volume, if yes then good upside can be seen in coming time.

 

[Romeo and Elliott]

Somethings happening on Dr Reddy.

Breakout of a band ? Flat Bottom and more than 2x (extrapolated) volumes !!

Last candle is intraday, Last candle volumes are extrapolated volumes.

 

[Romeo and Elliott]

Petronet looks like candidate for BO...126 is level which can act as BO level and abv that target coming to be 150.

Last candle is Intraday, Last volume is extrapolated.

Keep in mind that NIFTYs taking a slide down, and Petronets already had a run up (that could be wave 3, making this wave 5 .. im not sure tho) + on a closure like this it becomes a triple top.

Just for yr attn.
tc

 

[SwingKing]

Last candle is Intraday, Last volume is extrapolated.

Keep in mind that NIFTYs taking a slide down, and Petronets already had a run up (that could be wave 3, making this wave 5 .. im not sure tho) + on a closure like this it becomes a triple top.

Just for yr attn.
tc

RnE,

The Wave structure is mentioned for intraday or EOD?

Also, guys, please address me as "Raunak". No need to be formal. No "Ji" and No "Sir" please.

Tc

 

[rsingh2005]

Hi Rajesh!
Thanks for your feedback and compliments.
I can understand your frustration while trying to analyse the complex EW stuff. To learn, please dedicate a portion of your time to read some TA books, one at a time. If you keep on reading and at the same time checking out charts posted here or on the Elliott Wave thread, I'm sure that you will become an expert.
Let me give you this link which RnE has posted some time back. This is for EW study materials collections which he has used. Hope this helps you!
Happy reading!
http://www.traderji.com/technical-analysis/45193-my-charts-yours-too-26.html#post481232
Cheers!
Babu Kothandaraman

Dear Babu,
Thanks for the reply.
The link is really helpfulwill go through it & try to grasp some fundamentals from there.
In the meantime would you please suggest what all basic one should maintain in analyzing general chart pattern.. like for trend line one should give more emphasis on weekly chart or daily chart, same in case of S/R & all other main continuous or reversal pattern, as what I observe your explanation on every chart is very lucid & easy to grasp, so some guideline will help me to grasp the basic.
Going through some books on TA , at present going through Martin Pring.
Regards
Rajesh