My charts (and yours too........)
- Thread starter babukraman
- Start date
- Tags inv hns sffp wipro
Agrodutch
Oct 1st Close @ 25.25
Daily Morning Star formation
Weekly in a pull back of rally and the last candle was hammer. LL of weekly (around 21 level) not breached yet. Possilble upmove due to morning star in daily. Possible R is likely to be around 27. Watch out for RSI and STOC down trend line b/o for a possible reversal.
Oct 1st Close @ 25.25
Daily Morning Star formation
Weekly in a pull back of rally and the last candle was hammer. LL of weekly (around 21 level) not breached yet. Possilble upmove due to morning star in daily. Possible R is likely to be around 27. Watch out for RSI and STOC down trend line b/o for a possible reversal.
Tulip
Oct 1st Close @ 179.20
Weekly in down trend channel; Latest weekly bar is a perfect bullish up bar reversal pattern which eventually is from the intermediate support of around 170 level for the past five weeks. Since the 170 level is keeping the pattern from reaching the down down side trading range, a SFFP as well as an Inv HnS is in the making.
Oct 1st Close @ 179.20
Weekly in down trend channel; Latest weekly bar is a perfect bullish up bar reversal pattern which eventually is from the intermediate support of around 170 level for the past five weeks. Since the 170 level is keeping the pattern from reaching the down down side trading range, a SFFP as well as an Inv HnS is in the making.
TataElexsi
A nice case study multiple patterns within the same chart.
Oct 1st Close @ 261.05
Weekly: It’s a clear HnS since the Apr ’09 up trend. The volume of up bars of left shoulder higher than the Vol of up bars of the head; and the right shoulder’s vol is still diminishing. That too, with a bearishly slanting neckline. Wow! A text book pattern. But wait! The RS meeting the neckline about 5 weeks back was a reversal hammer pattern with only marginal volume. So, HnS break out is not so strong
Let’s take the other view (of mine). The latest weekly bar is perfect bullish up bar formed exactly at the 240 level which is the neckline support of the RS about 5 weeks back. For a possible reversal, the weekly STOC has broken the down trend line and RSI b/o still to go. Oh! One more thing! If you view the MACD histogram, it’s showing a po sitive divergence. So, is it going to be a bearish HnS breakout or a bullish up bar reversal?
Cheers!
Babu Kothandaraman
A nice case study multiple patterns within the same chart.
Oct 1st Close @ 261.05
Weekly: It’s a clear HnS since the Apr ’09 up trend. The volume of up bars of left shoulder higher than the Vol of up bars of the head; and the right shoulder’s vol is still diminishing. That too, with a bearishly slanting neckline. Wow! A text book pattern. But wait! The RS meeting the neckline about 5 weeks back was a reversal hammer pattern with only marginal volume. So, HnS break out is not so strong
Let’s take the other view (of mine). The latest weekly bar is perfect bullish up bar formed exactly at the 240 level which is the neckline support of the RS about 5 weeks back. For a possible reversal, the weekly STOC has broken the down trend line and RSI b/o still to go. Oh! One more thing! If you view the MACD histogram, it’s showing a po sitive divergence. So, is it going to be a bearish HnS breakout or a bullish up bar reversal?
Cheers!
Babu Kothandaraman
Sail: Close @ 204.40
Bearish engulfing; possibly at the peak of rally; which is a previous resistance level @ 208 ish; yesterdays candle a low close bullish candle with a long top wick which also spells bearish; Stoc is in ob zone; can we expect a pullback? If so, by how much? If we take the low of 184.85 of 8/27 to the high of 210 on 9/22, then the 38.2% retracement will till 200 levels.
or double bottom b/o in the making
Regards,
Babu Kothandaraman
Bearish engulfing; possibly at the peak of rally; which is a previous resistance level @ 208 ish; yesterdays candle a low close bullish candle with a long top wick which also spells bearish; Stoc is in ob zone; can we expect a pullback? If so, by how much? If we take the low of 184.85 of 8/27 to the high of 210 on 9/22, then the 38.2% retracement will till 200 levels.
or double bottom b/o in the making
Regards,
Babu Kothandaraman
GODREJIND at 61.8 retracement and strong support.
Appears to be in the second wave, leading up to the third impulse, the second could form a zig-zag but remains to be seen, the trendline at 61.8 looks like something to keep track of.
[forgot to mention *all my charts are cash charts*]
Thanks for the LT chart wave count.
How would you do the counting for the Godrej? Could please share it with us please? Thanks! Babu Kothandaraman
yw,
Im really not sure of the counts on GODREJIND, stocks like LT are relatively easier..
Im still learning... but heres how i go about it :
I look primarily for fragmented looking corrections, if they are followed by a sharp rise it most likely is an impulse. Then use the Elliott basic rules to figure if one can spot the first, if the second is clear enough, good, if not, doubt the count. And most books urge traders not to try too hard, ie.. not all counts are clear, like GODREJIND for me is a bit tough, the last run was surely "impulsive" so i know its either 1 or 3 [5th waves dont usually display such characterstics] but since i see a correction way back in MAY-JUNE i'd think the first was already in motion, hence the doubt.
What i try to track are stocks with a clear ABC + impulse .. then wait for the third.
Tho im still learning, hope this helped.
Im really not sure of the counts on GODREJIND, stocks like LT are relatively easier..
Im still learning... but heres how i go about it :
I look primarily for fragmented looking corrections, if they are followed by a sharp rise it most likely is an impulse. Then use the Elliott basic rules to figure if one can spot the first, if the second is clear enough, good, if not, doubt the count. And most books urge traders not to try too hard, ie.. not all counts are clear, like GODREJIND for me is a bit tough, the last run was surely "impulsive" so i know its either 1 or 3 [5th waves dont usually display such characterstics] but since i see a correction way back in MAY-JUNE i'd think the first was already in motion, hence the doubt.
What i try to track are stocks with a clear ABC + impulse .. then wait for the third.
Tho im still learning, hope this helped.
Similar threads
-
Future trading at discount than the spot price after a breakout in daily charts
- Started by Jalesh_Soni
- Replies: 1
-
Can you provide Indian Mutual fund charts in trading view ?
- Started by Prakashbhai
- Replies: 1
-
Suggest me a Discount broker with Trading view charts (Buy/SL from charts)
- Started by id4trade
- Replies: 14
-
GANN CYCLES-HOW TO SEE THEM ON AMIBROKER CHARTS? PLEASE PROVIDE A CODE
- Started by rvlv
- Replies: 0
-