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

[calmeshenoy]

sir pls tel me abt AHOKLEY n jaiprakash associate by charts it looking ready to spurt is my view s wrong pls correct me

 

[VJAY]

Dear preethi,

It's for you real time...but not WW....will going to enter in it..in some days...I allready bought some @ 641

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Preethi ji,
My view on Jindal Steel

Dont agree with you on Jindalstel. The black candle on the 31st December is not supported by high volumes. Besides, the metals are going up at a high pace nowadays.

here it is.....allready recomended to preethi....

 

[babukraman]

Then...........

NIFTY
2010-12-16
Babu Kothandaraman

There is a double bottom formed at the 5752 levels with positive divergences on the MACD histogram, RSI and STOC. Also, it has stopped making a new Lower Low.

Are these just good enough for an up move?
Lets get closer for a macro view.

48EMA is around 5959 and 100EMA is around 5833. The price is trading between this range for the past three days. And the latest candle on the 16th looks like a hammer. I say, look alike because its not strictly a top one third body and bottom two-thirds of a tail definition of a hammer. The body along with the top wick is more than one third of the range; hence, can be termed as a bullish biased candle. Nevertheless, with the price hitting the Resistance of the downtrend line and 48EMA (around 5955 levels) together, a breakout might see the index reaching 6070 which is the prior swing high.

In EW parlance, it looks like a (b) corrective wave trying to form a flat. If so, c wave of this (b) flat should at least reach, if not exceed the levels of a wave of (b) which also coincides with the previous swing high of 6070.

But, remember that the TA is more of an art than a science. So, even if the current candle doesnt strictly confirm to the definitions of a hammer, it has formed at the Resistance zone of the 48EMA and the downtrend line.

So, make your decisions depending on the price actions of the coming days. Happy trading!

20101210 Nifty

Now......... Nifty followup

or....

 

[babukraman]

Hi Friends,

I have a query regarding time frame on the candlestick charts.
am using google finance. I was checking charts for great offshore.

when I checked the 30 minute chart , it gave a negative macd breakout.
but when i checked the daily charts, it is giving a positive MACD signal to hold.
hence it is contradictory whether to sell or hold.

what do u suggest for a swing trade of a week or so.
should I look primarily at the 30 minute charts or the daily ?

thanks..
prashanth

Hi Prashanth,
Most of the time it happens as you've mentioned. If all the timeframe charts confirm one particular move, then it's deemed to be a great signal.
In case of contradicting signals in various time frames, then you need to look for different indicators to confirm either this or that time frame's view so that one can take a call as per those confirmations. If there are no confirmations from the indicators for any of the view, just "wait and watch" or "look for somewhere else" approach is the call.
Hope this helps! Comments welcome (Especially, if my view is flawed)!
Cheers!
Babu Kothandaraman

 

[vinst]

Then...........




Now......... Nifty followup

or....

Hi Babu,

Is it good to analyze an ascending triangle near bottoms? Ascending triangles are meant to be useful near tops.
However, my thinking could be wrong and NF may reach 6320.
btw, I am long in NF.

regards
vin

 

[babukraman]

Hi Babu,

Is it good to analyze an ascending triangle near bottoms? Ascending triangles are meant to be useful near tops.

It's really a tough call. Isn't it? Let's see how it works out! What I see is that though there is a bottom due to the recent correction, it has been followed by a recent, short term upmove resulting in this ascending triangle. I expect it to retrace till either to the uptrend line or the horizontal Support line before moving up.

However, my thinking could be wrong .....

This shows your maturity to view from the other side of the fence as well. I might be wrong as well!
Thanks Vinst for the query!
Cheers!
Babu Kothandaraman

 

[osp2osp]

Go with higher time frame.

Hi Friends,

I have a query regarding time frame on the candlestick charts.
am using google finance. I was checking charts for great offshore.

when I checked the 30 minute chart , it gave a negative macd breakout.
but when i checked the daily charts, it is giving a positive MACD signal to hold.
hence it is contradictory whether to sell or hold.

what do u suggest for a swing trade of a week or so.
should I look primarily at the 30 minute charts or the daily ?

thanks..
prashanth

 

[osp2osp]

I think, volume says distribution at higher levels. Is buying on the basis of small upsurge is advisable at all, even if it breaks 152. If I am forced to take a decision, I will wait for a better sell.

Fortis would be a buy abv approx 152-ish for tgt of 164-ish.
This is calculated on the basis of a dbl bottom formation .. break of 152 would confirm the dbl./triple bottom breakout.

Also it has not formed WW
BUT
has some minor positive divergence both on daily and weekly spot charts.

Equity/Cash buy above 152 with SL of 142 for tgt 164 which works out to 1:1 RR.

 

[Romeo and Elliott]

(The solid black diamonds below and circles above some candles only indicate a flat bottom or a flat top.. not std charting indications)

On Mobile, Self Explanatory, resistence break

Self explanatory again, break / test.

Pharma seems to have generally taken off, Dabur test-jump looks good.

 

[babukraman]

20110104 MARICO