New Intermed Uptrend!!

[jamit_05]

Daily looks good in Dabur.

Dabur, Dr.Reddy and MRPL are up on Daily. Wish I had the hourly charts, I couldve at least planned an entry.

Fellas check this one out. Hindpetro will change flavor to yummy upon breakout from 269 ish. Breakouts are a risky business. Will need more lessons from ashishda on this one.

And and... IFCI is now sitting at its previous Monthly waves .78 Fib ret. This is a strong support. Therefore, the break of the next daily pivot high of 47.25 is a possibility. A worthy candidate of watchlist.

 

[rakeshluthra430]

DIVIS LABS in an uptrend on daily charts as of today,breaking previous pivot highs......To confirm an intermed uptrend,it has to break 1465.

Bought today and as always,no targets,only trail stops.

Saint

Thanks a lot Saint for sharing your process with us. As usual, I have a few questions if you dont mind:
1. The last Pivot high on daily was at 1370... where I guess one shd have entered ( as per 123 pattern). Pl educate.
2. Now, when we see a higher pivot low ( in this case 1219) forming on the daily, wouldnt it be better to buy if the share closes above the high of that PL day... in this case 1298? The logic is our risk-rew would be better in such case... i.e Buy 1317 (close above 1298) Sl 1219. I say this bec I have an impression that if we buy as per 123 pattern, the Sl still remains the last pivot low of 1219...( unless its a quikie with sl below low of previous 2 bars).
Yes... this will give us more false entries (success rate will be down) but the risk-rew will be considerably up thus compensating for it.
Kindly let me know your views on this.

Sorry for bothering you with silly doubts.

Rakesh

 

[Satyen]

Amit 47.73 is also weekly pivot

Sir GMR and India info line are great breking of previous pivot high will be start of weekly and daily uptrend ?

Regards
Satya

 

[Saint]

Re: Daily looks good in Dabur.

Dabur, Dr.Reddy and MRPL are up on Daily. Wish I had the hourly charts, I couldve at least planned an entry.

Fellas check this one out. Hindpetro will change flavor to yummy upon breakout from 269 ish. Breakouts are a risky business. Will need more lessons from ashishda on this one.

And and... IFCI is now sitting at its previous Monthly waves .78 Fib ret. This is a strong support. Therefore, the break of the next daily pivot high of 47.25 is a possibility. A worthy candidate of watchlist.

IFCI and MRPL.....nice!

Stay clear of Dabur and Dr Reddy....shall explain later!

Saint

 

[jamit_05]

Amit 47.73 is also weekly pivot

Sir GMR and India info line are great breking of previous pivot high will be start of weekly and daily uptrend ?

Regards
Satya

Well, isn't the high (71.9) of the week ending on 08/02/08 is the recent weekly pivot high? However, 47.3 seems like only a daily pivot. Pls revert with conclusion.

 

[Saint]

Well, isn't the high (71.9) of the week ending on 08/02/08 is the recent weekly pivot high? However, 47.3 seems like only a daily pivot. Pls revert with conclusion.

Yes,Amit.......most have not started weekly uptrends as yet.Except MRPL I guess.....threatening one around here.

Amit,if you haven't read the prev post.....stay clear of DABUR and DR REDDY as of now,will explain a bit later.

Saint

 

[jamit_05]

Yes,Amit.......most have not started weekly uptrends as yet.Except MRPL I guess.....threatening one around here.

Amit,if you haven't read the prev post.....stay clear of DABUR and DR REDDY as of now,will explain a bit later.

Saint

Yes. Dabur and Dr Reddy scratched.

 

[Satyen]

Well, isn't the high (71.9) of the week ending on 08/02/08 is the recent weekly pivot high? However, 47.3 seems like only a daily pivot. Pls revert with conclusion.

Hi
Amit chart attached may be i m wrong

Satya

 

[jamit_05]

Hi
Amit chart attached may be i m wrong

Satya

Well, I am thinking that this is a fairly weak resistance for weekly. However, a break of this resistance in daily is an interesting event.

I too have such confusions time and again. Still somewhat trying to grapple with the idea of pivots.

 

[qa_y2k]

dear saint,
a question for you....i am not sure if this is the right thread for the query but i see you post here....sorry,i kind of follow u everywhere....do u follow the charts of spot or futures for trading in nifty..
thanks in advance

Yes,Amit.......most have not started weekly uptrends as yet.Except MRPL I guess.....threatening one around here.

Amit,if you haven't read the prev post.....stay clear of DABUR and DR REDDY as of now,will explain a bit later.

Saint