Pattern recognition ?

[Czar]

In my opinion nifty may test around 4200 max, but if not new high (4540+) then atleast it should come to 4450/4500 once.... then if unable to make higher high, we may test bottom again, but stop for this rally is 4184 spot...

I feel we go up 1st & then down (3800 levels)... cause macd crossover, MA 5/20 crossover,.

 

[Czar]

Today's bottom is the 50% retracement of the rally from 3790 to 4539 which is at 4165...

 

[praveen taneja]

Today's bottom is the 50% retracement of the rally from 3790 to 4539 which is at 4165...

thnx sir u gave me relief with this bcoz i hav three calls of 4600 n thinking of losing my money it is of aug thnx again

 

[Czar]

levels to watch 4450, if cleared successfully then 4600 & if that too cleared we touch the pink trend line, the final barrier, where it max can go... today was an inside day...

 

[Czar]

is it possible, sail retrace its entire rise from 10 to 293 Rs., now is reverse possible ? if so atleast 185 / 200 possible ? tomorrow month ends a close above 140 may help a lot...

 

[Czar]

Nifty futures pays it last respects to the wolfe wave at peak ? Its more prominent in spot....

 

[milind]

is it possible, sail retrace its entire rise from 10 to 293 Rs., now is reverse possible ? if so atleast 185 / 200 possible ? tomorrow month ends a close above 140 may help a lot...

Interesting that sail is making lows while the steel stocks outside India are not doing so bad, especially with a recent bounce owing to excellent earnings from Mittal (MT) and US Steel (X).

http://finance.*****.com/q/bc?s=SAIL.NS&t=6m&l=on&z=m&q=l&c=mt,x,slx

-- Milind

 

[Czar]

True Milind, Sail is showing positive divergence, signs of accumulation IMO. but the fact that govt is not allowing raising the steel prices & especially Sail being a govt co. so prices being subdued...

 

[Czar]

Wipro breakout... should close above 450 for longer term breakout... will have to check with Karthik for volume...

 

[rvina2]

Dear Sir,

i am very new to traderji and also to trading. Have few questions regarding charts. Sir if u see ABB daily charts it has made double top but the same is not visible in weekly chart, so can we take position according to daily charts

secondly in weekly chart i see a divergence btw ABB price movement and MACD, which is not visible in daily chart. pls correct me if i am wrong.

looking forward for ur reply
thanx and regards
veena