Price action with Candlestick Analysis(No indicators)

[Riskyman]

Uploaded with ImageShack.us


Are my support / Resistance lines OK on Tata Motors???

 

[Riskyman]

Uploaded with ImageShack.us

So is hindalco at support now? If it crack below 100 then go short?
If it bounces back from 100 then can go long for a target of 112????

Please let me know if im thinking right

Rgds

 

[Riskyman]

Todays chart for hindalco. Bounced back and closed above it support of 100. So
this should head towards 112 right??

Uploaded with ImageShack.us

 

[Riskyman]

Siemens looks like a all out short candidate. No support seen anywhere.

Uploaded with ImageShack.us



See some support at 490 levels which are from 2009.

Uploaded with ImageShack.us

 

[gurmy.]

Todays chart for hindalco. Bounced back and closed above it support of 100. So
this should head towards 112 right??

dear riskyman

do not jump on the conclusion

a support or resistence should be retested for a valid entry,also check the weekly chart
you need to go through this thread from the begenning
take your time,learn and understand
thanks

 

[Riskyman]

dear riskyman

do not jump on the conclusion

a support or resistence should be retested for a valid entry,also check the weekly chart
you need to go through this thread from the begenning
take your time,learn and understand
thanks

Gurmy,

Thanks. It was a mere question i was asking you guys about hindalco. Also when you say "retest S/R", what do you mean? can you please use hindalco as example and clarify??


Would you care to answer if im drawing S/R lines properly???

Rgds

 

[gurmy.]

Gurmy,

Thanks. It was a mere question i was asking you guys about hindalco. Also when you say "retest S/R", what do you mean? can you please use hindalco as example and clarify??


Would you care to answer if im drawing S/R lines properly???

Rgds

reproduced from hik's folder

Uploaded with ImageShack.us

 

[Riskyman]

Gurmy,

On observing carefully i realized i posted a 5min chart (the second chart) of Hindalco by "error". I was under the impression that it was today's daily chart for some reason. So the first chart is the correct daily chart.

I would believe its now at support zone of 100. Wrong?

 

[Riskyman]

reproduced from hik's folder

Uploaded with ImageShack.us

Exactly, The last time hindalco was at 100 levels was in Sept 2012 from where it bounced back to 125 levels. So logically that should form a support now that the stock is trading at 100 levels??? If hindalco bounces back from present levels then shouldnt 112 be the next target (112 being the last resistance) ???
On the other hand if it breaks 100 then god knows where the bottom is...


Repeat: Am i drawing the lines correctly???

 

[cellclinic]

keep an eye for break insider high wave spinning top weekly tata motors

ADDITIONAL INFORMATION ADD WITH INSIDER BAR ON ABOVE CHART

UPDATE : TATA MOTOR DAILY :