Teach A Man To Fish And.........

[V FROM TCR]

The daily, weekly and the monthly charts of Nifty are attached. As is aparent, monthly is still in uptrend. Daily and weekly are in downtrend. Infact the daily pivot low got cracked on the downside yesterday only. So, NIFTY is in an intermediate downtrend, while the primary trend is still UP.

Gandhi sir.
Can u tell me which s/w you using for TA if you have no problem.
regards

 

[djsinha]

saint or any senior member. as per saints strategy, can we enter bartronics as ,on weekly charts, it is in uptrend. keeping low of 12/5/2008 as stop loss. please correct me if i am wrong, as i am still in learning phase. so trying to learn trading on pivots.

Hi XMan,
Though I'm not a senior member.....still let's try answering your querry. As far as Bartronics is concerned, we can't say for sure that weekly is in uptrend...because we have got a higher pivot high but not a higher pivot low. The pattern in the weekly can as well be a double top pattern and can come all the way down to the previous pivot low and down furthur.

Now that doesn't mean that you can't go long on Bartronics. You can buy the daily above the previous pivot high of 252.50 keeping SL at 205.25 as you rightly mentioned and moving the SL up as more pivot highs and pivot lows form.

Or, you can do one more thing. You can wait until weekly prints a higher pivot low. You can buy on the immediate next candle to the candle forming the most recent pivot low on the weekly.

HTH.
Cheers
D J Sinha

 

[lvgandhi]

Gandhi sir.
Can u tell me which s/w you using for TA if you have no problem.
regards

I am using qtstalker in Linux, FCharts, AMIBROKER and recently Metastock in Windows.

 

[V FROM TCR]

Thanks for your quick replay.

 

[vvvv]

I am using qtstalker in Linux, FCharts, AMIBROKER and recently Metastock in Windows.

can u pls explain why u need so many softwares..isnt 1 sufficient

 

[Satyen]

Hi XMan,
Though I'm not a senior member.....still let's try answering your querry. As far as Bartronics is concerned, we can't say for sure that weekly is in uptrend...because we have got a higher pivot high but not a higher pivot low. The pattern in the weekly can as well be a double top pattern and can come all the way down to the previous pivot low and down furthur.

Now that doesn't mean that you can't go long on Bartronics. You can buy the daily above the previous pivot high of 252.50 keeping SL at 205.25 as you rightly mentioned and moving the SL up as more pivot highs and pivot lows form.

Or, you can do one more thing. You can wait until weekly prints a higher pivot low. You can buy on the immediate next candle to the candle forming the most recent pivot low on the weekly.

HTH.
Cheers
D J Sinha

hi
DJ if we see up move from today onwards then yesterdays low will be new pivot low so stop may be not 202.25 it may higher than that

plz comment

Regards
Satya

 

[xman_in]

Or, you can do one more thing. You can wait until weekly prints a higher pivot low. You can buy on the immediate next candle to the candle forming the most recent pivot low on the weekly.

HTH.
Cheers
D J Sinha

first of all thank you DJ for replying to my post. the reason i want to enter this stock is, i may be wrong, last two sessions despite overall market going down it is still holding above 216.50. i thought as it is showing some strength i can enter this stock. however i like your suggestion to let it make a new pivot low on weekly charts. thanks again

 

[djsinha]

hi
DJ if we see up move from today onwards then yesterdays low will be new pivot low so stop may be not 202.25 it may higher than that

plz comment

Regards
Satya

Quite right, Satya. Actually a mistake from my end. Thank you for pointing that out.
Cheers
D J Sinha

 

[mahesh2007]

seniors please answer.

(1)In the attached chart, when double bottom D1 occured, Nifty did not go up which was expected by this pattern.

(2) when double top T1 occured Nifty did not go down !

Is it defiance of chart pattern or I have committed some mistake ?

waiting for your reply.

regards

 

[lvgandhi]

can u pls explain why u need so many softwares..isnt 1 sufficient

In Case problems in Windows, I can use linux and still have data and analysis.
In windows I started with Fcharts. A few months back I started Amibroker. Hence I was conituing both. Recently only I started Metastock. I will settle with ami & meta in windows.