simply stock future charts

[systrader]

ICICI BANK

Didnt get what you want to convey with a down arrow on right.
But, if you see daily chart it is clear breakout not only in price but RSI also

 

[sangram1705]

Didnt get what you want to convey with a down arrow on right.
But, if you see daily chart it is clear breakout not only in price but RSI also

When market proves me to be wrong, I will humbly accept it.
BTW everyone is different.

1) some search breakouts & some are intrested in failed breakouts. I am in the 2nd group for the time being.

2) success of My trading system rests purely on identifying opportunity before any indicator does or the mass takes action. So when some popular indicators give false signals I make more.

3) & YES SOMETIMES I GET IT WRONG ALSO!!!!!!
But I dont give a 2nd thought to exit when market proves me wrong. For the time being market has yet not proved my analysis wrong.

 

[sangram1705]

ICICI BANK

Exited @314 (TSL Hit due to tightening of stop)

 

[sangram1705]

L&T daily

Before anyone jumps in without 2nd thought some caution:

1) The neckline is ascending. hence it is confidence damaging.
2) Neckline break must be accompanied with volume peaks. Which is also not clear.

Better to trade on pullback to neckline after watching pullback strength.

Taken 1600PE @ 28
exited @ 72.0

 

[sangram1705]

TITAN

 

[sangram1705]

ITC

Some questions in my mind:
IF THERE IS A RALLY WILL ITC BE LEFT BEHIND? IS IT POSSIBLE FOR THE MARKETS TO RALLY WITHOUT ITC?

EXTREME CAUTION in trading the pattern
1) NO VOLUME CONFIRMATION
2) IF THE PATTERN FAILS IT COULD BE A BEAR TRAP ALSO & MAY NOT GIVE AN OPPORTUNITY TO EXIT WITH LITTLE LOSS.

finding a perfect H&S setup is also rare.

 

[sridharreddy143]

welcome

i am a new to this group

 

[timepass]

As per my chart study there is no H&S pattern and I clearly see the emergence of a bullish pattern. Sorry cant post the level as per forum rules.

you can post charts

 

[sangram1705]

welcome

i am a new to this group

u are most welcome

 

[sangram1705]

you can post charts

Why his post is deleted. Has someone reported his post or there is option to delete ones own post.

Anyways if bullishbull posted this with reference to ITC post, some of my observations:

1) Presently the zone at which ITC is trading would be better to avoid./no trade zone. Before moving north or south it may grind on in the highlighted area to eat up stoplosses of both sides as has happened in the past.
2) In my chart I wanted to convey that ITC IS PURELY A WAIT & WATCH GAME FOR NOW.

I have also mentioned that the H&S pattern is not confirmed & cited the reasons for it.

My present knowledge in TA is only meagre, I expect history to repeat itself again & again unless proved otherwise. Only thing I can do with my present knowledge is remain cautious of risks before entering into a trade.

I AM VERY BAD IN PREDICTING!
So TP bhai has rightly said, if you have any other views, pl share with all.
Thanks