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| Discuss Today's Buy Levels at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by uasish Nifty Fut 60 mins chart is having confluence of 2 Price ... |
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#1452
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satyam h and s top pattern started developing on 22/08 and has neckline at 400-410 ..... it has bounced from that level atleast 4 times ..Now will this pattern pull it down or will it give a low risk entry will be decided on where it closes today
Last edited by rajaram.dilipkumar; 25th May 2008 at 11:11 AM. |
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#1453
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An Expert of Metastock gave Long signals in J.P.Assoc Fut 1 min chart
Last edited by uasish; 10th August 2008 at 11:45 PM. |
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#1454
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By 2 entirely different (proprietory) methods the 'Critical' price point was directed to 1 single point 6064,in yesterday's Hrly chart of Nifty Fut.
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#1455
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Will watch the charts in eve, thks.
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#1456
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rajaram,
However a quick check gave me this in Satyam Fut 60 mins. Asish N.B. Yet no Entry Signal in Hrly chart. Last edited by uasish; 10th August 2008 at 11:45 PM. |
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#1458
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Quote:
actually my call was for a short signal .... when its a H & S top we can go short on the scrip with stop loss as the neckline and vice-versa for a H and S bottom.. In satyam it is a H and s top so it has a rewarding short trade below 400-410 on closing ( in cash )... Even in the hourly chart i can see that i has a rounding top formation which again is bearish .. but iam watching out for volume picture since typically in a Hand S top formation usually the rally to the right shoulder occurs on less volume than on previous rallies which is the case with satyam ..however i have to wait till the neckline is penetrated with high volumes . If the neckline (400-410) is broken on low volumes then it could indicate a false signal.. All said since it has rallied on so many occasions in the past from 400-410 levels to 450 it represents a low-risk entry point with 406 as SL.. Today i have entared a long trade on this but iam fully aware that i have to exit no matter what if 400 is broken even on intra-day basis because the target once 400 is broken will be 350. |
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#1459
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Nifty Fut hrly chart (chart posted earlier) still has (+)ve bias.
Today's 1 min chart's Trendline which may work as Supp/ Res . Last edited by uasish; 10th August 2008 at 11:45 PM. |
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#1460
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Mkt humbeled me.
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