Calm before the storm

amitt29 · #**101** 25th November 2006, 06:36 PM

Quote:

Originally Posted by toxicexpulsion

where are the nifty elliott wave analysis?

It will come when it has to come,its only near the completion of bull phase that it gets such a drastic decline as it happened in may-june.Which can at best be counted as 335,a zigzag flat.
Ofcourse it can stretch,no problems with that.We all make money.

Markets are not like theory,as a wave progresses the new dimensions are forecasted and estimated and traded.

Lets See.

kuldeep49 · #**102** 27th November 2006, 08:06 PM

Nifty chart attached. The progress to 4000+ is intact whatever others may say. Minor corrections on the way cannot be ruled out, so an absolute stop loss of 3850 would be recommended. Elliot wave followers may disagree with this scenario, but TA indicators show no weakness.

rahulg77 · #**103** 28th November 2006, 06:35 PM

hi Kuldeep,

using your thread to post a script that came to my notice as did not want to start a new thread just for one script. I think india cements is a good buy for now. was in a nice uptrend. then went into a nice consolidation near 230 levels. now its moved up on nice volumes above the consolidation range,w hich can also be called a rectangle pattern.

its all time high is 250- so a close above that would add even more strenght to it. Macd also had a crossover above 0.

see the charts attached and please add your views. also today there was a very high volume and a spinning top is made. would this implement something or would it just mean that since the market was falling lot of buying came in to keep this stock up.

regards

Rahul

kuldeep49 · #**104** 28th November 2006, 08:34 PM

Quote:

Originally Posted by rahulg77

hi Kuldeep,

using your thread to post a script that came to my notice as did not want to start a new thread just for one script. I think india cements is a good buy for now. was in a nice uptrend. then went into a nice consolidation near 230 levels. now its moved up on nice volumes above the consolidation range,w hich can also be called a rectangle pattern.

its all time high is 250- so a close above that would add even more strenght to it. Macd also had a crossover above 0.

see the charts attached and please add your views. also today there was a very high volume and a spinning top is made. would this implement something or would it just mean that since the market was falling lot of buying came in to keep this stock up.

regards

Rahul

Hi Rahul,
Absolutely. The stock had a breakout on 22nd when it crossed the 20 DMA line and also got a buy on Trix. ADX also started to indicate the start of a trend. It got confirmed by MACD on 24th. Have attached a chart. Looks like touching at least 265 or thereabouts.
Regards
Kuldeep

rahulg77 · #**105** 28th November 2006, 11:01 PM

Hi Kuldeep,

does trix work in ranging markets or it can be used anytime. yes agree with your analysis. should be a good buy.

Rahul

kuldeep49 · #**106** 30th November 2006, 09:40 AM

Quote:

Originally Posted by rahulg77

Hi Kuldeep,

does trix work in ranging markets or it can be used anytime. yes agree with your analysis. should be a good buy.

Rahul

TRIX is a momentum indicator that displays the percent rate-of-change of a triple exponentially smoothed moving average of a security's closing price. TRIX is a leading indicator and can be used to anticipate turning points in a trend through its divergence with the security price. It works best in conjuction with ADX. ADX shows whether there is a trend whereas TRIX together with its signal line gives very good entry points.

Nifty is consolidating and showing some volatility ahead of F&O settlement. If 3900 holds, then 4000 to 4050 would be the natural target.

Czar · #**107** 30th November 2006, 04:26 PM

I.Cement - correct me but would'nt it be better to wait for a pullback after the break for an entry ?

rahulg77 · #**108** 30th November 2006, 04:53 PM

Quote:

Originally Posted by Czar

I.Cement - correct me but would'nt it be better to wait for a pullback after the break for an entry ?

Hi Czar,

You are right many people wait for a pull back. It is useful as it gets us closer to s/l level and hence we can increase our portfolio size. But a stock might not necessarily pull back Though looks like I cement is on a pull back or a consolidation mode after BO.

Rahul

Czar · #**109** 30th November 2006, 08:07 PM

ok... dint see the price when i wrote actually... I think the pull back is happening... lets see where it halt, for entry ?

kuldeep49 · #**110** 30th November 2006, 10:33 PM

Quote:

Originally Posted by rahulg77

Hi Czar,

You are right many people wait for a pull back. It is useful as it gets us closer to s/l level and hence we can increase our portfolio size. But a stock might not necessarily pull back Though looks like I cement is on a pull back or a consolidation mode after BO.

Rahul

One can buy once it moves up to 242 or so.