New Intermed Uptrend!!

Iflex break-out. Target 1070, stop loss 920.

Infosys breaks out from long term rising channel. Opens up medium term target of 3350.

Tata motors has crossed a long term resistance. Buy with a stop loss of 530.

For more details visit

http://www.traderji.com/showthread.p...ht=tata+motors

cheers,
nkpanjiyar

Attached Images

	iflex.gif (16.5 KB, 12 views)
	infosys.gif (23.0 KB, 11 views)
	TataMotors.gif (24.7 KB, 11 views)

CONTINUATION PATTERNS

SYMMETRICAL TRIANGLE

-usually this one is a pause in the trend,before resuming the prior trend before the formation of the triangle.
-So,therefore,if the previous trend is up,expect a breakout and resumption of the uptrend.
-the average duration is about few months looking at daily charts.
-If the peaks are connected,we'll get a down sloping line.Connect the troughs,and we'll get an upsloping line.
-The point where these 2 lines could possibly meet is called the apex.
-When we see a symmetrical triangle,we are looking for the contination of the previous trend.Say the previous trend was an uptrend,we expect a breakout.
-When the close of that bar /candle is over the downsloping line connecting all the peaks,we say that a breakout has taken place.
-In a symmetrical triangle,we expect the breakout somehere between the half way to the threequarter point from the apex.
-If prices keep remaining within that triangle even after the threequarter point,that breakout may happen,but now a less powerful pattern.
-Once prices breakout,we could have a pullback ....this upper line that connected all the peaks and was resistance.........now becomes support.
-As in most patterns,volume decreases within the symmetrical triangle.
-On penetration of the upper line,expect a pick up in volume.

Trading :First draw the upper lines.Then the lower lines.If a breakout happens when it should,measure the height of the highest point in the triangle ,annd drop aline to the bottom line of the triangle........Let's call this "x".Now add "x" to the breakout area,...........this is our initial target after which we trail stop upwards.Buy the breakout and add on pullback,and then sit back and enjoy the ride.

Interesting point: Quite a few times,the bullish symmetrical triangle breaks down,just prior to resuming an uptrend..........usually occurs very close to the apex.
-characeterised by a 2-3 days of breakdown on high volume before sharply turning higher and resuming the uptrend.
-So,if we get prices moving near the apex of a bullish triangle,and then a big jump in volume on a breakdown,it's a warning of a shakeout bar/candle.

Attached Images

symmetr triangle.png (18.2 KB, 16 views)

Very nice,nk..............have been closely tracking TELCO and IFLEX as well.Both looking great.

Great stuff as always!
Saint

Saint

I noticed something interesting. TRIX (9) for the following stocks is is turning from down to up...

APIL, ARVIND MILLS, ASHOK LEYLAND, BAJAJ HINDUSTAN, COLGATE, I-FLEX, INDIAN HOTELS, LUPIN, LIC Housing Finance, JP Associates,

For the following the TRIX has already turned up and rising..

BEML, BHEL, Dr.Reddy, IGL

Interesting.....

Hi Karthik,

Yep......noticed it.They are all looking great!!Karthik,wanted to ask you something about the TRIX......do u use it on intraday chart patterns as well,or only on daily.Effective on the daily......from what I notice ,it seems as effective on the hourly charts as well.

Have you tried it on the hourly?Any good....?

Saint

Saint

I have never tried Day trading..(Also I cannot..I will have give up my job.. )

But on Fridays which is the weekend here, I try some mock trading. I use the medved quote tracker. In my opinion TRIX will be quite helpful in intraday charts. I have not tried on hourly...I will try this friday.. Just enclosing a chart with one minute tick...though not a good example.

regards

karthik

Hi Vinsu/Avinash/Karthik,

Agree.......there's a great satisfaction in helping others.That's one more thing I had wanted to post for some time.........There's always something we can give to another.Sharing need not always be monetary......various ways of sharing.We tend to think that we have to be rich to share.........but there are lots of ways of telling the world we care and would like to share.

Even when we are talking about money,.........there's a great feeling when you are able to help another.In the beginning,I was still new to this whole thing.......thinking of sharing was rather difficult.Well,so was making money....over time,I started to keep money aside for the very basic neccessities,then kept money aside for saving,then a percentage of the rest was given away ,and then only come our expenses........In the beginning it was rather tough.But I stuck to my resolve........we(my wife and I) went on saving and giving to noble causes before we spent on ourselves......this continues till today.

There is an intent every morning, a resolve to plunder even more from the markets ,because the more we have,the more many other people who depend on us benefit.Today I know a few strategies,tech analysis,etc..........share it with everyone.Teach as many concepts to as many people as possible.And I hope that they will in turn do the same for others.

Help,help everyone as much as possible.....Help in every way you possibly can......if you have made a lot of money,give a percentage away regularly.If you know something that could help someone,disseminate that knowledge.If there is a skill you possess and could help someone with it,pllease do it.

Let us keep all our petty little expenses to after we have saved for the future of our kids and given away some and helped others.Expect nothing in return.Help only for helping, share only for sharing, care only for caring ....not for any ulterior motive.


............okay,I have rambled on long enough.......

Sincerely,
Saint

Noble thoughts of a Noble Man...Saint, My dear friend, my respect and admiration is growing day by day..like a sensex shooting up without correction.... I am trying hard to emulate...will suceed one day..

warm regards

karthik

Saint

This reminds me of a desi humor group of which i was a part of in 2001 till 2003. It was not such an intellectually stimulating site but was good to get some Indian jokes to be used among friends.

Now coming to the point. What they used to do was hold small parties in Bombay and other places where Shri (equivalent to Traderji here) used to travel. This way we all used to get a chance to meet each other.

Has something like this happened before in Traderji? Looking at the profile of our members, it could not be such a bad thing to spend 3-4 hours together.

What say?

regards
kishore

Saint,

Thanks for the reply.
I want to start investing now. so, what is the one stock that you would advise me to buy now. And how much of them should I buy. Also, Can you give me the expected short term, medium term and long term target for that stock.

Also, What is the time frame when you say short term, medium term and long term?.

Thanks
Prashanth