TechViews

karthikmarar · #1 11th April 2008, 02:42 AM

Hi friends

I am starting this thread to share some technical views on stocks. My plan was to post these on my blog in the forum. Now I realize that the Blogs are one of the most neglected sections of the forum. In order to learn and improve we need feedbacks on our analysis and thoughts from the experts which was not forthcoming from the Blog entries. So I thought of starting a thread, which has more visibility and hence some comments and feedbacks. Of course the idea is not to restrict to my posts only, others too are encouraged to post their own charts and views.

As most of you know my perspective is restricted positional trades since that is what I do.

So without much ado let me set the ball rolling. The first chart is a view on the nifty. The Nifty seems to form a falling wedge. Wedges are one of the most difficult patterns to trade. Also there are many different opinions on wedges. In general a falling wedge can be a continuation or a reversal pattern. But a falling wedge after a long up trend is most likely to be Bullish. Also any breakout would have to with a good volume expansion.
Today the nifty retracted from the top wedge line which would around 4780. If my perspective is right and the nifty does not breakout of the wedge soon we may see the nifty slipping down to 4200 levels…the lower wedge line…
My knowledge on patterns is rather rudimentary. It would be nice if other chart experts like Ashish (Aca Trader) add their comments

Regards

Karthik

satya_pinku2003 · #2 11th April 2008, 09:37 AM

Sir i see a triangle with consolidation near uper trend line .... waiting for a break out
love to be corrected

Regards
Satya

RSI · #3 11th April 2008, 09:40 AM

Quote:

Originally Posted by karthikmarar

But a falling wedge after a long up trend is most likely to be Bullish.
Karthik

Seems to be a typo here. I think you intended to say down trend.

Good effort. Keep posting charts. That is the only way all of us can learn.
Thanks and regards
R. S. Iyer

karthikmarar · #4 11th April 2008, 10:02 AM

Quote:

Originally Posted by satya_pinku2003

Sir i see a triangle with consolidation near uper trend line .... waiting for a break out
love to be corrected

Regards
Satya

Satya

IMHO the low of the 22nd january is an abnormal value (an abnormal panic reaction) and I normally ignore such values. This again is a debatable point. See, how the views differ. The purpose of this thread is to bringout the different views. Seems that we are both bullish ... only in my case the breakout would take longer and may be at a lower value..

regards
karthik

karthikmarar · #5 11th April 2008, 10:08 AM

Quote:

Originally Posted by RSI

Seems to be a typo here. I think you intended to say down trend.
R. S. Iyer

No, Typo, my friend. We have been having a long uptrend for a few years. Attached weekly chart would give a better perspective.

reagrds
Karthik

satya_pinku2003 · #6 11th April 2008, 10:27 AM

Sir , on 22nd jan after circuit open we remain even went lower from the lower circuit level again as in chart (SPOT) we just test that 22nd level and bounce back so thinking that level acting as some demand jone may act as a strong support that is why i am taking that level into consideration

Waiting your valuable comments

Regards
Satya

uasish · #7 11th April 2008, 11:45 AM

Quote:

Originally Posted by karthikmarar

No, Typo, my friend. We have been having a long uptrend for a few years. Attached weekly chart would give a better perspective.

reagrds
Karthik

Beautifull chart ,MS does not have this facility.Everything is clear in the chart.

Saint · #8 11th April 2008, 11:48 AM

Good to have you posting again,Karthik.......as always looking fwd to more!

Saint

karthikmarar · #9 11th April 2008, 02:10 PM

Quote:

Originally Posted by satya_pinku2003

Sir , on 22nd jan after circuit open we remain even went lower from the lower circuit level again as in chart (SPOT) we just test that 22nd level and bounce back so thinking that level acting as some demand jone may act as a strong support that is why i am taking that level into consideration

Waiting your valuable comments

Regards
Satya

Satya

Also what you have drawn is a more of a decending traingle though not a perfect one. A decending Traingle is a bearish pattern..

regards

Karthik

karthikmarar · #10 11th April 2008, 02:13 PM

Quote:

Originally Posted by uasish

Beautifull chart ,MS does not have this facility.Everything is clear in the chart.

Thanks Asish. Making looking looking charts..looks like that is the only thing I am good at

Quote:

Originally Posted by Saint

Good to have you posting again,Karthik.......as always looking fwd to more!

Saint

I hope to continue posting ....