Post your charts here!

swingtrader · #21 10th April 2005, 10:39 AM

I have attached one of my charts. Watching closely to see if Nifty will break the recent low just below 2000, if that breaks I would be looking for a short term down move to the next support level of 1900. What happens at 1900 is the key, if it breaks that level I would be looking for a significant intermediate move down in which case I will be getting ready to buy stocks cheap once the move is done.

I will be posting few more market breadth & sentiment related charts that I have built for my use.

--SwingTrader

uncle sam · #22 10th April 2005, 10:54 AM

hi,
well i think, nifty can take support at 1955,1905 level if this trend continue.

bye take care
god bless you
uncle sam

swingtrader · #23 10th April 2005, 11:23 AM

I have attached NSE breadth charts that I have built for my study. Hope these charts help the community here. I have put my analysis on the charts, I usually don't try to predict anything because I believe prediction is not needed to trade successfully. I would rather trade based on what has already happened in the market and then trade based on what the probabilities are. I use these charts to stay on the right side by confirming moves in the market.

The attached charts are NSE Advance/Decline line, NSE McClellan Oscillator & NSE McClellan Summation Index. You can find tutorials on interpretation of these indicators at Market Indicators

Brief explanation:

Advance/Decline Line: An early indicator when this line collapses it means that the market has lost leadership and there could be a intermediate move down. This indicator also turns up before the market starts its bull leg. When the market is rising this indicator will confirm by steadily moving up.

McClellan Oscillator: Short to Intermediate overbought-oversold indicator based on advances & declines of the market.

McClellan Summation Index: This indicator is also an early indicator - collapses when the leadership in the market is gone. When this indicator rises strongly it indicates the start of a intermediate term bull move up.

NOTE: These are not timing indicators but give good insight into the internals of the market and can thus aid in eventual timing of investment.

--SwingTrader

swingtrader · #24 10th April 2005, 11:32 AM

Quote:

Originally Posted by uncle sam

hi,
well i think, nifty can take support at 1955,1905 level if this trend continue.

bye take care
god bless you
uncle sam

Let us hope so, but look at the breadth charts I have posted and see if a move up from these levels is possible. A small correction here seems more probable and would actually be healthy for the market. On the other hand a sideways move could occur instead of a correction.

Anyway, I am watching everything carefully at this time because what happens at these levels is the key to the next intermediate term move.

Happy Trading!!!

--SwingTrader

TATrader · #25 10th April 2005, 01:07 PM

Excellent analysis Swing Trader. I personally believe the A/D line is a good leading indicator of the health of the market.

BTW does Viratech provide the AD line or should I try some other data provider as my current data does not have one. I have to create one manually.

swingtrader · #26 10th April 2005, 03:54 PM

Quote:

Originally Posted by TATrader

Excellent analysis Swing Trader. I personally believe the A/D line is a good leading indicator of the health of the market.

BTW does Viratech provide the AD line or should I try some other data provider as my current data does not have one. I have to create one manually.

I am not aware of any provider who provides breadth or sentiment indicators for the Indian markets (I am searching for one who does). I have computed these indicators myself from my database. If I find any providers I will post their names/websites here.

--SwingTrader

jadeja1 · #27 14th June 2005, 06:01 PM

Hi folks - i'm kinda new to this and to shares too but have heard that Indian shares are now the big 'biz'... Any ideas as to how i may buy or sell Indian shares form the UK? Are there any online trading companies I can use that specialise in trades for the NRI market??? Any info useful...

shenbagabaala · #28 15th June 2005, 05:15 AM

Thank You for these chart tips

jnaik22 · #29 26th June 2005, 10:05 PM

Good Charts. I also feel the advancing /declining ratio is a very good indicator as to where market is heading.(at least in the short run.)
jnaik22

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