Thank you Karthik for your input/suggestion.
You are right. The 3 SMA and the 13 SMA are moving horizontally. But, the 3 SMA has crossed over the 13 SMA, what does that indicate? Does'nt that indicate we have to wait for the 39 SMA to change its trend to go long on this.
If the 3 SMA were...
This is what I infered from the chart that I have attached above. Please correct me if I am wrong.
- The 39 SMA is on a downtrend(This is the intermediate trend).
- The 3 SMA has crossed above the 13 SMA. This does not indicate anything. (Because the 39 SMA is trending down)
- We have to wait...
I was going through your system and trying to apply it to one of the scrips. I chose Ranbaxy.
I am attaching the chart as JPEG. I have plotted the 3, 13 and 39 SMA on the top. I am using a daily chart.
Can you explain me what does this chart tell you...
Can you tell me how to get data into metastock using hyperserver lite. I followed the instructions in their help. The 3rd point there tells us to do this
"3. Create interested symbols with required periodicities in new MetaStock folder. To do it you should use The Downloader...
Thanks for your advice. Appreciated.
Will hold on to it for now. I know you might not want to predict the targets, but do you have any approximate targets for this?.
Also, what is the support and resistance for this scrip?