Charts for the Day

[anil_s_trivedi]

Dear VJAYji,

Nightmare fall H&S......Let it come closer to 200 SMA will see there...By the way, volume was above avg on friday still stock managed to close almost close to thursday...

Stock also tested 29th august lows...but managed to close above lows of 29th august...

 

[jain.er]

Dear Anilji, in the hindsight where one could have taken longs in the last 3 to 6 months in Allahabad Bank

 

[anil_s_trivedi]

Dear Anilji, in the hindsight where one could have taken longs in the last 3 to 6 months in Allahabad Bank

Dear Jain.er,

Although looking in hindsight its easy to spot trades, but emotions during the same time kills our thinking ability...

Let me clear it first, the trading/trades below 200 SMA are only good for swing trades with tight stoploss...Nothing wrong to get into those trades, but your capital allocation need to be lesser than what you have for scrip in uptrend...

Once scrip is in uptrend, best to get into pullbacks with nice consolidations or breakouts from the same...

Moving averages here helps us in giving the framework of different timezones interacting at key levels...

 

[vagar11]

Dear Jain.er,

Although looking in hindsight its easy to spot trades, but emotions during the same time kills our thinking ability...

Let me clear it first, the trading/trades below 200 SMA are only good for swing trades with tight stoploss...Nothing wrong to get into those trades, but your capital allocation need to be lesser than what you have for scrip in uptrend...

Once scrip is in uptrend, best to get into pullbacks with nice consolidations or breakouts from the same...

Moving averages here helps us in giving the framework of different timezones interacting at key levels...

Thanks Sir. Such clarity and observation. Saving this chart to my google drive.

 

[AndhraCement]

anil ji

Is there a website or a tool using which i can see live candle stick patterns

The sites in which i see , show candle stick patterns for 6 months and above

 

[ankur07090]

anil ji

Is there a website or a tool using which i can see live candle stick patterns

The sites in which i see , show candle stick patterns for 6 months and above

These are not automated candle stick patterns. These are drawn manually by their experience.

 

[anil_s_trivedi]

anil ji

Is there a website or a tool using which i can see live candle stick patterns

The sites in which i see , show candle stick patterns for 6 months and above

Dear andhraCement,

I use sharekhans Tradetiger in that it is possible to see candlestick patterns...but frankly speaking i had not used it much...so anybody here have experience with it, might give some suggestions...

 

[mindgames]

Dear Anil,

Do you use P&F charts simultaneously, along with regular candle/bar charts?

If so, what is your source for this? "Stockcharts" provides this but I wonder if it is drawn the same way Wyckoff studies suggest (I believe Wyckoff used closing prices - though I dont have anything to confirm this.

Thank you.

 

[anil_s_trivedi]

Dear Anil,

Do you use P&F charts simultaneously, along with regular candle/bar charts?

If so, what is your source for this? "Stockcharts" provides this but I wonder if it is drawn the same way Wyckoff studies suggest (I believe Wyckoff used closing prices - though I dont have anything to confirm this.

Thank you.

Dear mindgames,

I studied P&F charts also. But now i am fully focussed on bar/Candle charts only...Since my inclination towards holding longer time has increased in past 2 years...also it relieves of watching every tick on charts of holding stocks in the list...

I tried P&F using bulls eye broker, its a good software...I actually got inclined towards P&F while i am researching on Relative strength. And there is a load of material in it. So tried to analyse relative strength using P&f charts...

In wyckoff great emphasis is laid to volumes...These days it with advent of algos, its getting hard to decipher it...bcoz many times rush of volumes is simply their act, so its hard to get by clean picture out of it...

But with more focus on price action and volumes combined it has improved a lot...

 

[anil_s_trivedi]

Godrej properties looking good at current levels with weak below zone at 340-344...
Stock already exhibited 14.5% correction from augusts high...

This is just a observation post, as of now i dont have any position in it...