Diary of a 315 Trader

[bapu4]

Dear Putuval,
I am posting a nifty chart with a wolfe wave on it !! Can u comment on it's validity ?
Also,I am posting a link of my post on Nifty on the thread on Wolfe wave in which i have posted two different setup of WW forming !! Please have a look there too !!
The link is : http://www.traderji.com/technical-analysis/4674-wolfe-waves-136.html#post885799

Regards,
Vivek

 

[bapu4]

Dear Putuval,
I was jus going through charts and came across Ranbaxy's chart ! I have observed a very striking thing. The big fall of Ranbaxy owing to USFDA about three weeks back was already there in the red cloud !! I am posting the image dfor ur ready refrence !! What i mean to say is , i have seen that the movement of price sometimes is dictated by the cloud immediately below it !! Actually , the formation of cloud is by the price movement but i see many a times that ,the price movement is dictated by the shape of the cloud below it !! Can u throw some comments ? I am very excited about this observation because if it is so, the job becomes highly objective and simple !! Isnt it ??

In future also i will post the images of such falls if i see one !!

How can we locate such divergences :

1.By screening with what parameters ?
2.I am searching for an ichimoku screener for indian stocks ,so far havent got any . Can u throw some light on this ?

God bless u !!
Rgds !!

 

[trade4putuval]

Dear Putuval,
I was jus going through charts and came across Ranbaxy's chart ! I have observed a very striking thing. The big fall of Ranbaxy owing to USFDA about three weeks back was already there in the red cloud !! I am posting the image dfor ur ready refrence !! What i mean to say is , i have seen that the movement of price sometimes is dictated by the cloud immediately below it !! Actually , the formation of cloud is by the price movement but i see many a times that ,the price movement is dictated by the shape of the cloud below it !! Can u throw some comments ? I am very excited about this observation because if it is so, the job becomes highly objective and simple !! Isnt it ??

In future also i will post the images of such falls if i see one !!

How can we locate such divergences :

1.By screening with what parameters ?
2.I am searching for an ichimoku screener for indian stocks ,so far havent got any . Can u throw some light on this ?

God bless u !!
Rgds !!

As per ichimoku, the farther the candle goes from the cloud, the larger the state of inequilibrium. So we should always target the direction of the cloud.

But I am afraid this has happened in the past with me in Ranbaxy too. I traded as per the inequilibrium funda, and especially with Ranbaxy. I do not remember if I have done this with any other stock.

But you need to have patience and capital to trade this fundamental. Because it took a lot many days for Ranbaxy to touch the cloud, and also it kept going against the cloud for some more days, by which my margin got exhausted, and I had to exit in loss.

 

[bapu4]

Dear T4P,
Ya thats correct !! Infact i am trying to find the approximate end point of the inequilibrium and i will come back to u !! If u see the top red candle IT is NR7, and also indicates the ensuing fall !!

Secondly , we also have to have some other indications that the rally is about to exhaust !! I am working on it ! I will come back to u for scrutiny !!

God bless u !!
Rgds !!

 

[bapu4]

Happy safe,silent,clean and prosperous diwali to all my dear friends !!

God bless u all !!
Regards !!

 

[trade4putuval]

Bank India


Check daily chart of Bank India.

Bank of India has run a lot from 170 to 240 today in 4 trading sessions.

Short term trend down: Chikou Span is considered to provide resistance or support to a trend. Based on chikou span, I have identified the following:

• There are two resistances, one at 241.8 and one at 294.3. The first chikou span got hit today. The later resistance seems to be very far away considering the RSI in daily.
• So if at all it has any plan to go up again, I am assuming it to first find the support at 220.1 before going anywhere up.
• But then, we have a flattened Kijun and tenken. A flattened Kijun indicates that the price is planning to touch tenken anytime. Now we cannot rely on this blindly because many times we have seen tenken rushing up to meet the price action instead of price action going toward tenken.

Based on swing based trading, I find the following:

• Swing high was 193.5 on 19th September.
• A large white candle broke this swing high on 31st October.
• Since a swing high got broken, price action will tend to reach the next swing high, which happened to be 243.25 on 1st July.
• If this swing high is taken out, the next swing high is at 298, which is very far but reachable.

So I find Bank of India giving us 15 to 20 rs profit in the current week. Let's see.:thumb:

 

[timepass]

Re: Bank India

Check daily chart of Bank India.

Thank you. Also, the cloud below has flattened and is trending downwards in 3-4 sessions.

 

[bapu4]

Hi TP,
Kya bbaat hai,main bhi yahi kahane vala tha that the cloud below is flattening for next 3-4 candles ,this is a very good area of ichimoku and there is no literature on this ,pl. see my post above I had asked T4P for it and we(U and ME)are going to be research partners on this topic,pl convey ur consent, 'cause this seems to be highly undisclosed area of Ichi,isnt it?

 

[Gandhar.]

denabank has not touched 3ema for 3 DAYS....

 

[bapu4]

hi T4P,
Congrates BOI has completed the tgt of 220,maan gaye Ustad !!:clapping: