General Trading Chat

[onequorauser]

Come to think of it when Nifty PE goes to 19-20 then 8200~ levels are appropriate. Currently it is around 24..87. Who knows we may go there

Well what is to say PE should be 19-20? history...? When in history did you have a situation when you could borrow money at almost negative rates? I dont think it is apple to apple comaprison when comparing historical PE with the liquid-flush situation we have here

 

[Smart_trade]

https://mobile.twitter.com/GujralAshwani

Some good hints in posts by Ashwani Gujral on intraday trading support and resistance on higher timeframe....

Smart_trade

 

[vivektrader]

Nifty is at buy CD10 and banknifty at buy CD11, with included disclaimers.

Vivek

 

[pannet1]

Now this doesn't look like a classic H&S, does it ? Insufficient right shoulder.

View attachment 24290

But it looks scary, right

somewhere i read, H & S ... is not valid in a downtrend ... so in a Bull Run ... if H & S is at the top .. then it can signal a downtrend or retracement.

 

[timepass]

Yes, this one is right, but not that scary, as you are saying.
Lets see if NS breaches more than 100/200 points, below neckline. BTW, how you got this figure of 8200. Please check again.

The neckline seems to be around 9700, from there to 11200 is 1500 pts to the top of the head. Down 1500 pts to 8200.

When you see that big a picture, what's a 100-200 pts

 

[vivektrader]

Yes, this one is right, but not that scary, as you are saying.
Lets see if NS breaches more than 100/200 points, below neckline. BTW, how you got this figure of 8200. Please check again.

The neckline seems to be around 9700, from there to 11200 is 1500 pts to the top of the head. Down 1500 pts to 8200.

When you see that big a picture, what's a 100-200 pts

Volumes leading to formation of H&S is also important, there is huge difference in volumes leading to formation of head and shoulders pattern.

http://stockcharts.com/school/doku....hart_patterns:head_and_shoulders_top_reversal
"Volume: As the Head and Shoulders pattern unfolds, volume plays an important role in confirmation. Volume can be measured as an indicator (OBV, Chaikin Money Flow) or simply by analyzing volume levels. Ideally, but not always, volume during the advance of the left shoulder should be higher than during the advance of the head. This decrease in volume and the new high of the head, together, serve as a warning sign. The next warning sign comes when volume increases on the decline from the peak of the head, then decreases during the advance of the right shoulder. Final confirmation comes when volume further increases during the decline of the right shoulder"


Vivek

 

[traderniftybull]

The neckline seems to be around 9700, from there to 11200 is 1500 pts to the top of the head. Down 1500 pts to 8200.

When you see that big a picture, what's a 100-200 pts

ha ha
and here is the difference of opinion, you took neckline at 9700 and I took at 10000 (stretched) otherwise it seems at 10100

 

[traderniftybull]

Volumes leading to formation of H&S is also important, there is huge difference in volumes leading to formation of head and shoulders pattern.

http://stockcharts.com/school/doku....hart_patterns:head_and_shoulders_top_reversal
"Volume: As the Head and Shoulders pattern unfolds, volume plays an important role in confirmation. Volume can be measured as an indicator (OBV, Chaikin Money Flow) or simply by analyzing volume levels. Ideally, but not always, volume during the advance of the left shoulder should be higher than during the advance of the head. This decrease in volume and the new high of the head, together, serve as a warning sign. The next warning sign comes when volume increases on the decline from the peak of the head, then decreases during the advance of the right shoulder. Final confirmation comes when volume further increases during the decline of the right shoulder"


Vivek

The present H&S is still not completed and under formation. The one that formed previously was a failed one.
And as far as volume is concerned, if it there, it is good and if it is not there, it is still good. My view only

 

[HappyLife]

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[jain.er]

Can someone help me backtest a strategy in Ami? Pls...

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