Hi, I noticed one more thing with regards to Educomp. As per your correction strategy, the candle has to touch 34 ema in 16 to 18 weeks.
On 5th July 2011, it made a high of 416, when 34 ema was 420, which means the 34 ema was not touched.
On 10th June 2011, it made a high of 455, when 34 ema was 446, which means the 34 ema was last touched on 10th June 2011.
10th June happened to be a Friday. So yesterday, it had completed 12 weeks. By 30th of this month, it will be 16th week. But my only concern here is that in case of Educomp, the 34 ema had always been touched. This is the first time, the candle is staying away from 34 ema since a long time (12 weeks). So does your 34 ema apply in the case of this stock?
Regarding the June spike
, I feel the schools are all opening and most of the state education board have started implementing smart classes. But ever since, the stock has been battered a lot due to Income tax raid. The real news is still not known, as to why this stock is getting hit again and again. The good news might be the quarterly results will be showing profits due to this smart class implementation by state syllabus, which could be a reason why the stock will move up to touch 15 ema or possibly the 34 ema too. Correct me if I am wrong!
Raj
On 5th July 2011, it made a high of 416, when 34 ema was 420, which means the 34 ema was not touched.
On 10th June 2011, it made a high of 455, when 34 ema was 446, which means the 34 ema was last touched on 10th June 2011.
10th June happened to be a Friday. So yesterday, it had completed 12 weeks. By 30th of this month, it will be 16th week. But my only concern here is that in case of Educomp, the 34 ema had always been touched. This is the first time, the candle is staying away from 34 ema since a long time (12 weeks). So does your 34 ema apply in the case of this stock?
Regarding the June spike
, I feel the schools are all opening and most of the state education board have started implementing smart classes. But ever since, the stock has been battered a lot due to Income tax raid. The real news is still not known, as to why this stock is getting hit again and again. The good news might be the quarterly results will be showing profits due to this smart class implementation by state syllabus, which could be a reason why the stock will move up to touch 15 ema or possibly the 34 ema too. Correct me if I am wrong!Raj
PLEASE NOTE THAT THESE TIMEFRAMES ARE FOR NIFTY FUTURES ONLY.
so any stock specific call one have to test this method before take any trade.
i am watching 15 ema let us see what happens next week...!!
