Trading Strategies Using Technical Analysis

[Piuvbn]

Dear Jagan,

Just see the NIFTY chart attached.. I have taken retrace levels in two different time frames. Now you can see that at four places the retrace levels are matching. I am sure that if you again take retrace level of an other time frame you may get at least one or two places where you find that retrace level of all three time frames match.

Ok........ Now the question is why it is so?

The answer in simple words is the basic... The price levels of an index or script is decided by the trade which happens on it. And most of the trades are happening on some basic believes... You can call that basic believe as TECHNICAL LOOK TO THAT PARTICULAR CHART BY DIFFERENT TRADERS.
And wise traders always look to the chart with the help of TECHNICAL ANALYSIS

Now let us come to the point.
Finding Fibonacci retrace levels are the part of TECHNICAL ANALYSIS. Now it is not necessary that all the traders who use Fibonacci retrace levels should take it from the same time frame. Their view may differ according to their time frame of investment or trading periods.

But the place where retrace levels of two time frames match are the place where the mind of different traders with different views are getting matched. i.e. there you get a little stronger support or resistance

But you have to believe that all this happens because of some basic thing
and that basic thing is TECHNICAL ANALYSIS

This is the reason I call it as a science. I may be wrong also, but let us discuss it here till we both are proved right.

Thank you,

Gangadharan
TREND IS YOUR FRIEND TILL IT HAVE A BEND.....BUT.... THOSE WHO WORRIED ABOUT THE BEND WILL NEVER EARN TILL THE END.

Gagaganji
Please if you have time be little more specific or give links on retrece levels,how to see it on various time frames. Also please specify rsi,stoch etc time frame to be followed for the day trading strategy apeared in one of your post few pages back. Regards. Partha Roy

 

[pshirurkar]

Hi Raunak,
Will you please express your view on UCO BANK & VIJAYA BANK. for short term ( i.e.till march 2011)
Thanks.

 

[SwingKing]

Hi Raunak,
Will you please express your view on UCO BANK & VIJAYA BANK. for short term ( i.e.till march 2011)
Thanks.

Pshirurkar,

As of now, just watch Vijaya Bank. Think about it around levels of 98-101.

Uco bank can be entered right away with strict SL of close below 128.5 on EOD basis.

Tc

 

[SwingKing]

Just sharing some Macro Economic Data with you guys.

You can use this to formulate your long term Investment strategy.

Tc

 

[gangadharan]

Just sharing some Macro Economic Data with you guys.

You can use this to formulate your long term Investment strategy.

Tc

Raunak Sir,

Thank you for the wonderful post.. But it does not look very easy to use it .. at least for me..... So will you please give a detailed post describing how to use it effectively. It looks like a very HUGE CAKE in front of me. Off course I am hungry and I love Cake. But still sir,...... Will you please cut it and serve.

Thanks a lot.
Gangadharan.

 

[kindman]

Hi friends ...
Please share your views on nifty trend/

 

[JackPotter]

Raunak Sir,

Thank you for the wonderful post.. But it does not look very easy to use it .. at least for me..... So will you please give a detailed post describing how to use it effectively. It looks like a very HUGE CAKE in front of me. Off course I am hungry and I love Cake. But still sir,...... Will you please cut it and serve.

Thanks a lot.
Gangadharan.

I second that..

 

[columbus]

Pshirurkar,

As of now, just watch Vijaya Bank. Think about it around levels of 98-101.

Uco bank can be entered right away with strict SL of close below 128.5 on EOD basis.

Tc

Of late ,some banks have moved ,quite rapidly,especially some private banks.
In this correction ,among banking sector,one can look for KARNATAKA BANK.

 

[Apurv7164]

That's an awesome place.

I had visited Mount jungfraujoch and Mt titlis way back. I remember vividly writing my name on one of the tunnels in Jungfraujoch. Hope its still there.

Tc

Me too... however, I am still in love with Rockies in Colorado.... may be coz I lived and work there for couple of years....

Btw Raunakji, ur name was there when I visited it and I wondered this guy seem to be some big shot...

 

[SwingKing]

Of late ,some banks have moved ,quite rapidly,especially some private banks.
In this correction ,among banking sector,one can look for KARNATAKA BANK.

In my opinion this correction has changed the price structure of many banking shares. Though all may rally in case of rebound, the once which are likely to do the best are Allahabad Bank, Canara Bank, Federal Bank, Uco Bank, City Union Bank and Indusind Bank. These shares have a far better price structure in place than most other banks.

Tc