My charts (and yours too........)

hi Babu,

I agree with biggles.... Pls continue your post.... it is much better to learn technical on live data instead of discussing old data.....

hi babu,
i had entered into TATA motors last month at the current levels.
should i exit at the cost now, or wait for sometime for any upside possible?

thanks in advance.

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Prst, I know your question was directed at Babu, and that is opinion is very respected, but if you don't mind, I'd like to add my 2 cents worth.
There is enough steam in the tank for this market to head to 1220.86, which is the bottom of the daily cloud. At that point, it will be another decision point. From a conservative point of view it is facing S on the weekly in the form of that tenken and kijun combo at 1188.03. Allowing for a spike through that, the objective should still be met on the daily as the momentum favors such a scenario.

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I can't edit my comment, but I made a typo. I was referring to the confluence of the TK combo, it should have been R not S.

At least to this point, the TK combo on the weekly has proven formidable, as price spike to start the day, then went south the rest of the day.
Right now, this market is in a very precarious situation. Notice on the posted weekly chart how the stochastics is open and pointing upward. The only thing is it wasn't really OS and it is not smooth, which means it is probably going to follow suit with the other TF's. The daily is smoother and wide open, which means it is pointing north for a further move UP. The problem is there is an extreme bearish cloud it is about to bump into, which has bearish implications. Everything turns bullish if there is a daily close above 1261.80, but that is a BIG "if".

The favored scenario is that the weekly TK holds up, and the 4-hour chart will rule the day. After all, unlike Nifty the weekly cloud has not even been touched yet, so there is more room for a move south. Watch for a 4-hour close below 1124.16, as that will accelerate the move south. That point is the 4-hour kijun.

BTW, I didn't say nothing of the monthly. There was extreme stochastic divergence while it was extremely OB, which has been the case since Oct 2009. The monthly is still scheduled for a blowout, which means over coming months there are some southern trails to explore. Long term, this could put 753.55 on the radar, which is the monthly tenken. There is still lots of MT S along the way. When the next move south happens it could be very strong the monthly, because of the weekly cloud and the fact that price is still fighting it out with the monthly tenken.

There you go. All capsulized. ST, MT, LT, and anything in between.

Any View on TATAMOTORS Weekly...seems like it is trading @ Support Area

Diwali, this is why that even though I posted the daily chart why that I also alluded to the current situation on the 4-hour, and I did mention the weekly. I think in making trading decisions all TF's have to be considered.
I have the same TL drawn on my charts for Tata Motors. By looking at it, it would indicate we are in for a move back UP, because the TL stopped price action dead in its tracks. Because of that situation, and the fact next week will begin by barely getting squeezed on the other side, it amounts to a strong reversal or price action going east for awhile.
1124.16 remains key. Reaction there will determine if we get a complete TL break or we get a strong reversal, and only the wick will have broken the TL.

In respect for this thread, as it is more catered to charts and not analysis, I'lll continue my analysis on Tata Motors in my thread.

hi all i have gone through some stocks today morning and two of them catched my eye, since i believe the trend is negative due to crude effect and dmk news i was looking for the stocks that would be better for shorting this week, nifty is placed at an important resistance this week at 5600 -5650 which is its 50ema zone, i have found the chart bharti airtel which will be facing resistance at 50 ema zone at 333,and 200ema zone at 330
and macd is below 0, with trend line goin below, even stoch will show a sell signal may be on monday when mkts open weak , so i would consider shorting it with stop near 337-340 for a tgt near 300

Hi all,
As I've taken up a new postion in with Midas Technicals, I would like you all to review the website. There two temporary usernames and passwords here. Please review the site and give me your feedback so that any improvements can be made. With these usernames and passwords, one gets exclusive access to "Midas Talk" and "Live Chat". Hope this info is not reagrded as marketing exercise by the mods.Cheers!
Babu Kothandaraman

1) user name : midastouch password : midastechnicals

2) user name : sharethetouch pw : midastechnicals

We have created a couple of user ids for providing a 'peep in' for our friends...


user name : "midastouch" and "sharethetouch"


password for both the ids : midastechnicals
There is also a chat meant for traders - once you have logged in you will see the link at the top right.
(Kindly note that only one user can log in at a time with an user id. So if website is busy, you may have to try again...)
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TGT achieved in LnT.... Pls inputs ur thoughts also...

Ur suggestion will helpus to grow better.... so pls do input ur thoughts... Three arrows are now exactly represented by the candlesticks...

Gr8 job! :clap::clap: