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Kapil

Mihir.

Came across this great looking chart during analysis, and wanted to share it with all and get your comments on whether it makes sense, or not…

Below is the ONGC weekly chart - two things jump out: 1. The classic Inverted H&S pattern and 2. The long-term trendline. If it gives a breakout from the H&S pattern and the TL, then the move should be sweet.

Saint/Seniors, request your feedback on the same….

Mihir.

Would like to know how you go about it….

Thanks for the kind words .Though I dont deserve them…

No "sir " title for me….ST is just fine….with "sir" I feel so guilty that I dont deserve it….on lighter note,I get the same feeling which a police constable will get if addressed as "Police Commissioner".

Smart_trade

I have tried to put my observations and hope the market pans out as predicted but it rarely does so. So take all this with a pinch of salt and trade the charts not the prediction.

Bee

Regards,
Monk

Bee

Thankyou for your kind words. I do not trade patterns as such so will not be able to comment on your query. Generally as a long-term stock investor, I can say that wait for Nifty to hit the gap and then collect your favorite stocks. I did the same when Nifty hit its lowest in Oct 08. This gap filling, if it happens, will be a rare opportunity, as after this the Nifty will move further up along with stable Govt and India growth story.

Happy investing and trading

Bee

I found this threat very informative, bee if you can put some light on NTPC Weekly chart which i think created H&S pattern and now it is trading on support level i already have 75 qty at 183 would like to add some more.

your valuable advice would be highly appriciated

Regards
Bana0098

Can someone post the charts for Crude Oil? Seems like we are close to a breakout…

Which crude chart are you looking for - Nymex or the one on MCX

Bhagyashree

Dear Saint,

Thank you for the reply you have posted "in detail" for my last query.
Now regarding the stock Jindal Steel and Power again…

Can we shift our stops to the area marked red that is 1474 as it seems to be a pivot in the daily chart posted above.

Thank you,
TFL.

Arvind
Reliance Infra
Hindalco
IFCI
Reliance Cap
Tata Motors
Tata Steels
Nagarjuna Fert
Ispat Ind
Balramput Chini
Hind Constr
ICICI
JP asso
SAIL
UNITECH
Skumar
Sesa Goa
Axis
Bharti
Noida Toll
Welspun
NTPC
Yes Bank
IDFC
Sunzlon
Punj Lloyd
GVK Power
RCOM
RPL
GMR
IDEA
IndiaBulls Real
DLF
HDFC
RPOWER

Is my interpretation right? Check the charts.
Rolta, ABAN, Reliance Capital: All have hit the stop loss.

Kaiser.

Great stuff.

Saint

Can go long above the weekly resistance or wait for the previous PH on daily to be taken over?

Will go long once it breaksout, with stops at recent PL.

Question : Can I enter now or wait for a mini pullback n enter with closer by stops?

Posting my findings(!) for the first time in this thread… so seniors pls bear with my mistakes and guide me and correct me with entry/stops…

here we go…
GVKPIL: Entered InterUT, made a pull back and onFriday crossed the PH…

Time is ripe for us now to make Big Killings through Daily Trends.

Thanks a Million once again to Saint

Thank you Saint sir for the post at the right time.
Now I have a doubt.
Say,
We are in Monthly, Weekly & Daily Uptrend.
Then we went to Daily Downtrend and getting some pivot lows cracked in Daily charts.
After some days, we got a Weekly Pivot low cracked.
"Now we are in weekly down trend. But no daily pivots after the weekly pivot low breaks."
1. Will we go short there on the Weekly Pivot low Crack or here we only trade uptrends till monthly is in uptrend?

Thank you,
TFL.

Hi TFL,

A great question as always………….In this thread,we do only the uptrends…..But let us stretch your question to both directions.

Weekly Uptrend,Daily Pullback…..Look to get long
Weekly Uptrend,Daily Uptrend……Raise stops to previous pivot lows,till they are hit.Once hit,you are out of the longs….But not in shorts as yet.
Weekly Uptrend,Daily Downtrend……Look to get long.
Weekly still in Uptrend,Daily downtrend continues…….Still sitting on hands.
Weekly Pivot Low Cracks,officially in Downtrend……Short the pivot low crack.
Weekly Downtrend,Daily Uptrend,…….Looking to short.
Weekly Downtrend,Daily Dntrend…….Adding all the while,Stop being brought down to prev Pivot highs.
Weekly in Downtrend,Daily breaking Pivots to the Up……….Again,exit all posns.

Once again,if weekly went on to start a new uptrend,then we are looking to Buy the Pivot breaks………….in short,we look to Buy in the Uptrends,Short during the Downtrends,and stay out of the rally within a downtrend,and the declines within an uptrend.

As for this thread,we are basically staying away from the derivatives side,and so long as shorts are not possible on an intermed basis,we can only trade the Intermed Uptrends,not the Downtrends :( :(

Unless you have an account big enough to manage the risks of at least 1lot in Derivatives Section………..then both sides can be played.

All the best!
Saint

MJ

ABAN:Now in 2/3rds,will enter last third on a breakout to new highs……..

The next highs would be at around 617 or 849 area for Aban?

Bee

Hi TFL,

Just an update on Jindal Steel and Power………..newer highs on the daily charts.Latest pivot lows is 1331.Weekly Pivot stands at 1132.

Your call now……My style of Trading:When this Daily Pivot breaks ,I am out……..And then I track the Daily Downtrend, sit on hands,and then get back in long once the daily uptrend is signalled.All this taking in view that this weekly uptrend holds.

Saint

Thank you Saint sir for the post at the right time.
Now I have a doubt.
Say,
We are in Monthly, Weekly & Daily Uptrend.
Then we went to Daily Downtrend and getting some pivot lows cracked in Daily charts.
After some days, we got a Weekly Pivot low cracked.
"Now we are in weekly down trend. But no daily pivots after the weekly pivot low breaks."
1. Will we go short there on the Weekly Pivot low Crack or here we only trade uptrends till monthly is in uptrend?

Thank you,
TFL.

ABAN:Now in 2/3rds,will enter last third on a breakout to new highs……..

Saint

Sir, I'm holding long. In weekly, I planned to hold till the reversal from this intermediate up-trend. So now looking at a weekly pivot low to book profits.
Currently I placed the stops at the same point you are seeing…1133. But the pivot low is not so convincing in the weekly but in daily its a good place to put stops. My question is…as far as I like to keep it till the intermediate up-trend breaks is there a need to place the stops at the red live shown in the image? or the non-convincing pivot formed in weekly 1133 is ok for stops? I raised this question because the pivot low is not a good one for me in weekly charts.

Put some light over it when you have some spare time.

Hi TFL,

Just an update on Jindal Steel and Power………..newer highs on the daily charts.Latest pivot lows is 1331.Weekly Pivot stands at 1132.

Your call now……My style of Trading:When this Daily Pivot breaks ,I am out……..And then I track the Daily Downtrend,sit on hands,and then get back in long once the daily uptrend is signalled.All this taking in view that this weekly uptrend holds.

Saint

To keep track:
ABAN,ABB->Triggerred longs,both in a third of usual size.

The rest is still on watchlist.

Saint

uthuman

Regards
Satya

ABG SHIPYARD:Looking to break out of weekly pivots and go to new highs,but daily has run up quite a bit…….Looking to capitalise on a breakout if there is one with small stops at mini pivots……

Saint

Saint

regards

neeraj

Great charts and many new things

Bee

Not to be forgotten that although we are in an intermed uptrend in many stocks,we are still within a larger Primary Downtrend so far……When things turn around,they can turn down fast.So,play it careful………..

Saint

ROLTA:Just triggerring off an intermed uptrend today……..would be looking to get in if it gives us a few sideways bars or a mini pullback on the daily charts.

Saint

ABAN OFFSHORE:The Daily Chart gives us an opportunity to get in long here with pivots nearby……No Entry if any monster gap up.Or else,as usual,over today's bar with stops at nearby pivots,adds over the pivot highs.

Saint

RELIANCE CAPITAL:In an Intermed Uptrend,first entry with a third or half would have been at the 450-ish area……..Now we wait for a Pullback on the Daily Charts…..

Saint

POWER GRID:Over 106 and visually confirmed over 109 is Primary Trend Reversal Territory……can it get there with one clean breakout?A wait and watch for now…..Entry over 102.5 on a breakout on daily charts.

Saint

ABB:About to trigger a weekly reversal,probably tomorrow……The latest breakdown has failed in the weekly charts,and pivot highs are about to trigger.Strategy would be to do your Money Mgmt Math and then enter long with half or a third of the calculated size and to add after a daily pullback in place.

Saint

Personally I missed the Intermed trend bus this time….couldnt latch on to anything. I guess was too busy with the 60min and intraday trades. Maybe was also waiting for the primary trend to turn bullish.

But will watch this space with keen interest. Some great insights from you and Saint Sir here.

Thanks,

Puneet

:( …Keep posting bee, great observations!

Regards,
MJ-

Just give me 33mins more.

Saint

Ballarpur surged out of its resistance today and closed above it.
LT also jumped out of its Jan PH.
Wipro seems to be coming out of its minor pullback - maybe right time to enter?

Bee

PS: Seems like I am the only incessant chatterbox here. Where are the stalwarts, where are the ideas, all too busy :-(.
Come on friends put up something, some ideas, open new threads.

Regards
Satya

bijo