Many are asking whether a mechanical system can be made out of the "Tech. table" ?? - May be. I never tried it. I use the tech table as a reference point only...a confirmatory tool as I do with indicators and others. I have the time to study the market in its complexity and try to feel its pulse.
But for those who can not afford so much time, there are "Swing system" based on "n" period of high/ low breach play (Eg: 5 day swing, 10 day swing, 20 day swimg)or a Follow the macd or a tech.table based "Long on a close above 5-ema (Some swear by 3/7 ema) and so on.
What ever you choose, back test for a period of 2 years spending some time on that research with long trades initiated, whipsawed, etc and the returns and combine the same with some "Profit taking methods". Only when you are convinced, should you put them to trade/ invest.
Why do I have both "Buy" & "Sell" suggestions - because Nifty is at another inflection point. There is a clear possibility of moving higher post this correction. Monthly charts of many stocks too give such an indication.
A correction is on and it may resume the downtrend for one more new low.
In sum, you sell first and then buy - Ohhhhh- that is trading..you got it.
33 comments:
good morning sir and friends
Today's close : 5150 +/- 20
Hai everyone
Nifty seems to be out of the daily channel. will it sustain above it ?
http://niftychartsandpatterns.blogspot.com/2010/06/nifty-technical-analysis-for-31-5-2010.html
Thank you
Good Morning all!
Good Morning All
“A mind troubled by doubt cannot focus on the course to victory.”
- Arthur Golden
ukr good quote
good morning all,
san , your chart is a nice update for hour channel,
i keep watching sir's hour channel from past 3 days for the upper break and sustenance.
Good Morning :D
GM Ilango and Friends!
@Mok
Thank you mok.
gm all,
Sell signaled by the gap down?
GM Sir and Friends.
Gm Illango sir,
Orb Gives sell but it is very near to suport of
5015 NF is this is good to short here?
Good morning friends. The levels given here are related to spot or NF?
@nickbuk
Ilango sir mentioned clearly as NF. Please check it once.
Good morning sir and friends!!
@nickbuk
spot, where it says NF its for NF.
GM to you all,
If one has to trade few lots of Nifty every day, which is the most economical online broker if the trade is done for every 15 to 20 points.
Thanks
dear rm
yesterday u discussed abt subscribing comments so that they reach directly to inbox
i want to know how to do it
plz tell
San - Thank you for the nice and clear chart. Tried to post my Thanks in your blog - prevented due to my net connectivity issues.
Your charts are becoming more and more illiterate user friendly. Thank you - and appreciations for such a dogged effort in gathering and sharing knowledge.
thanks Yoda :)
Wallace I prefer Ventura,
U can also go for Rkglobal
@ Wallace
VENTURA1 is the good online brokerage house where u get
back your total brokerage according to selected plan
Dont go for R K Global overall it is costliest
@wallace
ventura is ok. They give back ur plan amnt once u trade that much. But their charts are bad.
I heard RK global is cheap.
gd
@wallace
For FNO RK Gloabal is pretty cheap
@deemis
Just below the comment box, you'll find a link "subscribe by email". Click on this link and all the subsequent comments on this post will be forwarded to your email address.
regards.
NEW POST DONE
Small triangle of 28 points in Tata Steel hourly chart.
488-502 are the levels to watch.
a request to PARESH
thanks paresh
u hav been guiding us by ur EXPECTED nifty close EOD , every morning
can i please request u to also provide us with the expected close by u yesterday and what was the actual close
thanks
regards
please dont take it other wise
Dear Wallace & all!
My cousin is associated with a highly reputed big brokerage firm of delhi, they are most ecnomical & provides fast trading system Diet on most competetive rates to high turnover clients. So if u r inetrested then mail me at FUTURESFINCAP@YAHOO.CO.IN & i will send details to u.
rgrds,
KUMAR
GM sir and Family.
Hi Ilango,
I am new to this blog.
I am not able to interpret the TT and make use of it
Can someone guide me on this please
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