This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

September 16, 2011

STOCK CHARTS - DOES IT INDICATE MORE UPSIDES???

All the Charts Posted below show candlestick reversal patterns. For further reference Candle stick pattern Dictionary.



SBIN DAY CHART SEPT15

ICICI Bank Day Chart

Reliance Day Chart
Infosys Day Chart sept 15



Nifty Day Chart

Bank Nifty Day chart






VIX chart

Axis bank Day Chart
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2 comments:

Ilango said...

Hi..Satheesh,

The current evidence is that a higher low seems to be forming, provided "5169" is cleared to make a higher high. If it is a zigzag correction and not a reversal, it will be accompanied by some negative divergence and more importantly prices will signal with a close below DHEma first and so on.

If we take 5944-5329 as 1st
and 5329-5740 as irregular 2nd(b-being 5196)
and 3rd already completed at 4720,
then this 4th has a maximum upto 5300 & not breach 5329.

In the meantime, look at the form of this upmove from 4911 and when a 5 is done, go aggressively selling.

Daily lead indicator has turned up...Hour midway..week in uptrend & getting closer to 80 mark..

Two weeks ago we spotted "Inverted Hammer" in RIL. This week we suggested for "Buying stocks" after 2 days of ST bottom formation. Though I expected a vth-new low to be made, it happened with stocks but not with index.

September 16, 2011 at 7:22 AM
satheesh said...

Thanks a Lot sir. I have taken all you levels into my head. Would act accordingly

September 16, 2011 at 8:39 AM

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