Fwd: Re: is it possible to predict stocks movement using chart analysis??????

>BPCL :

>

>Today it has broken strong support of 340 also.Will it test the Double Bottom of 305 or so?
>What are your expert view?Can we short tomorrow?

 

With SL341 one might think of going short (But it seems too late)

 

Well now there is next level of learning "Which I am also trying to learn"

Everyone have a mind set problem: (I am working on it)

So the lesson goes this way (Not very well understood by me hence just a thought kind of post)

Its obvious that if our assumption is proven wrong then the stock will go other way.

 

That is if your stop loss is hit reverse your position from long go short. In BPCL that might have

worked well.

 

The issue here with me is if I have a mind set that market is bullish I do not take short position.

Many people would have this problem. If I already have a history of making money on a stock

which had a good bull run and I had a long position yesterday how come suddenly I liquidate

my long position and take short position.

 

But I have heard that there are people using stop-loss orders to take positions. (I do that in only

breakout condition and that to in the direction which I predict not the other way).

 

ANY HARDCORE TRADER ON THIS GROUP WOULD BE ABLE TO SHARE.

Chart of Colgate post

Missing chart tried via email

 

Clogate near support but seems week . . !

Colgate is back on the trend line.

Though I would not recommend a long postion
but if there is any long position one should keep
stop loss of Rs. 374

A very good newsletter is available at this address

http://www.investtech.com/temp/messageHtml_emailNews_in_ENG.htm

these are software generated picks and one need to use their personal
stretagy on them.

Copper chart yen from base metal

Ranbaxy below 340 loosing support

This is real crack in the stock's long term chart.

 

For long time we have seen this stock bouncing back from

Rs 340 now its below 340 and that's the bad news.

 

Friends;

After long and fast fall there is very good indication of
reversal on the Stock market.

Refer attached indicator of the advance decline and the Nifty.
There is good indication that the market will find good
support at the current level.



Such breath was missing on last Friday rally.

Double bottom reversal patter is also seen on the 5 days graph.
I have also marked the expected resistance levels during up move
from the current level

Yagnesh