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Asian paint : is this a channel breakdowm.

Discussion in 'Technical Analysis' started by AjithaPriyasi, Nov 21, 2013.

  1. AjithaPriyasi

    AjithaPriyasi Member

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    Hi,

    Please check if this confirms a channel breakdown. Is it a candidate to short
    on confirmation.


    [​IMG]

    Thanks,
    Ajitha
     
    AjithaPriyasi, Nov 21, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Yes but then I would still assume it is a consolidation and will not short such a bullish stock
     
    shabbir, Nov 22, 2013
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  3. AjithaPriyasi

    AjithaPriyasi Member

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    Retesting the neck line of H & S pattern.
     
    AjithaPriyasi, Nov 25, 2013
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  4. AjithaPriyasi

    AjithaPriyasi Member

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    Updated recent chart

    [​IMG]
     
    AjithaPriyasi, Nov 26, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    I think 500 will be held and if not then it could be potential candidate for shorting in leg down of spikes
     
    shabbir, Nov 26, 2013
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  6. AjithaPriyasi

    AjithaPriyasi Member

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    Thanks Shabbir for the update
     
    AjithaPriyasi, Nov 26, 2013
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  7. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Nov 27, 2013
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  8. verenmitter2001

    verenmitter2001 Member

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    Hi Shabbir
    How are you doing?

    One question I could never got to understand how is spike is seen in practical environment. Theoritically i understand that one should short on spike/volumes but how is this spike identified in real environment. Is it to seen in daily chart or in 30/15/5 mins charts. Its should be an positional call for how many sessions.

    Kindly elaborate this topic. Though you have done in past but the practical implementation need to be be deliberated.

    Regards
    veren
     
    verenmitter2001, Nov 27, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Once you see a big stick up and then followed by some positive candle but then that candle is not higher than previous one is spike and then in the leg down should be shorting.

    So in the image attached by AjithaPriyasi, if there is a spike in Asian paints and if the spike is below 540 then in the leg down is the right time to short. The exact pattern is discussed in the eBook
     
    shabbir, Nov 27, 2013
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  10. verenmitter2001

    verenmitter2001 Member

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    Hi
    Asian paint made a hammer today.
    Rt time to take a long position..... Sl of 500
    Your views???

    Regards
    Veren
     
    verenmitter2001, Nov 27, 2013
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  11. AjithaPriyasi

    AjithaPriyasi Member

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    Hi,

    I am not an expert . Are the Vol supporting Hammer formation ?

    Regards,
    Ajitha
     
    AjithaPriyasi, Nov 27, 2013
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  12. shabbir

    shabbir Administrator Staff Member

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    Would prefer to wait for couple more trading sessions to confirm it.
     
    shabbir, Nov 28, 2013
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