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Threads for the begineers to ask doubts

Discussion in 'Technical Analysis' started by manjeetsingh250187, Jun 21, 2014.

  1. manjeetsingh250187

    manjeetsingh250187 New Member

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    Want to discuss the doubts while doing analysis of the charts, hope in this thread, we can ask clarification needed if any, and Exp. pals can clarify the same.

    Start with 2 stoks.

    1. Adani Port, seems working in W shape, is new W is in formation?
    2. Alstom stoks : charts looks good, can we enter at this level?

    One in general question, how to find resistance and support for the charts? in chart nexus, we can check it for two stocks? is there any other free tool available? Also, how we can check manually the same?
     
    manjeetsingh250187, Jun 21, 2014
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  2. chethankrc

    chethankrc Active Member

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    Hi Manjeeth,

    1. For Adani Ports there is no W shape formation in daily chart . Pls let me know in which time frame you are viewing chart. And Resistance(R1) is at 240.
    2. Alstom stoks is having nice bull run . Resistence(R1) is at 335.

    Friends Is anything wrong from my explanation pls correct ..
     
    chethankrc, Jun 21, 2014
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  3. shabbir

    shabbir Administrator Staff Member

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    Always.

    There is no W but higher top higher bottom. W means both the bottom are quite close to each other but thats not the case in Adani port.

    Yes but then without SL and target this does not mean anything much. So always try to share whats your SL and target as that helps understand if you are doing the analysis rightly or not.

    Don't use any tool to tell you the support and resistance and always try to use the charts manually to fund the support and resistance. Price action strategy just needs a visual glimpse to let you know the support or resistance and then use one of the pattern to just add to your levels.

    Spot on :D
     
    shabbir, Jun 22, 2014
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  4. hirenrachh

    hirenrachh Member

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    Can enter adani.port at cmp 270.25...it has crossed the previous high with huge volume...is SL 230 or 220.... considered quite low....?

    Regards
    Hiren
     
    hirenrachh, Jul 2, 2014
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  5. shabbir

    shabbir Administrator Staff Member

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    Spot on.
     
    shabbir, Jul 2, 2014
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  6. hirenrachh

    hirenrachh Member

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    Thanks Shabbir...

    One thing I would like to discuss...is normally with higher low higher bottom or w pattern sl is quite low...roi lots of time is quite not so good....what is yr opinion?

    Regards
    Hiren
     
    hirenrachh, Jul 2, 2014
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  7. shabbir

    shabbir Administrator Staff Member

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    Avoid if you are not comfortable with the ROI. I avoid them.
     
    shabbir, Jul 3, 2014
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  8. hirenrachh

    hirenrachh Member

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    Thanx
     
    hirenrachh, Jul 7, 2014
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