Wednesday, April 11, 2012

HDFC Bank, CAIRN : High Conviction Long trade on the STF ...

All in the charts

HDFC --> Cup n Handle , will give break-out above saucer line @ 535...

Tgts:
T1  (handle depth): 535 + 20 = 555
T2: (Cup Depth) : 535+ 45 = 580
T3: Bullish Cup & Handles can do 2x Cup Depth = 625 !!

SLs: 515 / 518

Keep an eye on VOLS & break-out zone (saucer line)

2. CAIRN : Asymmetrical Triangle Break-out possible > 356

This is ur DO IT URSELF HOME WORK ;-D

Someone, tell me possible Tgts  & SL & any obsvs !!! :-)

cheers




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5 comments:

  1. SurajApril 12, 2012 at 3:46 AM

    Dear Shriramji,

    Hi,

    Today i squared my long position (taken in the morning) in nifty @ 5264.05 according to 34EMA, 30minutes. Did i do the right thing or there is some error on my part in checking/executing trade by candles.

    And Can you please simplify on how to avoid whipsaws in JNSAR by using slower SMA (how can i check SMA)for a newbee.

    Thanks in anticipation.

    Regards
    Suraj

    ReplyDelete
  2. shriramApril 12, 2012 at 8:40 AM

    Dear Suraj,

    34EMA ,30 mins is for ENTRY
    21EMA, 5 mins is for EXIT

    Today @ 9:30Am price closed >34EMA,30mins @ 5267

    Exit was triggered when price closed for 2 , 5min periods << 21EMA, 5mins @ 5277.9 @ 1:00pm

    Actually u wud have made 11 Nifty pts!!

    Wot is the confusion pls ?

    ReplyDelete
  3. SurajApril 12, 2012 at 9:49 AM

    Dear Shriramji,

    When candle closed at 5264.05 at 11.15AM below 21,5min@5266.05, i squared my long position. Please tell where i made mistake as i should had squared at @ 5277.9.

    Many Thanks for taking pain for me.

    Regards
    Suraj

    P.S: Does it has something to do with default interval as for 21EMA,5min chart i have to refresh again and again to see live price and EMA at google.

    ReplyDelete
  4. shriramApril 12, 2012 at 9:59 AM

    Suraj ,

    2 pts to remember:

    1. Always refresh the google 5 mins chart every 5 mins :-)

    2. Price has to close < 21EMA 5mins , for 2 CONSECUTIVE 5min CANDLES..only then one shud exit LONGS

    (vice versa for trailing short trades)

    cheers :-)

    ReplyDelete
  5. SurajApril 12, 2012 at 10:55 AM

    Got it Sir.
    Many Thanks.

    Regards
    Suraj

    ReplyDelete

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