Sunday, January 17, 2010

Will Reliance lead the next leg of the up move?

PPTrader says: "RIL is breaking out of an invs. H&S, if we join the tops of Jan 08, May 08 & May 09.Kindly comment."

My Notes: I have been tracking a similar pattern developing in Reliance. Since the swing points are different than what has been written by PPTrader, I am giving the chart below. Remember, this is a pattern under development, not confirmed.




15 comments:

Ramaiya said...

Sir,

I share a similar view but with a different view point, kindly view the chart that I have posted on my blog and let me know your comments.
http://vipulramaiya.blogspot.com/2010/01/reliance-industries-classic.html
Regards
Vipul Ramaiya

santhosh said...

Hi sir,

I liked the story of "A group of Doctors deided to invest in buying a Stallion." I am fresher completed my btech and i want to become a professional trader. Sir can you please suggest where to start my career as a trader.

PPTrader said...

Sir,
The rangebound movement in MMTC is the same as it was in STC. Can we expect an STC like move in MMTC?

Regards

Nirav said...

Dear Sir,

Is Trading is a respectable profession?

Gaurav said...

Hello Sir,

Firstly I would like to thank you for being the one inspiration in my life to achieve my goals.I am indebted to you.I am sure I will pay back one day because you have made me knowledgeable enough to pay for that.

I believe you don't follow Elliot wave theory that's why I request you to read this.

I need your advice.Last year I made 5 predictions based on Elliot wave theory .Out of that 4 panned out according to that ( (1.Dollar will not cross 52 in its life again when it touched 52 and came back to 50) (2.Dollar to be at around 35 in 3 years predicted at 50 )(3 Gold has very high probability to double in 3 years,predicted at 940$)(4 Sold everything at Sensex-17300, 4 months back, as these levels (+- 4-5%) are pivotal points for market moves for next 3-4 years.)


Can I use this as strong enough reasons to leave my current job and follow my passion .

men said...

Mr. Sudarshan, how does one differentiate between distribution and consolidation especially when stocks are at 52 weeks high. Any particular points that one should look out for?

men said...

On 20th Jan at 1006 hrs nifty bees is at 527, spot at 5252 minijan at 5241 and minimarch at 5252, then does it make sense in buying bees and shorting mimimarch in the equivalent qty? Any opportunity from the above data?

men said...

Mr. Sudarshan, in the previous response, I have made a calculation mistake on the bees, kindly ignore, SORRY FOR THE ERROR.

men said...

On the 18th did we form a head and shoulder pattern? 19th Jan also is showing some interesting pattern formation, could anyone clarify.

sam said...

respected sir

i want to about automated trading software and sources where to approach them

samtechadvi@gmail.com

sunita said...

Hello Sir,

Market is quite and u r writing less,
that is understandable but dot you think we can talk about short straddle and strangle in such times when expire is nearby or u dont think it as a business sence to discuss such strategy.

Regards
Gourav

Nirav said...

Dear Sir,

As a professional trader can you tell me which rules do you follow for a trading? or Can you tell us which rules one shoud follow for trading to succeed in long run?

Manish said...

I am predominantly a nifty swing trader. The nifty has been rangebound since last 1 month. In such sideways/rangebound market how does one trade nifty. Day trading with pivot points & selling out of the money options are the 2 options which i have thought of. Wanted your valuable suggestions on this.

saket said...

sir read a post yesterday would love to hear your comments on the thought.
"Fade what you see"-Brett Steenbarger
Here the link
http://traderfeed.blogspot.com/2010/01/fade-what-you-see.html

Gaurav said...

Dear Sir

I was looking at the Nifty chart and saw the following

a) Bearish engulfing two days prior
b) followed by a Doji
c) and now todays confirmation.

I think market may now have a support at 5060 and then may also test 4944.

Do you think this analysis is correct?

Regards
Gaurav