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  1. abhi Says:
    August 15th, 2013
    Posted at: 9:15 pm

    sir i have been practicing elliot wave lately could u plz post to me the wave pattern for tatasteel....i have some confusions regarding that ..thank u

    Kartik, replies: Hi abhi, I personally dont chart elliot wave, its mainly the support and resistance levels, its likely to continue its downtrend ahead though, it saw some short covering lately

  2. Kris Says:
    August 15th, 2013
    Posted at: 9:41 pm

    Dear CB / Kartik,

    Good Evening! For intraday trading, please advise the following:

    1. Interval of candle sticks - 1d-5min; 5d-5min; etc...
    2. Is SMA (10) and SMA (25) followed are are there any shorter cycles
    3. Parameters for MACD (currently, default shows S,9,S,9,S,24,Close).

    Thanks,
    Kris

    Kartik, replies: Hi Kris, it normally varies with the Markets, 15/5 mintue chart often works well. SMA (10) can be followed for Intraday and SMA(25) for Swing trading, keep the default values for MACD, they work well

  3. Kartik Says:
    August 15th, 2013
    Posted at: 9:46 pm

    Hi abhi, I personally dont chart elliot wave, its mainly the support and resistance levels, its likely to continue its downtrend ahead though, it saw some short covering lately

    Hi Kris, it normally varies with the Markets, 15/5 mintue chart often works well. SMA (10) can be followed for Intraday and SMA(25) for Swing trading, keep the default values for MACD, they work well


  4. Kris Says:
    August 15th, 2013
    Posted at: 9:53 pm

    Thanks Kartik.

    1. By 15/5 min what exactly do you mean? Either 15 or 5 mins candle stick is it?
    2. And when you say depends on the market, do you mean, if it is a flat / slow market, then increase the candlestick interval and if it is a clear green or red day, reduce the interval?
    3. I want to follow the 2 sma stuff. To explain, in eod charts, I look at the red line (sma 10) cutting the blue line (sma 25) from above or below and understand the progress. So similarly I want to know on intraday what should the parameters. If I use the sma 10 and sma 25, it starts pretty late. So should I be waiting for so long? Even with the default MACD values, the macd graph starts very late.

    Please advise.

    Thanks,
    Kris

    Kartik, replies: Hi Kris, Yes, 5 and 15 minute CandleSticks. The greater the volatilty the greater then candle timeframe. For EOD Charts, you can follow 30 and 50 DMA, since you have a longer period of data avaliable there.. If possible use the Intraday for 4-5 days, so that the MACD can use the previous day's data to plot the chart for the current day

  5. Bharat Says:
    August 15th, 2013
    Posted at: 10:07 pm

    Can i buy GSK Cons and can i short ranbaxy tomorrow

    Kartik, replies: Hi Bharat, GlaxoSmithkline Consumer can be entered for a target of 4230, no, dont go short in ranbaxy for Intraday

  6. Kris Says:
    August 15th, 2013
    Posted at: 10:10 pm

    Thanks Kartik. So for intraday, you still suggest I follow 10 and 25 smas - which means I should wait for the 25th candle to make decisions. The only problem is that I can't take decisions till around 11.30am using 5min candlesticks. Is that the way day traders normally follow?

    For eod charts, 10 and 25 works well for me.

    Lately, I have been analysing the 5day - 5min candlesticks during intraday online alongwith the sma 10 and sma 25 and macd default values. I appears to be working decently well. Is that okay to continue with the same? It does not work always though.

    Please advise.

    Thanks,
    Kris

    Kartik, replies: Hi Kris, you can view the Intraday charts for 2 days, in that manner, you'll have the start hours calucated with previous data's data along with current days, yes, it shall work most of times unless the market is news driven

  7. Aman Says:
    August 15th, 2013
    Posted at: 10:15 pm

    Hi Kartik..
    what abt Sintex Tomorrow..

    Kartik, replies: Hi Aman, it can see 24.5

  8. Kris Says:
    August 15th, 2013
    Posted at: 10:50 pm

    Thanks Kartik. Good night!!

    Kris

    CB, replies: Hi Kris, most welcome. Good night

  9. abcd Says:
    August 15th, 2013
    Posted at: 11:04 pm

    G.E. KARTIK... tgt for icicbnk tmrw?

    CB, replies: Hi abcd, seems may open 12-15 points lower. global markets are going quite weak

  10. sanjay Says:
    August 16th, 2013
    Posted at: 12:16 am

    hello
    sir
    dena bank trget tomorrow

    CB, replies: Hi sanjay, can test 50.50 if markets are good. as of now seems it may open flat

  11. Success Says:
    August 16th, 2013
    Posted at: 12:18 am

    Dow deep red

    Tomorrow any chance to get my short hindalco at 94 levels

    CB, replies: Hi Success, yes, likely to see selling pressure tomorrow. hold for now

  12. bhel Says:
    August 16th, 2013
    Posted at: 12:23 am

    BHEL CMP 118.55 TARGET WHAT ?

    CB, replies: Hi bhel, its a hold with sl at 115. has support here. if breaks 115 can fall further

  13. pooja1981 Says:
    August 16th, 2013
    Posted at: 1:38 am

    CB,
    can I short something tomorrow if nifty opens 40-50 points lower....

    can union bank see 112 in 1-2 days?? holding short @122

    CB, replies: Hi pooja1981, yes, hold union bank for now. looking for some short. shall update soon

  14. Rameshb Says:
    August 16th, 2013
    Posted at: 1:42 am

    hi CB, Nila infra has come down near my buy price, can i accumulate around 2.5 for 6 months. hope the stock is fundamentally okay.thanks

    CB, replies: Hi Rameshb, yes. can add few more here. is a good long term bet

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