Thanks tony. Please let me know ur views on rs software also
R S SOFTWARE (393)
On the Point and Figure, the stock had support at 400 which got broken and now the next support is at 350-330. On the up side the resistance is at 420.
On the candle sticks, the stock gets support at 374 and 358. The RSI and CCI are both trending in the lower direction and hence one can expect lower levels to enter the stock.
Tony
Tony , How does JVL agro look on charts?
Hi Sunil,
I have written a mail to you. Please check it.
Tony
sunil.surana7@gmail.com Link: mailto:sunil.surana7@gmail.com .
Nani,
The stock looks good for a buy on the Point and Figure charts. It made a double bottom at 15.60 where it took support and has now moved to the X column. The next resistance is at 20.60. It has support at 15.60 and then at 14.69-14.10.
On the candle sticks too, the stock is in positive territory trading above the 5 and 25 day EMA. It has resistance at 18.60 on the Bollinger Bands. Once the CCI gives a clear upward trend the stock should begin its journey upwards. However, the MACD and Fast Stochastic have already given a positive signal.
Tony
Hi Tony,
I have been going through this thread for some time and the way you have helped others in learning Technical Analysis is immensely commendable. I am new to this and have been referring to the book “The definitive guide to point and figure” by Jeremy du Plessis. Do you think that this a good book to refer to for point and figure charting?
I have a question, do you think that it would be enough if one follows only point and figure analysis or do you think that even other charting techniques are required to enhance the outcome. I am sorry if this question has been asked previously.
Thanks,
Subba
Hello Subba,
You do not have to worry if this is query has been asked for the first time or not. I am here to help and guide you in learning Point and Figure Charts as well as other Technical Analysis tools which i use.
The best book is by Tom Dorsey " Point and Figure Charting".
Other resources which I use are :
http://www.stockgoodies.com/lessons.html Link: http://www.stockgoodies.com/lessons.html
The above resources are sufficient to make you Independent. This is my independence day message to one and all. If you need more help I am always there to help and guide you in whatever way I can do.
Come lets learn and share our knowledge to make each one of us independent and resourceful.
Tony
I’ve found the this site useful - http://www.swing-trade-stocks.com
Technical concepts are explained in a simple, easy to read, non-technical style. Go to bottom of the home page and start from the Beginners section.
)- HG
Hi Tony,
Could you please tell me the if there will be down trend for MAYUR UNIQUOTER & SHILPA MEDICURE and if so then what could be the support level for these two stocks so that I can buy them again.
Regards
Kaushik
Hag,
I truly appreciate your gesture of sharing. Looking forward to more such sharing from those who can help in their own way.
Tony
[ http://www.swing-trade-stocks.com
)- HG
Tony. Thx for being a wonderful TA tutor. My 1 st post here. Is it feasible for u to look at Eicher motors and Page and suggest right levels for me to add. Thx a ton
Hello Kaushik,
Mayur Uniquoters had a support at 420 which it broke. The next support is at 380 and 350. However, 380 could act as a strong support zone. This is on the Point and Figure charts.
On the candle sticks, the stock has support at 400-405 levels which is the 50 day EMA. The CCI is still in the down trend. Some more correction is possible.
Shilpa Medicure has support at 468 again the 50 day EMA. The CCI is still trending lower. Wait for clarity and then buy if you wish.
On the Point and Figure charts, the stock has support at 450 and then at 420. Watch these levels closely.
Tony
Kalyan,
A very warm welcome to Valuepickr. Everything is feasible over here and its for free
Eicher Motors (10025)
This stock made a new high of 10600 and now is on a pull back. On the Point and Figure charts it is in the O column indicating more sellers than buyers. The next support is at 9000 and 8700 levels.
On the candle sticks, the CCI is still correcting with a downward bias. Expect some more corrections in the price. It has support at 9775, 9545 and 8700 levels.
Tony
Page Industries (7726)
The stock made a triple bottom at 7800 on the Point and Figure charts and gave a sell signal. The next support is at 7500-7400 and 6500. On the upside the stock has resistance at 7800 which will strong and then again at 8100 where it will make a triple top. After that it will once again make a double top at 8200.
On the candle sticks, the support is at 7720 and 7690. And then at 7250 which will be a strong support. On the upper end it has resistance at 7810 and 7890 and then at 8085.
The CCI is still falling and at -92 has just entered oversold levels. Some more correction is expected in the price.
Tony
Thx again Tony
Thanks Tony for extending your helping hand.
Hello Tony,
Hope you are well.Today The site,Chartink.com is not working & the site is not open.Do you know what is the problem with the site?
Thanks,
Subhajit
Hi Subhajit, Chartink was not working for some time but it is up and running now. May be the server would have been down for some time. Thanks, Subba
Hello Tony,
Hope you are well.Today The site,Chartink.com is not working & the site is not open.Do you know what is the problem with the site?
Thanks,
Subhajit
Hello Subba,
Thanks for your reply.yes now chartink is working properly.
Subhajit