possible candidates also ---
my 1st post in this thread and about this strategy also. i don't know my observations are fully correct or not?
if not then please tell me where i am wrong.
Burai123, How about posting along with the charts why you think its TS candidate along with the levels to be traded.
I am trying to incorporate the levels to my best ability.
BHEL : It made a previous 20 period Lowest Low at 222 on 17th Jan. On 30 th Jan BHEL breached this LL of 222 made 4 or more sessions earlier. On 30th our action would have been to go long above 222+ticks only after 22 was broken on the down side. Assuming that after breaking the previous 20 days low of 222, BHEL did not trigger a Buy. It closed at 221.75
Today 31st Jan 2013, Our action would be to go long above 222+ ticks, with SL below 220.60 (30th Jan low) less ticks !
I have no idea what should be done if 220.60 less ticks is breached before the long is triggered !
HDFC Bank : Please refer to my earlier post for this stock.
GAIL : It made a LL of 20 period at 346.75 on 24 Jan. This low was breached on 30th Jan , and a Long was not triggered. On 31st Jan we can go long above 346.75+ticks with 338.20 less ticks as SL (338.20 is 30th Jan Low)
SBI : SBI made a 20 period Lowest Low at 2423 on 17 Jan 2013. 30th Jan low is 2426.60 ! The stock must be on our radars for 31st Jan. We want the stock to 1st breach the 2423 level and then move above 2423+ticks, where we go long with the days low less ticks(made till then as SL).
Keeping my fingers crossed that my understanding is correct and my post does not lead to any confusion or wrong action.