Practice Technical Analysis for Beginners

[veluri1967]

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Hi friends,
Hope you are now clear of theoretical aspects of Technical Analysis and Indicators.
If not please visit my another thread "Technical Analysis for Beginners" in main thread "Technical Analysis".
Very soon I will be putting all those aspects into practice with examples of charts in this thread.
Before that I expect you to be thorough with the thread "Technical Analysis for Beginners".
Will be back soon with dazzling chart analysis with examples and study.

veluri1967:thumb::rofl:

 

[veluri1967]

:clapping::thumb:

As promised, here is the first chart.

Its intraday chart of Axis Bank with indicators Bollinger Bands and RSI.

Spotting of signals is in the chart.

I welcome any corrections and suggestions.:clapping::thumb:

 

[vishalalluri]

As promised, here is the first chart.

Its intraday chart of Axis Bank with indicators Bollinger Bands and RSI.

Spotting of signals is in the chart.

I welcome any corrections and suggestions.:clapping::thumb:

hi velluri

good inititative but i guess its not very sensible to take such a decision on a new low signal when u r actually doing real time trading . buying just on the basis os rsi making a new low might give a false signal what u shud also add adx to see the direction of movement
ur chart would help more for evryune to understand the role of RSI how it works


happy charting
just my view

 

[san77s]

Sir,
Thanks for your initiative to show your method through a chart. I have a doubt in this chart here i mark the doubt in the chart. Please check and give your valuable suggestion

Thanks & Regards,
S.Saravanan

 

[veluri1967]

Saravanan,

Good observation.
Let me name 1st buy signal B1 and 1st sell signal S1 and so on.The second signal buy is generated when RSI is retraced to lower levels ie B2 after making a higher top at approximately 13:40 hrs.
But is there a higher top between B1 and your circled area? Obviously no. (The higher top gives ample scope for reversal when the RSI falls below 30). Hence your circle is pposibly not qualified for a buy. Ofcourse, you can initiate trade if any other indicator confirms the reversal.

As suggested by Vishalalluri, you might take confirmation from ADX indicator.

We earn when we learn. We learn when we observe. We observe when we have fire within. Let the fire be always ON.

Best of luck.
Yours
veluri1967:clapping::thumb:

 

[san77s]

Wow,
In a nice way you explained it.. Thanks a lot sir... Hope each n every chart will teach more knowledge.
Great going...

Thanks & Regards,
S.Saravanan

 

[sunrad]

Dear Veluri,

Thanks for posting the chart.
Which SW charting do you use and which SW do you recommend for us in order to achieve this?

Thanks

 

[veluri1967]

Dear Veluri,

Thanks for posting the chart.
Which SW charting do you use and which SW do you recommend for us in order to achieve this?

Thanks

I hope you are trading online. Any online software supports, the charts I mentioned here. ICICI online, Religare, PowerIndiaBulls, Sharekhan etc.
You can try any of them. Since my focus is mainly on intraday trading I suggest you the above.:!:!

 

[sunrad]

Dear Veluri,

Thanks for quick and prompt reply.
Yes I am doing online and trying to learning to do intraday. Using Share Khan but I did not know that this feature exists !!!!! I thought that I have to subscribe something like invetsbulls or icharts etc .. to get this.. I will try to find in Sharekhan to get this.

Cheers

 

[veluri1967]

Hi friends,
here is another chart depicting MACD and EMA crossovers.
study the chart with particular attention at the vertical lines drawn.
Happy learning.
veluri1967