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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Is the Market forming a “Head & Shoulder” Pattern?

Is the Market forming a “Head & Shoulder” Pattern?

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Is the Market forming a “Head & Shoulder” Pattern .?

Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Vote_lcap25%Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Vote_rcap 25% [ 7 ]
Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Vote_lcap75%Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Vote_rcap 75% [ 21 ]
Total Votes : 28

Poll closed

Go down  Message [Page 2 of 3]

hirankb


Senior Equity Analytic
Senior Equity Analytic
why ??? pls.

Prince


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
When COMB & SAMP in "red-zone" market sentiment is negative. Which means in a selling trend.

rishanpossitive


Manager - Equity Analytics
Manager - Equity Analytics
@Prince wrote:When COMB & SAMP in "red-zone" market sentiment is negative. Which means in a selling trend.
Or when market red COMB,SAMP are in red because of attempts to collect lower.

Slstock


Director - Equity Analytics
Director - Equity Analytics
Maybe a temporary observation these days. Will not always be true right?




@Prince wrote:When COMB & SAMP in "red-zone" market sentiment is negative. Which means in a selling trend.

Backstage


Moderator
Moderator
This thread is getting better and better ! Thanks Prince

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Yesterday market was up by + 50 points but SAMP & COMB was on a negative note. We all know the close of the market.
We'll test this in tomorrows market.

P/S

Right now the market is in Green + 3.18

Will it be........???????? Or will it not be.....???????

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Head is visible now. Technically its 6200 point is the next resistance going to be.

Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Chart411

rishanpossitive


Manager - Equity Analytics
Manager - Equity Analytics
green tomorrow.

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
We'll apply SAMP & COMB theory tomorrow and see.

Theory was OK for today isnt it.??

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Prince wrote:Head is visible now. Technically its 6200 point is the next resistance going to be.

Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Chart411

Ayoo Prince I dont think we're in for another H&S in the verge of a climb.. This is profit taking.. 6500 is a good barrier to break. Thus many ppl are in profits now so before they think whether market needs to go up, they sell at profits.

Panics may follow if it further goes down.. Laughing

Now JKH was too hot few days back and its getting corrected.. Likewise, if CTC and LLUB started a correction, ASI may further go down. Even COMB can take the index down few points with selling going on..

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yes its profit taking. which should be the correct thing to do by a smart investor. As you said some shares are on a correction and few to be get corrected. Tell me..... whats the meaning of word "correction" ...?? Why need a correction .....?? The answer is something was "Wrong" with that entity which need a "Correction" ... isn't it..??
JKH is over valued and was under "pumping and dumping" by market players. Do you believe JKH worth 300/- a piece by any means..? In that case CTC or LLUB. Then what should be the price of COMB ..? 400/- or 500/- ???

Better consider following facts when trying to understand the market direction.
1) June, July, Aug are dull months for the CSE in known history.
2) Although the 6500 mark is broken its not natural scenario but artificially done by few Brokers and so called Market-Players.
3) Market is not healthy. Poor turnovers indicates poor sustainability.
4) Market pattern indicates a profit taking. ( Green in the morning and Red in the evening)
5) Few heavy weight stocks JKH , LLUB, CTC in a risk of "correction" where anytime a panic selling can be triggered. If happens margin accounts will get into a chain reaction of forced selling.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
To what ASI level do you think market will go?


@Prince wrote:
Yes its profit taking. which should be the correct thing to do by a smart investor. As you said some shares are on a correction and few to be get corrected. Tell me..... whats the meaning of word "correction" ...?? Why need a correction .....?? The answer is something was "Wrong" with that entity which need a "Correction" ... isn't it..??
JKH is over valued and was under "pumping and dumping" by market players. Do you believe JKH worth 300/- a piece by any means..? In that case CTC or LLUB. Then what should be the price of COMB ..? 400/- or 500/- ???

Better consider following facts when trying to understand the market direction.
1) June, July, Aug are dull months for the CSE in known history.
2) Although the 6500 mark is broken its not natural scenario but artificially done by few Brokers and so called Market-Players.
3) Market is not healthy. Poor turnovers indicates poor sustainability.
4) Market pattern indicates a profit taking. ( Green in the morning and Red in the evening)
5) Few heavy weight stocks JKH , LLUB, CTC in a risk of "correction" where anytime a panic selling can be triggered. If happens margin accounts will get into a chain reaction of forced selling.

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ slstock

Market is over heated. RSI level indicates "overbought" situation. When considering the last two occasions where market got corrected minimum 300 ASI points were brought down. So that this time also we can think of 300-400 range dip in the ASI index.

So the answer is 6000 - 6100 range

Bond


Manager - Equity Analytics
Manager - Equity Analytics
@Prince wrote:@ slstock

Market is over heated. RSI level indicates "overbought" situation. When considering the last two occasions where market got corrected minimum 300 ASI points were brought down. So that this time also we can think of 300-400 range dip in the ASI index.

So the answer is 6000 - 6100 range

Stick to yoga Razz

Most shares are undervalued

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Exactly correct Bond. That is one of the points me to say Market is not Healthy.

There are more than 20 shares which are undervalued but have no investor attraction. Only a few selected shares are pumped up just to maintain the market in GREEN area. I observed some odd lots were traded last few days in an attempt to move the indices Upwards. I know this situation perfectly as I have spent lot of time seated next to my Broker Buddies. When the BBs wanted to push the market with some extra points they just buy odd lots or even some times 100 shares of a particular Share to one of their innocent client's account. I'm not blaming anybody but that is part of the Market behavior or existence I would say. The real Question is do we really consider all this when we in the buying mood ? Once bought we are in such a optimistic mood where we never believe the nature of the market which is UPs & DOWNs both can happen. Actually both should be happen time to time otherwise there wont be an existence or survival for anybody.

Backstage

Backstage
Moderator
Moderator
Yes Prince I totally agree with you, Yoga is very good to deal with ups and downs.

rishanpossitive


Manager - Equity Analytics
Manager - Equity Analytics
Price hows your Shoulder now.? Razz

Backstage

Backstage
Moderator
Moderator
I am more worried about the head. silent

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
With all these macro conditions, Foreign inflows, and good results what i feel is the Right shoulder you show will be the left shoulder and mkt is set to give us a new high in mid term.

Any way i would like if Stumpy can elaborate the technical side for us. PLz

K.Haputantri

K.Haputantri
Co-Admin
[quote="traderathome"]
@Prince wrote:
@traderathome wrote:
@Prince wrote:Market is trying hard to break the 6,500 mark. Understanding the firm resistance to break the 6,500 magical point, my forecast is that Market is about to form a Head & Shoulder pattern in coming 3 months and gain the momentum in AUG- 2013 to reach new heights.

if you can draw and show us.....the HnS


Sure...! My prediction is this .... we may see the next high in next September (2013)

Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Chart310
i do not get it right with your forecast.....in trading based on charts we do not want to assume the market may take such and such patterns in the future..etc etc. the underline principle is Market is always right. so our assumptions,forecasts may go for six.

your assumptions that in next 3 months such and such pattern would form carry no weight.....because its way off.....and do not base your trades on the assumption as it can land you with losses if youget it wrong.so i would rather wait for the pattern to complete.....

if you wanna trade on pattern look at SEYBX HnS already formed and CMP in line with the neck line...i target 15rs thats Rs 50/share when actual MP was 35rs when i said its taking the shape of HS...and to trade with care. SEYBX hit 40ish and thrown back to 37 this is the time to BUY target Rs 50/- which is still valid.

TAH
I can't help but agree with your view, TAH. Looks like that some one has got the cristal ball to predict the future.

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
@Prince wrote:Exactly correct Bond. That is one of the points me to say Market is not Healthy.

There are more than 20 shares which are undervalued but have no investor attraction. Only a few selected shares are pumped up just to maintain the market in GREEN area. I observed some odd lots were traded last few days in an attempt to move the indices Upwards. I know this situation perfectly as I have spent lot of time seated next to my Broker Buddies. When the BBs wanted to push the market with some extra points they just buy odd lots or even some times 100 shares of a particular Share to one of their innocent client's account. I'm not blaming anybody but that is part of the Market behavior or existence I would say. The real Question is do we really consider all this when we in the buying mood ? Once bought we are in such a optimistic mood where we never believe the nature of the market which is UPs & DOWNs both can happen. Actually both should be happen time to time otherwise there wont be an existence or survival for anybody.

The main issue is many investors are running behind the crap shares.. manipulating shares for short gains.. not much worried about the fundamental shares.. not thinking about long time holding ..there for not much run in many good stocks which is undervalue also.

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics


Market is cooling off as expected. If we see a resistance at 6250 - 6255 levels (that's my prediction) its definitely a nose down dive to 5800-5900 levels.
 
Nowadays technical chart reading has become a crazy stuff  since manipulation is unpredictable. But an experienced Investor can easily understand the whereabouts if in a calm mind.Check out the area marked "M" in below chart. Its nothing but sheer manipulation by so called Market-Players and BB s . 






Is the Market forming a  “Head & Shoulder” Pattern?  - Page 2 Chart510

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Market is Greeeeen. Wonderful.  But the real quest is that whether the market can go beyond 6250-6255  point in coming three four days or not.

malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Prince wrote:Market is Greeeeen. Wonderful.  But the real quest is that whether the market can go beyond 6250-6255  point in coming three four days or not.

its like a lord kataragama..

six heads and twelve shoulders..

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
The stage is ready for the market to be in the Green zone for few days. Market RSI ready for a upward movement and the news of reserve rate cut-down will kick-off the market to the GREEN ......!
Now then, still there are two concerns which we see the answer in coming few days.
1. Can the Market pass the 6250-6255 point this time.
2. How many days the Market can be in the Green zone.

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