Applying Technical Analysis

posted by psvohra on Fri Nov 29, 2013 03:14 am


Mayur ji good morning ,thanks for the same

and for the benefit of all NPians i am posting a link which will make easy to understand and install in MT4 with ur permission

which many people use

Thanks and Regards 

posted by mayurs on Wed Dec 11, 2013 06:48 pm



Take a look at this site. Looks very interesting.

Kindly note that I have no intention in promoting this site, nor do I trade Forex. Thought that it will help a few of you...........


posted by mayurs on Wed Jan 15, 2014 06:29 pm


Cipla saw a nice "LADDER" formation on the 15 mins. chart today. With some rise in momentum today, we could possibly see more of these pattern if the momentum continues.

posted by mayurs on Wed Feb 12, 2014 06:28 pm


In the last week, Nifty hrly exhibited a positive divergence and we have been witnessing a rally


Now, it is the reverse. The Nifty hrly is exhibiting a negative divergence when compared to the same 3/10 oscillator, indicating that the rally which has started about 6 day's back is losing steam and the downside move can start.

Time for the Bulls to be careful and the Bears to start looking for short positions.

posted by mayurs on Fri Feb 28, 2014 06:28 am


The 3/10 oscillator on the Nifty hrly chart has been exhibiting a negative divergence indicating loss of momentum on the upper side. A drop below the lower ascending trendline on the nifty can be used as a trigger to look for short positions.

posted by mayurs on Sun Jun 08, 2014 07:05 am


Tata Global broke out of the sideways Triangle on the weekly chart ( see chart attached) is headed higher.

The breakout with strong volumes suggests that the stock has more legs and the bulls are active. The first hurdle to the stock is at 179.45-181.50 with is at the earlier major top. 

The daily + weekly chart + monthly indicators are in the buy mode and are supporting more upside.

Once the stock crosses 181.50, it will first head towards 191.45-197.80. The is the small target. Usually a breakout from a sideways triangle has more legs and could head towards the next important resistance zone of 216.30 - 226.30. This is where position traders and investors can look for profits.

The stop for the long positions is at 145. 

posted by mayurs on Fri Jun 13, 2014 05:13 am


Power Grid took a support at the 50% retracement of the earlier rise and the minor decline looks completed after a rise seen yesterday.

On the upper side, the stock has a hurdle at 137.75-138.35 and 140.25.

The stop for the long position for swing traders is at 131.50.

These are the hurldes to the stock before it can head higher towards the first target of 144.80-146.20 and 149.40-150.90 (see chart attached).

posted by mayurs on Sat Aug 02, 2014 10:32 am


Many stocks are correctiing and these corrections can be used to look for long positions at the support levels. Among the frontline stocks Larsen has been correcting sharply and is closer to the Fibonacci Support zone of 1,446 - 1,461.

Another support below this zone is at 1,341 - 1,364.

I would like to see if one of this support hold and we than go to the lower time frame (15 mins. chart) and look for longs. We could look for positions with a much closer stop.

Targets on the upside will be mailed later once we get the confirmation that one of the cluster has held.

posted by mayurs on Sat Aug 02, 2014 10:33 am


DLF is in an intermediate correction since 9th. June and has come closer to an important Fibonacci support Cluster of 184.70 - 190.25.

If this support holds, we go to the lower time frame (15 mins.) and look for buy signal. If this support does not hold than the next support zone is between 174.30 - 177.80.

Thus, traders must look for buy signs at these supports on a lower time frame for a target which is 225 and even higher. Currently I cannot give these targets, till we get the confirmation as to which support is holding. Once the stock confirms a uptrend, I will mail the possible resistance and the upside targets.

posted by mayurs on Fri Nov 07, 2014 05:47 am


Glenmark has exhibited a strong breakout on the daily chart with very good volumes. The stock has already retraced 78.6% of the last decline and is headed higher. Us minor declines in the next few days to add to the long positions.

The first target for the stock is at 820 and staying above this level, the next target is at 860.

Currently the stop is at 700 and a minor pull back will raise this stop. 

posted by mayurs on Fri Nov 07, 2014 05:48 am


Aditya Birla Nuvo has registered a strong breakout above the descending trendline with very good volumes (see chart attached).

The stock's daily and weekly momentum indicators have turned up and the stock is headed higher once it moves past the earlier intermediate top of 1738.

The first target for the stock is at 1782 and staying above this level, the stock will head towards the second target of 1,838.


posted by mayurs on Fri Nov 07, 2014 05:49 am


KTK Bank broke out of the descending channel on the weekly chart with a gap. Any pull back towards the upper trendline of this channel will be opportunity to buy. In a few cases, the stock may not pull back towards the trendline and this exhibits strength.

The weekly resistance are at 134.50 and 141.70.

Moving past these resistance will take the stock towards the monthly resistance and the next target of 154.


posted by subiuthra on Fri Nov 07, 2014 10:45 am


nice charts mayurs ji..

can u say wht indicator u used as name RGR please..

posted by mayurs on Fri Nov 07, 2014 07:45 pm


RGR is the simple 3/10 oscillator with 16 SMA moving average overlaid on it.

There are many articles on the net on this oscillator and you can find some good work here: 

Hope this clears your queries.................


posted by subiuthra on Fri Nov 07, 2014 08:54 pm


thanks for ur kind reply............

.regards subiuthra..........

posted by mayurs on Wed Nov 12, 2014 05:22 pm


Aditya Birla Nuvo and KTK Bank almost reached the targets of 1838 and 141 mentioned on the 7th.

Hope you all made money........


posted by mayurs on Sat Nov 15, 2014 06:28 am


Asian Paints broke out of the sideways Triangle after having consolidated for 9 weeks in the range. The breakout is with strong volumes indicating bulls are active and suggests that the stock is headed higher.

The weekly resistance for the stock is at 690.

The Fibonacci Extension targets are at 699 and 723.

Look for profits at these targets. Currently the stop is far away and is at 652. Trail the stop as the stock moves higher.

Mayur Shah 

posted by mayurs on Sat Nov 15, 2014 06:31 am


Jindal Saw broke out of the large sideways consolidation with very strong volumes and is headed higher in the coming weeks.

Fibonacci Resistance clusters are at 110-115 and 125-138. These are the immediate resistance zones which the stock will have to cross to head to the next target of 160.

The very strong volumes on the breakout suggests that Big money is into the stock and higher levels will be seen soon.

posted by mayurs on Wed Nov 26, 2014 05:49 am


Asian Paints was discussed earlier. The stock after breaking out with excellent volumes is now taking a breather, and is staying in a sideways triangle. Volumes generally drop when it stays in the sideways range.

As the stock moves closer to the apex of the triangle, a breakout could be seen soon on the upper side and again a new high. A move past 698 will suggest a move on the upper side. Staying below 680 (less likely) will mean that last week breakout above 660 has fizzled out.

Mayur Shah 

posted by mayurs on Wed Nov 26, 2014 09:49 am


Posted chart for Asian Paints in the morning .

Follow up to the mail:

Targets for Asian Paints Futures: 712,722 and 748. Raise the stop to 689.

Mayur Shah