The_Chartist 📈's Threads

Mahindra & Mahindra - updated chart

A bullish flag pattern right after the breakout. Although the broader rectangle target of 1190 is way more than this bullish flag target https://t.co/wdAzb7SS7L

Interesting chart of Mahindra & Mahindra consolidating in a rectangle pattern & the price not falling back to the lower support. pic.twitter.com/GJ7rCfkB9f
— The_Chartist \U0001f4c8 (@charts_zone) May 26, 2022

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You are seriously missing a lot of information if you are not maintaining a trading journal. It is much better if you also take a snap of the charts you trade for the post-analysis.

This exercise will tell you about your inherent strengths & weaknesses. 👇👇

How to record a trading journal (TJ) & what to analyze?

What is in a TJ?

Buy Date
Stock Name
The time frame you analyzed (D/W/M)
Long/Short?
Buy Price
SL
Sell Price
Risk took (% of capital)
Sell date
No. of days held
P/L
P/L as % of capital
Buy Reason?
Invested capital/trade pic.twitter.com/WnrvmYuOV0
— The_Chartist \U0001f4c8 (@charts_zone) December 14, 2021

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Divis Labs - even though the business may be great but the price may remain subdued for a longer time. It must spend considerable time here to consolidate itself.

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HAL - this one chart will teach you a lot of stuff

~ Price pattern target or upward sloping resistance?
~ Power of IH&S as a continuation pattern on a long term scale
~ Logarithmic chart that shows up this trendline as resistance while normal does not

Anyways - a strong counter

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Getting in too close to the decisive point.

KPIT Technologies - the only negative is the accompanying volumes before the squeeze.

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Delta Corp - rectangle pattern can also act as a reversal/continuation pattern. Post breakout, the target of the rectangle is the height of the rectangle projected upwards from the breakout level. One of the simplest patterns to trade is due to its horizontal boundaries.

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Correlation between bonds and equities? 👇🏻

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How was the trap set in Nestle?

Click on attached tweet and then its attached tweet to learn what traps are. https://t.co/SjXYJGNVrO

Indian example - Nestle India

Now, you can spot these traps https://t.co/caBHOO4Owa pic.twitter.com/q6vnj6ThrC
— The_Chartist \U0001f4c8 (@charts_zone) January 30, 2022

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Must observe this chart very carefully for the reason that the price is at the confluence zone of 40 weeks MA, a bearish H&S top that has not been activated yet, and the lower boundary of the channel formation.

I call these zones critical areas.

Bank of Baroda

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High volumes could have been better here although I am content with the move from the March lows considering the least risk the setup provided. It is better if we get a strong candle closing above the boundary.

Jubilant Foodworks - updated chart https://t.co/mH1TTqHbcq

Post the capitulation move, I am anticipating an ascending triangle breakout in Jubilant Foodworks however the buy is not triggered yet. That target open would be 667.

Ascending triangles also act as key reversal patterns. https://t.co/M1vLYEsngf pic.twitter.com/f06rbJhLaq
— The_Chartist \U0001f4c8 (@charts_zone) April 21, 2022

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Surprisingly, this week many banking stocks bounced back from their key supports.

Bank of Baroda

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From 1850 to 1990$ - the GOLD is getting more interesting. I will be adding up more if the resistance is taken off and the price follows through.

GOLD https://t.co/l6pEGDpAkL

Most interesting chart:

Orange line = Gold
Blue Curve = Gold/S&P 500

Previously the ratio crossed 50 days MA in Feb' 20 with Gold giving a breakout on the charts. The previous cross of 50 days MA didn't result in gold breaking out. pic.twitter.com/HRG1fvsILp
— The_Chartist \U0001f4c8 (@charts_zone) February 12, 2022

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these low-volume pullbacks after the breakout are a common occurrence. However, what is more, important is the stock's reaction after a pullback. It must bounce back within a few sessions strongly to scale up the size.

Tata Elxsi https://t.co/HGCzOz1ALI

Correction \U0001f447

During upward breakouts, I have to consider price targets and not %age targets. Therefore the target comes out to be 8540 and not 8900 as mentioned before.

The chart stands updated.

Tata Elxsi https://t.co/sdP9X1s9qs pic.twitter.com/Gmhn3OYiNA
— The_Chartist \U0001f4c8 (@charts_zone) March 20, 2022

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So the concept of relative strength will tell you in advance before a breakout about the accumulation by smart hands. The RS will go up before the breakout and the stock will be near to the highs. Near to the highs is only what I am interested in. No bottom fishing.

Some went into the watchlist and some were actionable where my few long positions are already open.

What am I looking at in the charts? Flat base formation breakouts/Pullbacks/Trendline support. Keep it simple. Ex attached.

29/95 for further funda scans. P<100 (I don't trade) https://t.co/y4PKUBrA44 pic.twitter.com/e9cvcrKsnu
— The_Chartist \U0001f4c8 (@charts_zone) December 25, 2021

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We still haven't got any signal of negation in the private banks' index & if the bearish H&S top has to be negated, the index has to move past 19950. Till then, it will be considered a minor pullback

Nifty Private Bank https://t.co/BwG1DKhhLc

I am watching a big bearish H&S top building up in Nifty Private Bank Index. Any breakdown will result in increased volatility in respective charts. For traders - definitely not a spot to be in. The index has to move beyond 19900 to negate the pattern. pic.twitter.com/IGFeyNrtQV
— The_Chartist \U0001f4c8 (@charts_zone) June 19, 2022

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Apollo Hospitals and a clear breakdown. Although the signal came much earlier with a false breakout. Now is the second best exit.

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Cosmo Films - double top target opened = 1500

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Target open for Asian Paints is 2700 https://t.co/FXKaJEeOoT

Turn by turn the leaders crack.

Asian Paints https://t.co/2e5pm2DTdg pic.twitter.com/esIhvhXT37
— The_Chartist \U0001f4c8 (@charts_zone) May 25, 2022

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Credit where it is deserved.

How beautifully @ST_PYI explains in this video the concept of Relative strength & how simple things work in the market.

Looking for stocks making new high amidst this market correction

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The target of Adani Ports for 1010 is still intact https://t.co/bbyfmE3aK2

Adani Ports - the 42 weeks of price consolidation in a symmetrical triangle has decisively broken out for the open target of 1010 https://t.co/vGyAGlwKCw pic.twitter.com/2tVmwddeOX
— The_Chartist \U0001f4c8 (@charts_zone) April 5, 2022

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