@French_Fries, when you all started trusting me so much ? :/
French_Fries
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@Yogi_sharma, I was kidding. BTW what do you think of this handy dandy HDFC playbook I have.
yogi_sharma_elliottician
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@French_Fries, Looks beautiful. But but, your handbook just went above my head. @mklives mr.groot what do you think about this?
mklives
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@Yogi_sharma, looks good in the channel ..it can rebound.. but with the elctions am not sure about how the stocks are going to behave..
French_Fries
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@mklives, my theory is this, if it pierced through the upper trend line, there will be a sharp rise in this and institutions will be unloading it for sure, do notice that it’s a plot on log scale. And if it breaks down the lower channel, there is going to be bloodbath in it, plus it will take down nifty and banknifty along with it. I don’t know how much weightage this is having on both the indices but I assume it’s pretty significant. These log channels behaves little differently than linear channels and I found they are much more Better way of looking at things on very long time frames, in this case it’s almost 6 yrs old trend.
mklives
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@French_Fries, oh its a heavy weight..it will drag everything down.. even HDFC looks weak
yogi_sharma_elliottician
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@French_Fries, pchh that uppertrend line is much far and lower is also much far, this stock is dancing at the middle, what about now? :'( @mklives
French_Fries
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@Yogi_sharma, I were you I won’t touch it, I recommend to wait till they touch trend lines, I was able to make big bucks twice just by following this channel once a short and once a long. I would suggest both of you to sometime switch chart to log scale, it gives far better picture.