tag:blogger.com,1999:blog-5705623744184979560.post7681223246400574586..comments2023-11-02T11:02:27.252+05:30Comments on Trading With Trends: Rakesh Jhunjhunwala Positive On the MarketsVikas Sharmahttp://www.blogger.com/profile/08543239417902518644noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5705623744184979560.post-55564844811818332362008-09-24T14:51:00.000+05:302008-09-24T14:51:00.000+05:30Yes, Radhika, you are right. I am looking at the h...Yes, Radhika, you are right. I am looking at the highs and the lows too, and not only the closing prices.<BR/><BR/>Send me a mail on vikas.sspl@gmail.com and I'll get back to you with the details.Vikas Sharmahttps://www.blogger.com/profile/04391429799808364915noreply@blogger.comtag:blogger.com,1999:blog-5705623744184979560.post-17388654040937822632008-09-24T08:52:00.000+05:302008-09-24T08:52:00.000+05:30Thank you Vikas. Your are not looking at only the ...Thank you Vikas. Your are not looking at only the closing prices, am I right? I would appreciate the details on email whenever you can.Anonymoushttps://www.blogger.com/profile/00178531873536123518noreply@blogger.comtag:blogger.com,1999:blog-5705623744184979560.post-9478702624518599212008-09-23T18:03:00.000+05:302008-09-23T18:03:00.000+05:30Well, Radhika, we generally say that a stock/index...Well, Radhika, we generally say that a stock/index is in an uptrend when it is making higher highs and higher lows. As far as the current situation is concerned, if you look at the chart, you would notice that Nifty made a pivot high on 11th July 2008 at 4215.50, made a new low on 16th Jul and crossed the high of 11th Jul on 22nd July. So, an intermediate uptrend started on 16th July, but wasn't confirmed till 22nd July 2008 and this H&S signals reversal of this intermediate uptrend. Yes, you are right, the primary downtrend started in January 2008, but wasn't confirmed till 9th June. See this on the chart and you will understand. If you still don't, let me know and I will mail you in detail.Vikas Sharmahttps://www.blogger.com/profile/04391429799808364915noreply@blogger.comtag:blogger.com,1999:blog-5705623744184979560.post-46789846804623805842008-09-23T11:39:00.000+05:302008-09-23T11:39:00.000+05:30Vikas, Thank you for the clarification on the H&am...Vikas, Thank you for the clarification on the H&S and the trend. Are you saying that the H&S signalled reversal of the Primary downtrend or the intermediate uptrend. If I am correct the downtrend started Jan 2008. Where do you see the intermediate uptrend from. I am a beginner, so do appreciate your comments. Thanks, RadhikaAnonymoushttps://www.blogger.com/profile/00178531873536123518noreply@blogger.comtag:blogger.com,1999:blog-5705623744184979560.post-71049958577574469292008-09-19T13:36:00.000+05:302008-09-19T13:36:00.000+05:30Radhika, a head and shoulders (H&S)pattern is ...Radhika, a head and shoulders (H&S)pattern is a H&S pattern no matter where it appears and has the same implications - a reversal in the trend. And as far as the present trend is concerned, we were in an intermediate term uptrend (though in a long term downtrend) which has now been reversed. <BR/><BR/>As far as the volumes are concerned - just remember that when prices go up, volumes go up and when prices come down, volumes come down. If it is not so means something is wrong. This means that falling prices with rising volumes is bearish and rising prices with falling volumes is also not very healthy. In a nutshell, that's what the volumes tell us.Vikas Sharmahttps://www.blogger.com/profile/04391429799808364915noreply@blogger.comtag:blogger.com,1999:blog-5705623744184979560.post-17412561822322317402008-09-19T12:30:00.000+05:302008-09-19T12:30:00.000+05:30Yes, I can see the Head and Shoulders formation. B...Yes, I can see the Head and Shoulders formation. But my understanding is that a H&S top (like this one) typically appears in an uptrend to signal a reversal. So what is the significance of this H&S in what looks to be a downtrend. Also, the all important factor of "volume" is not too clear to me. Can you clarify?<BR/>Thanks,<BR/>RJAnonymoushttps://www.blogger.com/profile/00178531873536123518noreply@blogger.com