Update: Symmetric Triangle in GMR Infra - 17th Sep 09

GMR Infra Chart Daily:

GMR Infra has formed a Symmetric Triangle in Daily Charts posted earlier. But it didn't give any breakout or breakdown also it is nearing the apex. Now again it has formed small Symmetric Triangle in hourly charts. Below is the hourly chart marked with Symmetric Triangle.

GMR Infra Chart Hourly:

If GMR Infra gives breakout/breakdown with confirming volumes then it may give Rs.10. If it gives break out it may go much higher then the target, but if it gives breakdown there is a possible chance that the Triangle in daily charts may give support.

Few Scrips of interest - 07 sep 09

List of the scrips which took support from the Fibonacci levels on last Friday. Posting this for study purpose.

• RelCap took support from 61.8% it may move up to 944.
• Relinfra took support from 61.8% it may move up to 1215.
• DLF took support from 50%, it has a good chances of moving up to 455/488/518 levels.
• GMR Infra took support from 61.8% and it may move up to 152 levels.
• HDIL took support from 61.8% and it may move up to 349 levels.
• HCC took support from 78.6% and it may move up to 117 levels.

Theory is after formation of "ABC" one can trade towards the target "D" in ABCD pattern. But here the levels are involved with only one Fibonacci level, the probability of reaching the targets is less.

Most of them showed bullishness from the Fibonacci levels, and volumes after the reversal are also good.

Update: Flag and Pole in GMR Infra - 3rd Sep 09

Exit all here at 137 in GMR Flag and pole.

Update: Flag and Pole in GMR Infra - 2nd Sep 09

High Risk traders can book 50% profits in GMR Infra, Flag and Pole at 136.50 level.

Update: Flag and Pole in GMR Infra - 28th Aug 09

GMR Infra chart - 5 mins:

It gave breakdown but not with volumes. Only High risk traders can short it with 144 + filter as stop loss for the target of 135.

Flag and Pole in GMR Infra - 27th Aug 09

GMR Infra Intraday Chart - 5 mins, marked with Flag and Pole:

GMR Infra formed a Flag and pole in intraday charts, break down with confirming volumes from this pattern may lead it to 138 and then to 136.9 levels.

GMR Infra Intraday Chart - 5 mins, marked with Symmetric Triangle:

GMR infra formed a Symmetric Triangle in Daily charts, a flag and pole is formed just on the resistance line. Break out from this flag and pole may lead price to Symmetric Triangle's target.

Symmetric Triangle in GMR Infra (Daily TF) 26th Aug 09

GMR Infra Chart - Daily:

GMR Infra formed a good harmonic Symmetric Triangle in daily charts, today it formed a bullish wide spread bar with high volumes but it didn't break the resistance line with confirmation. Will add longs to my present holdings, if it gives another big up move tomorrow above 146. One must watch out for a breakout with confirming volumes to enter the trade.

P.S : that is why I was waiting for 146 to book my 25% profits in intraday, but it didn't happen.

Update: Symmetric Triangle in GMR Infra - 26th Aug 09

Update at 27 Aug 09 -12:55 A.M:

Booked all at Rs.142.7

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Update at 3:25 P.M:
Booked 25% more at 143.60, don't want to risk more. Still holding 25% of long trades.

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GMR Infra Chart - 15 mins:

Target for the symmetric triangle in GMR Infra is reached, booked 50% here at 143 and keeping trailing stop loss from here. Expecting upto 146 in this up move lets see. Watch out the price action.

Symmetric Triangle in GMR Infra - 21st Aug 09

GMR Infra Chart - Hourly:

GMR Infra formed a symmetric triangle in hourly charts. Take the long trade with big filters to avoid the spikes or false breakouts. Watch out from conforming volumes at the breakout. Will explain in detail after market hrs.

Update on Symmetric Triangle in GMR Infra - 10th Aug 09

GMR Infra Chart - Hourly:

Update on GMR Infra Symmetric Triangle, it reached the target of 127 today at closing.

Update on Symmetric Triangle in GMR Infra - 6th Aug 09

GMR Infra Chart - Hourly:

GMR infra gave breakdown from the Symmetric Triangle today with good volumes in 5 min break down bar and continued further till end of day. Short triggered at Rs.139 and closed the trade at Rs136, total 2% profit for intraday

Will take trade tomorrow again depending on the situation, target for this pattern is not yet reached which is at 127 levels. Caution1 on hourly charts volumes are not big at the breakdown also as I have mentioned in previous post volume pattern is not consolidating. Caution2 from present levels there is little chance of forming bullish ABCD is also there.

Symmetric Triangle in GMR Infra - 4th Aug 09

GMR Infra Chart - Hourly:

A Symmetric Triangle is formed in GMR Infra, but volume pattern is not consolidating. Trade must be taken with caution, confirming volumes at the break out is must. Strict stop loss must be followed with this trade.