BAJAJHLDNG – Bullish – Above – 1680 – SL – 1380

[Ganesh]

After 3 months we could find a gradually growth with volume
Entry 1520 after perform of previous higher top and stop loss 1380
Symbol – BAJAJHLDNG
Direction – Long
Entry Level – 1520
SL – 1380
Target – 1560

[Balaji]

Dear Ganesh Sir,

For Dow theory, the following conditions are applied to determine the market trend:

1. Type of chart – Line charts ( not candle sticks)

2. Minimum data lookup period – 2 years.

3. Spot the major tops and major bottoms and qualify them as higher or lower with respective to the previous tops and bottoms.

I have gone through your Dow theory analysis and my observations are as follows:

1. Charts used is Candle stick
2. Look up period is short.

Kindly request you to check with Murugan Sir. If I am wrong please ignore my comment.

 

[Author]

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