Do stocks really follow technicals

For past 6 months i observed many key stocks ( eg mphasis, page, mindtree, sun TV etc) don’t seem to follow any indicators or maths. It is driven by black den house of operator gambling.

I am wondering if one can rely on these charts to enter a position.

Stocks tend to follow technicals in the short run unless there is an unforeseen shock.

Usually it means you are using the wrong tools. You need advanced technical studies. The usual stuff is already old and inaccurate.

Take for eg this mphasis. Past one week looks really direction less. Somewhere i feel these stocks don’t follow any real logic and under operator hands

Stock broke a consolidation, shot up and retraced to 61.8%.

Trend Follower -

We should look for opportunities to sell as the current trend is downtrend; so we can wait for a swing high (i.e. lower high)

Mean Reversion -

In case you are looking at slight lower TF

**Technical Never tells that you will get 100% win ratio. A system is definied with two things - win ratio and avg profit/loss. **

Here is a technical system which is

|Win Ratio |55.21|
|Avg Profit|5270.13|
|Avg Loss|-3455.00|

You will find reasons for every trade taken/shared in the sheet.

Here is a technical system with 98.44% win ratio.

1 Like

It is in downtrend. It is at support. Last time I sold 540 PE and made 8K. This time I am again waiting to do the same when fall is complete or there is sign of reversal.

Entered at 802.7 Exited at 838
Entered 802.7 (same point) TSLed at 857

Shorted at 25219. [Intraday] Page India Short for NSE:PAGEIND by Amit_Ghosh — TradingView India

Classic Downtrend.

Why do you guys/girls (with no offence to anyone) think share price movement should/must follow technicals?:thinking::thinking:
Technicals are based on share price movement but not vice versa for sure.
Past performance never guarantees future performance and it is a universal truth applicapable everywhere, each aspects of life.


You are talking about indicators.
Price Action + Indicator = Technicals.
Leading Indicator + Lagging Indicator = Indicator

Lagging Indicator is not capable of giving trading decision because “Past performance never guarantees future performance and it is a universal truth applicapable everywhere, each aspects of life.”. It is just used for confirmation. As you can see in my charts, I don’t use them as well.

Suntv support broken. Gave 15K.

indicators follow price action

@unofficed valuable charts and terms
Will spend time studying the same this weekend

1 Like

Technical indication are as per previous periods data.

Isn’t technical indicators a part of technical analysis… And isn’t technical analysis more of an art than science

What are the correct and new tools ?

Personally, I don’t follow technicals. Actually, I found them very confusing.
I only follow price & only an indicator “Moving Average”. You may not believe but I also found Line Chart the most useful chart type.
Because it shows actual price,meaning no noise at all. Follow price only & everything(indicator)will follow.

@Bull4life data analysis.

me too.