Introduction to Charting
Charts are an invaluable tool for technical analyst. As we know that in technical analysis we should have to read price movement and for studying price we require charts. Charts is nothing but the price time movement in a graph sheet.
In daily chart the closing price of a script is taken in X-axis and the time is taken in the Y-axis and we get a point.
By joining that points to the previous days point we will get a line. In this way we get number of lines. This culmination of the lines are called charts.
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