What is a Chart

A chart is simply a graphical representation of a series of prices over a given time frame. For example, a chart may show a stock's price movements over a one-year period, where each point on the graph represents the closing price for each day the stock is traded.     

Chart Construction

The X-axis on a chart plots the periods for which prices are plotted and the Y-axis plots the value or the price of the share. This could range from a few hours to a few years. This means that prices can be plotted based on the prices that range from hours to years. Thus we could have minute charts as well as hourly, daily, weekly, monthly, quarterly, yearly charts based on the above data.

Short Term Traders trade on the basis of daily charts as they are more interested in the immediate movement in the stock prices, whereas Medium term to Long term Traders area more dependent on weekly/monthly charts as they want more returns for which they are prepared to wait for a longer duration. 

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