Charts for the Day

[a1b1trader]

Thanks Anil Bhai, for your detailed analysis.

In the evening, will compare with my observation and analysis, that I did yesterday and check where I was making mistake.

Thanks once again

 

[anil_s_trivedi]

Nifty update:

First sign of weakness on hourly bar comes in. Now strength above 6695-6700 only.

 

[anil_s_trivedi]

Nifty update:

Will be weak if breaks 6675-77 levels. It will mark as hourly weakness..
Daily SELL only below, 6580as of now.

 

[anil_s_trivedi]

The extent of corrections will tell something about whether bigger correction warranted or not. Anything greater than 130-140 will raise some questions.

 

[anil_s_trivedi]

Nifty update:

Momentum indicators aligned for a weak case. Opening price action too indicating weakness ahead.

On hourly, weak below 6725...Daily Weakness will be below 6605, a way too down. So a correction of 120-130 points from high made today near 6776 will lead to 6650 levels roughly. A first minimum target on downside.

 

[anil_s_trivedi]

Nifty update:

Strength above 6740 only now.
As told yesterday momentum favouring for a ride downside. First test of 6670-75 levels on cards.
A close below 6670 will take downside momentum further.
A daily will be down if breached below 6620 levels.

 

[anil_s_trivedi]

Chambal fertiliser got tested 31 odd levels and formed a triple bottom and rising since then will smaller consolidation in between. As regular reader here know, i like to trade stock on deliveries and for it 50 SMA test is must for me, unless its a aggressive trade there with small risk out there.

50 SMA is rising mode and will love to see stock clearing 50 odd levels sooner. Entry should be here and till the correction holds of 39 levels, with stoploss of 36.6 levels.

Momentum on weekly charts indicating stock set for quick rally.

 

[anil_s_trivedi]

A clean and nice chart on weekly clearly marking S/R lines, and indicating a rise if clears resistance zone.
Levels given on chart.

 

[anil_s_trivedi]

Nifty update:

Momentum indicators aligned for a weak case. Opening price action too indicating weakness ahead.

On hourly, weak below 6725...Daily Weakness will be below 6605, a way too down. So a correction of 120-130 points from high made today near 6776 will lead to 6650 levels roughly. A first minimum target on downside.

Nifty update:

Momentum is still down in hourly chart. Nifty daily not good below 6640 levels.
Need to see how price action held up here in this zone of 6650 or nearby.

Strength on hourly above 6710 only.

Remember we are in correction of recent rise from 6430 odd levels, if the correction is severe it will be test retracement from 5930 levels. so we will take a step at a time,lets see hourly weakness already hitting lower, daily too will join below 6640 levels.
Crossing below 6640 will lead two scenarios. A swift fall or consolidation phase where upper limit will ceased at 6735-40 zone and lower will be 6600 levels.

 

[anil_s_trivedi]

Nifty update:

As expected nifty hovered near 6650 levels and made a swift move on upside. Clearing resistance zone of 6730-35 levels too.
First sign of intraday weakness will be sustaining below 6795 zone. A move below 6760 will mark as hourly weakness.

Daily weakness below 6675 levels only, which is way down.