Charts for the Day

[anil_s_trivedi]

DLF a pick from realty sector is trading at 200 SMA level. 50 SMA is in rising mode. Price action nature telling a brief correction here below 200 SMA and stock will rise in near term.

Remember, its a pure 200 SMA play and one can get in with strict stoploss at 140 on closing basis.

The political slugfest going around will have its bearing, so it will needed a caution too.

 

[anil_s_trivedi]

Nifty update:

With closing below 6745 a positional sell on daily too triggered, its from one of my system under study, any strength now above 6810 only.. Remember we have already anticipated weakness from 6850 zone.

 

[anil_s_trivedi]

NTPC looking like a fit 50 SMA trade. As of now, its falling but at slower pace. Looking at price action, it seems flattening of 50 SMA on cards. And then its a prefect trade waiting here.

The two selloff marked are with gapdown and with huge volume.
Stoploss for this trade is marked on chart.
Momentum bottoming also coming in charts, keep watching.

Dear Friends,

Entered on 25th April @ 119.95

Exited @ 29th april @ 117.75
SL triggered out of the trade.

Will wait for further clues.

 

[jain.er]

Thanks anilji for predicting market fall in advance

 

[anil_s_trivedi]

Thanks anilji for predicting market fall in advance

Dear jain,

Nope....'Prediction'...plz stay away from this word...we only analyzed price action weakness and trend momentum, which signaled higher downside chances.

Tomorrow is a holiday, And weekly closing coming on friday will tell us more. what is the correction nature.

A close below 6710-15 zone will make it vulnerable for bigger falls. A close above 6780 will again put bulls in uppermode.

We will take a step a time, as price action will be purely driven by Election expectations from now on for 'Novices'. As smart ones already made money on it, now is the time for small timers to showcase their skills...

 

[amitrandive]

Dear jain,

Nope....'Prediction'...plz stay away from this word...we only analyzed price action weakness and trend momentum, which signaled higher downside chances.

As smart ones already made money on it, now is the time for small timers to showcase their skills...

Anil Sir
This is excellent.
:clapping::clapping::clapping:

 

[anil_s_trivedi]

 

[dipankar_ghosh]

Dear Anil sir,
Can the markets test the last high of 6400 in this month.

Thanks in advance

 

[anil_s_trivedi]

Dear Anil sir,
Can the markets test the last high of 6400 in this month.

Thanks in advance

This is the question asked by almost all of my option writer friends.
They all want to write them puts/calls.

On 24th april, i already told some of my friends write put/calls 500 point spread away when nifty gives any weak sign on not moving up, and get out before the 'D' day...let the buyers come and play lottery, but as a writer you strictly getout near to 10th may, before the last polling phase.

Dear Dipankar, seriously friend dont know whether market will test new highs or lows. But Monthly close as of April is on strong side. Weekly close as of yesterday is not good and lower levels may be testable. Daily already in SELL mode. Only this much info i have.

Whats your call, whats your trade..???

 

[dipankar_ghosh]

Dear Anil Sir

Understand 6650 is a very important support. I only play in equities, burnt my hand in futures earlier.I am holding long positions in many counters, one of them DLF, which has closed below your EOD support of 140/.