Charts for the Day

[anil_s_trivedi]

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/.

Dear Dipankar,

As it closed below our SL level specified, i exited. Its better to take few bruises than hit it all over the body.

It will give opportunity again. Will wait and see how it pans out here neat to 136 zone.
The earlier price action support zone. If holds up it may throw up surprise.

Remember its a risky trade, as i challenged my own rules of trend following while recommending this one. As its a aggressive one.

Point is never shy to take small stoplosses than going down averaging with it.

My advice:

Do have any strategy in place for your trades, if no. Then for god sake have one, with Risk management under your belt. Its never too late in market. Market will be anywhere it will always throw opportunity to ones who are ready to lap it up.

 

[anil_s_trivedi]

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/.

Dear dipankar,

6650...h you are talking about nifty.

I have my set of rules defined, where to look for strength and where for weakness. I already said, month trend up, weekly got closing , not so good and daily down.

Whats the inference..???

Remember, market down turn overnight.(unless 'Black swan') They create the wave of accumulation and distribution. So whenever market want to correct on higher timeframe, it weakness will first act(seen) on daily charts, then weekly and then monthly. Its true by the time we ascertain monthly weakness it already 5% cut on the index.

So i personally alert myself as soon i got weekly weakness confirmation. This week is first nail hit. And coming days will show it hands.

Remember, If its weekly weakness, then smart money will try to trade the market UP in half of the week, and will show its true hand as weekly closing approaches. Its a lesson learned hard way.

Higher timeframe always rules.

 

[TradeOptions]

Dear Dipankar,

As it closed below our SL level specified, i exited. Its better to take few bruises than hit it all over the body.

It will give opportunity again. Will wait and see how it pans out here neat to 136 zone.
The earlier price action support zone. If holds up it may throw up surprise.

Remember its a risky trade, as i challenged my own rules of trend following while recommending this one. As its a aggressive one.

Point is never shy to take small stoplosses than going down averaging with it.

My advice:

Do have any strategy in place for your trades, if no. Then for god sake have one, with Risk management under your belt. Its never too late in market. Market will be anywhere it will always throw opportunity to ones who are ready to lap it up.

Anil sir, thanks a lot for your views. I also think that if the stop loss has been hit in the DLF then it is better to exit the trade because DLF is showing lot of weakness recently.

I am sharing the data for the Realty Sector Futures, but since the stocks and futures are highly correlated, so I think we can use this data for analysis.


Past week performance

Longer duration performance

Chart of relative performance

HDIL is the strongest and DLF seems to be the weakest currently.

Thanks

 

[anil_s_trivedi]

Anil sir, thanks a lot for your views. I also think that if the stop loss has been hit in the DLF then it is better to exit the trade because DLF is showing lot of weakness recently.

I am sharing the data for the Realty Sector Futures, but since the stocks and futures are highly correlated, so I think we can use this data for analysis.


Past week performance

Longer duration performance

Chart of relative performance

HDIL is the strongest and DLF seems to be the weakest currently.

Thanks

Dear TradeOptions,

Yes rightly said. The stock is more tangled in a political war. It has to pay for it. Since DLF made huge chunk on those 2007 bull market. So one has to repay here.

Thanks for the chart.

 

[TradeOptions]

Dear TradeOptions,

Yes rightly said. The stock is more tangled in a political war. It has to pay for it. Since DLF made huge chunk on those 2007 bull market. So one has to repay here.

Thanks for the chart.

Wow, I forgot about this perspective completely ! Maybe this is the reason why DLF is showing the weakest performance in the Realty Sector. DLF+Robert Vadra will be on the loosing side if NDA comes to the power.

Thanks

 

[anil_s_trivedi]

Wow, I forgot about this perspective completely ! Maybe this is the reason why DLF is showing the weakest performance in the Realty Sector. DLF+Robert Vadra will be on the loosing side if NDA comes to the power.

Thanks

Dear Tradeoptions,

Again i like to clarify, yes i accept its messed up in a political war. But we as a follower of technicals will like to stay away from analysing from that point of view.
If we get a buy signal on our analysis with risk under the belt, one should go long in it. Why afraid when there is a risk management on our side.

Infact when we pick Adani enterprises in feb. Its under the cold, and we dont know what is going to happen. Infact on sameday, Mr. Kejriwal the honest man, shouted like there in no tomorrow for Adani. But as a true follower of technicals we remain sticked to it on our long position. and its a star performer for us in these recent months.
So point is, if we avoided that trade due to negative political sentiment, then we are the looser.

 

[TradeOptions]

Sharing here the Relative Strength list of most Bullish and Bearish counters based on the net total of various parameters. These ranks change on a daily basis based on the market action that happened on that day. (Please do not take any trading decision based solely on these ranks as one need to do his/her own analysis before taking final decision).

It is not possible for me to thoroughly analyze each of these stocks on a daily basis. So I am thinking about sharing this list here so that those members who have also got these same stocks in their tracking radar based on various perspectives like - Chart Patterns, Open Interest Analysis, Technical Indicators etc. can share their views and we can all zoom in on the counters showing the most potential. Nothing is 100 % guarantee and anything could happen in the markets, but still it is better to focus on the relatively strong counters for buying and vice verse.

Counters showing Strength -

Counters showing Weakness -

Thanks and regards

PS: If it is not the right thread to post these lists then please let me know.

I would like to clarify it that simply because these counters are shown as bullish or bearish, does not really mean a great deal. I have seen it many times that the strongest one from this list gets beaten up next day itself and vice verse for the weakest ones.

So we all need to do our own analysis before risking our money. This list should be just considered as a small helping tool to shortlist the counters to be researched and nothing else. There is absolutely no guarantee that the strong most counters from this list will move up today. In fact the opposite could happen quite easily. So please be cautious before doing real trades.

 

[anil_s_trivedi]

Nifty Update:

Resistance on weekly at 6775-80 levels. A weekly close above this will take weekly in uptrend mode from current sideways mode.


Facing difficulty in chart posting.

 

[anil_s_trivedi]

Lesson:

A classic example of higher timeframe trend assertion. What it means..??
It simply means, higher timeframe shows it hands as and when it needed most.
As of today morning we are in daily - down, Weekly - sideways, Monthly - Up

But, the break of 6740 made daily UP, and weekly also seems to be closing above 6780 or so levels.( Hope so it holds till EOD).
So monthly - UP has asserted it pressure when it needed most, near to weekly support zone of 6640-50 levels, avoiding it to breakdown there.

It has been an observation, during any major event, these higher timeframe acts always comes in between., and how can i forget our friend turned enemy ' Volatility' making life miserable of day traders and swing traders.

Trade strictly with levels and stoplosses, a request from a trader/investor who already burned it hands when trying to outsmart market during such market events...

Trade light, we dont want to be millionaire in this event. But left something to face another day...here in the game called 'Market'...

 

[amitrandive]

Lesson:

A classic example of higher timeframe trend assertion. What it means..??
It simply means, higher timeframe shows it hands as and when it needed most.
As of today morning we are in daily - down, Weekly - sideways, Monthly - Up

But, the break of 6740 made daily UP, and weekly also seems to be closing above 6780 or so levels.( Hope so it holds till EOD).
So monthly - UP has asserted it pressure when it needed most, near to weekly support zone of 6640-50 levels, avoiding it to breakdown there.

It has been an observation, during any major event, these higher timeframe acts always comes in between., and how can i forget our friend turned enemy ' Volatility' making life miserable of day traders and swing traders.

Trade strictly with levels and stoplosses, a request from a trader/investor who already burned it hands when trying to outsmart market during such market events...

Trade light, we dont want to be millionaire in this event. But left something to face another day...here in the game called 'Market'...

Anil Sir

Totally agree with you on this.Have posted something similar in my thread.
:clap:
http://www.traderji.com/technical-a...high-probability-breakouts-17.html#post966378