Charts for the Day

[anil_s_trivedi]

Nifty update:

Spot:7518

It seems bears are forcing bulls to break 7490 this time.

 

[shreeux]

Nifty update:

Spot:7518

It seems bears are forcing bulls to break 7490 this time.

What about PVR ? today good move...

 

[anil_s_trivedi]

What about PVR ? today good move...

Dear shreeux,

PVR is in long term uptrend. Momentum reading are up on daily are worsening on stock. and any longs will need to have tight stoploss. As stock seems to be in vertical uptrend, which may be final one.

Why..?? It is loosing on relative strength on weekly vs Nifty, and it seems current run up is used to get rid of holdings...But i cant say where current run up will go, since stock is fresh highs, and its difficult to pin point a levels for stocks breaking making fresh highs.

 

[shreeux]

Dear shreeux,

PVR is in long term uptrend. Momentum reading are up on daily are worsening on stock. and any longs will need to have tight stoploss. As stock seems to be in vertical uptrend, which may be final one.

Why..?? It is loosing on relative strength on weekly vs Nifty, and it seems current run up is used to get rid of holdings...But i cant say where current run up will go, since stock is fresh highs, and its difficult to pin point a levels for stocks breaking making fresh highs.

Ok, Thanks for valuable suggestion...

 

[praveen taneja]

Anil Bro I am long on GMDC now can you give your valueable view on GMDC???

 

[anil_s_trivedi]

Anil Bro I am long on GMDC now can you give your valueable view on GMDC???

Dear PTji,

GMDc in long term uptrend, but short term it gets overextended, and demand cooling. It may corrects till 150 levels. The correction may be sideways also. But one more attempt afterwards above highs of 176 is pending.

So i will try to go long near to 150 zone, in this stock, as momentum on weekly is still aligned on upside, and whatever the short term correction come, can be used as for going long.

on upside, projection wise and price action wise, 200 - 202 is stiff resistance. Also the trendline resistance coming at same zone. So i assume its a good level to get out, if price hesitate to get above that.

A close below 161 is sign of correction coming.

 

[anil_s_trivedi]

Nifty update:

closing above 7625 only will positive for bulls
Daily resistance 7585-90.

Hourly Resistance 7560-65, above this hourly closing will be good for bulls.

 

[anil_s_trivedi]

 

[shreeux]

Dear PTji,

GMDc in long term uptrend, but short term it gets overextended, and demand cooling. It may corrects till 150 levels. The correction may be sideways also. But one more attempt afterwards above highs of 176 is pending.

So i will try to go long near to 150 zone, in this stock, as momentum on weekly is still aligned on upside, and whatever the short term correction come, can be used as for going long.

on upside, projection wise and price action wise, 200 - 202 is stiff resistance. Also the trendline resistance coming at same zone. So i assume its a good level to get out, if price hesitate to get above that.

A close below 161 is sign of correction coming.

I bought @ 165 level....if go below i will accumulate buy on dips....Thanks for suggestions...also praveen taneja asking query !!!

 

[Esse]

Hi Anil,

Could you please give your take on BPCL. Time frame : 3-4 weeks

Regards