Charts for the Day

[anil_s_trivedi]

Nifty update:

As expected bounce was imminent. Bulls trying hard to close above 7490. I will raise it lower to 7485, if closing above this, bulls lead.

Dabba traders active near 7515 levels spot, as expected.

 

[anil_s_trivedi]

Guys out for few days, not able to update intraday, will try to update, EOD if possible.


Levels posted in morning analysis are valid for whole week.
As they are weekly S/R levels.

sorry for the inconvenience....

Thanks...

Happy Trading...

 

[anil_s_trivedi]

Very Very dicey situation out there today. market in confuse mode..errr..participants in confuse mode...

Restricted at hourly SAR 7511, at the same time missed daily SAR by 0.5 points...at 7494...what to infer...never caught in a situation like this....

5min chart showing +ve divergence....

For tomorrow, my plan will be
if holding 7490, go long with 7480 as stoploss...
one short can be attempted near to 7589 with SL 7590...

Dabba traders standing for opening hour tomorrow at do or die levels of 7512...as they say..go long above...go short below...

Lets see...i am out tomorrow, probably will try to post EOD tomorrow if got time...

bye bye...

 

[praveen taneja]

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.

Bro GMDC made its move today high was at 181 and came back leaving all gain close at 166 but I am out of it today entered in Eros International looks making new Holywood movie in our mkt resistence broken close at 222 your view pls Thnx for all the help I am in it from 213:clap: God Bless us all

 

[dipankar_ghosh]

Dear sir
If u can look at WABAG chart, i feel there is a short term uprise awaiting in the next few days. Thanks

 

[dipankar_ghosh]

Anil sir, kindly detail ITC charts and max downside. Thanks in advance

 

[anil_s_trivedi]

Nifty update:

Nifty daily in SELL mode, with SL 7585 on closing basis for the day. As expected in previous analysis, resistance zone of 7590 given to initiate shorts with small SL. Market did try to get pass this one, but restricted by bears as of now.

Now, weekly close today, so closing below 7410 not good for bulls and will imply testing of 7350 zone minimum.
On daily, need to get a close above 7540 for strength, and close above 7580 is good for bulls.

50 SMA lingering at 7205. By all means bulls need to defend monthly close above 7170-75 levels on monday, last day of this month. else lower levels in sight.

So, plan for day is, hourly SELL till 7535 not taken out. And daily SAR already in SELL mode, with momentum on intermediate still down as of now.

 

[anil_s_trivedi]

The long term investors know when to get out, and when to get in...!!!
Stock still in uptrend, need to see better opportunity to get in...

 

[Esse]

Hi Anil,

In my opinion it will again come down to check for support at the long term down trend line. Then it can be traded with small SL.

Regards

 

[anil_s_trivedi]

Adani in uptrend, stock under consolidation,watch lower volumes on correction, and rising under rallies.
Its a aggressive play out here. I am long in it yesterday at 61.2 with SL of 59 below on closing basis, will be out near to 70. Playing on lower volumes, as position is initiated on breakout and relative strength still showing not some good sign.

Now i have raised SL to 59.9 on closing basis.