Charts for the Day

[anil_s_trivedi]

After analysing BankNifty charts, yesterday and day before, it doesnt seems to be in best of health. Unless budget day high is taken over, it will remain weak. Weekly charts too showing not a good sign if closes here.
It needs to act and improve structure. else every rally their going to be sold off.

 

[umesh12]

After analysing BankNifty charts, yesterday and day before, it doesnt seems to be in best of health. Unless budget day high is taken over, it will remain weak. Weekly charts too showing not a good sign if closes here.
It needs to act and improve structure. else every rally their going to be sold off.

You are right
As per my analysis
A target of 14500 of BNF, still remains to be filled.

 

[anil_s_trivedi]

Nifty Update:

As analysed in our earlier analysis, market weakness will spread till minimum 7430-40 levels. nifty as of now, made low of 7447.
Our intraday analysis, also specified strength on intraday on zone marked as 7530-40, nifty did resisted there and falling slowly towards lower end.

Weekly closing coming to be below 7490 which is bearishness. And want to see test of 7420 levels. The price action near 7420 will give clue of further weakness or taking some support.

Other scenario, may be lower levels done as of now, and some support playing off here. But we need to see, some strength on 5min/ Hourly basis, to justify it.
Now hourly resistance at 7550 levels. And overcoming it is positive for bulls.

 

[anil_s_trivedi]

A scan on CNX 500, to sell stocks which are SELL on momentum with divergence on Intermediate charts...

 

[anil_s_trivedi]

Generally i post Relative performance charts over two year period, But these time, i am posting it from 28/8/2013, the bottom from where SENSEX running in uptrend mode.

As seen, Capital Goods (CG) remain outperformer of this rally, anticipating rollout of pending projects and subsequent pick up in industrial production.

Realty/Bank/Metal also followed but not so great returns as capital goods posted.
The recent peak in SENSEX, is not matched by relative strength of so called these performing sectors, implied there is rotation going on, out of these names.

Similarly, the underperformance by HC/Tech/IT is subsequently shunned by them, as it showed the accumulation going on these names.

 

[anil_s_trivedi]

 

[jain.er]

Cesc is yr fav. Stock, are u looking to re enter at some more correction..

 

[anil_s_trivedi]

Cesc is yr fav. Stock, are u looking to re enter at some more correction..

Dear jain,

Lets see how much it sheds the recent gains. As long as stock is above 50 SMA/200 SMA its in uptrend.
As long as momentum is maintained, i would love to get in it.
As a investor/trader learned this thing badly, there is no such thing as high or low levels in stocks, its all sentiments prevailing at that time...

 

[anil_s_trivedi]

Nifty update:

Daily momentum signals are down on Short & intermediate term, while long term is closer to going down.
As daily closing is on lower side, and for weekly too, price action says weakness is there.

I am seeing a prominent support in 7410-25 zone, also 50 SMA is in uptrend and coming at 7386 levels. So one can expect a bounce in this 7410-25 area, or if breached 7410 then 7386 levels.

For daily to come in trading zone, its demand a close above 7525-30 levels.

On intraday, for morning hour, first sign of strength will come after sustaining 7475 and subsequent crossing 7495 levels. Expect a resistance at 7515-30 zone. sustaining its positive for bulls.

 

[anil_s_trivedi]

While going through some of charts, the top formation...many have formed a solid textbook pinochhio bar or famously called as pin bar.

Point is, i am not saying one should always trade it. But atleast it should alarmed you, that one side is feeling the pain, and in rush to get out. So you shouldn't get caught in the stock.

The point of occurence in a trend, and with earlier price action levels, it confirms its decisiveness for the trade.