Charts for the Day

[anil_s_trivedi]

Nifty update:

As coming in our analysis repeatedly a test of 7415-25 zone. Infact we are with a higher probability of testing this zone, since nifty starts correcting from 7700 and below levels.

Anyways, a support taken and now a follow up needed...for the better of bulls..else...you know better which next level in store...

 

[anil_s_trivedi]

Falling in a channel

 

[umesh12]

Falling in a channel

Sorry Anil Bhai
I differ from you, if holds 7460 NF.

 

[anil_s_trivedi]

Sorry Anil Bhai
I differ from you, if holds 7460 NF.

Dear Umesh,

Bulls on a higher timeframe will love to see closing above these support zone of nifty spot. else there is something bigger in store for them...a surprise by bears...

 

[umesh12]

Dear Umesh,

Bulls on a higher timeframe will love to see closing above these support zone of nifty spot. else there is something bigger in store for them...a surprise by bears...

Yes you are right
But bears will like to trap bulls at some higher levels and not at present levels.
Now 7500 NF and > 7500 -> 7530 NF
holding 7460 NF,

 

[anil_s_trivedi]

Nifty Update:

On higher timeframe charts this zone is crucial as i analysed already. Pre-morning levels viz 7475 and 7495 are still there on hourly charts.

Unable to even test 7475/7495 is a sign of weakness, indicating lack of bull appetite to scale higher.

Above 7495 its good on hourly charts to scale higher levels.

Daily SAR - 7700

 

[anil_s_trivedi]

Nifty update:

I am expecting a support at our 7415-25 zone, and market responded it well. I also gone long yesterday with 7500 CALL at 79 and the way closing coming to be at 3:25 pm, i winded those calls with 2 points loss. And what i see in morning is good gap up, and at our resistance zone of 7525-30 again market struggling. This is the story, when overnight clues led to market jumps and traders missed entry. But anyways sometimes it goes in your favour and sometimes it hurts badly. So always sticking to rules is what important in long term.

On daily, momentum are flattening but still down. Crucial levels to watch on daily are low at 7490 and 7525-30 zone and if its sustained we can see good upside till 7600 too.
Daily SAR is at 7640 zone.

On hourly, momentum on short & intermediate is UP, long term still down. so this is positive divergence played out in short term.

 

[anil_s_trivedi]

 

[Esse]

Anil,
pl shed some light on Tata Steel.
Regards

 

[anil_s_trivedi]

Anil,
pl shed some light on Tata Steel.
Regards

Dear Esse,

Tata steel bouncing off from my favourite 50 SMA.
Momentum wise, short &intermediate are down but flattening, while long term up but it too flattening. Indicating, a consolidation zone as of now.

Price action wise, there is a resistance zone at 540-542 levels, and closing above it will give a bull thrust to upside. Closing below 528 will again prove stock lacking upside strength.