Charts for the Day

[anil_s_trivedi]

Another counter in my opinion worth looking is Sasken though its a high risk counter.
The stock ran up from 210 to 305 levels in 2 days. After which it has languished around. Had the stock not have steam left it would have surely corrected in these weak days. But the action suggests it has consolidate on upward boundaries. A strict stop at 290 can be put and accumulate at current level of 317. 475 may be on cards once 350 is cleared.

Dear insider,

stock although maintaining same range for past two weeks, but price action bars showing longer upper tails. Will look for better other opportunities.

Its my personal view.

Thanks...

 

[anil_s_trivedi]

A simple trades for investors looking for deliveries in market when conditions of oversold arises. A good ones with better R:R...

 

[jain.er]

On budget day it provided excellent opportinity @1500 levels. Now its down due to 100 rs ex div.

 

[anil_s_trivedi]

 

[anil_s_trivedi]

 

[shreeux]

Hi,

My average price is 348....many times reached 370-380...but i was expect 395-400..but failed....Can i wait...how long it will taken..?

 

[anil_s_trivedi]

Hi,

My average price is 348....many times reached 370-380...but i was expect 395-400..but failed....Can i wait...how long it will taken..?

Dear shreeux,

Incurring almost 21-22% loss. What money management are you using...??
Dont fall in love with stock. If the basis for your trade becomes invalid, better you exit same time.

I am really not into predicting, but for ant sign of strength it needs to first attain 310-315 zone till then its a weak case.

Have a trading system/plan in place, dont trade like this...please...Expect support at 246-250.

 

[anil_s_trivedi]

Nifty update:

Morning gap-up and moving up holding opening lows. A resistance zone of hourly charts coming at 7686 levels. Will reverse hourly to up if closing above this.

On 5min, a stiff resistance at 7672 levels, holding it will be +ve for intraday. Below this its a weak.

 

[amibrokerfans]

dear anil
i know i am asking too much from you. but pls... can u teach us how u spoting yr sup/res zone?

 

[anil_s_trivedi]

dear anil
i know i am asking too much from you. but pls... can u teach us how u spoting yr sup/res zone?

Dear amibrokerfans,

I use pivot high-lows with intermediate pivots as of more importance, alongwith Price action levels and add to it, crucial moving averages like 21EMA, 50 SMA and 100 EMA and 200SMA...these moving averages are used right from 5min to weekly charts.

Its more of culmination of all these in such zones where i get good S/R levels, for judging weekly structure to weak/strength i use same alongwith daily HH-HL formations too.

It will be a complex in first instance, but it is easier one with time, if one practice it. If i want to judge daily in trouble, then first clue is rejection from significant level and breaking key averages on hourly, and structure favouring correction on daily charts, as hourly pointing weakness and likely will spillover to daily charts.

One day, i will write rules for it, so that its easier to layman to just look at charts and see whether its strength/weak on that timeframe. But right now, its a research thing, and it has polished my chart reading skills, these i need to accept.