Charts for the Day

[manojborle]

Thats was the easiest way to look at charts and trade. This is waht i prefer here in this thread.

Many asked questions how to trade pullbacks...??

Just log on to weekly charts, and see for pullback on to in, with flag or channel patterns. or retesting a key average on weekly charts, which got respected earlier too. or RSI oversold screen if you know how to read RSI.

Keep it simple....

Manoj....just a nice chart...keep it up...

Thanks Sir

 

[anil_s_trivedi]

 

[manojborle]

My view on Nifty:

 

[anil_s_trivedi]

 

[timepass]

It looks like a trendline/resistance break. Maybe it will test the trendline once before rebounding. Just a thought, to not to buy puts on the first test of 7920.

 

[anil_s_trivedi]

Dear TPji,

Yes... thats why i am avoiding longs below this zone. As far as shorting is concerned. If markets holds up more time above it, and then tests 7920 its a sign of weakness for me. As not enough buying is going on above that, if at all it wanna move up.

Expiry week jitters will be there...


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Many of my gann/astro friends, are expecting huge move today or this week...they expect a major top/bottom to be set in.
P.S. --- I dont follow, these things...
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[Esse]

Hi Anil,

Dont think that nifty would touch 8000 before thursday (if at all it does). It will try to eat the premium of 8000 calls. In case it touches 8000 in this expiry it would typically be on Thursday when the call would be available for next to nothing. Similarly on the downside would not probably breach 7830 so as not to activate the 7800 puts. So the big move could be a far fetched thing before the expiry. Baki dua karo.

Regards

 

[anil_s_trivedi]

Hi Anil,

Dont think that nifty would touch 8000 before thursday (if at all it does). It will try to eat the premium of 8000 calls. In case it touches 8000 in this expiry it would typically be on Thursday when the call would be available for next to nothing. Similarly on the downside would not probably breach 7830 so as not to activate the 7800 puts. So the big move could be a far fetched thing before the expiry. Baki dua karo.

Regards

Dear esse,

Yeah...but i am not in the game of prediction. I have my levels, and it will give me when to expect a weakness..else more highs indicate strength only.

So when in long, look for when your positions doesnt look good to hold..same for shorts...

To trap players, at all it will breakone side and then reverse to others...thats all basic TA says...

 

[Esse]

It took me some time to understand that there are players who do not go by opinions / predictions (seasoned guys like you). Initially I would pester you for opinions and you would respond with levels. Now I understand the essence of your price action theory.

Regards

 

[anil_s_trivedi]

Nifty update:

A Close below 7920 on daily and it will indicate lack of bulls appetite to march higher. So Sell on rise will come into play.

On hourly, now strength above 7950 only.

Next round of support levels at 7880-85 zone. If hold good else 7845 in sight.

All options now resting on '7920'...