Charts for the Day

[Esse]

Hi Anil,
Pl give your views on sunpharma for this expiry.
Thanks

 

[anilnegi]

Hi Anil,
Pl give your views on sunpharma for this expiry.
Thanks

Esse

The thread was started by Anil ji for learning purposes, you should post your understanding on the chart and than ask for help from anil ji,

by this we all got benefitted, hope you wond mind

Anil negi

 

[anil_s_trivedi]

Hi Anil,
Pl give your views on sunpharma for this expiry.
Thanks

Dear Esse,

Sun pharma is one such stock which is in multiyear uptrend mode. And still is in. Until it gets negated with price action. May be for long term players its breach in that long term trendline is first such sign.

Previous monthly bars are bullish ones. And weekly too get carried far away.

Although -ve divergence is seen on momentum oscillators, but price action needed to follow it through. A resisting action on daily at 370-375 and its reluctance to close above it ( switch your chart to line chart), is a sign of some weakness.

Focussing on hourly charts, a price S/R levels coming at 870 and 850 zone. So i would prefer bearish action below 850.

Remember this bearish action will be impacted on daily. And to spread it on weekly it needs bigger action to confirm it.

But we will first see, whether resultant price action weakness if appears on hourly, spread it to daily.

 

[Esse]

Thanks negi for this valuable input. I definitely do not mind since what you say appeals to my logic also, only thing I could not see it on my own. I will rectify from now on.
Thanks once again.

Esse

The thread was started by Anil ji for learning purposes, you should post your understanding on the chart and than ask for help from anil ji,

by this we all got benefitted, hope you wond mind

Anil negi

 

[manojborle]

My view on Nifty:

:clap::clap::clap:
Nifty did halt near our mentioned resistance of 8136.65. This is only increasing my confidence in trading Fibonacci Levels.

Note: Sorry Anil Sir for posting my Nifty chart in this thread however my previous chart was in this thread. From next time I will put Nifty charts in your new thread.

 

[insider]

Sterlite Technologies seems all set to regain its roaring uptrend. Out of downward channel, the stock is back in form. Now the stock is in a rounding bottom formation and set to breakout of 72 levels. Buy with a stop at 63.

 

[anil_s_trivedi]

Although stock in uptrend on daily. But hourly structure deteriorating. Momentum oscillators giving -ve divergences. Price need to confirm now for testing lower levels.

Spot support 2356.Below 2342 can have a serious crack.

 

[ghanaga]

Amit Ji,

Can you please comment on HDFC. Do you agree between 1020-1030 is a good entry point?

Thanks
ghanaga

 

[anil_s_trivedi]

Amit Ji,

Can you please comment on HDFC. Do you agree between 1020-1030 is a good entry point?

Thanks
ghanaga

Dear ghanaga,

Stock in uptrend have brief interaction with 50 SMA earlier on daily charts. Expecting a support zone near to 1030. A crucial one near to 1000 levels. These levels has been proven cumbersome to breach it on upside.

Analysing hourly chart, todays snapback rally in the end is a good one. Whether its a short covering or fresh longs need to be seen. But closing on daily still not improving.

 

[ghanaga]

Thanks Amit ji. I feel we should wait for the confirmation.

Thanks
ghanaga