Charts for the Day

[anil_s_trivedi]

 

[anil_s_trivedi]

Trailing stoploss:

Hindalco - Short term player - 156
Positional - 149.8

Arvind - Short term - 296
Positional - 290

Renuka - Short term - 16.5
Positonal - 16.5

 

[anil_s_trivedi]

Trailing stoploss:

Hindalco: Aggressive : 161.25
Conservative: 152.25

Arvind: A:Sell here
C: 290.5

Renuka: Aggressive: 16.97
Conservative: 16.5

 

[anil_s_trivedi]

Trailing SL:

Hindalco : Aggressive: 162.25
Arvind: Already out for aggressive ones
Renuka: 17

 

[anil_s_trivedi]

 

[timepass]

Union bank seems to be hesitating in the previous resistance zone of 220-230. There is a series of indecision candles in the last 2-3 days and range contraction yesterday. Is it looking good for a healthy breakout, if breaches 235 ??

 

[anil_s_trivedi]

On charts uptrend in monthly wise price action,weekly too up...Although daily is getting corrected or consolidated. Would be a fall if closes below 220 can test lower till 206-210 too.

So this is ideal to get hold on longs on this consolidation phase. Momentum wise many signs of stock will hold 200 levels and stage getting set for a clearance of 260 and then testing 290-295 odd levels.

Weekly chart looking constructive of this recent rally and pointer are for upside only. The concern only is its lacking on relative basis compared with its peers. So stock need to attract some attention here.

My personal view if wanna trade is, i will wait for suitable R:R before venturing here. Will think over if stock trade near to 205-210 levels.

Also a clue of strength is if stock clears recent highs of 230-235 without touching/testing 215-217 levels.

 

[timepass]

On charts uptrend in monthly wise price action,weekly too up...Although daily is getting corrected or consolidated. Would be a fall if closes below 220 can test lower till 206-210 too.

So this is ideal to get hold on longs on this consolidation phase. Momentum wise many signs of stock will hold 200 levels and stage getting set for a clearance of 260 and then testing 290-295 odd levels.

Weekly chart looking constructive of this recent rally and pointer are for upside only. The concern only is its lacking on relative basis compared with its peers. So stock need to attract some attention here.

My personal view if wanna trade is, i will wait for suitable R:R before venturing here. Will think over if stock trade near to 205-210 levels.

Also a clue of strength is if stock clears recent highs of 230-235 without touching/testing 215-217 levels.

Yes. I see that gap, and the later attempts to breach it. It seems to have become the battleground for the bulls and the bears.

Fundamentally, there has not been much change because of the results. But technically there has been a change in november series. The lot size has changed from 2000 to 1000. I don't know how it will affect the price movement, but maybe it will affect the actions of the hedge fund managers and the intraday players.

 

[athma_shakti]

Dear athma_shakti,

Yes it was a spot on...Good ones...And it added importance as the timeframe is higher one...so the validity of pattern holds good.

Another thing to get hold on is time period under formation. Like the daily H&S will have impact as limited to daily charts...but that on weekly is surely a killer one...

This pattern study is actually seen by Retail players on lower timeframes and they get caught in the process of trading it. But instiutional technical analysts see them as accumulation/distribution or continuation ones...

Like double top formed on weekly, where tops separated by 7-9 weeks is the one of a kind distribution on weekly timeframe..and gives clue that some big players are slowly exiting the stock...As the quantity hold by them needs to be slowly offload, and then a final dumping goes on.

Great!!!
i came across this pattern of petronet in 5 min timeframe
i wonder wat kind of pattern is this, it looks odd isn't?, wats your opinion?

 

[anil_s_trivedi]

Trailing stoploss:

Hindalco : Aggressive : out of trade at 161.25 ( position initiated at 147.5)
conservative : Hold with stoploss of 153.25 on closing basis

Arvind: Conservative: Sl 293 on closing basis

Renuka: Aggresive: 17.6
Conservative: 16.5 on closing basis (position initiated at 16.25 levels) CMP : 18.25