Charts for the Day

[ashwinikhanna]

Nice thread Anil Trivedi ji!

I have just started reading it and read 10 pages only.... I think its a very good way to learn Price Action techniques from your thread.

Up to now I use to use indicators but now I am seeing and learning some nice Price Action techniques from your chart.
Good work, good initiave and great chart reading skills!

Thanks!

 

[niftyexceltrader]

Dear pradipjee,

Looking at weekly chart, stock trying to come out of four year long consolidation since 2011 mid. Pattern looking like a possible H&S and likley levels to test may come near to 200 if recent rise sustained.

Daily closing below 88 is first sign of weakness on daily. Weekly safe as long as holding 75 levels.

Momentum indicator rising from deep slumber, so if consolidated here, stock may begin next upwards move towards 137/200/232 levels.

Perhaps you mean to say IH&S
But being formed in weekly, I think, this is for long term.

 

[ashwinikhanna]

sorry duplicate

 

[anil_s_trivedi]

Perhaps you mean to say IH&S
But being formed in weekly, I think, this is for long term.

Dear Niftyexceltrader,

Sorry..yeah its Inv H&S. The appearance of the same on weekly is sure an indication of long term and considering the time taken in its formation.

Right now price resisting at neckline...Lets see where it resolve...

 

[anil_s_trivedi]

 

[timepass]

Sounds basically like BB squeeze in action.

 

[anil_s_trivedi]

Sounds basically like BB squeeze in action.

Deat tpji,

It vary according to the definition of volatility which suited to the trader. Some use BB, ATR, etc...

But this i also observed, good profit comes when stock rise from a slumber of consolidation...And those times are not good for fading, but sitting tight...which we retail traders lack...

 

[amitrandive]

AnilJi

Thanks for your educating thread.Just found a quote which justifies Technical Analysis !!!
:clapping:

 

[PS Trader]

Anil & Amit bhai, thanks for the Paul Tudor quotes and other charts. Thats great.

I am looking to enter short or buy Axis bank based on 21 EMA. It reached 21 EMA just now so fast in 2 days. Either side it will give 50 pts. Whats your thoughts on this?

 

[Pradipjee]

Perhaps you mean to say IH&S
But being formed in weekly, I think, this is for long term.

THANK YOU VERY MUCH, ANIL JEE. I AM DEEPLY MOVED BY YOUR WISDOM AND SINCERITY HELP FELLOW TRADERS IN TJ.

YOU RIGHTLY SAID, THE INDICATOR IS RISING FROM DEEP 4 YEAR SLUMBER.

I AGREE AND HOPE HDIL WILL GO UPTO 200 OR MORE.

THANKS INDEED.

pradipjee