Charts for the Day

[mastermind007]

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.

Very Berry Interesting!!! Incidentally, I had looked at this scrip few days ago on daily chart and Gartley was showing bearish formation, so I checked it again today and it is still showing bearish formation... Weekly shows no recognized pattern.

As such HDIL has not paid bonus, dividend etc in last few years to raise any interest....

 

[anil_s_trivedi]

 

[anil_s_trivedi]

 

[anil_s_trivedi]

On weekly its in downtrend, monthly close below 340 will pose threat to this long term uptrend.

Looking at long term TL support, its good to hold for bulls to eye higher, else this time not good for bulls. With prices peaking higher & higher for 2014-2015, momentum not in good stride here, indicating a lack of bulls enthusiasm to take price higher. So its a caution here for those holding longs.

Regaining 350 is first sign of strength and moving above 365 will add another tick of strength...

 

[khurshedmanjra]

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...

YES, longer the consolidation, stronger the base for breakout !

 

[anil_s_trivedi]

 

[prst]

sir, any target for tata steel?

 

[anil_s_trivedi]

sir, any target for tata steel?

Dear prst,

We are trying to catch bottom. Draw horizontal S/R lines and it comes at 345/358...in process need to hold that 332 level.

 

[Riskyman]

Dear prst,

We are trying to catch bottom. Draw horizontal S/R lines and it comes at 345/358...in process need to hold that 332 level.

Anil ji, Always been a fan of this thread. Nice work

 

[raul12]

On weekly its in downtrend, monthly close below 340 will pose threat to this long term uptrend.

Looking at long term TL support, its good to hold for bulls to eye higher, else this time not good for bulls. With prices peaking higher & higher for 2014-2015, momentum not in good stride here, indicating a lack of bulls enthusiasm to take price higher. So its a caution here for those holding longs.

Regaining 350 is first sign of strength and moving above 365 will add another tick of strength...

Anil Ji,

Considering the above line in bold, are you referring to the bearish divergence in price & RSI?

I have this doubt because ideally a trader whose trading the trend line bounce in ITC would like to see RSI being less than 50 as he's going long.