Charts for the Day

rahulmalik

You only lose what you cling to.


Tech Mahindra after having relentless run showing some sign of intermediate distribution. Stock formed a H&S top and got a broken neckline and retesting going on.

Possible lower tgts will be 490-500 zone. For any sign of strength watch neck line, if sustains good. Levels to watch are 630 / 645-650 / 700.
Dear Anil, I request you to share the latest Nifty chart as well.

Thank you in advance
 


CAPF on weekly having -ve divergence setup underway, Stock tried to clear 440-445 resistance levels since 2015 start but getting sold off.
The break in uptrend support line running since Oct-2014 will put doubt over the rise and should alert investor here.

Until stock shows some bottoming signs on daily better to stay away here...
 






Silver showing some sign of accumulation as supply zones on daily charts are slowly overcoming. Watch trendlines S/R so that near term Tgt zones can be seen.

Reason for silver coverage is, weekly momentum oscillators are coming up from deep slumber, this indicates buying interest coming in.
 




Coal India, a coal mining company, looking like a possible accumulation phase, and readying for a upmove. Prices just crossed 100 ema here, and Oscillators are rising mode.
Minimum price objective in short term shown, where earlier rallies got failed to overcome, intermediate term trade will accompany on breakout only.
Looking at big triangle consolidation patterns, breakout can be furious here. So keep it under watch...
 


SBI a leader among PSU banks, broken yesterday the year long neckline of possible H&S pattern. Today stock got just breached yestedays lows, and got a close above yesterdays close. So a control gained over short term, to arrest the fall.

Momentum setup are all sitting on weak structure, so a caution warranted here for any rise till neckline, to be on safe side, a sustaining action above 260-65 will be good entry point to enter stock. Till then watch the game here...
 

sunny_cool

Well-Known Member
@Kainiteh The main purpose of this thread is to see Anil bhai's view on medium to long term charts & your focus in on intraday scalp trades.... & you are doing great job...It would be really nice if you start your own thread so that flow of this thread will be intact

Note : No intension to discourage you...you are doing good job & keep it up
 

kainiteh

Well-Known Member
@Kainiteh The main purpose of this thread is to see Anil bhai's view on medium to long term charts & your focus in on intraday scalp trades.... & you are doing great job...It would be really nice if you start your own thread so that flow of this thread will be intact

Note : No intension to discourage you...you are doing good job & keep it up
Sorry for Interference in this thread, Now my posts are deleted. Thanks to Moderator for accepting my request.