Charts for the Day

[anil_s_trivedi]

 

[atulharkut]

dear anil sir

if possible..kindly analyse axis bank

tnx

 

[anil_s_trivedi]

Posting some charts of potential breakouts from Resistance trendlines and currently retesting of the same trendlines going on. Its not a advice to go and trade these stocks, but pattern which i observed. Some have clean breakout, some hovering around.

Stocks are, Sintex, HDFCBANK, KOtakNahindra Bank, axis bank and MTeducare....there are many still, but these are few...observe how breakout is fake or a real one...Just track it for learning purpose.

 

[anil_s_trivedi]

dear anil sir

if possible..kindly analyse axis bank

tnx

Dear Atulji,

Yaar sir mat bolo...bahut sophisticated ho jata hai...

For short term:
Weak below if daily closes below 582, will test 565 zone...

For Intermediate Term:
Long attempts closer to 560-565 with small SL...if trade fails, it may test...530 zone...

Right now, intermediate term momentum capping short term rise...so until it turns up...stock will consolidate...

On daily sign of strength will be closing above 600 levels...and breaching high of that closing bar will add upside strength...

 

[anilnegi]

Anil ji

in some of your above chart you have not extend upper trendline thru 2nd and third top, is it not necessary????

i attached a chart for this, if we extend our line thru these top we could not get the desired result..

thanks

 

[anil_s_trivedi]

Anil ji

in some of your above chart you have not extend upper trendline thru 2nd and third top, is it not necessary????

i attached a chart for this, if we extend our line thru these top we could not get the desired result..

thanks

Dear anilji,

You are right that was not actual trendline to be draw. The trade was actually a tracking i am doing on in HDFc bank...

I posted detailed chart, where the actual trendlines is drawn, but since we missed/avoided those points to go long, and in our tracking we found, the suitable point to go long...

Hope the above picture makes it clear, why i gone long there...

Have a nice weekend....

 

[anil_s_trivedi]

Arvind a case of breakout and retest going on.

I am not recommending this scrip, just to analyse how it works out...

 

[nitingosavi]

sir can u post SBI letast chart with analysis ? plz

 

[anil_s_trivedi]

sir can u post SBI letast chart with analysis ? plz

Dear Nitinji,

SBI is in uptrend on long term charts, going through intermediate correction. The only concern is the point where it started falling from its can be labelled safely as a double top on weekly and monthly charts, and that is scary.

On weekly the band of 245-252 is a support zone, below that more selling can be seen.

On lower timeframes, the current fall be due to overbought readings and how it reacts near support will tell whats in store.

If i want to go long, i will wait for price to test 270-272 zone to ascertain the nature of rise from here. Else the falling can continue well.

On relative strength vs nifty, stock is weak candidate from weekly as well as on daily.

 

[anil_s_trivedi]

Dear nitinji,

Tatasteel on weekly timeframe is in downtrend, looking at pattern wise it seems to be in a potential symmetrical triangle formation. The natural support line of triangle coming around 220-230 zone. Although its a pattern formation price may or may not correct upto there. Remember this is a long term view.

Coming on daily charts, price are in downtrend trading into a channel running from since July 2014, after prices correcting forming a double top. A short term channel got broken recently, alongwith midline of major channel. So stock exhibited a short term sign of strength here.

Looking at daily closing yesterday, stock gained ground closing above 305-307 resistance zone. A positive momentum divergence also formed and stock moving up, overcoming 316 levels will provide impetus to rise till 322-330 levels. A good sign as of now. is momentum seems to be bottoming in short term.

A case of weakness settles once stock closes below 300-303 levels. Till then its a pure divergence play here.