Charts for the Day

[faizal]

:clapping:Nice analysis

 

[saravkarun]

Dear nitinji,

Dr Reddy is in secular uptrend. The key levels to watch are shown on chart with explanations. Remember for trend to mature, either it will end the parabolic move with steepfall or you should be on alert when stock is rising on after third or fourth base on your timeframe. For ex; four bases on weekly got complete indicated any rise from hereon will or can be a trigger for trend reversal. Stock cant rise till eternity.

We as a trend follower only needs to latch on the trend with key reversal in hand.

For extreme short term on daily, i will be on alert if stock closes below 4130 levels, it can test 3900 zone.

The stock has bounced back from 3900 level...Great analysis sir....

 

[ravi2126]

Anil'ji can u PLS post ur analysis on ASHOK LEYLAND...

 

[anil_s_trivedi]

Anil'ji can u PLS post ur analysis on ASHOK LEYLAND...

Dear Ravi,

sorry for late reply. Ashok LEyland is in secular uptrend. Price as of not shows any prominent weakness on weekly charts. Prices are in long term channel uptrend and likely upward resisted action shows on charts.

Looking closely as daily, prices got bounced off from 50 DMA on good volumes implying investors getting in looking at R:R.

Momentum weakness prompted a correction on charts and it falls till 78 levels. Until higher timeframe shows momentum topping sign prices locked in uptrend. I will be cautious if prices fell below 80 and sustain.

The problem with such stocks is trying to get in, one should wait for proper consolidation to form before committing money to such stocks in uptrend.

 

[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...

ITC the day we analysed stock 14th march, stock corrected that month and also closed below 340 zone. Now thing to watch is the rally afterwards, it did test 350 but failed to touch 365 and falling since then.

So this is how higher timeframe charts behave when it got weakens, it will have relief rally or rather distribution leg, where retail suck in and lap shares and then the higher timeframe weakness spread all over.

Point of analysis, is you should have atleast intermediate term outlook for your stock. And analyse behaviour it will be a good learning for you.

 

[kaly422000]

in serch of some scrips which can give dead cat bounce or got a support for the time being and expect some upside if market help.

have seen castrolindia , its a double bottom and may creat a right shoulder of a h&s pattern.
rest is for expert here

 

[nitingosavi]

Anil Sir,
If we skip High/lows and just used closing basis charts.. line or line with dots..
will it help.. ? actually I am confused here.

I dont trust closing basis s/l because it can be anything below "xyz" close, far below or just above..and u cant take decision till 3.20-3.25 PM. I want to overcome this confusion.

 

[nh.ar114]

Greetings!

I am pursuing my PhD in the area of “Investors’ Behaviour and strategies in Bull and Bear Phases of Stock Market: and would like your precious opinion on the same.

Kindly spare few minutes to fill the questionnaire: http://goo.gl/forms/tGFUQXhTgc

Your kind cooperation is solicited for eliciting the required information. I assure you that the information furnished here in would be kept strictly confidential and would be used for academic research only.
I would be grateful if you could spare some time from your busy schedule for the same

Thanks & regards,
nh.ar114

 

[anil_s_trivedi]

Anil Sir,
If we skip High/lows and just used closing basis charts.. line or line with dots..
will it help.. ? actually I am confused here.

I dont trust closing basis s/l because it can be anything below "xyz" close, far below or just above..and u cant take decision till 3.20-3.25 PM. I want to overcome this confusion.

Dear Nitinji,

Its purely traders own decision to use line charts or high-low charts. Many think intraday breakouts/breakdowns from trendline not good one and want comfort so they use SL on closing basis. Many former traders want a single bar outside that TL break to take positions or windup.

I previously used a percentage from TL to assess breakout is to be taken or not. These percentage is from volatility side. So percentage is fixed but if chart has high volatility then SL tend to be adjusted accordingly.

 

[anil_s_trivedi]

Greetings!

I am pursuing my PhD in the area of “Investors’ Behaviour and strategies in Bull and Bear Phases of Stock Market: and would like your precious opinion on the same.

Kindly spare few minutes to fill the questionnaire: http://goo.gl/forms/tGFUQXhTgc

Your kind cooperation is solicited for eliciting the required information. I assure you that the information furnished here in would be kept strictly confidential and would be used for academic research only.
I would be grateful if you could spare some time from your busy schedule for the same

Thanks & regards,
nh.ar114

Dear Friend,

You are new member, and initiating survey and posting link in these forum. Please take prior permission of moderator to use outside links here.

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