Charts for the Day

[anil_s_trivedi]

Voltas

Voltas

 

[stoch]

Voltas

Why are you using this type of chart instead of candlesticks? They give much more information than other graphs in concise way: open, close, high, low values. I use candlesticks with Hotforex what about you? what is your broker?

 

[anil_s_trivedi]

Why are you using this type of chart instead of candlesticks? They give much more information than other graphs in concise way: open, close, high, low values. I use candlesticks with Hotforex what about you? what is your broker?

Dear friend,

I do use candlesticks, i am flexible with both...Also i dont look at out candlestick patterns now a days, just follow simple reversal patterns and key reversal pattern...thats it...Rest its there all in price...

 

[Sunnyraj]

Anil sir , i'm confused regarding volume analysis.

Bar by bar analysis is good, or should one look for series of bars like rally and decline with their corresponding volumes OR look for particular candlestick patterns like doji, bullish/bearish engulfing etc.

As far as volume analysis concerned,i do very basic analysis like looking for trendline breaks with volumes or any WRB with volumes ,and if there is a nice trending move on daily charts, i first confirm that are volumes rising. But i have no idea of bar by bar volume analysis.

Please guide.

 

[ravi2126]

Anil sir , i'm confused regarding volume analysis.

Bar by bar analysis is good, or should one look for series of bars like rally and decline with their corresponding volumes OR look for particular candlestick patterns like doji, bullish/bearish engulfing etc.

As far as volume analysis concerned,i do very basic analysis like looking for trendline breaks with volumes or any WRB with volumes ,and if there is a nice trending move on daily charts, i first confirm that are volumes rising. But i have no idea of bar by bar volume analysis.

Please guide.

same confusion...pls guide

 

[anil_s_trivedi]

Anil sir , i'm confused regarding volume analysis.

Bar by bar analysis is good, or should one look for series of bars like rally and decline with their corresponding volumes OR look for particular candlestick patterns like doji, bullish/bearish engulfing etc.

As far as volume analysis concerned,i do very basic analysis like looking for trendline breaks with volumes or any WRB with volumes ,and if there is a nice trending move on daily charts, i first confirm that are volumes rising. But i have no idea of bar by bar volume analysis.

Please guide.

same confusion...pls guide

Dear Sunnyraj, Ravi

What you are doing confirming TL break with volumes & confirming trend with volume is must. Its a good thing keep doing it.

I do bar by bar analysis more on Index in detailed way. Also i do on stocks for which i am committing sizeable money. What bar by bar analysis tells me is good closing with good volumes is good thing.

For ex: let us assume your stock rising by 3% or more thats a good thing but volumes is just below average that tells, something not right there. On the same line, if volume is above average a very good volume, and stock just closing 0-1% above previous day...whats it tell is, either accumulation/distribution going on, if we are in bottom or up. So you need to see on the lines what institutions are doing.
One thing you need to understand, institutions have volume, and their hand will be seen only through those volume bars with good closes.

I am not doing VPA type on analysis, thats not for me. I am just doing a surface analysis not scratching much into it.

 

[ampa]

Hi Anil,

Can you please review RPOWER - I have 2000 shares bought at Rs70.

Thanks
Amruta

 

[anil_s_trivedi]

Hi Anil,

Can you please review RPOWER - I have 2000 shares bought at Rs70.

Thanks
Amruta

Dear Amrutaji,

Reliance power is in downtrend. Stock making first attempt of overcoming steep selling with good accumulation pattern going on.

It overhead resistance of 50 SMA is on daily will give further clue. whether bulls have appetite to move higher.

I am seeing a huge +ve momentum divergence on daily, this is some good news for bulls.

Overcoming 40 levels, will hit 45 and then 52 in sight. Only above 52 your buying zone of 70 will have any chance.

The recent bounce is just a play of daily/weekly oversold zone. So stock need to show strength to drive this rally higher towards 45/52 zone.

Expect lower support at 35-36 a crucial one to hold now.

 

[anil_s_trivedi]

L&T is a leading stock on infra play in india and its one of leading stock on index too. Just studying the chart for weekend to see, what clues it has given for the fall.

As i always said, there is always some pattern formation going on whether stock is in accumulation or distribution. We had to track stock movements on daily basis to see, how stock moving howz its volume going on. There is always some clue.

For example, here it formed a excellent double top pattern on July when it tested highs of March but started to fall down. But its confirmation if we study chart closely we can get in august only. You can say it break trendline in july, but we know breaking a trendline is not a reversal, until it damages the price structure. so in august is tried to move above same trendline, but this time the same trendlines acted as a stiff resistance. The failure here is confirm the double top is happened and prices refusing to move up.

As i always said importance of 50 SMA to institutions, the same got broken in august and stock just gapping down with volumes greater than 50 days average, its a -ve sign...

So its a cautious sign to go long here, until there is some constructive pattern goes on in this consolidation area right now, better to stay away.

Any rally till 1640-75 will face stiff resistance.

 

[ampa]

Hi Anil,

What are the moving average values for the weekly chart in RPOWER analysis?

Also can you please review TATASTEEL?


Thanks
Amruta