Charts for the Day

[anil_s_trivedi]

Hi Anil,

Thanks for the reply...

I bought RCOM future @79, now its closed @81.5 on friday. What targets we can expect in this week ?

Dear Sudhakar,

Expecting time wise target is difficult. Although you can have S/R based levels, but will it achieved in current week or take some weeks is all depend on market.

I prefer to trail in such conditions. For hourly closing below 80.2 on spot not good as of now.You can trail on hourly basis or have 5min chart and trail it.

 

[anil_s_trivedi]

Dear Amrutaji,

RS software is in downtrend, as seen from weekly charts. It resisted along supply line continuously. The solace for this stock is holding 50 SMA on daily with volume action.

Ideally you can play here in two ways. First break of downtrend supply line with volume but that can attend only on break of 176-177 zone. So you need stoploss accordingly there.

Second is initiating position around 50 SMA on daily near to 150 levels. But mind you support coming in at only near to 135-142 zone.

I generally stay away from such stocks in downtrend, unless i see great accumulation in it. Also for stock in downtrend, i go for half my position size.

This is what happens stock in downtrend...difficult to have levels...but when everybody throws the towel...game of institutions begin...

 

[ampa]

Hi Anilji,

Can you please share your analysis for MAN Industries?


Thanks
Amruta

 

[anil_s_trivedi]

Hi Anilji,

Can you please share your analysis for MAN Industries?


Thanks
Amruta

Dear Amrutaji,

Man Industries in uptrend, stock in a big triangle trading above its upper half, thats positive as long it holds support region of 80-82. That is the same levels where 200 SMA is also there. So take it as important one.

In near short term, treat 94 as support zone on closing basis. If stocks breaks 94 on closing basis and bounce it backs above it, treat it as positive reversal for upside on cards soon.

 

[ravi2126]

Anil'ji can u pls share your view n analysis on "elecon engineering"

 

[deadbrain]

Failed to atta h.

 

[Raghuveer]

Failed to atta h.

See signature of timepass to attach images.

 

[anil_s_trivedi]

Anil'ji can u pls share your view n analysis on "elecon engineering"

Dear Ravi,

Elecon is in uptrend moving on weekly with HH-HL. Crucial levels S/R wise is 71.5-72.5 zone as indicated on both charts.

A resistance zone at 100, overcoming it can target higher.

Momentum wise, stock looking good, but retracement towards support need to be bought into with SL below 68-69 levels.

 

[anil_s_trivedi]

Dear Sureshji,

Aurobindo pharma is in secular uptrend. Stock consolidating and moving consistently higher. Stock mostly making flats and symmetrical triangles in consolidation patterns.

Right now it resisted below 50 SMA, but yesterdays volume move above 50 SMA is good sign price action wise.

A Simple analysis tells us break of 6-month support line(daily chart) will put intermediate trend to risk. And its a sign of caution for long term investor.

Momentum wise stock is not in good shape in weekly. As regular readers know, stock if made four bases in weekly in its uptrend its a risky proposition then to latch it on current trend. As it is subjected to over extended run in the stock. Daily momentum telling us it has potential to clear higher levels, but it needed to sustain 750 levels. I will be cautious if stock closes below 695 levels.These 695 levels is also coming from that lower trendline support, so take its as a crucial one.

So plan in short is, if long trail with levels mentioned. And be on alert as stock is slowly overextending its run. Any reversal day on stock should alert you. IF want to go long here, your stoploss again will come at 695 on closing basis.

 

[anil_s_trivedi]

What next for this scrip ?

Dear Timepass ji,

Dont have answer where it will stop. The point to posting was many have gone long into upper levels on retracement basis or S/R levels, but stock relentlessly moving down. Although yesterdays was a reversal bar with above average volume so hope for bulls around here.

Yesterday it opened gap down and closes above previous days close.