Charts for the Day

[rangarajan]

Anilji,
How about TATASTEEL...will this move downwards as I could see hanging man at the Res Zone and today big black candle...

Hullo karthik,

How are you.
Long time.

 

[karthik_sri]

Anilji,
How about TATASTEEL...will this move downwards as I could see hanging man at the Res Zone and today big black candle...

Hullo karthik,

How are you.
Long time.

Yes sir long time....am good how about you...

 

[karthik_sri]

BANKINDIA...waiting for a breakout!!! Narrow Triangle...

 

[anil_s_trivedi]

anil Trivedi,

can you pl offer yr analysis with charts reg Vesuvious & SMLISUZU when u find time.

i am also of the opinion that NTPC is worth buying on Retracement as it has breached 3 months high with vol & formed inverted h & S in weekly.

Dear Rangarajan,

Vesuvius & SML Isuzu analysis on charts. FOr NTPC it is showing some good sign. This scrip has failed many breakouts in past, lets see this time...I am into this scrip from 136 zone,still holding. Its for some long term action now. If this zone holds well. This 140 zone is important, as past resistance here only.

 

[anil_s_trivedi]

Anilji,
How about TATASTEEL...will this move downwards as I could see hanging man at the Res Zone and today big black candle...

Dear Karthik,

Analysis on chart...

 

[anil_s_trivedi]

BANKINDIA...waiting for a breakout!!! Narrow Triangle...

Dear KArthik,

Its in downtrend, but showing some sign of support here. LEts see , yes trading in a triangle and moving towards apeax so readying itself for a breakout...
115.65 is a good support zone here...Breaking 119.25-35 can see breakout on upside...

 

[rangarajan]

anil Trivedi,

T/U for yr analysis.

From my analysis, while i am bull on Vesuvius, SMLISU, i am bearish.
I have position in both & waiting for exit at SML.

On BOI, my opinion. On Dly, Stochastic O/Sold more than 5 bars with Strong Adx in down trend. Tgt to be < 113. Cmp 117.

 

[sabhlok_r]

Anil Bhai,

Pl share your views on relinfra. Approaching weekly resistance zone of 510-521 with good volumes. Daily charts also show uptrend from 300-310 zone.

 

[anil_s_trivedi]

Choosing a stock to trade is the difficult thing in Technical analysis, than Initiating position in it. Question hit in mind is, what is the universe of stocks you need to track. How to select good stocks in your universe. Each step need to be defined.

Or else, you will just hoping here & there in stocks , without getting desired results. I when started Technical analysis in 2003-04, as a novice, Just focussed on stocks trading above 200 SMA. Those are times i got good results. IN the years later, i deviated from that, and used almost many models and strategies. Now in the end, few years back, understood what i learned as a novice was easy strategy, but we hardly believe in easier things.

I now uses not exactly 200 SMA for selection, but surely my majority of stocks i have are in uptrend, offcourse its using MA only. And its a combination of MA's too. Very small amount i invest/trade based on stocks in downtrend. As for eyes it looks cheaper, and we are biased to found support here & there, but very difficult to pin-point. So thats why such adventures need to be restricted for lesser capital allocation.

Ride on trends, and yes never confuse yourself with someone else's analysis. He may be riding it for day or two, and you may be looking at the same chart for weeks ride. Both have different expectations and both can be right.

 

[rangarajan]

Well said.

I select stocks which have High dely to Vol traded.

Enter on retracement preferably at Fib levels.
I am a short tem swing trader & my tgt is 5-10% which is easily achieved in a Trending mkt.
I select only trending shares & my tools r Stochastic & Adx mainly.
If Adx dosent supp, i avoid.
No regrets till now since expectations are Low only.:lol: