Charts for the Day

[rangarajan]

anil Trivedi,

Thanks for the chart.

I am posting below yr chart with some marking.

My doubt is while u have taken HH3 as tgt, why not HH4.
Both were below TL, both HH pivots, HH4 also colud have acted as Sup.

Yr rely was very helpful in my intraday today

Is it also not possible that stock could have consolidated below TL w/o coming down to the tgt
& also gone up above the Highest breaching the T/L connecting the Highs.

If possible, what would have been yr S/L

 

[anil_s_trivedi]

anil Trivedi,

Thanks for the chart.

I am posting below yr chart with some marking.

My doubt is while u have taken HH3 as tgt, why not HH4.
Both were below TL, both HH pivots, HH4 also colud have acted as Sup.

Yr rely was very helpful in my intraday today

Is it also not possible that stock could have consolidated below TL w/o coming down to the tgt
& also gone up above the Highest breaching the T/L connecting the Highs.

If possible, what would have been yr S/L

Ideally first point of test after market makes higher high on 1st jan was to test HH4, immediate low. But the way market opened gap down and refrain from holding , it would be a failure of bears if it holded that 7890 region.

Also,if you seen this thread and my other charts for the day thread, i consider 50 SMA as additional moving average confirmation tool. On the same day 50 SMA was around 7902, and once market breaks it , its always difficult to hold it.


Is it also not possible that stock could have consolidated below TL w/o coming down to the tgt
& also gone up above the Highest breaching the T/L connecting the Highs.

- Exactly that is possible and i always highlight that scenario. Regular readers know here. If market breached that trendline and gone sideways, that itself is a sign of strength, that bulls dont want to loose their grip on it.
And this is i always discussed, many trade negative divergence on indicators, and go short. But little they understand, about strength/weakness going around.

IF market has strength in uptrend, then -ve div on oscillators/momentum indicators will just cool down, while price corrects itself going sideways to marginal down. In such a scenario, oscillators come to oversold region, without much correction in price, indicating the sideways action and cooling down of momentum, to charge itself for next higher leg.

 

[rangarajan]

And this is i always discussed, many trade negative divergence on indicators, and go short. But little they understand, about strength/weakness going around.

IF market has strength in uptrend, then -ve div on oscillators/momentum indicators will just cool down, while price corrects itself going sideways to marginal down. In such a scenario, oscillators come to oversold region, without much correction in price, indicating the sideways action and cooling down of momentum, to charge itself for next higher leg.

anil Trivedi,

Excellent.
Gives me more confidence.

What you are talking about is Hidden Positive Divergence which is Bullish.

I recall, Smart had discussed extensively on this in his thread.

Look forward to more from u.

I am watching yr strategy in Kwality which i feel is bullish but breached TL today in 5tf.
If my prediction comes true, i will post the chart in coming days with reason.

 

[ampa]

Hi Anilji,

Can you please share the comparison of different sectors?


Thanks
Amruta

 

[anil_s_trivedi]

Hi Anilji,

Can you please share the comparison of different sectors?


Thanks
Amruta

BSE AUTO:

Monthly is yet to give sell signal. Weekly in Sell mode. Momentum wise, any rallies will get into sold into. safe above 18200 only.

Below 16700-800 more weakness will creep in auto.

BSE BANKEX:

Monthly sell, weekly sell,daily sell...
Momentum wise, sideways to down...


BSE Capital Goods:

One of sectors where, more of selling brunt by this sector. I would love to see bottom formation in this sector, going forward, its purely on momentum oversold basis. Price action still in progress...

BSE Consumer Durables:

Monthly buy, Weekly Sell..daily sell mode...It means Higher timeframe in buy mode, so its best to buy once index tests 11700 levels...
Breaking thiss can test lower till 11300 levels...

BSE FMCG:

Monthly sideways, weekly sell...daily sell mode...
Momentum wise, stay selective in this sector...

BSE HC:

Monthly Sell, Weekly sell, daily sell...
Momentum wise, i am bearish on this sector. A lot of overrun already done here...Any rally here is likely sold into...

BSE IT:

A weak close resulted into sell on rallies here, a repeated rallies failing into...stay selective if going long...

BSE Metal:

This is one where we nail it earlier, when momentum got improved and we got good sector longs into...

On daily a good momentum being playing out here. Again due to overhead debts in this industry, stay selective here also...

BSE Oil&Gas:

Stay positive as long as 9250-9300 being supportive.


BSE Power:

Again good longs here, on fall try to get foot into here...


BSE Realty:

Strength above 1370 levels...Support at 1280 zone, if sustains below this...more levels will come into...

-----------------------------

2016 started on a dicey note , be selective in stocks, as i am scanning into, lot of stocks seems to be in weakness mode still...While some from same sector may outperform...

 

[rangarajan]

anil Trivedi,

Can u pl analyse Coalindia in chart & offer yr comments for Buy or Sell as of today.

it is having good divident yield & the BC is around end Jan.

Cmp is 321 & my prediction is 300 is not ruled out
MACD, Stochastic, ADX are discouraging for Buy.
But on 60TF, it has traded above TL.

I would like to learn how u analyse.

 

[ampa]

Hi Anilji,

How can I plot this chart - is it relative performance in comparison to Nifty?

And which dat service are you using to get EOD charts?


Please advise.

Thanks
Amruta

 

[amitrandive]

AnilJi

Any reason you follow BSE Indices rather than NSE Indices ?

 

[anil_s_trivedi]

anil Trivedi,

Can u pl analyse Coalindia in chart & offer yr comments for Buy or Sell as of today.

it is having good divident yield & the BC is around end Jan.

Cmp is 321 & my prediction is 300 is not ruled out
MACD, Stochastic, ADX are discouraging for Buy.
But on 60TF, it has traded above TL.

I would like to learn how u analyse.

Coal India is a sideways since inception. Going sideways to down since past 3-4 months...
Crucial S/R levels marked on chart. On hourly charts see strength coming in after a cross of 325-326 levels...

Momentum wise, stock exhibiting good positive divergence coming in on intermediate as well a short term timeframe. so a bounce is due...but price action needs to confirm it...

For very short term trader, a move above 318-320 can see a strength sign coming in...

Ideally for a long term investor trying to get into, i am positive in this stock only above 350 zone only with SL slightly below it.

 

[anil_s_trivedi]

Hi Anilji,

How can I plot this chart - is it relative performance in comparison to Nifty?

And which dat service are you using to get EOD charts?


Please advise.

Thanks
Amruta

Dear Amrutaji,

The chart is relative performance wrt Sensex...and all sectors are from BSE only...

I am not using any data service, i am manually updating my EOD with nse-Bhacopy...
For BSE indices, i manually copy-paste index values...