Charts for the Day

[anil_s_trivedi]

L&T (CMP:1132.5) looking good for the moment, although in steep downtrend. For short term good trade looking at price action.

A steady upmove above 1150-55 levels, see support at 1095-1100 zone...

 

[anil_s_trivedi]

Another turn from 1149.85...

 

[rangarajan]

anil Trivedi,

Combining T Line, Stochastic, ADX & Fibonacci, my prediction is that in coming days SBI will breach 171 for a Tgt of 155/134, but not immediately.

Why, it is still O/S weekly , Bank nifty gaining strength.

The Resistences are upto 209 & when i short on Retracement, my S/L will be 220.

The strategy was same as was applied to Coal India & Hindunilvr.

The only disturbing factor is increase in Vol last week & candle closing on the upper region.

So, either i enter very near fib 62% weekly retrace or on breach of 171.

My confidence level goes up from what i learnt from yr thread recently to take more realistic decision.

Todays Low 160 & continuously falling on breach of 171.
Tomorrow perhaps 155 on cards.

This is the result of O/Sold Stochastic more than 5 bars.

I take Pivot to Pivot for calculating Fibonacci extn.

Invariably i have seen that if Pull back is upto 62-78%, 162% extn is much possibility.
Otherwise 127% which is the case with SBI.

But in Weekly, it is still in O/S & it has to come out before going down again as per weekly Low to be formed in coming days..

But anil Trivedi, there was NO Vol expansion on 20/1 when Low was made & still stock fell. Can u pl discuss yr tech .

i traded with Stoch , & on Pull back with Reversal/Bar.

For a Scalper who wanted to go Long, could have used yr Strategy of Rev bar at extremes with Fib tgt.
5% profit on Long in 2days, none could grudge.

One more anil Trivedi

Your MACD guidance when T/Line or Pivot swing is broken, works excellently & i can post many charts in Support.
With this strategy, one can confidently take position.

 

[anil_s_trivedi]

Todays Low 160 & continuously falling on breach of 171.
Tomorrow perhaps 155 on cards.

This is the result of O/Sold Stochastic more than 5 bars.

I take Pivot to Pivot for calculating Fibonacci extn.

Invariably i have seen that if Pull back is upto 62-78%, 162% extn is much possibility.
Otherwise 127% which is the case with SBI.

But in Weekly, it is still in O/S & it has to come out before going down again as per weekly Low to be formed in coming days..

But anil Trivedi, there was NO Vol expansion on 20/1 when Low was made & still stock fell. Can u pl discuss yr tech .

i traded with Stoch , & on Pull back with Reversal/Bar.

For a Scalper who wanted to go Long, could have used yr Strategy of Rev bar at extremes with Fib tgt.
5% profit on Long in 2days, none could grudge.

One more anil Trivedi

Your MACD guidance when T/Line or Pivot swing is broken, works excellently & i can post many charts in Support.
With this strategy, one can confidently take position.

 

[anil_s_trivedi]

Todays Low 160 & continuously falling on breach of 171.
Tomorrow perhaps 155 on cards.

This is the result of O/Sold Stochastic more than 5 bars.

I take Pivot to Pivot for calculating Fibonacci extn.

Invariably i have seen that if Pull back is upto 62-78%, 162% extn is much possibility.
Otherwise 127% which is the case with SBI.

But in Weekly, it is still in O/S & it has to come out before going down again as per weekly Low to be formed in coming days..

But anil Trivedi, there was NO Vol expansion on 20/1 when Low was made & still stock fell. Can u pl discuss yr tech .

i traded with Stoch , & on Pull back with Reversal/Bar.

For a Scalper who wanted to go Long, could have used yr Strategy of Rev bar at extremes with Fib tgt.
5% profit on Long in 2days, none could grudge.

One more anil Trivedi

Your MACD guidance when T/Line or Pivot swing is broken, works excellently & i can post many charts in Support.
With this strategy, one can confidently take position.

Dear Rangarajan,

On that day we felt, there is lack of selling going on and its not getting result as per efforts putting in. It means if you are getting higher selling volume on down bar you expect a significant fall in price on that bar and its effects there after...but its missing on hourly on that day.

While coming to daily chart, it is looking like a down bar with above average volume. For better bottoms i want atleast volume below average on retesting the bottom. As it indicates lack of sellers enthusiasm to sell there. And lack of selling result in price refusing to fall further.

On bounce it tested the earlier sell off zone of 188-190, it got resisted and again move down with above average volumes, in result we break the low of 20/1/16...

yesterday on EOD was a outside bar again negative. But sustaining above such outside bar is positive, if at all yeterday was a great sell bar, price should restrict it movement below its high.

 

[anil_s_trivedi]

 

[anil_s_trivedi]

CMP: 970

Reliance Industries sustaining below 960 mark not good for its health...

 

[amitrandive]

CMP: 970

Reliance Industries sustaining below 960 mark not good for its health...

Again not able to clear 1200 levels convincingly , must have fooled investors again who bought it saying "This time it is different".

http://www.traderji.com/technical-a...igh-probability-breakouts-31.html#post1128438

 

[anil_s_trivedi]

 

[amitrandive]

Anil Sir

Do you use this parameter(240-60 days high low) only for Reliance or for all other Stocks and Indices also ?