Charts for the Day

[rangarajan]

Just dial:

A good volume on up bars in morning, although on fall from after 10:00 on 5mins volume diminishing...

For short term bottom catchers, few conditions are coming in...safe above 508-510...

Sustaining above 508-510 can augur for short term reversal here...

anil Trivedi,

Frankly , i couldnt understand what u r saying on Vol.

5 min vol Chart posted.
Even High vol bar at 9.4, did not close in upper region & so i left it.

But as u rightly mentioned , i was looking for a RB which came at RB1, satisfying yr analysis of close below previous bar close, short <510 & went upto 499.

Normally, i would have taken the Long at RB3, but as it did not close > previous Close, i left it.
Besides, i was not keen with Longs as my view was Bearish.
But vol was low on new Low price, matching exactly what u used to mention for Reverse trade.
Mind set did not favour me.

The only disappointment was that though stock closed below T/L & next candle opened below T/L ( again what u had said in yr analysis), stock did not go down.
But my short would have been below the 2nd candle only & hence no damage.

On the whole, i am saved of whipsaws combining yr strength.
Missed chances, no problem.

pl add yr comments.

 

[rangarajan]

anil Trivedi

I am Not optimistic.
O/Sold in one Hr & strong ADX for D/T, Suppt 479/459
Every pull back is shorting opportunity at Fib levels. ( 553.4/483)

Just Dial Gone with the wind.

Low today 470

 

[rangarajan]

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.

SBI, insolvent

low 152

 

[ravi2126]

anil ji, if any body want to pick good stocks in this falling market..what factors he must count? bcoz all stock is available in wholesale rate from peak..
for example -
xxx stock is above 200dma ...(good for portfolio)
your view pls

 

[anil_s_trivedi]

anil ji, if any body want to pick good stocks in this falling market..what factors he must count? bcoz all stock is available in wholesale rate from peak..
for example -
xxx stock is above 200dma ...(good for portfolio)
your view pls

Dear Raviji,

First as you said define good stocks...Increasing earnings with increasing PAT is simplest to focus if one doesnt understands anything...Now that increase factor may be anything 10-20% more the better...

My cash positions are Nil as of now...All my trades are for intraday/positional and in Nifty only...

Now, many stocks are available in wholesale rate rightly said, but if you trading it, have backup plan, stoploss if any...

Keep 7-8% max 10% for stocks stoploss and capital wise not more than 3-5% on single scrip...

Now technical part, catching here it means you are trying to pick bottom...it is risky...i too dont know, whether it will stop here or drift lower...Infact when i said let it break and sustain below 7240 region...many raised eyebrows...i have only 6600-6650 as crucial support on higher timeframes...It doesnt mean market needs to go there...It can have rally and can fall again...

So if you bottom picking play it safe, or else wait for some bottom formations on your favourite scrips on hourly/daily then go into it...atleast you will have technical level to put stoploss at...

Now, what is bottom...

After fall, when scrip/market try to reverse, it will be called fightback day...bulls need to succeed in it with good closing...it can have two-three good closes with sideways to up... after that it needs to break that range on upside with above average volumes...indicating the sideways was a necessary accumulation phase...for this launch... so you can enter either on this accumulation phase at lower supports or when it gets out of this accumulation range...

Volume wise, accumulation phase is nothing but below average volume areas with bulls bar coming in at supports every time...

 

[copypasteaee]

weekly pivot taken in NF, absolute treat to see this chart.

 

[anil_s_trivedi]

anil ji, if any body want to pick good stocks in this falling market..what factors he must count? bcoz all stock is available in wholesale rate from peak..
for example -
xxx stock is above 200dma ...(good for portfolio)
your view pls

If stock is above 200 SMA...keep swing lows as stoploss to avoid to trap in bigger fall...

 

[copypasteaee]

once DT in weekly starts, then it will not be soon that you see sustainable Uptrend. Let it fall then see which one is bouncing the most.

 

[durgesh]

I bought GMRInfra today at 11.2 with stop at 9.75 and blew through the stop . When i saw it after buying that it has printed a low of 9.75 and trading at 10.3 , i decided to cut my loss short

Was expecting a bottom in Nifty around 7145 and it blew through my stop at 7110.
Double whammy :console:

Need to stay out for a while.Bottom fishing not working.:annoyed:

 

[anil_s_trivedi]

anil ji, if any body want to pick good stocks in this falling market..what factors he must count? bcoz all stock is available in wholesale rate from peak..
for example -
xxx stock is above 200dma ...(good for portfolio)
your view pls

There is a saying in Hindi "Poot ke paon paalne mein hi nazar aa jaate hain" Which means you can figure out how your kid is going to turn up right when he is only an infant.

For stock markets, we had tool called Relative strength...

Stock with improving relative strength are first mover...so watch this space too...