Charts for the Day

[ravi2126]

Anil'ji your view on GSFC pls...as i m seeing reaching near res zone...

 

[vagar11]

Anil Sir,

Your views on Lovable. Stock is forming higher highs and higher lows on weekly.

 

[anil_s_trivedi]

Anil'ji your view on GSFC pls...as i m seeing reaching near res zone...

Dear raviji,

Rightly said, stock is closer to Resistance zone of 86.5-88...

A huge vol bar on 13th may...i usually get alert if such huge volumes occurs near to resistance zone...

Stock need to do cool down then it can be considered for further upmove...

By the way trend going too string here...relentless run from 12 feb lows...

 

[anil_s_trivedi]

Anil Sir,

Your views on Lovable. Stock is forming higher highs and higher lows on weekly.

Dear Vagar11,

Yes stock is undergoing a basing and a trendline breakout from july highs can test 265 zone...above 265 good prospect for this one...

Anybody want to go long keep stoploss of 238-245 zone...Below this zone, i will avoid it...

Upside resistance to test are 265/270/275...

 

[ravi2126]

dear raviji,

rightly said, stock is closer to resistance zone of 86.5-88...

A huge vol bar on 13th may...i usually get alert if such huge volumes occurs near to resistance zone

what type of alert sir?
N what if same occurs near support?

 

[ravi2126]

Dear Raviji,

FSL is in uptrend...Initiating position here is somewhat in the middle...ideal zone was when price breaks or retest some good patterns/Trendlines...

Immediate expectation from stock as mentioned

As you say 38 is support today is almost breaks 37.70
Should I wait for follow up or consider as retest of support line

 

[anil_s_trivedi]

Zee....Wipro...Voltas....UPL...

Readers should note that, i am not recommending this stocks, this is just a observational charts marking key zones of S/R on chart...And better be prepared if opportunity lap up at desire zones...Also with result season coming in, mind you this levels are valid throughout month...

This S/R zones are marked on daily charts, so ideally its importance is more to positional investor/trader...Day traders trying to enter should only enter on key zones marked...

Many stocks have done their intermediate s/R levels...
The zero in charts is the day when charts been posted with observations...

 

[anil_s_trivedi]

As you say 38 is support today is almost breaks 37.70
Should I wait for follow up or consider as retest of support line

Dear Raviji,

Stock breached 38 zone...Better to watch here dont jump...Stock broken key level, if more weakness it can test towards 35-36 zone...

Else it will over around here, between 36.2 - 37.3 zone...

I dont jump in, unless key support zone is there...else i wait proper consolidation to form, then it gives some clues whats going on...if low volume consolidation going on with some pattern formation, it can be tradeable...

Now strength on daily basis if closing above 41 level...

Remember its a daily strength level, hourly will come somewhat earlier may be at 38.5 zone...

 

[anil_s_trivedi]

what type of alert sir?
N what if same occurs near support?

If one sees huge volume on up bar(Bull bar) and its closer to key S/R level, it generally implies someone has taken exit at near to that crucial zone...

Similarly, if one sees huge volume in downtrend on red bar near to crucial zone, it may be come under climax bar..so it alerts, selling is overdone and now time to bounce...

 

[anil_s_trivedi]

HDFC bank today formed a reversal bar...although not a stringent one, as it requires open above previous days high...but still it add relevance here...

Anyways longs be cautious now...