Charts for the Day

[ravi2126]

anil ji,

BEML chart analysis pls,for study purpose..
In daily,every fall catch low volume n below 50sma,
pls also draw trendline,as i want to compare with my study,
As i m seeing in longer time frame supports comes near 800..
As i dont know how to save charts from "tradingview.com" i cant post it here

 

[amitrandive]

anil ji,

BEML chart analysis pls,for study purpose..
In daily,every fall catch low volume n below 50sma,
pls also draw trendline,as i want to compare with my study,
As i m seeing in longer time frame supports comes near 800..
As i dont know how to save charts from "tradingview.com" i cant post it here

 

[anil_s_trivedi]

anil ji,

BEML chart analysis pls,for study purpose..
In daily,every fall catch low volume n below 50sma,
pls also draw trendline,as i want to compare with my study,
As i m seeing in longer time frame supports comes near 800..
As i dont know how to save charts from "tradingview.com" i cant post it here

BEML is in downtrend on higher timeframe as well... a good support coming in at 800-10 zone...as rightly identified by you...

Below that 750/650 are only prominent support levels in sight as of now...

This falling leg is witnessing below avg volumes...means selling pressure is going low as of now...

 

[anil_s_trivedi]

Cipla in downtrend...a good support coming in at 465-475 zone...keep watching it...
Stock...

 

[ravi2126]

Anij'ji,
by following you i m improving day by day,thanx..
today take entry in "mothersumi" on hour time frame @ 161.90
today on daily its form bullish candle should v consider trendline support candle n also cross 50SMA with volume..Now question is that what should b my target?
trendline upper portion?
trendline i draw is right ?

 

[ravi2126]

One more query is there any significance of 50SMA CROSSING 200SMA ?

 

[anil_s_trivedi]

Anij'ji,
by following you i m improving day by day,thanx..
today take entry in "mothersumi" on hour time frame @ 161.90
today on daily its form bullish candle should v consider trendline support candle n also cross 50SMA with volume..Now question is that what should b my target?
trendline upper portion?
trendline i draw is right ?

One more query is there any significance of 50SMA CROSSING 200SMA ?

Dear raviji,

Thanks for your kind words...

Your entry is at @261.9...

I suppose your premise is candle pattern at trendline support...I had attached chart and shown valid TLs for me...

I dont trade candle patterns...earlier i used to...but now price action is more involved for me...

Right now the price tested 300 zone a intermediate term s/r zone, from there on selling was above average...so a little bit of suspect here...Yesterday price shown support at 255-56 zone, there was indeed a support at 250-52...

The price can test 270-72, strength can be seen above this only in short term on daily charts...

On weekly charts 250-255 is good support zone...weak below this zone...

Upside expectation can be 270-72 / 278 / 295-300

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

50 sma and 200 sma are used by institutions...but they dont trade on levels, they see it as shift in action..i mean price going above 50 sma tells the past 50 day trading activity is showing some strength coming in...so it have merit to look into the scrip...

I use 20/50/100 EMAs for trading purpose...

 

[ravi2126]

Dear Ravi,

L&T is in uptrend on daily and weekly...On weekly formed good swing pivot at 1170-80 zone...so this is important going forward...

As short term and intermediate -ve divergence build up, stock can go sideways to down...On closing below 1240 can test 1200 zone...Only on closing weekly below 1200 can have some meaningful correction...

Ideally if stock is in 'strong' uptrend then bulls will be ok till 1240-25...They will hold 1220 too...else it can have deeper correction till 1170-80 zone...Where there is a crucial support zone...

Om intermediate charts, i see rise till 1450-1500 zone...It may be over few weeks to months...

Anil 'ji rocks...:clap:
whats ur view now...

 

[anil_s_trivedi]

Anil 'ji rocks...:clap:
whats ur view now...

Dear Raviji,

L&T done its intermediate zone of 1450(Todays high 1448)...Ideally it can go for 1480 or so...

Now above 1450 its a minefield area from 1480 till 1500...as seen from weekly charts its a crucial S/R zone...and price on higher timeframe will be comfortable above this only...

 

[t2t]

Anil 'ji rocks...:clap:
whats ur view now...

Dear Anil Sir,

Your analysis on stocks & index is really giving a good insight on how to look at chart from weekly, daily & hourly perspective. Thanks for educating with superb explanations.

I have a query, as in this chart of LT, daily was in uptrend nearing a good support level, if at that support we get above average volume & stock moving up on hourly chart, can we buy with SL below that support level.

I don't expect this LT like move (which happened today) , but can one expect a good move at such chart position?

Thanks once again.