Charts for the Day

[anil_s_trivedi]

Dear anilji,
Where can entry if we followed it yesterday?Looking @lower tf above the trend line?Or @bo?

Vjay ji,

There is a low volume pullback, it was a sign of stock heading higher...Although going on hourly timeframe too, i am seeing entry only on yesterdays breakout day above trendline resistance of 5-months long...

For intermediate trader like me, aggressive entry is already on radar when stock holds 50 SMA and pullbacks on lower volumes...

 

[insursi]

I hope followers of this thread holding ONGC still.....great going sofar..

 

[anil_s_trivedi]

I hope followers of this thread holding ONGC still.....great going sofar..

I am holding it....its all thanks to amrutaji....atleast from my side...

 

[anil_s_trivedi]

 

[anil_s_trivedi]

Hindalco sustaining below 155-157 not good in intermediate term...The gap down with volumes on 12th september and there by a flag formation points to weakness...

Momentum is also seems to be slowly shifting for bears case here...

For strength it will have good rally above 155-157 only...

 

[anil_s_trivedi]

JSW Steel almost a similar structure going on...volumes on down bars coming in since past 5 trading days..that too above average volumes...

 

[ampa]

Anilji,

I am also holding ONGC and lucky that there will be some bonus announcement this Friday.

Share tour opinion what's the possible target we one should book profit?

I am thinking it can go upto 345-360.


Regards
Amruta

 

[anil_s_trivedi]

Anilji,

I am also holding ONGC and lucky that there will be some bonus announcement this Friday.

Share tour opinion what's the possible target we one should book profit?

I am thinking it can go upto 345-360.


Regards
Amruta

Amrutaji,

Yes going from weekly chart, the resistance clearly coming in from 345-360 zone...right on spot...but i am a trend follower, so i will be cautious but will trail it as long as price supports trend...

Yesterdays above avg down bar is an indication of some profit booking done by investors before the event...

Q2 results coming in tomorrow thursday, the same bonus issue will be discussed on same day...

 

[VJAY]

 

[ampa]

Hi Anilji,

When you mentioned - "Above avg down bar" means volume is above average and close is lower than open - am I right?

Also can you suggest a good book on how to interpret volume correctly with the price action?

Thanks
Amruta