Charts for the Day

[ravi2126]

MACD SUPPORT ON DAILY

 

[anil_s_trivedi]

MACD SUPPORT ON DAILY

That was hidden divergence..nice spot on...Prices still struggling to get hold off 10 SMA...upside will see resistance at 400-405....

Infact i will see this zone of 400-405 a great resistance zone for stock going forward...

On lower side a support at 345-350....

A great tussle in this zone going forward...As metal have fair amount of runup in 2016...almost doubling...2017 will be watchable space here...

 

[anil_s_trivedi]

Old traders always says its best to be cautious below 50 SMA and 200 SMA...Market is trading below them for a reason...dont be a hero....For long term investors, index is right now in caution stage, and once 200 sma starts asserting itself down it will be difficult for bulls...so bulls have limited time here to lift market up...

Short term trend is up with index holding 20 SMA...

Going by S/R levels, i am seeing a good support at 7975-8000....a break below this and bulls will have difficult time ahead...Mind you this zone will act on higher timeframe too...Dont believe it...see daily charts, place horizontal lines at 7975-8000...

 

[monkeybusiness]

Old traders always says its best to be cautious below 50 SMA and 200 SMA...Market is trading below them for a reason...dont be a hero....For long term investors, index is right now in caution stage, and once 200 sma starts asserting itself down it will be difficult for bulls...so bulls have limited time here to lift market up...

Short term trend is up with index holding 20 SMA...

Going by S/R levels, i am seeing a good support at 7975-8000....a break below this and bulls will have difficult time ahead...Mind you this zone will act on higher timeframe too...Dont believe it...see daily charts, place horizontal lines at 7975-8000...

Sir,

is it time to book profits and close portfolio?

 

[anil_s_trivedi]

Sir,

is it time to book profits and close portfolio?

Dear monkeybusiness,

I am holding just 4 scrips as of now. And each of them, is above 200 SMA...so i am long in them as long as they are holding it...

I never buy-sell scrips by going through Nifty chart. Individual stock charts have its own merit...

For past whole year or more, Nifty is just dilly-dallying, but if one have invested through midcaps they have last smile...Such is the run in those scrips...

But yes, if Index(nifty) is below 200 SMA, my position sizing is just below normal..What it used to be when index is above 200SMA...

 

[monkeybusiness]

Dear monkeybusiness,

I am holding just 4 scrips as of now. And each of them, is above 200 SMA...so i am long in them as long as they are holding it...

I never buy-sell scrips by going through Nifty chart. Individual stock charts have its own merit...

For past whole year or more, Nifty is just dilly-dallying, but if one have invested through midcaps they have last smile...Such is the run in those scrips...

But yes, if Index(nifty) is below 200 SMA, my position sizing is just below normal..What it used to be when index is above 200SMA...

Thanks Sir,

let me check my portfolio viz a viz 200 SMA.:thumb::thumb::thumb:

 

[anil_s_trivedi]

There is a simple Rule of moving averages which says, buy above if price closes above it, and sell if prices closes below it...it is well known by every TA aspirant...And in 'n' number of books you must have read this...that if you invest according to this you will loose your money...

But here i am having a different opinion(based on my own testing)...Rule works if you know what position sizing you are adopting it in different times...

A simple example is, if stock 'x' is below 200 and 50 sma...but recently it coming above 20 sma..this is still a buy case for me. it its coming out of long base building, and yes my capital allocation cant be full...as price is still below 200 and 50 sma...

In another example, let us assume stock is severely above 50 and 200 sma...almost a parabolic run up. so in this case you cant go on with full allocation defined in your rules...As you know stock is well overextended...

Moral for me, is defined your rules...and most important thing i learned is money management...position sizing...There are different times one needs to be learned, you just cant go full throttle...sometimes you need to slow down for taking a little turn ahead...

 

[anil_s_trivedi]

Infosys Q3 earnings on Jan-13...

 

[vsatrader1]

hi anil,
wht charting sw r u using ?

 

[anil_s_trivedi]

hi anil,
wht charting sw r u using ?

Its a online site trading view dot com...for offline analysis i use metastock software updating EOD from NSE bhavcopy from their website...