Charts for the Day

[ravi2126]

Good morning anil'ji,when u think to buy above 20/50/200Sma bcoz lot of time scripts tend to play around this averages

 

[anil_s_trivedi]

Good morning anil'ji,when u think to buy above 20/50/200Sma bcoz lot of time scripts tend to play around this averages

I had some simple rules to follow...

Above 10 SMA - Very short term uptrend
Above 20 SMA - Short term Uptrend
Above 50 SMA - Intermediate uptrend
Above 200 SMA - Long term uptrend

If the MA i am following in trade breaches one in the respective timeframe, i am out of the trade...

Now for entry, as you know earlier i am too much focussed on consolidation led breakouts trades or retest type of trades with support from MA. But now i simply get into close above MA for longs too. And for stoploss in trail with ATR based. It can be 2-3ATR stoploss. for first few days then trailing using MA's in that timeframe.

Another thing is one should know whether there is expansion in ATR going on or not...After taking trade if ATR starts to expands in your direction of trade just try to stick in, dont get out too early...also dont try to enter into trade if ATR is too high...

Another thing is tracking overbought/oversold from higher timeframe charts it gives you some good early hints where are you into bigger picture...

For example: If stock is completely oversold in weekly timeframe and suppose it is hitting 52 week lows...track these stocks too, as they move out of consolidation base they are good runners for 50-100% moves...

 

[anil_s_trivedi]

 

[anil_s_trivedi]

LIC housing finance sitting at 200 SMA as well crucial S/R zone...Weak below marked zone...

 

[lemondew]

Ravi bhai,

tatasteel hit 425 today. Nice chart sir

MACD SUPPORT ON DAILY

 

[ravi2126]

Ravi bhai,

tatasteel hit 425 today. Nice chart sir

Sab anil'ji ki badolat le,unke thread se hi sab shikha bcoz when I visit first time here I was zero...no support n resistance at that time..bus ab unse Sikh rahehe. Heartly Thanks to anil'ji,bcoz each n every time he patiently give ans..

 

[rangarajan]

If stock is completely oversold in weekly time frame and suppose it is hitting 52 week lows...track these stocks too, as they move out of consolidation base they are good runners for 50-100% moves...

anil Trivedi,

Can u pl elaborate on the above Post.

1) If a stock is over sold for extended period in stochastic, say more than 5 bars ( tweaking of Smart_trade on oscillator which he recommends for Lower Tf ), it is weak & after coming to neutral, likely go down further than the lowest made ( unless reaches O/B ).
So, any buy could be trading counter tend which should be avoided by amateurs.

2) If a stock goes into O/S & comes out w/o spending extended period, Buy above when comes out of o/s zone ( with filtr) ( zone value subjective )

3) So,do u mean to say the above & when u mean run 50-100% , is it to be measured from the PH from which it came down.

4) Or, we look only price action which is consolidation here & ignore oscillator. In that case, 'what is over sold'


5 ) What is the significance of choosing only Weekly TF? & is 52 week Low necessary criteria?

 

[anil_s_trivedi]

anil Trivedi,

Can u pl elaborate on the above Post.

1) If a stock is over sold for extended period in stochastic, say more than 5 bars ( tweaking of Smart_trade on oscillator which he recommends for Lower Tf ), it is weak & after coming to neutral, likely go down further than the lowest made ( unless reaches O/B ).
So, any buy could be trading counter tend which should be avoided by amateurs.

2) If a stock goes into O/S & comes out w/o spending extended period, Buy above when comes out of o/s zone ( with filtr) ( zone value subjective )

3) So,do u mean to say the above & when u mean run 50-100% , is it to be measured from the PH from which it came down.

4) Or, we look only price action which is consolidation here & ignore oscillator. In that case, 'what is over sold'


5 ) What is the significance of choosing only Weekly TF? & is 52 week Low necessary criteria?

I am explaining here what i want to focus on...you can use any indicator...Oversold in case of oscillators is their standard definitions...while for non bounded ones like MACD its observation from chart, from where previous rallies have originated from...

Point is higher timeframe trend assertion is to seen greatly...Dont take such signals lightly..In daily charts there are small corrections, but if higher t/f is up then those daily correction need to bought into with addition inputs from MA or s/r levels...until it is oversold on higher t/f this can be done...

I dont have any standard rules like ST's have on stochastics...i just trade pattern known to me after observations...

In short respect higher timeframe...

 

[lemondew]

anilji,

just observed both price and macd took support in same levels in second buy in above chart. When both comes in same place any added weightage?

Just elaborating this scenario
price is taking support in a known previous support 200 in tata steel case.....
Also when 12 day ema - 26 day wma or whatever in Macd is not going further down.... Does this happen when price spends some time there in the base? Havent spend time with macd

 

[ampa]

Hi Anilji,

What is the name of indicator that shows 52 week low (i.e. red line in the chart)? Which platform is it? Is it in MetaStock?

Also is there any way to find which stock are at 52 week low?


Thanks
Amruta