Charts for the Day

[ravi2126]

Did u apply any other indicator with that,when take position...if v see infy may b RSI is showing negative divergence

 

[ravi2126]

Anil"ji nifty view plsss.?

caught u online after long time..that why question list..

 

[anil_s_trivedi]

Did u apply any other indicator with that,when take position...if v see infy may b RSI is showing negative divergence

I look at price only...Only thing i understand is price requires a base to move up...how strong a base is only thing you need to study...You can look at volume also...but indicator i dont find any favor...

Occasionally is look at MACD/RSI/Stochastic only if i am unable to decipher what price is doing...I dont see any divergence in RSI in Infy...For good divergences better to look on weekly and then daily...that too, look out for first rsi peak above 70 zone and second peak near to 70 but below 70 zone...Rest the divergences forming between 30-70 are not favourable... Secondly rsi is important to look at range shift...i already discussed in this thread regarding rsi range shift... its nothing but when price is in bear grip, rsi stays below 70...while when bulls came into driver seat rsi dont fall below 30...any fall will restrict to 40 or so only...

MACD/Stochastics are also good, i am not dependent on them...i had seen charts where divergences fail repeatedly...many say third peak of divergences is sure way to initiate trade...but i had seen four peaks too...its not a rule...

Only thing i need is price and moving averages...they tell a complete story whats going on there...

 

[anil_s_trivedi]

Anil"ji nifty view plsss.?

caught u online after long time..that why question list..

I had discussed nifty last week clearly said, rally is not broadbased and its due for a correction...Midcap /smallcap fall was on expected lines...i had told in january only here that 2018 will be full of volatility...trend traders made money in past 2-3 years its time for some shocks to traders in 2018...rotation among sectors will be so quick that it will be difficult to take positions and exit...

But as they say, there will be good times after this difficult phase so brace yourself to survive for that period..All moves in cycles...

I will try to post on nifty on weekend...

 

[ravi2126]

where to book profit....? or its is better to trail sl

 

[ravi2126]

Vjay ji,

One of my long term setup warrant scrips to be qualified if it trades above 200 SMA..while for swing trades there are two categories...first is when scrip is above 200 but retrace towards 50 sma...

May b biocon qualify i think

 

[vikas2131]

I had discussed nifty last week clearly said, rally is not broadbased and its due for a correction...Midcap /smallcap fall was on expected lines...i had told in january only here that 2018 will be full of volatility...trend traders made money in past 2-3 years its time for some shocks to traders in 2018...rotation among sectors will be so quick that it will be difficult to take positions and exit...

But as they say, there will be good times after this difficult phase so brace yourself to survive for that period..All moves in cycles...

I will try to post on nifty on weekend...

Good time for traders..

 

[khurshedmanjra]

Vjay ji,

One of my long term setup warrant scrips to be qualified if it trades above 200 SMA..while for swing trades there are two categories...first is when scrip is above 200 but retrace towards 50 sma..while other is scrip is below 200 but price action is flattening near 50 sma...

I look out for base formation setups, it may be near 200 sma or near 50 sma...bases can be flags, rectangles, cup with handle patterns... I look out for low volume consolidation in bases and price action if tight the better it is...

Normally, 50 sma cutting or crossing 200 sma from below indicates GOLDEN CROSSOVER, which, if supported by big volumes, could be a very strong bullish signal.

 

[anil_s_trivedi]

where to book profit....? or its is better to trail sl

Trail it...i believed such breakouts required some time and then they materialise in our direction...

 

[anil_s_trivedi]

Biocon stock in uptrend consolidating since past 3 months...Results due next week...Short term weak below 600 zone...

May b biocon qualify i think

Yes biocon is in uptrend and trade still open from our last breakout zone...SL now is closing below 50 sma...more precise below 615..