Charts for the Day

[khurshedmanjra]

NIFTY crashes through 200dema. Could it now find support around 100dema 10098 ?

 

[mohan.sic]

100 dema is at 10098 and XYZ double exponential ma will be there at 10200, XYZ weighted ma will be at 10100, XYZ simple ma will be at 10000,
XYZ triple exponential ma will be at 9800 level. We have created so many types and levels of moving averages that, At every level, Nifty will shake a hand with some or other moving average.
Nifty will anyway take support at some or other level in this fall. And what ever the Moving average is there at that level, will be celebrated this time.

 

[anil_s_trivedi]

Sensex CMP : 34415

Hourly strength only above 34700
Daily strength only above 35700

 

[anil_s_trivedi]

There is no magic about following moving averages, for me its a line of reference on that time frame.

It tells what investors/traders doing on that time frame.

A simple 21 sma tells avg of past 21 days. Prices trading below 21 sma is cause gor concern for trader who buys

Sensex CMP : 34415

Hourly strength only above 34700
Daily strength only above 35700

Resistance zone for short term :
34650 - 34700

Trading above positive for bulls on short term.

 

[ravi2126]

Anil’ji u r applying same MA (example 50MA) in daily/weekly/monthly....or change it according to frame..?

 

[anil_s_trivedi]

Anil’ji u r applying same MA (example 50MA) in daily/weekly/monthly....or change it according to frame..?

Raviji,

I am using 21,50, 200 sma on daily
Altjough my settings remain same on weekly as well as monthly but on higher timeframes i rarely set stoploss.

If i get price at crucial MA on weekly/monthly still my entry as if now remains on daily. Until i see some constructive price action I refrain from going long.

 

[anil_s_trivedi]

There is no magic about following moving averages, for me its a line of reference on that time frame.

It tells what investors/traders doing on that time frame.

A simple 21 sma tells avg of past 21 days. Prices trading below 21 sma is cause gor concern for trader who buys


Resistance zone for short term :
34650 - 34700

Trading above positive for bulls on short term.

Sensex:
Short term strength above 34500
Hourly strength above 35500 only.

 

[anil_s_trivedi]

Many asked why i am not giving supporters kevels!

Regular readers might know this , when markets in uptrend i give support level to negate the trend. Similarly whem markets in downtrend always watch for resistance levels to negate your view. We are not here to predict but follow the trends...

 

[anil_s_trivedi]

Strength above 35000 holding can chase to 200 sma @ 35400

Weak below 34700-730

 

[khurshedmanjra]

NIFTY....... an observation
Looking at daily chart with Bollinger Bands, it is observed that Nifty has on several occasions in the past, smartly recovered from below the lower band, to move on to middle band, surpass it, and march on further towards upper band.
Would Nifty repeat the feat this time too ?
Middle band currently at 10833, upper band at 11604 !

Do you agree ?