Charts for the Day

[khurshedmanjra]

NIFTY taking trend line support ?

 

[joyesh]

NIFTY taking trend line support ?

MACD might be telling a different story here

 

[ravi2126]

Hello Anil'ji, What's ur View on nifty now..?

 

[anil_s_trivedi]

Hello Anil'ji, What's ur View on nifty now..?

 

[iwillwin]

Anil sir we have been missing ur active participation in market....

 

[anil_s_trivedi]

 

[anil_s_trivedi]

Nifty previous week moved up on narrow range bars with small up closings indicating lack of upside momentum coming in, on friday it the volatility expansion took place and support gone for toss. Closing well below tuesdays lows indicating extreme short term weakness coming in.

With todays bar nifty is below support of 11790-11810 levels. And in meantime also trading below 11625 the previous months lows indicating weakness coming in higher timeframes. The more it sustains below 11625 more uncomfortable for bulls.

For any reasonable strength it can be seen only above 11790-11810 levels...

Lower levels can be seen till 11200 in case of bearishness continuing...

 

[mevaibhav]

Can anyone sitting on a trading desk watching only Technicals and no access to news or Company Fundamentals Trade with profit ?

 

[anil_s_trivedi]

Can anyone sitting on a trading desk watching only Technicals and no access to news or Company Fundamentals Trade with profit ?

Dont know about others, but myself stopped watching business channels long time back. How watching TV helps trading i didnt understand till now. Your position in the market is bound by your target and stoploss, just stick to plan and trade.

And one never knows impact of news on the stock. Sometimes with positive news stocks get sold off badly, while too much bad news let to bottoming process. Very difficult to decipher it, so better stick to parameters which are under our control.

 

[khurshedmanjra]

INFOSYS........4 out of 5 times stock has taken support from 200ema and bounced up.