Charts for the Day

[anil_s_trivedi]

Nifty is in downtrend in weekly & monthly charts. Only resistance seen now is coming at 11200-250 zone...For any meaningful upside need to see a good volume bar on nifty alongwith good closing of 1.5-2%. It will lift many stocks from lows and can provide further clues...

Stocks wise as already telling you stay away from catching lows it may bounce once/twice but its not at all a evergreen strategy to earn money in the market...Focus on stocks in uptrend consolidating and making bases on the way...

 

[anil_s_trivedi]

Nifty:

Friday event was a unpredictable one nifty managed to close above 200 SMA, while it missed by whisker on weekly charts for closing above 40 sma...

What to do now..?

Many of stocks climbed from lows to the extent of 10-15%...If you are stock trader, focussing on buying stocks in strength then yesterday was a rally which lifted beaten down stocks more, may be due to short covering in those stocks.

As a trend follower, it managed to have a big reversal bar on daily charts, ideally follow up need to be seen during such events. After studying many large cap stocks, it seems rallying from here on is a bit difficult, and sideways possibility is more...On upside 11460-11490 is a stiff one to overcome and watch closely individual stocks charts to gauge strength. I want to see many stocks breaking out on upside from solid basing patterns and not a fluke rises...

Dont be too much focussed on index unless you are a index trader, focus on individual stock opportunities out there...again i want to reiterate buy stock in strength...

 

[anil_s_trivedi]

Nifty:

Nifty:

Friday event was a unpredictable one nifty managed to close above 200 SMA, while it missed by whisker on weekly charts for closing above 40 sma...

What to do now..?

Many of stocks climbed from lows to the extent of 10-15%...If you are stock trader, focussing on buying stocks in strength then yesterday was a rally which lifted beaten down stocks more, may be due to short covering in those stocks.

As a trend follower, it managed to have a big reversal bar on daily charts, ideally follow up need to be seen during such events. After studying many large cap stocks, it seems rallying from here on is a bit difficult, and sideways possibility is more...On upside 11460-11490 is a stiff one to overcome and watch closely individual stocks charts to gauge strength. I want to see many stocks breaking out on upside from solid basing patterns and not a fluke rises...

Dont be too much focussed on index unless you are a index trader, focus on individual stock opportunities out there...again i want to reiterate buy stock in strength...

Gapping up above resistance zone and holding it presently is positive for intermediate term, breaking below 11450-460 zone will mark first sign of exhaustion on daily charts...

More correction only below 11250-270 zone...

 

[anil_s_trivedi]

Nifty:




Gapping up above resistance zone and holding it presently is positive for intermediate term, breaking below 11450-460 zone will mark first sign of exhaustion on daily charts...

More correction only below 11250-270 zone...

Market is too much volatile to handle by newbies. Get off the screen if you are tough time to trade the market...Nifty landed to 200 SMA today 11250 zone...Todays bar not good for bulls engulfed fridays bar and closing below low of the same bar...

I am repeatedly saying dont try to catch falling stocks its way too dangerous to get on to support. Only seasoned player having strict stoploss discipline can survive while catching those shits...

Buy the stock in strength...what is strength ..??...focus on stock above 200 SMA or better stock trading within 15% of 52 weeks high...they are trading their for a reason you and me dont know...Real problem is it is tough to buy the chart which is moving left bottom to top right corner of screen, but that is why it is moving up...thats the stock in uptrend...

Trading below 200 SMA would put pressure on bulls...let the market give further clues..its not mandatory to trade daily...choose the time and place you feel comfortable to intiate the positions...

 

[anil_s_trivedi]

Nifty:

Previous months high: 11694

 

[khurshedmanjra]

NIFTY.......resistance seen around 11990

 

[insursi]

Dear Anil_S_Trivedi,
Wishing you a blessed and wonderful happy new year 2020!!!

 

[anil_s_trivedi]

Hi friends...looking to have some posts going..lets see...

Nifty is below key averages of 50 & 200 SMA. A much extended downmove and for the same cooling going on. Individual stocks patterns are *Not* looking too good on daily & weekly charts.

Old readers of thread knows well, look for relative strength in stocks for promising next stocks of leaders coming in.

-Missed *Not* earlier..so modified post.

 

[ravi2126]

Hello @anil_s_trivedi Ji missing for many day...
Missing ur analysis
Pls keep posting regularly so we can learn from it.
Thanks

 

[anil_s_trivedi]

Nifty update:

CMP: 9800

50SMA resistance coming in at 9840-50 zone. Crossing it will require huge buying as of now. As its a falling one. Today would be first test of 50 SMA after making top and correction onwards.

Focus more on individual stocks names. Few are making bases but for nifty to rise further need more consensus on solid bases. Prefer stocks having better relative strength.