Charts for the Day

[anil_s_trivedi]

Dear Friends,

We on thursday and friday analysed and came to conclusion, above 5900 is no long zone.
Nifty on daily failed to reach resistance zone of 5950-65 zone. On daily short term bias is up but flattening. So a little sign of consolidation here. If nifty clears 5960 zone and get close above it, a huge positive for bulls. We will watch it there.

On hourly, there is a persisting -ve divergence on short and intermediate term, and long term showing sign of slowing in momentum. So sustaining below 5890 is a sign of weakness. And more below 5865.

Weekly got good closing and till we hold of 5630 zone on weekly we are in intermediate uptrend. In midway we will analysed if hourly shows us more correction if at all.

strategy right now is should be scrip wise, as nifty will consolidate here.

Crucial levels for the week from up to down are 5960 / 5890 / 5850 / 5790 / 5750 / 5630

 

[anil_s_trivedi]

Dear Friends,

As seen in our last analysis, intermediate uptrend with higher highs and lows, keeping uptrend intact. And also in last two trading days it got support at our levels of 5860-70 zone. Also we know time consolidation is giving more strength. Actually its a simple logic, shorters fell unsafe if nifty trade in a small range consuming time instead of correcting price wise. So these shorters feel the heat as soon range gets break.

Anyways, daily still into uptrend. And hourly too in short term up, with intermediate down, and long term up but flattening. By looking at price structure, it can clear 5960 zone, and then unable to hold of is a first sign of weakness positionally this time.

On daily its a doji, implying indecision, in strictest means. but one should observe it closes high of previous three bars ( which failed to clear of 5925 zone), implying strength.

First sign of weakness in 5min, if prices sustained below 5920 lead by breaking of 5890 zone.

So our key levels are 6045 / 5965 / 5920 / 5890 and below its a weak case.

Tomorrows closing should be above 5915 levels, as yesterdays bars clear 5925 and got close above it, the strength shown should be carried up, if failed to do so, its a early sign of weakness.

 

[prst]

Dear Friends,

The 50 DMA trade setup we got on good scrip like Colgate run up to a decent 5% trade.

The emphasis do we have guts of trading/investing on purely technicals. We doubt many times, struggle to act on our studies and the trade one misses always give a feeling a of regret.

Now its a high time, one should have a strategy with clear cut defined plan with stoplosses. Bcoz ultimately we never know what is the target will be, but how much risk we can handle is certainly in our hands.

So please devise your system of trading/investing with clear cut rules defined.

anil sir,
colgate is going welll
palmolive da jawab nahi

 

[anil_s_trivedi]

Our 50 DMA trades were going good. Someone can call them a purely luck as nifty also showing strength. but what matters is money ultimately.

I am just showing the rule of sticking to plan, and we are doing it in direction of trend anticipation. so nothing wrong in it. Its not a pure trend following strategy, as we also doing anticipation, but we are following our stoploss too. so why worry.

Gist is its never too late to devise a plan.

Have you started to frame it up, or still searching ???? ' The Holy Grail'...

 

[anil_s_trivedi]

Nifty update:

NS: 6010

Hourly still in Uptrend.

On 5min, trend overstretching, caution to longs , with divergences appearing more prominently now..weakness with closing below 6005 on 5min..
On hourly weakness if breached 5956, first sign of it will be below 5985.

 

[HARIVEL]

@ Anil s trivedi

-Ve Diverg observed in RCOM, is it shorting candidate ?

 

[anil_s_trivedi]

@ Anil s trivedi

-Ve Diverg observed in RCOM, is it shorting candidate ?

Dear Harivel,

i am more of investor type, and i donno whether you are trading it positionally or intraday..

Rcom is in short term downtrend, but intermediate is up. if closes below 101 its a sign of weakness but not positional one. it may correct till 93 or so. A positional weakness only closing below 93 levels.

 

[HARIVEL]

I am positional trader.
obsered +ve div in DLF & BHEL, last month those moved only in sideways so looking for it

Thanks

 

[anil_s_trivedi]

I am positional trader.
obsered +ve div in DLF & BHEL, last month those moved only in sideways so looking for it

Thanks

Dear Harivel,

+ve / -ve divergences are not the only thing you look into, it will lead to disaster. but also follow price action or other levels pivot ones, to look into strength or weakness.

Generally when market is in trending nature, these divergences test patience, but price along with time corrections, kill those divergences and remain moving in trend direction.

If you are positional trader define your stoploss limit, and then see if trade comes in your parameters with your stoploss then take it, else its a compulsion trade, as the reason you cited you missed some in earlier ones.

A general rule from my side is take a short term ema, and if market is above it dont short, if below it look for short. But yes within your stoploss appetite zone.

Like currently nifty the rise from almost 5700 till 6000 is up, with -ve divergences coming in, but prices refusing to correct or test our key price levels. Now tell me why to short, if price is still not confirming it...

 

[anil_s_trivedi]

Nifty as expected posed risk yesterday due to momentum stretched out.
There is a more risk of testing 5915-20 levels as of now. holding it is good else more falls in sight.

hourly short term down, but intermediate flattening posing more risk on downside.
5870 is a support zone, and if holds off good. closing below it is dangerous for bulls.
Volatility will be there, for the day.