Charts for the Day

[anil_s_trivedi]

Nifty update:

Price structure weakening on 15 min time frame.

 

[anil_s_trivedi]

50 SMA scrips, with momentum in play...

 

[anil_s_trivedi]

Dear Friends,

We anticipated a test of 5920-25 zone, but fall restricted to 5930. Nifty when near to 5985 levels we had come to conclusion weakening of price structure on 15 min timeframe. Nifty did fall and close near to lows. A story of profit booking.

On daily, short term momentum is up but flattening. While intermediate still up. So a likely pattern on sideways to down for the coming week.

On hourly, there is a structure of -ve divergence and nifty need to move sideways to down as trend on short and intermediate is down. Implying weakness in short term, so every rally will be sold into, till we have support near to 5885 / 5810 levels.
We have resistance near to 5965-75 zone.

So its a clear cut follow up plan. No long near to 5965-75. And no short near to 5885. If breached we will see. Also no short near to 5810 levels.

I had some friends, and what i see from their analysis is many have been projecting 6300+ on nifty. Sorry i dont have such anticipation of levels. But yes i know that as soon as my daily momentum is up we will be into rise mode. Our hourly is telling us a likely sideways to down. so its wise to wait for down levels to trade in sync with daily.

We are not a strict pattern follower. so we will stick to our rules.

Have a great week ahead...

 

[anil_s_trivedi]

Nifty update:

Hourly :
Momentum is up but indicatins of topping in process

5min:

a slew of -ve divergence, and momentum too slowing down.

First sign of weakness if sustained below 6015, and more below 5995.

Closing of hourly below 5995 not good for bulls.

 

[Bewinner]

Nifty update:

Hourly :
Momentum is up but indicatins of topping in process

5min:

a slew of -ve divergence, and momentum too slowing down.

First sign of weakness if sustained below 6015, and more below 5995.

Closing of hourly below 5995 not good for bulls.

But it gave closing far above 5995...so what's next? r we going to see 6120 again? Will it stretch beyond that?

 

[anil_s_trivedi]

But it gave closing far above 5995...so what's next? r we going to see 6120 again? Will it stretch beyond that?

Dear Bewinner,

Yes thats the way market is moving. It even didnt testing our levels of weakness. And with time consolidation slowly marching up.

6045 is a resistance zone again. As of now hourly momentum is up, but its slowing down its pace of moving up, so its a caution sign coming in.

Although -ve divergences appearing more prominently on hourly now, but we need to make it test crucial levels before ascertaining weakness.

Weakness on daily will be below 5995 below, and more below 5925 levels.

On hourly, below 6015 closing, it will be a challenge to bulls. And more prominently hourly closing below its not good.

Let it test the testing zones, and then only we can conclude whether the run up coming to halt or not. Else trailing going on smartly by professional players, by avoiding key levels.

 

[Bewinner]

So this is not the month just to "Sell and Go Away"?
or still we have the chance of that...

I think time has the only answer.

 

[Bewinner]

So this is not the month just to "Sell and Go Away"?
or still we have the chance of that...

I think time has the only answer.

 

[timepass]

So this is not the month just to "Sell and Go Away"?
or still we have the chance of that...

I think time has the only answer.

Early days yet.


Or maybe you could sell the July series

 

[anil_s_trivedi]

So this is not the month just to "Sell and Go Away"?
or still we have the chance of that...

I think time has the only answer.

Dear Bewinner,

Nifty is closing in strength on weekly basis from last three weeks. As you would refer from earlier weekly analysis. So until its have weakness in daily, which is of concern only when nifty is in overbought zone on weekly, then we can have a chance of a deep correction of this recent upmove from 5550 levels.

So we will watch it closely, where it would have a overbought situation, and the time, till then its a up only.

I just joined now, lets see how hourly showing its colors...