Charts for the Day

[preethi21]

RS will depreciate to 63/65 even 70+ against US doller....

Nifty will touch 5000/4800 so easily....
Banks will hit so hard .....

 

[manojborle]

Happy Independence Day...


There are many stocks looking set for a rise, as intermediate bottom is made in those stocks.
Some of them are...
Gujarat state petronet(Stronger)
Jindal Steel power ( Strong)
JSW Energy ( close to a good buy..watch out)
Jyoti Structure ( Strong and seems a bottom i place as of now)
Allahabad Bank ( short term bottom in place..longs need to have Sl 67 on closing basis)
Bajaj Hindustan ( a aggressive bet, as short term bottom in place)

There are many i need to look closely. Anyways comments are written on it. Will try to post chart on it, if time permits, in between go through them if you had any alternate system to support the same view, it would be a great confirmation.

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Anil sir I tried to do analysis in 2 of the scrips, please go through it other scrips I could not find anything

 

[preethi21]

RS will depreciate to 63/65 even 70+ against US doller....

Nifty will touch 5000/4800 so easily....
Banks will hit so hard .....

Banks are hitting so hard.. too bad is it...:thumb:

:annoyed:

 

[kindman]

RS will depreciate to 63/65 even 70+ against US doller....

Nifty will touch 5000/4800 so easily....
Banks will hit so hard .....

Preethiji i am a silent reader of your posts,You are just awesome, rs hits 65 today and market is moving same as Your views , welldone :thumb:

 

[anil_s_trivedi]

Nifty moved swiftly down with higher timeframe weakness on charts and leaded by dollar strength. On weekly its a pin bar, and holding high of weekly bar 5504 will add to strength.
Momentum reading on daily reflecting short term positive divergence and a flattening in intermediate term, adding possible trend as sideways to UP. With long term still down, its wise to treat every rally as getting rid of loosing positions at its best.
On hourly, a slight positive structure exhibiting with all three trends UP, and a positive divergence in long term, so if sustained above 5350 levels, it can add fuel to rally till 5600 levels.

Crucial Resistance to upsides are 5495 / 5605 / 5735
On downside supports at 5440/ 5350
On higher timeframe supports at 5200-15 zone.

With expectations from RBI policy, market may remain sideways to up, and a failure to get past quicker above resistances mentioned is sure sign of weakness, as strength anticipation should get reflected in price structure.

With almost all the traders expecting positive week ahead, lets see whether majority shows the way, or market have its own way.

 

[anil_s_trivedi]

Nifty update:

Support in 5380-85, if breaks fiercely expect lower levels. Else see a consolidation move again in the range 5380-5440-5495.

Expiry week and monthly closing will test the true nature of trend.

 

[anil_s_trivedi]

Hindalco on my radar since last few weeks, showing sign of bottming. With improved relative performance vis-a-vis with nifty.

A pullback to 200 DMA happened on monday 26th august, and the act of todays bar showing it as a rejection sign as of now. But momentum readings on daily and weekly favouring to look for possible sign of upsides.

In that quest the minor support zone near 95-97 zone and a good one near 89-90 if holds back stock is set for a rally till 120-130 levels.

I will initiate longs near 95-97 zone and rest near to 90. With SL on closing basis at 88.

 

[anil_s_trivedi]

Nifty update:

No level is too low and no level too high for Nifty. Old sayings always repeated.
Those with the trend flourishing, those catching bottoms..
Higher timeframe acting at its best.
Lets rework the possible extension.
Will be back shortly.
Stay away if dont know what to do.

 

[amitrandive]

Great Chart reading , Thanks
:clapping:

 

[anil_s_trivedi]

Nifty update:

My higher timeframe support zone came at 5115-20...sorry i too noticed it now...
Next coming at 4000 levels.

Missed a chance of tinkering it with 5 pt SL...anyways...this is how homework matters...if you missed one day..who knows it will be best day...

Anyways, Hourly bar made at low looking good solid support as of now. Nifty needed to hold it, it 'may' be one of that craziest bottom.

But as a momentum follower, my conservative chances to go long are still not coming in!!!