Charts for the Day

[anil_s_trivedi]

Closing coming comfortably above 5665-70 zone, a good sign of bullishness...
Also on daily bar closing near its high...
A good closing on weekly charts too...

Options prices are not loosing much implying a charge for volatility ahead, may be fear of syria or something else...All in all only near to resistance zone, but no sign of shorting here...

Monday...holiday....Tuesday as coming to be big days since previous months..lets see what it shows...

 

[anil_s_trivedi]

A chart from a friend who is a avid P&F chart investor/trader. He regularly contributes to me some of his readings. I too have read on subject a long time back in my initial years. I regard this study in the high leagues.
Anyways some of reading and explanation marked by me on charts.
Tata steel a likely breakout candidate as per P&F.
Watch the Relative strength chart still in bullish mode.
Lower chart on right is Relative strength vs. USD/INR.

 

[anil_s_trivedi]

A hidden trendline resistance at 5840-45 levels. Watch out. As anticipated friday, closing was good as per bullish view too.
Nifty opened gap up and marched towards 5800 and above. A sustaining act below 5790 not good.

 

[anil_s_trivedi]

Nifty update:

A higher timeframe resistance visible only near to 5950-75 levels.
Weekly closing was good and market did moving higher today, surge in rally following by rupee appreciation.

A move below 5700 will test higher timeframe support zone, and failure to act here on close on month will test it towards 5450 levels.

5835 is 200 SMA on daily.

On daily short and intermediate momentum signals are still up, while long term still down and flattening.

On hourly too all trend mode up.

 

[nimishsdll]

Here I have uploaded daily chart of Axis Bank. the recent candlestick seems to be an advanced block. The last candle in the ring is a smaller candle signifying the diluting buying pressure or increasing sell pressure. This image is also traced with Fibonacci which shows that the last candle has touched 38.2% (a significant point).

If this brings enough excitement then let me know what is your take about this.

 

[anil_s_trivedi]

Here I have uploaded daily chart of Axis Bank. the recent candlestick seems to be an advanced block. The last candle in the ring is a smaller candle signifying the diluting buying pressure or increasing sell pressure. This image is also traced with Fibonacci which shows that the last candle has touched 38.2% (a significant point).

If this brings enough excitement then let me know what is your take about this.

Dear nimish,

your image uploaded is too small...not visible...

 

[anil_s_trivedi]

Nifty 5min 10x3 setting point & figure chart.
showing weakness below 5840.

 

[manojborle]

Nifty 5min 10x3 setting point & figure chart.
showing weakness below 5840.

Sir, can you continue with normal candlestick charts as many people like me do not understand point & figure charts

Thanks

 

[timepass]

Sir, can you continue with normal candlestick charts as many people like me do not understand point & figure charts

Thanks

Yes, but they are interesting. Good to see other techniques too. Anyway, his charts are accompanied by lucid commentaries.

So, Anilbhai, I vote for you to continue posting your charts as per your comfort, and the commentaries too.

 

[anil_s_trivedi]

Nifty update:

Daily:
Momentum signs are all UP.

Hourly:

Short term Down, intermediate too down, but long term still rising.

200 SMA on daily at 5832, market traded and bounced from there. So a possible reaction seeing happening there. Impatient bulls dont want it to trade below 200 SMA.

Anyways now time to see how hourly correction that has started will frame up here. I mean time wise or price wise correction. And we know time wise correction holding 5790-5800 will hold up bullish arguments to test 5945-75 zone. A zone where resistance on monthly charts are lying.

On hourly 2 hour high at 5885, trading above it short term strength, failure to hold on will test 5840 levels again.