Charts for the Day

[anil_s_trivedi]

Hindalco Update:

A loosing momentum sign appearing prominently. After booking some longs near 108-109. Stock yesterday hit 115.xx levels. Today although nifty opened gapup above previous high, hindalco remain below prev high. Aggressive players can book out completely here at 113 levels.

 

[anil_s_trivedi]

Nifty update:

Hourly short and intermediate still down, restricting upside. But consolidation is more of time wise.
Anyways, below 5865 more chances of testing 5830 / 5780 zone.
on upside, first sign of strength sustaining above 5907.

 

[anil_s_trivedi]

Nifty update:

Done 5830 levels. Now strength above 5885 only.
Lower levels if expected then 5780 is a next good support zone.

 

[anil_s_trivedi]

Nifty update:

Done 5830 levels. Now strength above 5885 only.
Lower levels if expected then 5780 is a next good support zone.

Nifty update:

Our last update still going good. Nifty didnt able to cross 5885 as of now. On hourly short term down but flattening. Intermediate still down.
A options premium eating going on as already anticipated by us.


A close below 5825 zone will invite lower levels till 5780.

On daily all momentum signs are still UP..UP....UP...
A killing time correction going on. Weekly closing going on and seems a comfortable closing coming on as of now, on week charts.
5760 is a level to be watched on weekly basis.

 

[anil_s_trivedi]

Nifty update:

Nifty opened gap up, but failed to hold opening highs. Started sideways in morning, but failure to hold 5915-20. Also it is unable to cross our resistance zone as we are covering since starting of this month at 5945-70 zone.

Hourly momentum signs are short term down, intermediate is already down and forcing long term to turn down. Failure to hold of 5810-05 levels will invite 5760-40.
These is support zone on daily charts, if its a major weakness it will break 5680 too in a hurry.
For strength case as of now, need to hold 5880.
Below that case for weakness only.

 

[anil_s_trivedi]

Nifty update:

Hourly short term momentum is Up. A bullish setup under 'development', if this hour closing comes at above 5870 a bullish view can take it higher.

Watch it closely. Below 5840 it can test 5805-10 levels.
Below 5780 a likely positional sell.

 

[anil_s_trivedi]

Nifty update:

On hourly momentum favouring upside bias, as already posted on last update.
The struggle with 5885 our key level since many days is still on. Anyways take is right now alignment is bullish one. And needs a follow up move now.

 

[anil_s_trivedi]

Nifty update:

As we are seeing since last few trading days, despite correction on daily momentum setup was already pointing UP,UP,UP... This is what is called higher timeframe act.
Now Monthly closing will reveal more, as previous month closing was no good. But Weekly pin bars change the setup on intermediate timeframe and see the result.

Anyway, the beauty of the long holders will now be seen, as i dont see a reason to start the bull run. But yes 6245-50 cannot be ruled out. and in between the hands will change for the downside.
Keep watching...

 

[anil_s_trivedi]

Nifty update:

Nifty 5min charts slowing down. It didnt mean reversal on higher timeframe.
But yes slowing the upward momentum, on 5min charts.
Keep on alert on this rally, why.??
A simple technical analysis rule tells us, the upward path of nifty is too steep. And i really scare of things which really go too much fast.

 

[anil_s_trivedi]

A RBI meet will have wording on tomorrow opening. As market closing near to highs participants expecting a bullish view. Seems market in a hurry for 6250 levels.
All eyes on tomorrow opening.

Many adventurous traders who took shorts yesterday, just to satisfied ego. Got crushed today. Its not a compulsion to trade daily. And with volatility taking driver seat its absurd to trade large quantities. Also trade in the direction of trend.

The play is on with big players in the fray, as i see very small retail participation. And that too in gambling F&O. so play light.