Charts for the Day

[jagankris]

Nifty update:

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...

Dear Anil,

What do you mean by and "in between the hands will change for the downside" ?
Since Nifty is nearing previous highs is there any way to figure out the projected targets(high) based on Point and Figure charts ?

TIA.

 

[anil_s_trivedi]

Dear Anil,

What do you mean by and "in between the hands will change for the downside" ?
Since Nifty is nearing previous highs is there any way to figure out the projected targets(high) based on Point and Figure charts ?

TIA.

Dear jagankris,

I mean, the way market moved up it seems, the upside is for getting rid of long positions and hands change means as usual novice investors will try to lap the shares here. And smart ones will exit slowly.

I am just a novice reader of P&F, its not in my regular course on daily basis. A friend of mine deal in it, will convey him to have such analysis based on price projection.

Now all eyes, on gap made recently as filling the gap is negative and will be watchable.

 

[anil_s_trivedi]

crucial levels

5940 / 5875 / 5820

 

[anil_s_trivedi]

5940 a decider level for the day.

 

[anil_s_trivedi]

Nifty update:

Weekly doji in making if closing near to 5930 zone.

on hourly, short term momentum down with intermediate too. Long term on verge of turning down. More bearishness below 5870 zone.

 

[anil_s_trivedi]

Nifty update:

A sell setup as told already has it effect. We almost warned on nifty highs to keep away from longs. As market not showing strong upside at that time. RBI news came as a rescue for bears trapped badly.
Now the things are changing slowly.
ON daily, short term will be down if todays got closed below 5940 zone.
I would say its safe to short near to 5940 zone with stoploss 5950.

 

[anil_s_trivedi]

As ascertained, Nifty turned away from 5936 zone itself, and remained bearish.
The thing to note is our level given earlier a post on Friday nearly at 3 PM, that 5870 is a crucial level to watch. And nifty did turned away from that.
But its a expiry week, and volatility will be there,so trade wisely.

Now intraday strength above 5960 only.

 

[my_point]

AUDCAD on D1 bounced of the res and now going north. It is a good cance to go long at least to 0.97893 (which if fibo 61.8), but i feel like seting TP at 0.99625 (fibo 50.0)

 

[anil_s_trivedi]

Nifty update:

Breached 5870 and correcting like a smooth fall. Remember its hesitation at 5840-60.
These price action levels comes handy.

On downside, support at 5790 zone. A breached of it fiercely will bring 5700. Else some bounce on store from there.
Now intraday strength above 5905 levels only.

 

[anil_s_trivedi]

On previous update read as,

'Hesitation at 5940-60'