Charts for the Day

[anil_s_trivedi]

Dear sabhlok,

I trade in stocks with of a mechanized approach which i had built it over the years using momentum as it one of its components.
So when i dont see momentum follow up of my signals i just sit out or trade light. Why ..??
Bcoz failure of signal implies, a counter move which will be more powerful as it has trapped many a followers on wrong side.

Regarding your stocks list, its a fine list. All with good volumes.
I need to analyse everyone to see the levels and then only i can comment.

Nifty at these levels are at crucial turning point, many a stocks had breached 21 EMA on daily which i followed to judge their corrective move. So bias is negative only, but keep your emotions in check.

 

[amibrokerfans]

I trade in stocks with of a mechanized approach which i had built it over the years using momentum as it one of its components.

and here is mine

 

[prst]

hi anil bhai,
just wanted to share an occurrence of andrew's pitchfork pattern, tat i came across lic housing weekly charts.
to my untrained eye, it looked like the pattern developed midway.
currently price is on the median line.
pattern says this is a S/R line.
this followed by 2 hammers suggest possibility of top formation.
even adx is not doing anything grt.
ur views plz.

 

[anil_s_trivedi]

Dear prst,

Hi...LIC corrected from highs of 280 highs in 2013 to lows around 154, so its almost a 50% odd correction. Stock trying to retrace that move as of now.

Weekly charts hold a crucial support zone of 154 levels. Its a simple price action in play, alongwith +ve divergence on daily, to go long around that levels. A simple setup indeed.

On daily, Momentum reading telling to try to go long if it correct till 175-180 levels. Stock poised to test 230 levels minimum.
As intermediate still up, it may possible to test 230 levels. and then a correction for this rise from 154 to 230 zone.
As long term turned up, 'not expecting' a selling soon in these scrip to break 154 lows.

 

[Option.Trader]

and here is mine

Amibroker, this by far has been the most accurate prediction given by a user almost a month in advance, would love to see you continue posting about this in a separate thread for benefit of all. How do plot these levels?

Amibroker, any update on the market matrix cycle with respect to nifty? The last one was spot on

 

[anil_s_trivedi]

Nifty update:

As expected in our last analysis, every rally till 5900 was used to get rid of longs. And now market back to a key number below 5900 levels.

Anyways on daily, short term is still down along with intermediate momentum, so it will be watchable to how it pans out.

On hourly, Short term & long term down. Intermediate nature depends on this hour and closing below 5850 will forced it to down.So it will be a downside pressure as of now.

Key levels are 5930 / 5901 / 5865 / 5815.
Below 5815 it may test 5670-80 zone.
Below 5660 levels high risk of testing 5400 odd levels.
I dont sound to be that much bearish as of now, we will see step by step. For today keep 5815 on lower side and 5865-70 on higher side as a tradeable zone.

I track my SAR number and it is coming at 5850. It already breached today morning and as i like to keep SL of 20 points. That comes out at 5870, which is again proving as a resistance as per price action zones.

 

[anil_s_trivedi]

Hi prst,

Was away from forum busy with personal work (trades). Last time we had LIC housing finance chart posted by you, a update stock still seems to be in sideways to uptrend.
As of now as we anticipated it challenged highs and also got -ve div on MACD, but stock not corrected much. Hopefully going on in time wise correction mode.

 

[anil_s_trivedi]

 

[anil_s_trivedi]

 

[anil_s_trivedi]

Lupin labs a long term secular uptrend, a long term holders need to be caution ahead.
Stock showing some sign of fatigueness. On daily weakness is seen, but in weekly still not a convincible weakness. So watch out, a great trading oppurtunity lying ahead.

Stock chart showing a huge rising wedge pattern, and it may be complete or under progress. But a level to alert is 800 on weekly charts. A must hold else stock will be apt for a bear to act then.