Charts for the Day

[NANDAMAD]

salute to ur knowledge and SHARING NATURE.
REGARDS

 

[amitrandive]

Its a 1 min Nifty future chart, the action closer to highs near is on low volume while going up, but on falling a good volume.
Its either a trap or selling started, need to see basing near 6030-33 nifty future zone, if action gets sustained another upside, else sell.

Anil Sir

Fantastic Chart reading :clap:

Amit

 

[anil_s_trivedi]

 

[mastermind007]

More likely to pierce it thru for another 50-100 points.

 

[a1b1trader]

Yes, Anil Bhai
Nifty has formed exact double bottom in daily.
Not only this, the rising channel also supports this

So it seems NIFTY can take support here.

NIFTY double bottom 22.11.13

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NIFTY Daily tf Rising Channel 22.11.13

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[jain.er]

Is it head and shoulder pattern?

 

[anil_s_trivedi]

Yes, Anil Bhai
Nifty has formed exact double bottom in daily.
Not only this, the rising channel also supports this

So it seems NIFTY can take support here.

NIFTY double bottom 22.11.13

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NIFTY Daily tf Rising Channel 22.11.13

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Hi,

Yes lets see, infact last half hour rise was with volume. So its a profit booking and new positions indeed has been made here.

Need to see higher timeframe charts, will post it as soon.

A work need to be done here to save that 5970, and expiry week drama will initiate too soon.

 

[anil_s_trivedi]

Weekly Momentum:
Short term – Sideways to Down
Intermediate – Up
Long term – UP
By looking at weekly charts, it seems any rise will get sold into, and 6205 is a stiff resistance zone.

Daily Momentum:
Short term – Down
Intermediate – Down
Long term – Flattening(Not good for bulls, after prolonged rise from 5100 odd levels)
Hourly Momentum:
Short term – UP
Intermediate – Down
Long term – Down

As of now, weekly closing is not good and just a last effort by bulls to save their face in that last half hour on Friday. So it will be interesting to see how they counter coming week, as a weekly players their levels are 5995 / 6070-80 / 6205-10
On looking at daily charts, keep 6037-40 zone as first step by bulls to show there strength by closing on daily above it. Remember previous monthly hawala(Expiry close) is at 6050, so it will be interesting to see this month expiry close. Daily a move above 6060 will be challenged to bears to show their strength and above 6120 it will be face off.
Monthly charts showing a support at 5900-10 zone if violates with a bigger price action, one can see a more bearsih move of atleast till 5650 levels.
Opening on Monday will counter its first resistance at 6030. A move above it is a sure sign of will in first hour. On lower side 5995 will be hold off levels by bulls in first hour, and trying to climb that 6030 will be their first test.


Remember:
Weekly levels are valid throughout the week.
Daily are valid for Monday.
Hourly are for opening hour only.

 

[anil_s_trivedi]

Nifty update:

Intraday now unable to clear 6095 is a weakness.
will post chart afterwards.
A whole pivot zone based on this region as of now. Lets see.

 

[anil_s_trivedi]

Our monday morning first hour figure to watch for 5995 and above 6035. We expected strength above 6030-35, and market opened gap and moved higher. In quest yesterday it move higher and close above 50 DMA daily now at 6050. So it will be worth to watch here, if at all corrects upto here.

We expected real face off at 6120, where nifty struggling to move above. As of now a a real pivot zone getting formed at 6096, and if unable to clear it off, is a sign of weakness. As expiry week, shocks will be there, and momentum signals bound to whipsaw.

Our reference level above is coming at 6145.