Charts for the Day

[anil_s_trivedi]

Nifty For coming Week:

On weekly charts, momentum in short term still down, while Intermediate and long term still up. so its a upside momentum on higher timeframe.
Weekly closing is good compared to previous week. but not an excellent one as demanded by, after taking support at 5970 levels. So its a doubt on weekly closing , and bias can be still sideways to down for coming week.

Curcial levels are : 6205-10 on upside, 6105 / 6000 on downside. Its a almost 100 points separation.

On daily, Short term momentum is UP, while intermediate is down but flattening, indicating sideways mode.
On monday, trading below 6135-40 not good and more time below it is a sign of weakness. While breaching 6105 is a add on confirmation.

5min chart giving support at 6150 levels. Opening is too be seen on monday.

 

[anil_s_trivedi]

hi Friends,

I am unable to post from monday to friday. And possibly will join on friday morning if possible.

A word of analysis. A week coming in may be a tight one, as lots of expectation are getting build for election results getting out on 8th(date one may check it, i am not still sure, just heard it).
So the current wave building up in market, a lot depends on it. More positive results for BJP will add momentum to market, and as i am reading it the month of december can be a probable blockbuster.
So what one should do, trade less and quick in booking profits. As and when8th december approaches, also dont fight with loosing poistions, just admit mistakes and book out. Its wise to loose 50 points than loosing than crashing the whole account, just for sake of feeding your aspirations/emotions to come true.

Why i am telling this, as lots of foreign brokerages are giving the impetus to modi wave, and its a semifinal thing for them. So expect a volatility shock too.

Good luck...

 

[a1b1trader]

Yes Anil Bhai

Results are due on 8.12.13

Further when the expectations are high, market normally behaves opposite.
And here the expectations, i should say are very high.

So one needs to be careful

 

[anil_s_trivedi]

Hi Friends,

Back from a trip. After updating data, it seems we are getting back to square one.

On daily, Short term momentum turned down when it breached 6280 levels. Now a reversal only above 6290 levels. As weekly close is due today, it will try hard to close above 6155 levels, Failure to close above is a invitation to bears for run till 6090-6100 levels.

On Hourly, Momentum wise short term down but flattening, intermediate is down and long term too down. Indications are for downside pressure are persisting. On hourly strength will come only above 6220.

Price action telling us a big black bar, and a failed breakout. So caution needed. Also it is filling all the gaps in a hurry.

 

[anil_s_trivedi]

Hi, Happy Diwali

May the coming year fill your life with joy, Happiness and bestows on you with Good Health and lots of Wealth...

Just going though nifty chart at glance, and posting below. Its a swing projection.
The pattern under making is a undecisive pattern. Where both parties buyer and seller shouting at a time. It can also be called a expanding pattern. Just see the wild swings.

 

[anil_s_trivedi]

Nifty Update:

Nifty opened flat and hold morning lows, indicating a small accumulation going on. If sustained 6180-85 levels, a rise can take it to 6225-40 zone.

On daily 50 DMA is at 6140 levels. On previous occasions it took support at 50 DMA. So watch it.

RBI event due on 18th, so it will be a sideways mode in the region 6245-6160 zone.

Once again watch out 6185 zone. Above it bulls can take it up on intraday basis. A sustaining below it is a case for weakness.

 

[anil_s_trivedi]

Nifty update:

Lowering resistance to 6170-75. Sustaining it will be a boost to intraday bulls.
Bulls will eye to close above 6195-6200, if want to show strength sign.
Closing below 6165 not good.

 

[anil_s_trivedi]

 

[anil_s_trivedi]

Hi,

CESC recommended on 28th october breached resistance with huge volume bar, now pattern seems to be a flag in making, eye on.
CESC as told sitting on breakout, and its one of such scrips where we booked some at 15% profit. Our entry level was 340. And just to have some in kitty we booked out partial.

Stock still up, and we are reading momentum readings, telling us a small resistance at 409-410. Trailing stoploss has been revised to 355 on closing basis (unless stock witnessed 10%+ downmove in a trigger day, just to save flash crash in those stocks).

 

[anil_s_trivedi]

Update of chart of 16th december. Market struggling near to 50 DMA daily, and prompting to take support there, lets see with weekly close due today, bulls will try to hold on 6165 levels.
The aggression by bulls will be seen if it got closing above 6290-95 levels.

One thing i learned is, failure to respect key levels on your analysis will provide a good profit in opposite direction. I mean if your trade in loss if whipsaw occured, cut it quickly, bcoz impending move coming in other direction will be as strong to override all those who got trapped badly.