Charts for the Day

[anil_s_trivedi]

Nifty update:

Intraday support at 6245, positional safe till 6185.

 

[sunnyman_46]

amibrokerfans and anil_s_trivedi,

Thanks for your views, I am still holding long on DLF with a strict SL of 154.

 

[anil_s_trivedi]

Nifty yesterdays tried to breach 6240 but consolidate near there and marked the weakness under question. Right now resistance from upper trendlines is at 6325 levels.

Price action wise, a move below 6295 will caution for this rise. And more weakness if breached 6255. Positional Sell below 6190 only.

Momentum wise, daily short term is Up, but intermediate still down, until strong closing seen, intermediate will remain down. and until it reverses i doubt every rally going up.

Many would remember here, why 6290-95 is crucial. Bcoz its the same level where we shorted earlier when market breached that level violently. So its a resistance acting as support as of now. And if weekly closing coming above it, treat it as bullish.

 

[anil_s_trivedi]

Just wanted to share some stock observations...


When you identify a stock, which 'you' think probably a good one to go long, on delivery or positional basis.

I had studied many setups and came to conclusion, that whenever we see a good buy/sell setup according to your study on any stock. Club it with the rest of stocks in that sectors, and see how it looks. I mean it should be the best of among them.

As we know, When any stock giving good indications of upside, it wont go alone, it would either follow a leader in that group, or if that stock itself is leader then some other should also follow.

Point is, if sector posses 5 stocks, then atleast 2 of them should have buy set up, else dont pick that stock. It might be handywork of some operators to move that stock alone.

Usually how buy/sell works is, one stock gives some potential accumulation and probable buy signal, then another one in that sector follow it, so your position should be in these winners, and not on other stocks, which are lagging.

Remember smart ones moves early on, and laggards follow it, with traders herd mentality.

 

[anil_s_trivedi]

Nifty update:

On 5min charts weak below 6300 now.

On daily weak below 6220.

Momentum on daily is Up in short and intermediate term, and long term still down.

Bank nifty still in SELL mode on daily, and will be buy above todays high if crossed, will increase upside momentum.


Will join market on Tuesday...

Till then Happy Trading...

 

[anil_s_trivedi]

 

[vvats07]

sir mujhe bhi candelstick ke baare me seekhna hai ...?
ki kahan se buy karna hota hai kahan se sell......?
plz help me..

 

[R M]

sir mujhe bhi candelstick ke baare me seekhna hai ...?
ki kahan se buy karna hota hai kahan se sell......?
plz help me..

Please go thru Anil's Thread on price action.

regards
rm

 

[anil_s_trivedi]

sir mujhe bhi candelstick ke baare me seekhna hai ...?
ki kahan se buy karna hota hai kahan se sell......?
plz help me..

Hi,

You can also refer a candlestick charting books, for complete set of candlestick patterns.

I personally prefer few patterns as i explained in my thread, and few bar chart patterns also mentioned there. Remember trading purely on candlestick patterns is a pure suicidal, you need to understand prior trend and point where pattern appearing.

Few patterns like outside bar we called in bar chart, for example signifies a good institutional buying if occured on good volume.
Many traders focus on some of pattern they are comfortable with.

Last point is read everything with pinch of salt, on web many experts are self proclaimed and they dont trade, but found preaching everywhere...

 

[Raj232]

Thanks everybody for posting such good charts. I also saw one good chart on blog rbroy01.wordpress.com showing the Nifty buy sell signals, Also it is posted, SBI best indicator as well as Reliance and other charts, intraday, etc, etc.

Is there any website which will provide these charts ?
Raj