Charts for the Day

[anil_s_trivedi]

Havells again a sign of loosing steam...too much volume going on...longs be cautious here...

 

[vijayvn02]

Suggest one good software for stock futures

 

[anilnegi]

HDFC bank today formed a reversal bar...although not a stringent one, as it requires open above previous days high...but still it add relevance here...

Anyways longs be cautious now...

I think we need confirmation for 1-2 more days, also it doesnt look like inverted hammer, anil ji

 

[goodfriendshanthosh]

LT looks positive , buy aft 1315 day trade

 

[anil_s_trivedi]

Bata stoploss Raised to 565...

S/R level on intermediate charts coming in at 620-625...

I am out of Bata @ 572.5

So no positions now in this scrip...

 

[anil_s_trivedi]

Just posting my Bata trade...where we trailed and where we booked profit in it...

My first 50% booking now seems just too early jumping out of sheep, when its ready to take off...anyway at that point i am more concerned about profit keeping...Actually it had long term Resistance trendline broken so ideally i need to hold it...

But this was initially a swing trade for me...and right from start my expectation was to test those S/R zone of 570-575 one...

when trend gets reversed it ideally travel till crucial S/R zone get tested to check supply still there or not...

Yesterday i got out, as hourly chart broken trendline support of past 5-weeks or so...also the volume upspikes on hourly is not materializing in run up...

 

[karthik_sri]

Anil Ji...
Need your advise on IDBI Futures chart...
The price was moving higher and the volumes are getting dropped and finally a bull candle at the top with increase in volume. Is this climax candle for the uptrend and hinting a down fall? Is my observation right? Pls guide

 

[anil_s_trivedi]

Anil Ji...
Need to your advise on IDBI Futures chart...
The price was moving higher and the volumes are getting dropped and finally a bull candle at the top with increase in volume. Is this climax candle for the uptrend and hinting a down fall? Is my observation right? Pls guide

Dear Karthikji,

First go on weekly mark some s/R lines..there is one s/R line coming in at those level from weekly...

Secondly, now condition is if there is a uptrend in progress...as it is going on in IDBI and if we get too much volume on up bar near to such crucial s/R zones...then you should be on alert...some big hands are in it...

Now, after such huge volume either stock need to run up or go sideways for few days before breaking that S/R zone...

Here stock gone sideways, with below average volumes...Again on 17/18/21 dec-2015 stock had above avg volumes in upbar but follow up missing...now the structure for distribution is clearly seen...

Rallies are failing...so weakness is coming in...on 4th Jan-2016 it breaks the range of two weeks consolidation...This is where real breakdown happens...


So in short, one should not ignore such high volume bars at crucial S/R zones...and if that S/R zone coming in from higher timeframe then it importance is much greater to be considered...

 

[anilnegi]

Just posting my Bata trade...where we trailed and where we booked profit in it...

My first 50% booking now seems just too early jumping out of sheep, when its ready to take off...anyway at that point i am more concerned about profit keeping...Actually it had long term Resistance trendline broken so ideally i need to hold it...

But this was initially a swing trade for me...and right from start my expectation was to test those S/R zone of 570-575 one...

when trend gets reversed it ideally travel till crucial S/R zone get tested to check supply still there or not...

Yesterday i got out, as hourly chart broken trendline support of past 5-weeks or so...also the volume upspikes on hourly is not materializing in run up...

Anil ji
Some of question arises in mind seeing your chart, pls reply in your free time

1. You are trading hourly (any specific reason) i.e not daily or not weekly,
2. you keep sl normally 10-20 point away from swing low, how u calculate the points
3. You have booked certain profit at different level why when you have your sl in place
4. Any other open position you have apart from BATa

thanks

 

[karthik_sri]

Dear Karthikji,

First go on weekly mark some s/R lines..there is one s/R line coming in at those level from weekly...

Secondly, now condition is if there is a uptrend in progress...as it is going on in IDBI and if we get too much volume on up bar near to such crucial s/R zones...then you should be on alert...some big hands are in it...

Now, after such huge volume either stock need to run up or go sideways for few days before breaking that S/R zone...

Here stock gone sideways, with below average volumes...Again on 17/18/21 dec-2015 stock had above avg volumes in upbar but follow up missing...now the structure for distribution is clearly seen...

Rallies are failing...so weakness is coming in...on 4th Jan-2016 it breaks the range of two weeks consolidation...This is where real breakdown happens...


So in short, one should not ignore such high volume bars at crucial S/R zones...and if that S/R zone coming in from higher timeframe then it importance is much greater to be considered...

Anilji,
Thanks...Request if you can post the Chart of IDBI with your above comments (when you are free) to get visual feeling!