Long or Short Opinion

[rajputz]

CANBK - SHORT

Looks like shorting opportunities can be there for Canara Bank. The Pivot Low was broken in the positive market Friday. Also the CCI is suggesting the down momentum. Stochastic and RSI are also showing the nice fall.

Although it has shown momentum to downside, but still in good market condition it can hook up. cause i havent got any signal from CCI for its downmove. The current position of CCI can also change into GB100 for trend continuation to upside, if price bounces. But for now it is down. Major support of 20 and 34 EMA are also broken. Going long would only be good above 426. Otherwise down side is more prefferable below 419.

Check the charts: -

 

[rajputz]

Hindunilvr is also looking weak in the current market. CCI formed a small ghost on daily chart, which was repected on last friday in the positive market(up rally). Stochastic and RSI are also currently pointing the momentum to downside. As long as it is trading below 230.50, I dont think that we can go long. Major resistance lies at 235 though.

I was just studying some experimental method of MFI. and just checked hindunilvr over that also. That is with volume increase and MFI green, which means both atleast 10 percent greater then previous bar, we should sail in the direction the bar has gone. In this case it is red. lets c if this method is worth. . Oh and do check if by any chance it is a bearish wolf wave.

 

[rajputz]

is chart helpul for day traders
any one here trading with charts and making profit in day trading

Alot.

But it depends from strategy to strategy. Like i was thinking about your strategy and didnt feel like that you need charts for it. All you need is your previous days high low.

The way i do, i need charts. Cause i check on various things before taking a intraday position, Although i do it rarely.

People are here working with stochastic, RSi to trade intraday, Some dont even need charts, Just catching the trend using higher bottom, lower tops, some use woodies cci alone, other might be prefering bollingers plus rsi. IMO, it totaly depends from personality to personality.

P.S. - I am trying to paper trade your strategy from tomorrow. it looks quite interesting widout charts. lets c. Will post here.

 

[rajputz]

Siemens - Short

i was checking the chart of siemen. I found it really weak at the current moment. Shorting can be done. Please check and leave the opinion.

Here is the chart: -

 

[rajputz]

BPCL is looking good for doing an intraday trade tomorrow morning. Although it is giving good signs of positive movement in the negative market, but still holding the overnight position at this time is little contradicting.

CCI for BPCL has turned positive again, with nice hook on Stochastic and RSI, suggesting further upside move. Price also closed above the pivot high of 556. Trading opportunity for intraday might come near 556 for with stoploss at 548 for first target of 567 and second target of 573. But only on the evidence of taking support at 556 and bounce back.

High made till now 568...first target achieved....

 

[rajputz]

One of the worst movement i have seen by any share till date is maruti and NTPC. maruti where falls in the positive market and rises in the negative market, (although i can fix according to it), NTPc is a alternate day share. One day it is up and other day it is down. Dont know how are they listed in NIFTY. no Contradictions....

 

[simple_trader]

NIFTY future intraday support seems to be around 4950. In case, we do not get support then it can fall to next support at 4850 around. Fingers crossed.

 

[simple_trader]

NIFTY future intraday support seems to be around 4950. In case, we do not get support then it can fall to next support at 4850 around. Fingers crossed.

Market fell non-stop. :clapping: slight change in support level. 4880 NF is support. Better to take intraday profit of every short positions and go home.

Happy trading!

 

[simple_trader]

Dear rajputz,

Please let me know if you find any swing trading opportunities in ACC.

thanks!

 

[rajputz]

Canara Bank and Hindustan Unilever Daily Charts for today: -