Charts for the Day

[rangarajan]

AxisBank:
Hourly in downtrend strength above 416 only...
Daily up support at 396 levels...
Keep 396-404 as excellent support for the week...

hourly on SAR is down strength only above 15230 zone...

anil Trivedi,
For a change, i am going to rely on nos besides indicators.

If Axis closes <311 on EOD, the stock certain to come near its Sup 398 where one can go long with strict s/l close below 398 on eod.
The R/R will be worth the Long

In that case, i see a Rest at 432/466.
The worrying factor is Gap bet 393-400.
But, there is also possibility for it to c 432.
Which will come first?
close < 398, s 390/385

Today, it gave me an opportunity to exit

But what r the levels on which i rely & posted here.

By the way, Justdial took a good beating today.

 

[rangarajan]

anil Trivedi,

Justdial

On 4/3 stock closed above 3 month T/L with vol.
Momentum was still in O/bought & strength for up trend was reasonably good ( ADX 35)
Of course, on weekly, its High just touched the T/L, vol again good.

But weekly ADX was low 15 suggesting Horizontal & lakh of trend where i prefer trading with Stochastic.
Again K>d, not suggesting deep fall

Still stock took a beating & formed Bearish engulf.
In the process, it breached imp Fib no 665 & closed below it.
Again good vol in fall.

Pl discuss yr views.

 

[anil_s_trivedi]

anil Trivedi,
For a change, i am going to rely on nos besides indicators.

If Axis closes <311 on EOD, the stock certain to come near its Sup 398 where one can go long with strict s/l close below 398 on eod.
The R/R will be worth the Long

In that case, i see a Rest at 432/466.
The worrying factor is Gap bet 393-400.
But, there is also possibility for it to c 432.
Which will come first?
close < 398, s 390/385

Today, it gave me an opportunity to exit

But what r the levels on which i rely & posted here.

By the way, Justdial took a good beating today.

Dear Rangarajan,

Axis bank is sell on hourly as of now for me....Now we know daily is Up, so we will try only near good support zone, where even if we are wrong Risk would be bearable...

For me, EOD closing below 395 is weak for this stock....Now matter is, it will correct how much...

Seeing hourly charts, it seems 402-405 is good support zone...

 

[anil_s_trivedi]

anil Trivedi,

Justdial

On 4/3 stock closed above 3 month T/L with vol.
Momentum was still in O/bought & strength for up trend was reasonably good ( ADX 35)
Of course, on weekly, its High just touched the T/L, vol again good.

But weekly ADX was low 15 suggesting Horizontal & lakh of trend where i prefer trading with Stochastic.
Again K>d, not suggesting deep fall

Still stock took a beating & formed Bearish engulf.
In the process, it breached imp Fib no 665 & closed below it.
Again good vol in fall.

Pl discuss yr views.

If selling not severe then a good support zone at 570 zone...Else can go lower till 510-520 zone too...which i think should hold in anycase for further rise...

Stock corrected from a good S/R level of 770....and volume was good on fall, so raising suspicion about this scrip now...

 

[karthik_sri]

CAIRN weekly chart...will this move further!

 

[rangarajan]

Coal India:

Daily support at 303-305...
Weekly still in Sell mode, 325-326 a good resistance zone if overcame, can go higher...
Investor looking for long term, needs to watch 350-360, above it can go higher...

On hourly, in Sell mode, strength above 315 only...Sustaining above 315 will give early indications of strength coming in...

..

anil Trivedi

Coal India, what r the levels to look if one wants to Buy or it is to be avoided in the near future as written by u above till 315/350 surpassed.
Today quoting exdiv

 

[anil_s_trivedi]

anil Trivedi

Coal India, what r the levels to look if one wants to Buy or it is to be avoided in the near future as written by u above till 315/350 surpassed.
Today quoting exdiv

As from our earlier analysis, long term positive only above 350-355 zone...For intermediate plays, strength above 315 levels only...

More strength above 330 zone...

For very short term, it can go sideways as of now...

With going ex-div it created a gap area, this need to be watched carefully...It may be possible...

 

[rangarajan]

As from our earlier analysis, long term positive only above 350-355 zone...For intermediate plays, strength above 315 levels only...

More strength above 330 zone...

For very short term, it can go sideways as of now...

With going ex-div it created a gap area, this need to be watched carefully...It may be possible...

anil Trivedi

When you find time, pl explain Bolded lines w r t how to trade & what to look for

 

[mindgames]

Dear Anil, based on your experience - is it usual for stocks to gap down / open lower when dividends are declared? Does this happen on the record date? Because i was wondering that it may be a good idea to short such stocks in the futures market....

 

[anil_s_trivedi]

anil Trivedi

When you find time, pl explain Bolded lines w r t how to trade & what to look for

Dear Rangarajan,

On spot coal india created a gap, now i am just quoting in reference to general gaps, this zones will act as S/R zones ahead...