Charts for the Day

[anil_s_trivedi]

Symphony is sitting at 200 SMA on daily charts and on weekly just holding long term support line...risk reward in favour for longs here...

 

[lemondew]

Cdnt quite understand on smaller timeframe. There has been buying in 2nd half last 2 days. Today some selling in last 30 mins. This one is 30 min chart

Just my observation on ONGC...stock in downtrend...below 200 SMA...

Stock opened today below previous days lows and now trading above the previous days lows...this is first sign of strength on intraday timeframe...closing above previous days close now will get added second sign of strength as reversal bar...

Trading below previous days lows will be a weak sign again...

 

[anil_s_trivedi]

Cdnt quite understand on smaller timeframe. There has been buying in 2nd half last 2 days. Today some selling in last 30 mins. This one is 30 min chart

I see more it as intraday buyers selling towards the end...if selling pressure was real it might have closed below 167.8 levels previous bars highs...

Short term strength has seen in todays bar...next test might be towards 50 SMA 177-178 zone...

 

[lemondew]

Just at or below the support when there is zip on your side its makes a real good entry.

Symphony is sitting at 200 SMA on daily charts and on weekly just holding long term support line...risk reward in favour for longs here...

 

[lemondew]

Post mortem for reliance. Reliance gave good moves for a swing trader this expiry .

I am also keen to see how other stocks which we have been talking about tcs ,tatamotors, infy ends this expiry. :clap:

Reliance like yesbank . It has reached the breakout point 24th high. Unlike yesbank no buying today at that level. Lets c tomorrow whether it follows the copybook uptrend definition. So now reliance has done 60% of what yes bank has. But the risk in our profession is last 40% still cant be predicted with any certainty :annoyed: :annoyed:

 

[lemondew]

I am getting a feeling charts speak in a way which words cant convey. That makes this thread of charts special

 

[anil_s_trivedi]

Those who are holding ibrealestate, significant volumes coming in today...already had great run up in the stock...

Now time to test towards 50 SMA in sight...

 

[anil_s_trivedi]

BPCL breaking the channel and 200 SMA as well...stay away until stock balances above 200 SMA...

 

[anil_s_trivedi]

 

[anil_s_trivedi]

GHCL getting weak below 200 SMA...more it sustains a more prone to weakness...