Charts for the Day

[Trade_Easy]

Anil ji,

Sorry for troubling you again & again. Spoted a intraday setup on 10 day hourly chart infact one of my favorite trading tool but Please look at the daily chart thats the area where i need guidance booked 50% can i carry forward the rest Daily is a tricky game for me. Please guide :0

 

[Trade_Easy]

Jindal Saw waiting for the pull back on daily i hope am right here ?

 

[anil_s_trivedi]

Anil ji,

Sorry for troubling you again & again. Spoted a intraday setup on 10 day hourly chart infact one of my favorite trading tool but Please look at the daily chart thats the area where i need guidance booked 50% can i carry forward the rest Daily is a tricky game for me. Please guide :0

If trade taken while considering short term quick gains one should follow the plan... Trading on daily chart required a patience to sit tight and discard all day to day news and follow price only...

Take the trade and trail it or have target based on pattern(if any) projections...As trading on daily require some flexible room for stoploss..it may vary from 3%-8% on the trade...

TVS going good breaking out with above avg volumes...If i am into position for intermediate term considering daily charts i will cut my position with price closing below 690 levels...

 

[stoch]

Nice advice will try to follow it in my trading with Hotforex

 

[manoj2012]

Anilji,

What is your view on Vedanta.

 

[anil_s_trivedi]

Anilji,

What is your view on Vedanta.

Manojji,

VEDL is in uptrend on weekly charts...on daily it made lower high-low...so yes going sideways to down here...There is a resistance zone at 320-325 so buying on strength will work at these levels only...

On lower side, crucial support at 275-280 zone...If prices makes lower low below 295 then i will lower my stremgth above levels from 320-325 to 300-305 levels...So one can go into position at those levels...

 

[anil_s_trivedi]

Manojji,

VEDL is in uptrend on weekly charts...on daily it made lower high-low...so yes going sideways to down here...There is a resistance zone at 320-325 so buying on strength will work at these levels only...

On lower side, crucial support at 275-280 zone...If prices makes lower low below 295 then i will lower my stremgth above levels from 320-325 to 300-305 levels...So one can go into position at those levels...

On Monthly we are forming a bearish bar...implying reversal/rest coming in..??

 

[anil_s_trivedi]

Nifty trading below 21 DMA on daily... now 10270 is crucial zone in coming days...50SMA on daily is at 10180...
Price below 10270 is a weak case...

 

[manoj2012]

Anilji,

What is your view on Tata Steel ?

 

[anil_s_trivedi]

Anilji,

What is your view on Tata Steel ?

Manoj ji ,

Tatasteel still into uptrend on long term...While short term already into downtrend....although intermediate is getting weakness spreading all over... and i am positive only if stock hold back levels of 694-700 zone...

On lower side support zone is at 640-645 levels...Below that high chance of testing sub 600 levels...