Charts for the Day

[anil_s_trivedi]

Anilji,

Please post your view on Hind Copper & Hind Zinc Please.

Hind copper in uptrend, earlier looking like a flag but consolidated a bit longer so ruled out flag formation...consolation is heavy volume on down bars still not coming in...Stock making HH-HL in uptrend...positive as long as holding 89 levels...With trading above 99 levels positive for stock...

Hind zinc in uptrend making HH-HL in weekly while daily is going sideways since october...Lower crucial support at 285-290 levels...while short term negative below 300 only...all levels closing basis...Overall up as long as holding above levels...

 

[anil_s_trivedi]

Dear Anil ji
Wishing you a very happy, healthy and prosperous new year 2018!!!!

Since I am gone back to professional life after a great break, missing this thread. Nevertheless, I try to read your writings whenever I am on traderji. Spot on your post no 3863 !!!! smart analysis to keep investor/trader cautious...Keep up on your good work.
I do belive that your portfolio is doing great and mine is average of 30-35% return for preceding year though many fund managers, investors and traders claim between 60 to 80%. I really wonder how they are doing??? However I am happy with whatever I got

Dear insursi,

Thanks for your warm wishes...and for words of appreciation...30-35% return is good not bad...never compare your returns with other but only with markets...bcoz if you are generating 30% return year on year you are compounding at great speed...dont bother yourself with managers generating alpha for year or more...

You had consistency then its good...try to maximise on winning positions...

 

[anil_s_trivedi]

2018 doesnt seems to be a fun ride for bulls/bears...both camps will strike regularly..and hell of a volatility coming in...trade cautiously...

 

[samur]

anilji , please post your view on gitanjali gems for medium to long term.

 

[anil_s_trivedi]

anilji , please post your view on gitanjali gems for medium to long term.

Samurji,

Gitanjali witnessed a bumper ride in november then a fall to the earlier lows in december...Stock climbed back above 50 SMA yesterday...

Price holding zone of 76-78 is positive for stock in near term...can test towards 95-98 zone...Sustaining below 76-78 zone not good for stock...
Below 68 levels can test towards 45-46 levels...

Try to go for stock with clean charts where trend is easily identifiable...

 

[samur]

Samurji,

Gitanjali witnessed a bumper ride in november then a fall to the earlier lows in december...Stock climbed back above 50 SMA yesterday...

Price holding zone of 76-78 is positive for stock in near term...can test towards 95-98 zone...Sustaining below 76-78 zone not good for stock...
Below 68 levels can test towards 45-46 levels...

Try to go for stock with clean charts where trend is easily identifiable...

thanks anil sir

 

[anil_s_trivedi]

Raviji,

Chart is made to indicate the levels...the levels also coincides with 20/50 smas...offcourse MA's will rise in time to come, but the S/R zones levels will be there...Its a levels where earlier lot of effort gone to clear the zone, bulls need to hold it...

Nifty corrected till 10404 holding 10370-10400 levels made new high today...Today we opened gap up and holding morning lows as of now...Any breached in morning lows will be not good in short term...

On daily weakness below 10500 levels only...While intermediate weakness still below 10370-10400 only...Strong above average volumes missing in this run of gapping up and closing higher...

On weekly charts closing of 10558, we managed to close near previous weeks close of 10530 levels...despite selling in start of the week but follow up missing on downside to breach 10370-10400 levels...

 

[anil_s_trivedi]

Today nifty opened gap up at 10645 level...Ideally it should sustain above previous days high zone of 10630 levels...sustaining below 10630 is not good for bulls in short term...

 

[anil_s_trivedi]

Identifying a top is a a difficult and futile game, but we as a trader can frame our rules for weakness parameters...What is we called downtrend is lower high lower lows...

What will be first sign of weakness, sustaining below previous day/week lows...Absence of buying volume on up rallies and slightly greater volume on down bars in very timeframe...

Breaking 2-3 days lows is again a weakness sign for swing traders out there...

Failure to sustain above previous day/week high is again a short term weak scenario...

Look out for clues but for gods sake dont go into prediction game, you may succeed once while predicting but will surely loose discipline to assess situation on its merit!

 

[anil_s_trivedi]

Equitas making higher high higher lows marching ahead with volumes coming in...Seems a good play for long term...Levels on the chart..

jindal saw after relentless run, a resistance zone coming in at 175-177 levels...Mind you its a monthly chart..