Charts for the Day

Good work clap.. clap...
but i think no bigger up trend on this stock for now. in my view its ahead more lower low and lower high . and also we concern nifty on correction mode.
strong resistance @ 550
support @ 460-430
 
Hi,

This is my first post on traderji .If i made any mistakes please let me know.Also, I thought this is the best thread to share this.

Stock:-LIC HOUSING FINANCE

MONTHLY:-

LICHSGFIN is falling for last 8 months.Two things were common in those 8 candles.
i)None of the candle crossed previous candle high.
ii) open of next candle is in previous candle's body.

But this time candle opened below previous candle's body(so i think this candle gonna be different).
Also low made was at 476 while 50% fib of nov2013 low to all time high lies around 475.
While 38.2% of all time high(794) and low (4.5) lies around 492.

View attachment 24295




WEEKLY:-
In weekly chart it formed a perfect abcd.
Also 200 weekly sma lies at 503 currently trading at 513.

View attachment 24296



DAILY:-
In its entire downtrend stock was resisted by falling trendline.
Or we can say 4 hourly 89ema. View attachment 24298

A break of trendline can turn into a sideways or start of uptrend but a successful break of ema and trend line should indicate that a short term bottom is in place.

Any feedback or suggestions.


Thanks & Regards,




Lic housing finance is in downtrend but near to crucial S/R zones of 490-510 levels...The recent selloff was on bigger volumes, but still stock bounced back above with healthy upside volumes...notable this region of below 540 levels attracted good selling volumes, also looking at daily charts if stock able to crossed this zone of 530-545 upside can be seen...

There are stocks which are already into uptrend making HH-HL, while there are some which are in process of holding S/R zones from higher timeframe charts...choose your stock wisely and allocation too...returns will be different in both scenarios...
 
Nifty yesterday closed below 200 SMA, which is not good for bulls...Today it opened gap down below yesterdays low but moved back into yesterdays range in morning opening minutes only...This is positive development in very very short term...Since it is still below 200 SMA which is placed at 10165 levels...

We tested S/R zone of 10050, more we sustain below 200 SMA more chances of deeper correction this time...Although there is a +ve div appearing in momentum indicators but unless prices confirmed it, wise to play with the ongoing trend...
 


Nifty taken support at 200 SM/40weekly SMA...intermediate wise we got into downtrend...As time to time we analysed the support region of 10140 as marked on chart validated its significance...

Sustaining above 10270-10300 will test towards 10350...above that high chances of testing daily 50 SMA at 10600 zone...

A heavy volume buying required to pass this zone of 10450-10600...Lets see what coming week unfolds...
On course it seems to test the levels noted earlier...Lets dont rush in to buy...let the setup buildup in your stocks then only get in...you will dont get reward for jumping in-out...but what matters is profit at end of month/year...

Many analysts are suggesting but the dips right from top they are now into hibernation mode...So be kind with your hard earned money and stay on course with your strategy dont let emotions to come in to distract you...