Charts for the Day

[anil_s_trivedi]

Anilbhai, looks like Banknifty spot had a 50 x 200 SMA today. Any comments ?

Yes, i likely crossover in technical books parlance a 'death crossover'...But as long as prices holding 24865-24900 zone its safe for bulls...below that it will be a problem case for bulls...

In daily charts a first higher low formed and the current fall will tell whether bulls have appetite to hold earlier higher lows of 24064 levels...

It seems more choppiness ahead than clear trend...let this earning season tells us where to bend the curve...

 

[sanju005ind]

Yes, i likely crossover in technical books parlance a 'death crossover'...But as long as prices holding 24865-24900 zone its safe for bulls...below that it will be a problem case for bulls...

In daily charts a first higher low formed and the current fall will tell whether bulls have appetite to hold earlier higher lows of 24064 levels...

It seems more choppiness ahead than clear trend...let this earning season tells us where to bend the curve...

Saturday is HDFC Bank Result which will be a major turning point for BankNifty.

 

[anil_s_trivedi]

Biocon stock in uptrend consolidating since past 3 months...Results due next week...Short term weak below 600 zone...

 

[anil_s_trivedi]

Nifty pharma at crucial support...

Nifty pharma made bottom the same day and running up since then...Going sideways and then probably gone to test 200 SMA...

 

[timepass]

Nifty pharma made bottom the same day and running up since then...Going sideways and then probably gone to test 200 SMA...

That "crucial support" was at the previous pivot. Was that basis for your observation ? This sounds like bottom fishing. I thought such a trade would be a risky one for you ?

 

[anil_s_trivedi]

That "crucial support" was at the previous pivot. Was that basis for your observation ? This sounds like bottom fishing. I thought such a trade would be a risky one for you ?

Yes, previous pivot support zone plus volume supply is not coming in on downside added the confirmation....But yes, it was like bottom fishing, i hardly take such trades...it was just posting ones observations...

I never touch such blind trades, until stocks is in confirmation of uptrend or in initial stages of uptrend i initiate position but this was surely a risky venture out there...

 

[anil_s_trivedi]

Good volumes coming in sugar stocks today many small & midcap names closed with 2-3% plus...After relentless fall, a bounce on cards here...Whether the bottom is in or not, dont know...but sector seems to be undergoing a change here...

 

[anil_s_trivedi]

Mindtree witnessed upward rally since september 2017...the recent rise after a sideways pause in march is almost a vertical shape...implying stock is much sensitive to fall in this leg...Too much volumes coming in stocks...its time to cool off the rise...

 

[ravi2126]

 

[anil_s_trivedi]

Paint stocks asian paint moved up, berger moved up..now its time for kansai nerolac...group effect...keep an eye...