Charts for the Day

[anil_s_trivedi]

BRFL one of favourites of operators...the pump & dump stock of 2017...suckers still getting into...

 

[iwillwin]

Sir views on nifty/BN

 

[anil_s_trivedi]

Sir views on nifty/BN

Current rally doesnt seems to be a broad based...In above charts watch the pain in midcaps and smallcaps still not done...while nifty is purely running on large caps and banking stocks...

As nifty is above 21/50/200 sma its in uptrend...First sign of weakness can be seen only below 10700 levels...

Bank nifty too in uptrend, again till 26050 not taken out on downside its up only...

With earning season going on and elections results due next week....expect the rangebound action...

 

[anil_s_trivedi]

Metal pack struggling below 200 sma...With leading names below key moving averages its important to watch the pattern unfolding here...as more it stays below more the pain in coming days...

Importance of staying with leaders is clearly seen, watch jindal steel and jsw steel outperformed the metal pack...

 

[timepass]

what's metal index saying about its 200DMA ?

 

[anil_s_trivedi]

what's metal index saying about its 200DMA ?

BSE metal trading below 200 sma since start of month...Below may lows more pain in the corner...As almost 2 weeks its trading closer to sma with acting as resistance and if lows of this consolidation goes away, pain will be sure...may be till april lows...Breaking those(april) lows is like throwing party to bears...

 

[ravi2126]

Anil"ji your view on rain ind..?

 

[anil_s_trivedi]

Anil"ji your view on rain ind..?

Rain industries breached key levels of 300-305...Got oversold on daily charts probably a bouncing candidate only...A bounce till 275 levels...at best till 300 only...above 300 chances of intermediate trend up..else its a sell on rallies...

On lower side support at 200-195 levels below that 150 levels only...

For classical chart pattern lovers its a H&S break, but the levels are too low around 125-130 levels...so avoiding that for now...take a step at a time...Keep levels for bounce 275 and lower support of 200 as a range till stock gathers strength...

 

[anil_s_trivedi]

Many Auto sector scrips trading below 200 SMA...Maruti, Bajaj auto,eicher motors, TVS motors, Heromotors, Tatamotors, A few names like Ashok leyland and M&M still above 200 sma...

Overall if scrips sustaining below 200 sma is bad in intermediate term(6-9 months) going forward ...

 

[anil_s_trivedi]

Stocks hitting 52 weeks high - 5
Stocks hitting 52 weeks low - 215

Seems real shit is going to hit sooner...