Charts for the Day

[anil_s_trivedi]

Another Aggressive plays with +ve divergence and closer to price action supports.

 

[anil_s_trivedi]

Dear Friends,

We are expecting a support zone in 5605-10 levels and nifty did made low there and also with +ve div also spotted when nifty near to 5610 levels.
As of now, hourly reading are great, and its implying to refrain from shorting here.
Short term and intermediate is moving up with +ve divergence, and if long term too triggered up, then expect this rally to move higher till 5850 and higher levels.
Minimum expectation of this rally is 5760 zone.

A resistance zone is near to 5745-65 and it may halt here before moving higher.

A clear weak case below 5635 and watch for monday trigger level of 5670. Above it a strength and below it a weakness.

For monday,
5660 is a support zone.
Resistance at 5710-15, surpassing it may go upto 5745-65.

Option Trading:
One may initiate positions near to levels as spotted by us on thursday, when nifty is closer to support zone with a +ve divergence in sight.

I generally used to write puts of 5500/5400 near these levels, as risk/reward is good.
And with 20 points on nifty spot, these option stoploss will be 14-16 points, which is affordable.

So point is wait for good option setup and then grab it. One dont have to be in a compulsory trade always.

 

[anil_s_trivedi]

Nifty near our resistance zone of 5745-65 and our minimum expectation of 5750 also fulfilled.
Hourly still up, but 5 min overextending momentum with slower pace. Negative divergence appearing on 5min, it may correct till 5725 or more.
Below 5725 it will be a weakness till 5700 / 5650.

Will post after market hours for tomorrows strategy.

 

[mangup]

Nifty near our resistance zone of 5745-65 and our minimum expectation of 5750 also fulfilled.
Hourly still up, but 5 min overextending momentum with slower pace. Negative divergence appearing on 5min, it may correct till 5725 or more.
Below 5725 it will be a weakness till 5700 / 5650.

Will post after market hours for tomorrows strategy.

Lekin Anil Bhai 5 min ka -ve divg hamesha fail hota hein !!! I think we should wait for more confirmation for reversal.

 

[anil_s_trivedi]

Lekin Anil Bhai 5 min ka -ve divg hamesha fail hota hein !!! I think we should wait for more confirmation for reversal.

Dear mangup,

yeah you are right, div in 5min are prone to failures. But what i suggested is for part book, real weakness on intraday below 5725 only.

The closing as of today is a strong one, if its a good upmove it may clear 5765 zone with gapup, then its a precursor for a move till 5850-60 minimum.

Hourly trend is up and daily short term is too UP.

This week will be testable, bcoz weekly trend is down and if it wants to move up it need to have stronger close of above our resistance zone of 5860.
will it achieve it or not, no point in guessing.
Remember this is a start of month, and real action always came in last.

Remember in February, we analysed market is sideways to down. And in March start it moved up, then in middle it monthly (higher timeframe) came in picture and reasserts is pressure for down, and we again closed in march with trend of sideways to down.

So if its a trend change to upside, it will first daily UP, then weekly UP and then finally this month may take monthly too UP.
So as of now, daily today got good closing but momentum wise its a short term UP on daily, and i will wait for intermediate to move UP.

In gist watch near 5645-65 here, on downside 5725 for intraday weakness, positional weakness below 5650 only. On upside if cleared 5760 zone higher chances of testing 5800 / 5860

Resistance at 5950-60. if cleared it may test jan highs.

 

[Esse]

Bang on target. Anil, your analysis esp of the nifty has been exceptionally accurate since the last month. This is not to mean that it is not accurate otherwise. I mentioned last month exclusively because it was a month of uncertainity and polarised opinions. :thumb:

Great job.

Thanks and regards

Nifty near our resistance zone of 5745-65 and our minimum expectation of 5750 also fulfilled.
Hourly still up, but 5 min overextending momentum with slower pace. Negative divergence appearing on 5min, it may correct till 5725 or more.
Below 5725 it will be a weakness till 5700 / 5650.

Will post after market hours for tomorrows strategy.

 

[anil_s_trivedi]

Dear Friends,

Nifty struggled to move above 5750 yesterday and also cleared 5725 on way low in morning, but hovering around it till midsession. Afternoon session witnessed breaking it decisively and our intraday targets was 5700 / 5650.
When everyone shouting 5900 near 5750 it is upto you read price action, does it support as of now. I always said strength is reflected when market holds of previous day high with good respect, and once it failed it is weak case.
Frankly didnt expected that much weakness till 5650, but market always throw surprises.

As of now, hourly trend is down and in hourly i see no bottoming process. So hand down as of now. In 5min too no bottoming process, until it shows 'v' shaped recovery. On daily, short term up, but as i said until i see intermediate UP, i will always suspect the rallies, this was clearly told in previous posts.

What next..???
Our higher timeframe supports placed at 5600-10, and this time it will be testable, if fails to hold lower lower levels will be unavoidable.
On intraday basis, first sign of strength will be sustaining 5636 level, on positional front i will be comfortable only above 5660.
So as of now with downtrend look for resistance near levels mentioned.
I already mentioned whenever it will try to clear upside resistance, higher timeframe weakness remind itself that it is sell on rise in play.

So trade wisely, dont go overboard.
Will inform if good setup in wait, till then happy trading.

 

[timepass]

Thank you for you analysis, Anil.

 

[Bewinner]

Yes Really appreciable analysis Anil...Thank you boss giving such nitigrity detail...after reading your post future picture becomes somewhat clear...though I made mistakes even after them..but really hats off to u...

 

[anil_s_trivedi]

NS: 5540
A Short term bottom seems to be in place in 5min charts, need to see hourly.
For aggressive players this is zone to get in with a little stoploss.

A momentum divergence too coming in, watch it.
Positional strength above 5575, intraday strength will be seen by holding 5550