Charts for the Day

[anil_s_trivedi]

Is it advisable to initate Short positions if Nifty fails to move above 5560 and closes below 5550?

Dear prabhsingh,

No this levels risk-reward wise not favourable, bcoz where it will turn from difficult to tell.

Although 5520 is a crucial levels considered by many, i will refrain from. Until i see evidences of more bigger falls.

 

[anil_s_trivedi]

Nifty struggled yesterday at our stiff resistance zone of 5600-10 and fell off sharply, borken down at 5520-30 zone too.
Treat 5525-30 as first hurdle if crossed then 5560 zone.
On downside it seems one more testing of yesterdays lows is pending.
But one should not get carried away with, we will see our levels on upside too, if strength comes in or not.
sustaining 5500 is first sign of intraday strength and subsequent 5525-30.

In gist, 5525-30 first then 5560 till then its sell on rallies.

 

[Raghuveer]

12th is the Infy results.

...Its more of quantitative analysis, and less of technical.

Anil sir, any info on this would be highly appreciated.

Thanks.

 

[anil_s_trivedi]

As expected nifty resisted at 5526 and fall to test yesterdays low, and bounced back.
I was expecting market will test weak bulls, and will test y'days lows, it taken a good trade. Read how it sustained 5500, then it invited many to sit in and got resisted at 5526 (ours was 5525-30), to trigger their stoplosses set at 5500/ and y;days low.
This is smart money interference in the market.
It also crossed 5500 our intraday strength level then 5525-30 was swiftly crossed. Hourly closing was a good one. By looking at 5min charts it has shown a bottom in place.

Now hourly setup in +ve div mode, and if crossed and sustained 5560, higher rally this time.
First TGt should be 5600.

 

[anil_s_trivedi]

Anil sir, any info on this would be highly appreciated.

Thanks.

Dear Raghuveer,

I am not commenting on options trade possibility as it is asked by Esse, as i dont have any idea of trading in that way. It may be bcoz, i in my trading career almost 95% of the time, i used to sell options, and i used to trade in nifty only. No stock specific options experience for me.

I would like to state my technical readings, which is only what i have. In early analysis i already told momentum is down, and if breaks 2822-35 zone it will break 2800 and test lower. ideally around 2730 zone.
Infy corrected only till 2756, and todays candle may b a inside day.
On daily intermediate is still down and long term too falling down.
so any rally will take first resisted at 2875-80 zone. If it sustains then only upside, else it is sell around those levels.
Short term momentum trying to flatten out.

ON downside, weakness will creep below 2805-10 levels.

 

[Esse]

Hi Anil,
Kindly spare some time and give your opinion on Hindalco and BHEL. Investment horizon 2-3 trading sessions.
Thanks

 

[Bewinner]

As expected nifty resisted at 5526 and fall to test yesterdays low, and bounced back.
I was expecting market will test weak bulls, and will test y'days lows, it taken a good trade. Read how it sustained 5500, then it invited many to sit in and got resisted at 5526 (ours was 5525-30), to trigger their stoplosses set at 5500/ and y;days low.
This is smart money interference in the market.
It also crossed 5500 our intraday strength level then 5525-30 was swiftly crossed. Hourly closing was a good one. By looking at 5min charts it has shown a bottom in place.

Now hourly setup in +ve div mode, and if crossed and sustained 5560, higher rally this time.
First TGt should be 5600.

Hi Anil...
As nifty closed below 5560....though a marginal one...do u still hold the same view of first tgt 5600...only concern to me it could not sustain 5560 level...

 

[anil_s_trivedi]

Hi Anil,
Kindly spare some time and give your opinion on Hindalco and BHEL. Investment horizon 2-3 trading sessions.
Thanks

Dear esse,

I am posting my regular chart readings, hope it helps.
I dont have hourly data access, so unable to comment on lower timeframe.

 

[anil_s_trivedi]

Hi Anil...
As nifty closed below 5560....though a marginal one...do u still hold the same view of first tgt 5600...only concern to me it could not sustain 5560 level...

Dear Bewinner,

The way nifty reacting near 5560 it seems it enter into trading mode, and tomorrow may be sell near resistance and buy near support day.
On 5min it seems need a little cooldown till 5525-30 support zone, and then on upside 5600 a resistance zone.

 

[Bewinner]

Hi Anil..

Few days back u uploaded few charts...one of them was FINANTECH...can we enter it for long again?