Charts for the Day

[anil_s_trivedi]

Looking good, a good bounce if overcame marked supply zone bounce may continue till 83/90 zone..

 

[dashr]

Sukhani was saying Jain Irrigation has broken out of a double bottom pattern. How is that?

 

[mangup]

Looking good, a good bounce if overcame marked supply zone bounce may continue till 83/90 zone..

Thanks AT for the charts! can this charts be reduced in size 2 view them at a gance as currently need to move them horizontally?

 

[anil_s_trivedi]

Sukhani was saying Jain Irrigation has broken out of a double bottom pattern. How is that?

He may be talking about bottom on daily charts at 25th may and 4th june...on charts see two doji bars...

Infact if you know reading prices, then switch to monthly charts and see the real bar which triggered uptrend in JISL early got tested and it holds, thats a positive sign, if it holds it up...i would love to see a close above 79 on weekly to hace good upsides min till 95-98 zone...

 

[anil_s_trivedi]

Thanks AT for the charts! can this charts be reduced in size 2 view them at a gance as currently need to move them horizontally?

Thanks for your words of appreciation...let me see..right now i am uploading for 19' monitor, will try to shift to 15' monitor...lets see..if it works...

 

[Esse]

Hi Anil,
I am attaching a weekly chart of icicibank. I think it is a triangle formation. Would like to have you opinion on the same as well as the stock for 1 month perspective. Also the second last candle would be a hammer I suppose.
Thanks

 

[anil_s_trivedi]

• 
  Overall flow is down,and also the run up from 115-27 got corrected in fewer bars
  
  Price hold earlier pin bar support, now bouncing off, need to close above 2 day prior close to have a strength test
  119.5 a stiff resistance seems to be in place
  On downside 110 level is warning of weakness creeping in confirmed
  Important point to remember, as our vigilant member 'PRST' pointed out, it already formed bearish engulfing
  The case i posted this chart, is to follow up our discussion and to check how markets react, to learn something in store

 

[mangup]

Hi AT,

Now it's better.
Can u pl explain the term reversal bar? Is there any identification, trading rules?

 

[anil_s_trivedi]

Hi AT,

Now it's better.
Can u pl explain the term reversal bar? Is there any identification, trading rules?

hi,
thanks..yes i will explain it with a post on it...by the way if you are inclined towards price action, then see my thread... i am about to discuss price bar formations and reversal formations, there are many but i stick with few which i understand or rather easy to understand, and simple ones to spot on...i would recommend a good book on it

Read 'Martin pring on Price Patterns'...a good source of knowledge indeed in this book...

 

[anil_s_trivedi]

hi,Esse

• 
  yes your observation is correct its a triangle under development
  As far as trend is concerned short term UP, Int Term down and Long term too down

Crucial levels for any upsides is 875/945 and on downside 783

• 
  Possible demand-supply zone is marked on chart
  As far as trade initiation is concerned i will trade with these levels in mind, right now we are in between, so risk-reward not favourable to initiate trade