Charts for the Day

anil_s_trivedi

Well-Known Member
#17


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  • It seems USD-INR marked short term top, and now a corrective leg is on, need to watch closer to 55 levels, although momentum indicators are saying a corrective action in progress, prices need to break 55 for greater confirmation
    Ideal first TGT should be 53.5-53 zone
    Watch ADX peaking out with +DMI divergence and -DMI also cleared above its recent peak with great length, so this are signs of retracing pattern(on chart it is wrongly shown plz spare me for this one)(REad chart as red is +DMI and green -DMI)
 
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anil_s_trivedi

Well-Known Member
#19


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  • Many foreign brokerages distributed reports of buy with higher targets on stock
  • For retail as per my view its in a watch category, jumping early may be dangerous here
  • Why RSI still at oversold levels and wait for atleast 10 DMA reaction to assess strength or weakness
  • Till that time it will be a bounce only
  • I love to enter such stocks when they trade above 50 and 200 DMA above, but here prices are a way below 50 DMA
  • or another oppurtunity to enter is a simple 3x6 crossover, and possible Targets zone as 50 DMA
  • so ideal is wait for setup, before jumping the gun
  • keep the powder dry