Charts for the Day

[anil_s_trivedi]

 

[prst]

bro,

thanks for your useful guidance on this thread..

wish you and your family a happy diwali..
may God bless you..

 

[rajasree1]

Anilji pl discuss abt the two - DLF and BHEL.
Are they at accumulating Zone!!!
Expecting your valuable comments.

Thanks.

 

[anil_s_trivedi]

Dear Rajasree,

Your question heren 28th october
http://www.traderji.com/technical-analysis/69380-charts-day-25.html#post735873

My earlier reply was:
http://www.traderji.com/technical-analysis/69380-charts-day-25.html#post735885

Dear Rajasree,

Please dont call me sir...call me anil only..will do..

From weekly charts, it broken downtrendline and retesting going on, so need to watch closer this week. If sustained a rise is due. Also we are closer to rising trendline from june 2012 lows. 50 weekly SMA is turning flat. So a rise got controlled here.

Shifting to daily charts, as it seems prices reteraced close to 80% from lows of august and almost 61.8% nearby from lows of june 2012. So its a good support zone of 198-201 zone. 34 SMA is still rising, so the trend is still UP as of now. Prices now consolidating at 200 SMA.

Inference is a likely closing below 201 once, and then probably a rise will take place, to have a positive divergence developed. And regarding 191 yes, closing below its not good and i would love to hold that level.

Now my fresh view is:
As expected it closes once below 201 on 30th october at 199.1 and got a bounce as expected till marked yellow zone of resistance area, and stock reacted at the same and now falling.

On relative strength side DLF still weak and the recent rise again proved to be a futile exercise as of now.
Ideal would be to have it correct below 200 zone and then a rise towards 201 can be looked as a possible entry zone, but short term indicators should favour it.

 

[anil_s_trivedi]

Dear Rajasree,

BHEL god a good bounce but missing Relative strength got it to correct again.
I am looking at 229 zone as good weekly support on closing basis. I mean closing below 229 on weekly will make it to test 212 zone. any major downside can be expected only below 212.
On daily closing below 224 is coming in, and then a bounce can have too be good entry point to get in.

 

[anil_s_trivedi]

3rd november analysis
Hi Friends,

With our relative performance chart of 250 trading days,gives us insight that Bankex (Flouroscent) showing good relative strength, as it is moving sideways to Up

Auto too showed renewed optimism and peak above its previous peak of september, so still following good Relative strength, but not that much a good performer on 250 trading days basis

Power and Metal are still struggling, and as recent business channels showing a start of bull market, but sectoral strength of metal saying something else

Oil & PSU's again taking a beating down, and still moving down

Dear Friends,

Bankex looking weak for short term, and cannot ruled out the possiblity of correcting 12600 levels.
Weekly momentum starts to fade and daily got resisting below 13500 levels, so ideal would be booking on existing longs, and waiting for a decent retracement to get in again.
If we look at weekly it is seeming to be a -ve div in formation, trend wise we are still up as we are into higher high-higher low formation.

Looking at RSI(not posted here) in weekly still we are struggling to close above 70 levels, so strength loosing on there.

Price action reading tells us, the zone of 13600 is a good resistance zone.

Dear Friends,
our previous weekly analysis of 3rd nov and then subsequent going well.
Our relative performance chart vis-a-vis sensex showing, Bankex still good RS wise, and Realty as per our analysis, still looking good, but needed overall market strength to move ahead.
FMCG still remains best performer on 250 days basis, and Healthcare as we know breached all time highs, looking good for intermediate term.
Metal, oil&gas, Power still struggling and RS weakness still persist in these sectors.
IT although weak RS, but trying to rise, so at best it can have sideways to UP, movement in coming week in short term.

 

[praveenramus]

http://imageshack.us/photo/my-images/6/2012novidfc800x600.png/

IDFC price target 200 Ascending triangle pattern formed

 

[praveenramus]

IDFC price target 200 Ascending triangle pattern

 

[rajasree1]

Anilji, Pl discuss abt ONGC.

Thanks.

 

[anil_s_trivedi]

Anilji, Pl discuss abt ONGC.

Thanks.

Dear Rajasree,

ONGC is moving sideways since past 2.5 years, so investor holding is really sitting on nothing. As per first chart, Trendline analysis, long term trendline got breached, but price still in long consolidation zone.
Remember, breaching of trendline doesnt mean reversal, it implies uptrend now in question.

A possible retest of trendline on cards. The broad range of 240-350 going on since 2009.
Focussing on second chart, short term trend still down, and price reacted at 250 levels, which is good support previous too.
So trading wise, this is expected bounce zone, and moving above 259.5 can TGT 2768-70 levels.

Let me reiterate, stock still in downtrend, and any bounces fail to clear off 270 zone, will implied weakness only.