Charts for the Day

[anil_s_trivedi]

If one looks at weekly chart of nifty, then the recent two bars including current weeks, its seems to be a pause only...of that big selloff bar of week ending 11th august...

 

[vikas2131]

If one looks at weekly chart of nifty, then the recent two bars including current weeks, its seems to be a pause only...of that big selloff bar of week ending 11th august...

I am expecting a big sell off in september when fed announces reduction of balance sheet...so it is possible we might see even bigger sell off than we saw a couple of weeks back....

 

[ravi2126]

It would be better if second bottom had slightly penetrated the first one on lower side...the earlier demand zone need to be tested to signify its importance...views may differ here, but i have clarified mine view here...

HI anil"ji, U mean around 210/- zone if tested n turn from there will make it more stronger...?

 

[anil_s_trivedi]

HI anil"ji, U mean around 210/- zone if tested n turn from there will make it more stronger...?

Raviji,

Double bottoms can be said only when the previous bottom is tested and if volume is lower than previous bottom zone the better it is. It implies at same zone this time supply is not coming in...so lack of supply can take stock to rise comfortably.

 

[anil_s_trivedi]

Bata undergoing inverted H&S formation...the recent rally from june lows was from double bottoming...keep in sight if breaks the neckline a good upside in sight...

 

[anil_s_trivedi]

Gold is making all efforts out to come out of bear grip...technically trading above 200 SMA...volumes coming on up bars...and lesser on reactions...flattening to rising 50/200 SMA is ideal one for bulls...

 

[anil_s_trivedi]

I dont trade commodities, posting silver chart as per query by one of fellow member...

Silver showing some good signs for upside getting buildup...flattening 50 SMA also with above average volumes going on upbars...

 

[anil_s_trivedi]

The screening stocks are choosen over nifty500 universe...Closely looking at 12 months performance its dominated by consumer goods, fertilizers, financial services...This stocks also listing in top percentile in nifty 500...so no doubt they must have good run over the time period...

Percentile calculation takes into consideration the weightages over 1/3/6/12 months period...

Second chart is performance over 1-month period...here too its clearly seen the smart money have wisely shifted to defensives...almost 12 stocks of top 25 are from consumer goods...here the stocks making in list are from 70's and 80's percentiles also cropping up in list...

 

[anil_s_trivedi]

Excerpt from reminiscences of stock operator...a must read book if you are trader/investor...

 

[anil_s_trivedi]

Nifty update:

Need to hold that 9825-30 zone, else bulls will have tough time defend 9700 this time...