Charts for the Day

[phoenixbird]

sir,

When chart follows trend channel (upper line as Resistance and lower line as support) and when it breaks and goes above the upper line (resistance line) will the same line (zone) now act as support?

thanks

 

[anil_s_trivedi]

sir,

When chart follows trend channel (upper line as Resistance and lower line as support) and when it breaks and goes above the upper line (resistance line) will the same line (zone) now act as support?

thanks

In normal circumstances the upper TL is treated as resistance line(overbought line)...on higher timeframes like weekly, it is to be treated as resistance line only...

But when stock moving out of bigger consolidation zones such upper TL failed to resist the price and price swiftly passes though them...also when parabolic run up seen in price upper TL's failed to act as a resistance line...

 

[bali007]

Anil Ji,

Any view on SBIN, currently trading on 200 SMA 8-10 session in daily chart. and there is double bottom forming in weekly chart, however RSI is loosing momentum.

regard

Rajiv

 

[anil_s_trivedi]

Anil Ji,

Any view on SBIN, currently trading on 200 SMA 8-10 session in daily chart. and there is double bottom forming in weekly chart, however RSI is loosing momentum.

regard

Rajiv

Rajiv ji,

 

[anil_s_trivedi]

nifty:

Watch near 9970-75....above that resistance coming in at 10055-60 only...

 

[vivektrader]

nifty:

Watch near 9970-75....above that resistance coming in at 10055-60 only...

Reversed from your levels sir.


Vivek

 

[khurshedmanjra]

EXIDE INDUSTRIES....slow and steady stock

 

[anil_s_trivedi]

Not predicting Pharma bottom, but pharma index tested crucial zone today...again i am not advising for blindly longs here, only stating what i am seeing...

That was the bottom...pharma up since then...As of now, there are many scrips showing +ve divergences on weekly/daily charts...

 

[anil_s_trivedi]

Nifty:
support at 9900-10...more weakness below it only...

 

[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...

Gold CMP: 30185 ...trail it...if anyone initiated position in it... almost Rs.1000 up...