Charts for the Day

[Esse]

Hi Anil,
It was great to get the sector-wise graphs. What is you take on the nifty now that 6020 has been conclusively taken? Also pl check your pm. Would greatly appreciate a quick response.

Thanks and regards

 

[anil_s_trivedi]

Hi Anil,
It was great to get the sector-wise graphs. What is you take on the nifty now that 6020 has been conclusively taken? Also pl check your pm. Would greatly appreciate a quick response.

Thanks and regards

Dear Esse,

Nifty reacted from weekly channel resistance, and got corrected today with the effect of hourly divergences.
As per momentum readings, daily still in uptrend, and only the exhaustion move is getting corrected right now.
One may see bounce till 6076 again and may test 6000 levels.
More weakness will be below 6025 level.
Strength only above 6100 levels.

 

[anil_s_trivedi]

Keep an eye on Hexaware, showing some sign of bottoming here 'if hold of 84 on closing basis'
Stock looking good closer to 86-87 levels.
I right now dont have any position in it.

 

[jain.er]

Keep an eye on Hexaware, showing some sign of bottoming here 'if hold of 84 on closing basis'
Stock looking good closer to 86-87 levels.
I right now dont have any position in it.

HI Anil,
Just curious to know what are the signs of a stock bottoming

 

[anil_s_trivedi]

HI Anil,
Just curious to know what are the signs of a stock bottoming

Dear jain.er,

Stock as per me formed here only temporary support zone, and is in process of testing supply zone at 92-95, if overcame then a good rise.

If frankly ask me i will be comfortable only near to 75-78 levels, but before that if something plays out then we need to watch here closely.

The volume supported move and showing some good relative strength is the only reason, it seems to show something. But contrary point is momentum action still down, so if it has strength it will consolidate here time wise between 80-88 levels and then show upside, so till that time momentum will come to oversold and favours a bounce. Only a quality of consolidation/correction here will point what is coming in.
Pattern wise it is still into corrective patterns of triangle, so a little see-saw here...
Lets watch it, further...

 

[anil_s_trivedi]

Nifty as expected got upside till 6069.8 (ours expected was near to 6076), and got corrected till 6004(ours expected was 6000).
On daily momentum signals are all down and lower levels expected may be a correction till 34 ema at 5956 right now in coming days. Short term/intermediate/long term momentum are in sell mode.
On hourly, short term UP, intermediate trying to turn up if closes above 6045 levels. And long term still down.So until intermediate turn up, it wont be that fast too turned daily UP right now.
First sign of strength now only will be above 6055-60 levels, a sell off from there will reinforce weakness.

 

[anil_s_trivedi]

 

[shivasrinivas2012]

hi anil , as u told again bounced to 6076 level , tomorrow will it test towards 6000 0r 6100 levels?!. thanks

 

[anil_s_trivedi]

hi anil , as u told again bounced to 6076 level , tomorrow will it test towards 6000 0r 6100 levels?!. thanks

Dear shivasrinivas,

I am still having momentum on daily as down on all three degrees of short/intermediate/long term as down only. Fridays move is still not counted on much on daily as off now.

Regarding hourly for immediate readings about market showing as, short term - UP, intermediate term rises to up with hourly closing above 6045 levels as expected on friday update. But long term still hovering down.

I wont be surprised if market consolidates here in 6100-6030 before trending down. It may break above 6100 but triggering a breakout will be remote. I mean it may break 6100 and rise till 6110-20 levels, but probably of testing higher not right now in my view.

crucial levels for monday are 6076/6040/6020/6002/5935
If opened above 6070 and unable to sustain higher levels and falling back below 6076 then its a intraday weakness, falling below 6040 will inhibit positional weakness, similarly if opened down, a first sign of support will be near to 6040 levels, and look for longs as hourly intermediate/short term both UP. But ride it till 6080 levels, and look for additional sign of strength there, if persists hold it,else booked out.

Disclaimer: I trade very rarely on intraday basis, and above positions/levels are as per S/R analysis, and coming week its a expiry and monthly closing coming in, so volatility will be there. And it is already telling us from daily and houlry momentum signs. whenever they conflict outcome is volatility.

 

[anil_s_trivedi]