Charts for the Day

[anil_s_trivedi]

Thanks Anilji,
One very basic question, If Tats steel breaks on the downside below 340 can
we take short position for 20 points. Or is it foolish to trade contra trend.

Dear Nandamad,

Generally my posting are for intermediate timeframes...for shorting it can be used well...But you need to be quick, as i didnt mentions stoploss here, if you short at 340 or so...

I assume if one is intraday trades, best to trade in direction of hourly trend and spotting entry on lower timeframe viz. 5min or so...

Now there is a resistance zone at 350-352 is it opens there and resisted its a weak...it will test towards 340...Now sustaining below this can take it towards 330 / 320 levels...

So think how price formation going on...where it is opening up, where it is taking resisted or taking support...

 

[anil_s_trivedi]

anil Trivedi,

Too complicated for an average intelligent trader. ( in my opinion )

I am asking a simple advise :

When a High vol Bar/ High Dly bar occurs, what is the thump rule for entry Long for Short term.

By this i mean what one or two imp factors one should look into to take a calculated risk for long or is it just not possible to state in isolation.

Dear Rangarajanji,

There you are...One entry rule if you want is this...

If bar is high volume Down bar with above average volumes, then one can short below lows of this bar...And if its a reversal bar the better it is...Same thing for long side...

 

[anilnegi]

Dear Rangarajanji,

There you are...One entry rule if you want is this...

If bar is high volume Down bar with above average volumes, then one can short below lows of this bar...And if its a reversal bar the better it is...Same thing for long side...

anil ji

didnt get u, pls post a chart if possible, also whats mean of reversal bar in colour or hammer etc.

 

[anil_s_trivedi]

anil ji

didnt get u, pls post a chart if possible, also whats mean of reversal bar in colour or hammer etc.

Dear anilji,

I am not advocating this strategy...its just one stop solution for those who want to trade above/below high volumes bars...I just added reversal condition and volume condition to it...

 

[ravi2126]

Anil'ji,
If possible kindly give your analysis with chart on L&T pls...

 

[rangarajan]

Dear Rangarajanji,

There you are...One entry rule if you want is this...

If bar is high volume Down bar with above average volumes, then one can short below lows of this bar...And if its a reversal bar the better it is...Same thing for long side...

anil Trivedi,

I made a quick back test both in EOD, 30, 60 TFs, on many stocks & Nifty & for a Scalper, definitely, the results were encouraging & tempting to try in the coming days.

On Lupin, 29/3, though it was a High Vol, Down & R/B, the Low till today is Not breached.
But, High was taken out.

So, can we call it Negation of Negative reversal & any clue as to how to trade it

You seem to have lot of tricks up yr sleeve & that is why u r Full time trader.

My compliments.

What is great is you are prepared to Teach & Share & Not possessive.

We continue to learn from you.

 

[NANDAMAD]

Anil sir has drawn green horizontal line in volume bar. It is average volume. How to draw it, does it have a special name. anybody can guide please

 

[anil_s_trivedi]

Anil'ji,
If possible kindly give your analysis with chart on L&T pls...

Dear Ravi,

L&T is in uptrend on daily and weekly...On weekly formed good swing pivot at 1170-80 zone...so this is important going forward...

As short term and intermediate -ve divergence build up, stock can go sideways to down...On closing below 1240 can test 1200 zone...Only on closing weekly below 1200 can have some meaningful correction...

Ideally if stock is in 'strong' uptrend then bulls will be ok till 1240-25...They will hold 1220 too...else it can have deeper correction till 1170-80 zone...Where there is a crucial support zone...

Om intermediate charts, i see rise till 1450-1500 zone...It may be over few weeks to months...

 

[rangarajan]

Anil sir has drawn green horizontal line in volume bar. It is average volume. How to draw it, does it have a special name. anybody can guide please

NANDAMAD,

You can draw it only if yr S/W has that facility like Ami, Advance,E-signal etc.

But Free, to my knowledge No.

 

[rangarajan]

anil Trivedi,

Yr views on PFC pl.