Charts for the Day

[anil_s_trivedi]

What is this chart called? How do we read it and understand it? I guess this would help in picking up the sector and with which we can pick stock in that sector.

Dear sreeram,

Its a relative performance of different sectors w.r..t sensex. The idea is which sector is performing well and leading. My calculations are based on 250 trading days basis. One can also build from April to till date or from Jan to dec basis.
It depends on your analysis.

It also reflects relative strength component...Like if sensex making lower bottom and IT index making higher bottoms..its a early sign of relative strength buldup in IT.

Here we see performance of IT wrt sensex, if its started rising and sensex falling, it means IT started building up, or started accumulation.

 

[anil_s_trivedi]

USD-INR still in uptrend, and with momentum indicators turning up, a high chances of higher levels testing.
A likely rupee depreciation on cards. So it fits with a likely IT sector bouncing, a stronger dollar, more revenues to IT. And OIL & Gas should bear the grunt of dollar appreciation.

 

[anil_s_trivedi]

Gold falling after failed test at 32400, prices showing weakness till date. As momentum indicators falling on long term, intermediate term and short term basis.
A positive divergence on short term is seen, and may prompt for a rally towards, 31000 levels. A break above 31500 on EOD basis is good. Failed to test it will bring towards lower levels.
A inside action going on bar of 20th december.
The fall from 32400 this time, seems to be more by impatient traders, as price action showing bigger black candles, closing at lows.
So keep watching 31500 for upside bias and 30150 break for downward bias.

 

[mksreeram]

Anil,

Happy new year. May lord ganesha shower all prosperity on you in this new year.

I am entering Hexaware in futures at 86.95. Your thoughts?

Regards
Sreeram

 

[anil_s_trivedi]

Anil,

Happy new year. May lord ganesha shower all prosperity on you in this new year.

I am entering Hexaware in futures at 86.95. Your thoughts?

Regards
Sreeram

Dear Sreeram,
Already replied to Esse on this as on 14th december...
Here..
http://www.traderji.com/technical-analysis/69380-charts-day-33.html#post748370

Stock still not bottomed out as per me. Yes with close above 86.1-86.2, stock poised for a bounce till 89 levels. All levels are for cash.
So one can play with above outlook in mind. For a bounce only.

 

[anil_s_trivedi]

Happy New Year to all my Traderji friends......

Thanks Dear sreeram for your wishes..yes we all need blessings from lord ganesha...
May all traderji members get success in their endeavours...

...

 

[R M]

Wishing a Very Happy New Year to all!

 

[Tharu]

Hi Anil ji.. Hope u r doing good.. Was completely shut from the market for the past month.. I have a long way to catch up ur thread..
My belated New year wishes to everybody around....

 

[anil_s_trivedi]

Posting some momentum buys chart.. i dont have any personal positions in it..its just some of scrips looking like a possible candidate for 'rising from ashes' and some with already in uptrend, making it a compelling buy..

 

[mangup]

Dear Anil,

What is ur criteria for considering the stock to be entering into uptrend & buy on dip style of trading/investing?