iCharts Discussions

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

In this Section I will be posting positional / swing views.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Rel Infra has given upside breakout of descending triangle on daily chart with positive divergence on RSI.

There has been break of a downward channel on a 30 min chart with good volumes..

To confirm the trend please wait for a daily candles to close above 385..

Buy above 385 with Stop loss of 372 and target of 408 -- 423 -- 441.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Reached Target 2 of 423..

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Almost Reached the last target missed by a point.

If this week price closes above above 435 it will give breakout of triangle on Weekly chart.

Previous three tops found resistances near EMA of 89 weeks. It may retrace from here now.

To continue upward journey on positional bases buy above weekly close of 450 with stop loss of 434 and targets of 533 -- 576 -- 644 -- 721 -- 821.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Nifty forming a triangle on 30 min chart with negative divergence on RSI. Tweezers top on daily chart for NIFTY..

Down side below two 30 mins candle close of 6462 with stop loss of 6508 with support levels of 6434 -- 6362 -- 6236

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

USDINR Has taken support on trend line which previous two lows. It has formed an hammer and forming a descending triangle on a daily chart. Up move can be expected in USD-INR.

Since NIFTY is said to be inversely correlated with USD-INR, NIFTY may start to move in a downward direction.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

USD-INR formed Head and Shoulder bottom on 30 min chart.today is opened above the neck line with gap.

It had formed a hammer on a daily chart 3 days ago, yesterday it was threatening to go below the low of hammer, but eventually it closed on positive not yesterday..

USD-INR bullish above 61.6100 with stop loss of 61.21 and targets of 62.05 -- 62.34 -- 62.8000

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

NIFTY-6500P-1M gave breakout of broadening triangle and positive divergence on RSI on 30 min chart.

Buy when 30 min candle closes above 83 with Stop loss of 62 and target of 98 -- 121 -- 144

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Bearish Engulfing has formed in IDFC on a Daily.
There is negative divergence on RSI with price.

Sell IDFC with candle close below 120 with stop loss above 126 and target of 115 and 106.30

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Continuous Future Chart of NIFTY Future :

-> There looks like pattern which is similar to Head and Shoulder Top. Not a perfect one but acceptable.

-> ADX is close to it bottom ranges suggesting possible start of a trending move.

->Prices are close to SMA of 233 period, taking support.

-> Once price fall First line of speed lines which one-third line, one expect some bearishness.

-> Prices are near 23.6% retracement levels. Once broken next support to be expected at 38.2%

Down Side move can be expect after hourly close below 6650 and with movement up to 6650 -- 6334 -- 6289 -- 6162 -- 6055. Close above 6789 will fail the pattern and this down move may be considered as a retracement of 23.6%.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

621 to 644 may be resistance zone for Reliance Infra. This was the call which got triggered and took off..

All other calls which i gave never got triggered..

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Many Script have turned bullish for positional view.

They have come out of pattern on bullish side and their ADX is showing Strength and is above 25.

Prices are above moving averages of 610 days(long term moving average)

Please find the charts below with Targets and Stop Loss.

RCOM : Buy above Daily close of 144 with stop loss below 121 and Targets of (155 to 165) -- 189 -- 215 -- 262 -- 334.

Hindalco: Buy above Weekly close of 155 with stop loss below 115 and Targets of 175 -- 204 -- 221 -- 262 -- 303.

NMDC : Buy Above Daily Close of 166 with Stop loss below 150 and Targets of 193 -- 234 -- 262 -- 289 -- 315.

TNPL : Buy Above Daily Close of 142 with Stop loss below 131.50 and Targets of 155 -- 162 -- 189 -- 215.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

4th targets also achieved, did not expect this to reach so fast. Smile

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

Unitech on Daily chart crossed above 610 days moving average. Huge volumes in Unitech in past few trading sessions. As all the Infra scripts are moving ahead, keep an eye on this script.

Buy Above daily close of 24.60 or wait for retracement till 20 with stop-loss below below 18 and targets of 28 -- (32 to 34) -- 44 -- 49 -- 55 -- 62.

hemant.icharts · Site Admin Joined: 10 May 2011 Posts: 334

With infrastructure sector booming. It is not only rising it is rising with volume.

JPASSOCIAT forming descending triangle on a weekly chart.

Note : There is strong volume in the last movement. Which was present in the last bullish move it has in 2009.

Speculation is rising so there must cautious buying with stop loss to be used in every trade.

Buy above Weekly close of 82 with stop loss of below 67 and targets of 101 -- 121 -- 162 -- 189 -- 255.