iCharts Discussions

[Sahil_investor]

Nifty opens with a 10pts gap down. keeping the selling pressure prices are now below 6020, heading towards day 100&200 sma.

Above 6097:6134,6142,6212,6229
Below 5985:5972,5957,5937,5904
50/100/200sma:6043,5874,5864
5/12/26ema:6134,6138,6115

week:
5/12/26ema:6112,6019,5925

Plan for 22-11:
Price is below 6019(12wk.ema),6115(26day.ema),6043(50day.sma) and is above 5874-5864(100/200sma) and 5925(26wk.ema).
End of week is here, A close below 6000(Dev.WKLEMA) will signal increase in downward momentum.
A close above 6000 will be signal for sideways momentum at week t/f.
6066(DLEMA) and 6089(DEMA) are major hurdles.

Resistance: Above 6027(D.pvot), 6057(Wk.pivot), 6066(DLEMA), 6076(Dev.WKEMA), 6089(DEMA), 6103(M.pivot)
Fib: retrace from 6097-5986 ha 6028, 6042 and 6055 (38.2, 50 and 61.8%)
P. resistance: 6068, 6138, 6141

Support: Below 6027(D.pivot), 5939(Dev.MEMA)
Fib: retrace from 5701-6343 has 5946, 5889,5829(61.8, 70.7 and 80%)
P. support: 5972,5958, 5916, 5897,5889

[Sahil_investor]

Intraday Update @12.33-
Spot currently is trading above 6038(Houly.5HEMA) keeping above HEMA will keep this correction intact.

For me currently it is a sell on rise and will look for resell in resistance numbers(in plan for the day) unless price keeps below 6089(DEMA) and 6109(21hr.sma). Another added confirmation will be price moving above 6122(currently34hr.sma)..

update at 1:09
Price gave a sell on NS (broke channel on 5 mins). nov.fut entry(6043)
Retrace from 5986-6049 is essential 6025, 6018, 6010 and 5999(80%) to manage trade
SL@6063(till now it has been till 6061) if SL hit will look for weakness at higher levels.

update at 2:52
1st lot booked at 6003{+40 pts} (R:R-1:2) rest with tsl( retrace from last pivot).
thats how i trade.. One can use my Plan for the day with there trading methods. Have a good Day

[Sahil_investor]

NS ends the week below its low ema.. Marching forward towards day100&200sma.

Above 6050:6093,6112,6134,6142,6212
Below 5973:5971,5957,5937,5904,5798
50,100,200sma:6045,5877,5864
5,12,26ema:6058,6098,6099

Week:
5,12,26ema:6073,6015,5930

Plan for the day:
NS in its last 15 minutes made a bounce from day low5973(also a Day number).
6035(DLEMA) & 6058(DEMA) will be critical resistances.
TSL for 2nd lot will be 6035 or nov. fut sell price(6043) whichever hits earlier.
Critical numbers to watch for- 5946(61.8%),100&200sma is at 5864-5877.
M.5EMA zone :-5909-5938.

Plan for the day:

Resistance: Above 6006(D.pivot), 6035(DLEMA), 6058(DEMA), 6060(Wk.pivot), 6074(Wk.ema)
Fib: A retrace from 6049-5973 gives 6011, 6020 and 6034(50, 61.8 and 80%).
Above 6049 will consider retrace from 6212.
P.resistance:6039, 6082, 6115, 6148

Support: Below 6006(D.pivot), 5996(WLEMA), 5909-5938(MEMA)
Fib: A retrace from 5701-6343 has 5946, 5889 and 5829(61.8, 70.7 and 80%)
P. support: 5962, 5929, 5908, 5865(M. support)

[Sahil_investor]

BN ends the day taking support at Day.50sma; below Day.5LEMA and ends the week below 5ema.

Above 10820:10889,11034,11208,11219
Below 10631:10537,10412,10071,10037,9583
5/12/26ema:10821,10899,10854
50/100/200sma:10640,10459,11268

Week
5/12/26ema:10819,10704,10829

[Sahil_investor]

BN plan for the day

Above 10820:10889,11034,11208,11219
Below 10631:10537,10412,10071,10037,9583
5/12/26ema:10821,10899,10854
50/100/200sma:10640,10459,11268
Week
5/12/26ema:10819,10704,10829

BN Completed its (iv) at 10820. Friday's day low at 10631 is almost at 50sma(10640) and there is also a trendline just below 50sma which may act as a support. Below trendline we have 10459(100sma). 10660 and 10405 are 50-61.8%(9583-11736).

On 5-min. from 10820 3/1.3 done at 10630, a retrace from 10800-10630 gives 80% at 10766 and Hourly.5HEMA-10777. Hence 10766-10777 an important retrace number, above which strength and probably 5 waves completed from 11203.

Resistance: Above10709(D.pivot),10751(DLEMA),10821(DEMA),10822(Wk.pivot),10942(M.pivot), 10958(34hr.sma), 10955(DHEMA)
Fib: If price goes above 10820, will look for a retrace from 11208-10630(orthe newlow)
P. resistance: 10788, 10899, 10977, 11012

Support: Below 10709(D.pivot), 10655-10662(MEMA zone)
Fib: 10660 and 10405 are 50-61.8%(9583-11736).
P.support: 10599, 10520, 10486, 10295

[Sahil_investor]

Intraday update @09.31:
21hrsma-6072 &DEMA (6058).. NS just went above 6072, Hourly is strong, Its a buy and will be a buy on dips unless DEMA &21hr.sma is breached from above. Further strength confirmation when prices breach 34hr.sma.
2nd lots nov. fut exit price 6062..


BN: 10821(DEMA) &10957(34hr.sma)... Above 34hr.sma market will be strong.

[Sahil_investor]

NS makes a bounce from 100% retrace

Above 6123:6134,6142,6212
Below 6036:5973,5957,5937,5904,5798
50sma:6049
5,12,26ema:6077,6101,6100

Week:
5,12,26ema:6073,6015,5930

Yesterday's NS activity:
NS turncated the fall at 100% retrace(5973) and gave a gap-up opening @ 6036(retraced almost 100% of friday's high),Plan for the day "6035(DLEMA) & 6058(DEMA) will be critical resistances[/u]"
Intraday update @09.31:"21hrsma-6072 &DEMA (6058).. NS just went above 6072, Hourly is strong, Its a buy and will be a buy on dips unless DEMA &21hr.sma is breached from above. Further strength confirmation when prices breach 34hr.sma."
By EOD, price closed @6115, day trend up, Week, sell on rises (Wk.5HEMA zone-6178-6206), Month UP(Above 5ema, last close was above 5HEMA..Dev.5hema is down and can be validated only on Month's close)

"All i want to highlight is if market makes a sudden reversal and price start going in an opposite position, one should have certain levels ready which, if breached, should indicate market has reversed for the time being and should be ready for a reverse position.. This helps a lot, does not makes a person NUMB due to reversal in price."

Plan for the day:
Keeping above Day.5ema and 34 hr.sma the trend is safely up. Price on day and week is above 5/12/26. Only trouble, day MACD is still down.. Next hurdle for NS is 6121(61.8%) and then 6164(80%)
If NS falls 6092-6060(Day&wk.pivot) will be the immediate support and 6046(21hr.sma), should be managed with retrace.

Resistance: Above6092(D.pivot)-6120-40(DHEMA+20), 6178-6206(Wk.5HEMA), 6196(MDev.5HEMA)
Fib:Retrace from 6212-5973 gives 6121, 6142, 6164(61.8, 70.7 and 80%)
P. resistance: 6147-48(D. &Wk.), 6179, 6235, 6300

Support: Below 6092, 6088-6074(Wk.ema zone), 6077(DEMA),6060(Wk.pivot), 6035-6015(DLEMA-20)
Fib: Current high 6124 hence 5973-6124 gives 6067,6049, 6031 (38.2, 50 and 61.8%)
P. support: 6060, 6004

[Sahil_investor]

NS is in a zone where price need to clarify the further direction.

Above 6113:6134,6142,6212
Below 6048:5973,5957,5937,5904,5798
50sma:6054
5,12,26ema:6071,6094,6097
Week:
5,12,26ema:6073,6015,5930

Price from yest. high at 6122 started falling in a consolidated manner And breached the immediate support zone of 6092-6060(D&wk.pivot). By EOD, price were below DEMA and 21&34hr.sma indicating weakness.

Plan for the day-

Day &wk. pivot makes a support zone at 6073-6060, 21-34hr.sma is currently at 6065-6075. DEMA-6071.NS yest. closed at 6059. representing weakness.
Keeping below 6060-6065, Retrace of 5973-6122 gives 6048, 6030, 6017 and 6003(50, 61.8, 70.7 and 80%). Gap UP opening on 25th Nov. hence 6012 will be important. Breaching 6012-6003 will confirm bearishness.
There may be a chance that we get a tripple bottom at 5973-5971,as these are also day numbers and have been a good support/resistance for prices in past trading sessions. Another reason for triple bottom possibility is WLEMA at 5996.


Going above 6073-6075 indicates strength and only then should be retraced(6212-5973).

[Sahil_investor]

NS reaches 6030(61.8%) and makes a bounce however ends the day below 21hr.sma with day t/f representing weakness.

Day:
Above 6074:6093,6134,6142,6212
Below 6030:5973,5957,5937,5904,5798
50,100,200sma:6058,5884,5865
5,12,26ema:6066,6089,6094
TL:5958
Week:
5,12,26ema:6073,6015,5930

On day, price is below 5,12,26ema but closed just a number below 50sma. STS,5 is +Ve, but MACD is with a -ve cross over and is under negative zone.
On hour, at 3.00 pm a bullish marubozu appeared, By EOD STS(35) is with a +ve crossover. Price bounced from 6030(61.8%) although moved above the upper trendline is still below 21hr.sma(presently at 6075) and DEMA(6066).
DLEMA zone is 6036-6006.

Plan for the 28-11:
Day &wk.pivot zone(6054-6060).
Keeping above 6060 will be another sign of strength(1st is moving above upper trendline after touching 61.8% and STS(35) being with +ve crossover).
Another confirmation can be taken as moving above 21hr.sma(presently at 6075).
If a rise happens should be retrace with 6212-5973 which has 6121 and 6164 (61.8 and 80%).
DHEMA+20 is 6123.

Keeping below 6054 (also 34hr.sma, currently at 6055) will be sign of weakness.
Below we have 6036-6006(DLEMA-20) also WLEMA(5996), MEMA zone (5958-5909).

[Sahil_investor]

Intraday update-11.39

On hour upper trendline- 6127, DayR3-6121, 6121(61.8%), DHEMA+20-6103-23

Moving above it 6148(WR1), 6164(80%)..WHEMA zone(6178-6206)

[Sahil_investor]

Was Away due to work, and I may not be consistent till end of January, 2014.

My sole aim with posting these charts and a likely plan for the day is to typically represent the main trend, likely supports and resistance and how to manage the counter rise/falls in smaller t/f keeping in mind the larger trend. Also, to analyse where a particular trend gets exhausted and how should one deal with the new emerged trend.
By posting these charts i am trying to organize and discipline myself in order to emerge as a better trader, even if its just a little improvement.

Nifty ends the week above wk.ema but below wk.hema, "Sell On Rise" with an Island reversal formation and day closing below DLEMA

Week
5/12/26:6162,6088,5986
Day
5/12/26: 6252,6223,6177
50sma:6132
Above 6209:6229,6252,6343,6415
Below 6161:6134,6142,6093,6079,5973
TL:6180,6080,5999,6162(hour connecting 6343-6229 )

Preferred EW: 5973 is 2; 6415 is 1.3 and 2.3 unfolding
Alternate EW: 6343 is A; 5973 is B and 6415 is C(further confirmation once price goes below 5973)

[Sahil_investor]

NS plan for 16-12

Week
5/12/26:6162,6089,5986
Day
5/12/26: 6239,6224,6181
50sma:6141
Above 6209:6229,6252,6343,6415
Below 6161:6134,6142,6093,6079,5973
TL:6180,6080,5999,6168(hour)

A Quick Reviewing from Large to Small t/f-
On Friday, NS closed at 6162. Month pivot at 6164. The close happened at Wk.Ema(6162), below wk.pivot(6248). Week's close was below Wk.HEMA indicating a sell on rise which is valid till 6293-6343(Wk.HEMA+50 zone). On day, Close is below D.LEMA(6225), and hence the bearish trend remains intact unless EOD close is above its LEMA. Close is also below 26DEMA(6181) and 6180,6168(TL).

Preferred EW: 5973 is 2; 6415 is 1.3 and 2.3 unfolding which should not breach 5973.
Alternate EW: 6343 is A; 5973 is B and 6415 is C(further confirmation once price goes below 5973)

On hour t/f, from 6415 EW count currently looks like:
6415-6345-1
6345-6374-2
6374-6308-1.3
6308-6344-a; 6344-6280-b; 6280-6327-c.2.3
An end of 5 wave fall from 6327 will start a rise, and that will be the area to look whether the rise is Corrective (to reenter shorts with larger trend being down) or Impulsive (to initiate fresh buy) [using fib. retrace]
The trend remains down, STS is under 20 and may remain under 20 while price keeps falling. +ve divergences on 5 mins with support number from larger t/f may produce small bounces which needs to monitored with retrace from 6273.

Resistance:
Above 6179(D.pivot), 6181(26D.EMA), 6196(M.HEMA), 6224(12D.EMA), 6225(DLEMA), 6229(Day num.), 6239(DEMA), 6244(21hr.sma), 6248(Wk.pivot), 6252(Day num.), 6277(D.HEMA), 6283(34hr.sma).

Fib: 6273-6161 gives 6217 and 6230(50 and 61.8%) and hence weakness should be seen some where here. A move beyond6251(80%) will signal strength in rise and will qualify for retrace from 6327- 6161
(Rearrange if low goes below 6161)
P.resistance: 6197, 6227, 6245

Support:
Below 6179(D.pivot), 6164(M.pivot), 6162-6112(Wk.ema-50 zone), 6141(50sma), 6142(Day num.), 6134(Day num.), 6093(Day num.), 6090(Wk.lema), 6089(wk.12ema)

Fib: 5973-6415 has 6142(61.8%), 6103(70.7%)
P. support: 6173, 6150, 6132, 6086.

[niknish]

Good one & interesting, appreciate your efforts, pls keep it up n continue.
Best wishes

[Sahil_investor]

Intraday Update at 09:52 AM:

As per EW From 6327(2.3):
6327-6255-1
6255-6271:A;6271-6254:B;6254-6273:C.2
Keeping above H.HEMA(6189) may start intraday correction.(3 may then be considered complete)...

Please note view may change in accordance with Hour chart.
Using Fib. retrace to monitor the rise/falls is most effective.

Intraday update at 2.20 AM:
H.Hema now at 6175, D.pivot at 6179.. A move above may start a corrective rise.
If trades above will look for retrace from 6273-6146.

Currently DEMA @ 6215 and 21hr.sma-6214.

[Sahil_investor]

NS goes below WEMA. Is now under OS Zone in day and Hour.

Week
5/12/26:6162,6088,5986
Day
5/12/26: 6211,6213,6179
50sma:6146
Above 6183:6212,6229,6252,6343,6415
Below 6146:6142,6134,6093,6079,5973
TL:6211,6099,5966,6167(hour)

Plan for 17-12:

Price is now below 5WKEMA and 26DEMA, Day macd is with -ve crossover. Although Day STS, RSI are oversold & Hour STS is also oversold. Yest, price made a low of 6146, close to 6142 (61.8% of 5973-6415). A Divergence on hour may lead to corrective rally, atleast.
On 5-mins, 6175 is the last high and is probably 4, also is H.Hema(6173). If price keeps above the number, it can be termed as start of corrective rally.

Resistance:
Above 6161(D.pivot), 6199(DLEMA),6211(DEMA&TL),6212-13(Day num.&12ema), 6201(21hr.sma), 6229(Day num.), 6243(34hr.sma), 6246-66(DHEMA+20), 6248(Wk.pivot)
Fib: 6273-6146 has 6194, 6210 and 6224(38.2, 50 and 61.8%)
P. resistance: 6176, 6198, 6213.

Support:
Below 6161(D.pivot), 6142(Day num.), 6134(Day num.), 6099(TL), 6093(Day num.), 6090(Wk.lema), 6088(12ema), 6050-5998(M.EMA zone)
Fib: 6142 (61.8%), 6103(70.7%) and 6061(80%)
P.support: 6140, 6124, 6081