iCharts Discussions

[channasri]

Pls note channasriSAR for 11-6-2014: 7496
SL for Longs: 7545
SL for Shorts (if trend reverses): 7450

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty could not sustain above 7650 and fell down heavily.

Pls note channasriSAR for 12-6-2014: 7527
SL for Longs: 7573
SL for Shorts (if trend reverses): 7510

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty continues to be haunted by 7650.

Pls note channasriSAR for 12-6-2014: 7558
SL for Longs: 7593
SL for Shorts (if trend reverses): 7525

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty finally got scared by 7650 is my view. Most of the traders were hoping for 8000 target. My view is that it takes 3 consecutive EODs above 7650 and accompanied by weekly close above 7650 to realise that target. Now 7580, the earlier support becomes the resistance.

Watch for announcement of budget date and price action from that time onwards.

Pls note channasriSAR for 12-6-2014: 7563
SL for Shorts: 7525
SL for Longs (if trend reverses): 7580

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Since EOD of 9-6-14, 20D SMA is trading at more than 1,000 points above 200D SMA.

Pls note channasriSAR for 17-6-2014: 7566
SL for Shorts: 7525
SL for Longs (if trend reverses): 7580

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Pls note channasriSAR for 18-6-2014: 7586
SL for Longs: 7610
SL for Shorts (if trend reverses): 7550

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Once again nifty showed that it becomes week at and around 7650.

Pls note channasriSAR for 19-6-2014: 7586
SL for Shorts: 7525
SL for Longs (if trend reverses): 7610

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty is in a trading range between 7500 to 7650. Decisive movements can happen either above or below this range on EOD basis. After 9-5-14, Nifty is closing above 20D SMA (currently at 7474 and rising).

ICICI Bank closed below 34D SMA for the 1st time after 20-2-2014. The day after 20-2-2014, it closed above 34D SMA and then a rise of about Rs. 220. It then took support of 34D SMA on 30-4-14, 2-5-14 and 5-2-14 and then a rise of about Rs. 325. Today it has closed below 34D SMA (now at 1423 and rising). Hence, I think that tomorrow's and Monday's EODs are crucial. Let's go by price action and nothing else.

Pls note channasriSAR for 20-6-2014: 7579
SL for Shorts: 7560
SL for Longs (if trend reverses): 7600

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty has to give EOD below 7500 for more downside. Below 7500-7480, 7360 is the strong support.

ICICI Bank closed below 34D SMA for 2nd session. So, Monday's EOD becomes critical.

Pls note channasriSAR for 23-6-2014: 7566
SL for Shorts: 7550
SL for Longs (if trend reverses): 7580

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty closed below 7500 but within the crucial region of 7500-7480. So, reversal is still possible.

ICICI Bank closed below 34D SMA (1432 and rising) for 3rd session in a row. However. the daily candle stick is hinting at reversal possibility.

Pls note channasriSAR for 24-6-2014: 7550
SL for Shorts: 7535
SL for Longs (if trend reverses): 7580

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Pls re-read my opinion of yesterday.

Pls note channasriSAR for 25-6-2014: 7552
SL for Longs: 7560
SL for Shorts (if trend reverses): 7535

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Pls note channasriSAR for 26-6-2014: 7555
SL for Longs: 7555
SL for Shorts (if trend reverses): 7535

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Pls note channasriSAR for 27-6-2014: 7541
SL for Shorts: 7520
SL for Longs (if trend reverses): 7560

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Sideways correction seems to be in place.

Pls note channasriSAR for 30-6-2014: 7533
SL for Shorts: 7520
SL for Longs (if trend reverses): 7560

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri

[channasri]

Nifty has to conquer 7650 for new highs.

Pls note channasriSAR for 30-6-2014: 7548
SL for Longs: 7575
SL for Shorts (if trend reverses): 7525

Use 5 EMA in 5 min charts and the levels provided here for booking profits and re-entries.

Regards,
channasri