iCharts Discussions

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

SGX Nifty as of now indicating gap up open above 7650 tomorrow (2-7-2014). If that happens, new highs are possible. Otherwise, Nifty will have to go down, seek a stronger support than 7450 levels and start rising again.

My observations say that new highs are possible in the next few weeks and then grinding days for bulls before still higher levels. Let's follow price action and nothing else.

Pls note channasriSAR for 2-7-2014: 7563
SL for Longs: 7580
SL for Shorts (if trend reverses): 7540

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note channasriSAR for 4-7-2014: 7619
SL for Longs: 7646
SL for Shorts (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 · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note channasriSAR for 7-7-2014: 7645
SL for Longs: 7675
SL for Shorts (if trend reverses): 7620

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Dear novice traders,

Sorry for being unable to update for last two days. I was out of station with no access to internet.

Please avoid fresh positions from today till Friday. Trade fresh from Monday is my opinion. Because, technicals will not work when huge volatility happens. Infy result on 11-7-14 may add to volatility. Hence this suggestion.

Pls note channasriSAR for today (9-7-2014): 7668
SL for Shorts: 7650
SL for Longs (if trend reverses): 7680

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note channasriSAR for 10-7-2014: 7657
SL for Shorts: 7625
SL for Longs (if trend reverses): 7670

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Dear novice traders,

Despite of huge volatility, trading with levels given for today would have given good profits. Pls remember this when some people try to sow seeds of doubts in your mind about this thread. However, I stick to my earlier suggestion that one should not trade in a session like today's. The 1st 2 sentences here are just to give you confidence that channasriSAR has many things factored into it and a very meaningful one. On most of the days of trend reversal, nifty has struggled around channasriSAR. You can cross check my statement by back testing.

You can back test channasriSAR's validity on, before and after eventful days ever since I started this thread. My biggest enemy is huge gap opening in opposite direction of channasriSAR on any session. But then such huge shocks cannot be captured by technicals as per my opinion. Hence, it is better to avoid trading highly eventful days. Don't worry about missing one day of trading. Markets are forever.

Pls note channasriSAR for 11-7-2014: 7646
SL for Shorts: 7625
SL for Longs (if trend reverses): 7670

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

I could not post daily updates due to work pressure, travelling etc. Sorry for the same.

Nifty once again came near to the critical 7650 levels.

Pls note channasriSAR for 17-7-2014: 7580
SL for Shorts: 7600
SL for Longs (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 · Green Belt Joined: 01 Aug 2012 Posts: 1029

Dear novice traders,

Nifty seems to be attempting one more bounce. However, the 7650-7685 region holds the key. Nifty is strong above and weak below it. As far as last week's closing basis is concerned, Nifty is precariously poised. Any upside in the remaining part of this series appears to be capped to 7700-7800 region. Retailers and FIIs think in opposite direction. So, when retailers are thinking about 8000 levels, FIIs may be thinking about a nasty blow.

The current rise is a bounce from the low of 14-7-2014 (7422, intraday). 50 DSMA on the same day was 7401. For this to become a new rally, 7685-7700 has to be breached and maintained for 2-3 days in a row. Otherwise, 7500 to be expected.

As far as 21-7-2014 is concerned, pivot is 7648, very close to the critical No. 7650. Nifty needs to stay above 7650 for more upside. Pls note that 50 DSMA has risen quickly to 7472 - a rise of 71 points in a week. Hence, its time to be careful.

Don't get carried away by fancy targets (on either side) given by many people. Let's follow price action and nothing else.

Pls note channasriSAR for 21-7-2014: 7594
SL for Shorts: 7625
SL for Longs (if trend reverses): 7570

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Nifty closed above 7650 but below 7685-7700. This means continuation of uncertainty.

Don't get carried away by fancy targets (on either side) given by many people. Let's follow price action and nothing else.

Pls note channasriSAR for 22-7-2014: 7605
SL for Shorts: 7625
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 · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note ChannasriSAR for 23-7-2014: 7630
SL for longs: 7660
SL for shorts if trend reverses: 7610

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note ChannasriSAR for 24-7-2014: 7661
SL for longs: 7700
SL for shorts if trend reverses: 7640

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note ChannasriSAR for 25-7-2014: 7703
SL for longs: 7741
SL for shorts if trend reverses: 7650

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Pls note ChannasriSAR for 25-7-2014: 7726
SL for longs: 7758
SL for shorts if trend reverses: 7700

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Nifty took support of ChannasriSAR (7726) as the lowest point of the day was 7723.

Pls note ChannasriSAR for 29-7-2014: 7737
SL for longs: 7737
SL for shorts if trend reverses: 7700

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

Regards,
channasri

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Nifty breached ChannasriSAR (7737) intraday but closed well above it. This demonstrates that channasriSAR with the levels provided in this thread can be used for intraday trading also on the day of reversal or new signals.

Pls note ChannasriSAR for 31-7-2014: 7753
SL for longs: 7770
SL for shorts if trend reverses: 7725

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

Regards,
channasri