iCharts Discussions

[channasri]

Hi,

FIIs are buying in the cash market for the last few days while the index is making new short term lows. Nifty is oversold in daily charts (FSTO 21,3) while 100D SMA is 8530 (EOD also). Be careful with shorts. More lows only if Nifty trades below 8480. Bank nifty has 100DSMA @ 18702 while daily charts are oversold (FSTO 21,3). It might attempt to recapture 100D SMA.

Let's follow price action and charts. Nothing else.

Please note Channasri SARs for 26-3-2015:
Nifty: 8603
TSL for shorts: 8581
SL for longs (if trend reverses): 8620
Nifty No. for positional longs (if trend reverses): 8650
Nifty intraday: 8480 to 8520 is no trade area.

Bank Nifty: 18642
TSL for shorts: 18546
SL for longs (if trend reverses): 18650
Bank Nifty No. for positional longs (if trend reverses): 18650
Bank Nifty intraday: 18200 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Few missiles fired in/on Yemen changed so many things all over the world. We are really living in a global village. Imagine what will happen if Vasudaiva Kutumbakam is realised.

Let's follow price action and charts. Nothing else.

Please note Channasri SARs for 30-3-2015:
Nifty: 8506
TSL for shorts: 8468
SL for longs (if trend reverses): 8520
Nifty No. for positional longs (if trend reverses): 8520
Nifty intraday: 8350 level is critical.

Bank Nifty: 18386
TSL for shorts: 18266
SL for longs (if trend reverses): 18400
Bank Nifty No. for positional longs (if trend reverses): 18400
Bank Nifty intraday: 18050 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Nifty has to come out of 8470-8550 range on either side for big moves. For bank nifty, 18500-18550 range is an important resistance.

Wish you all a happy and prosperous new financial year.

Let's follow price action and charts. Nothing else.

Please note Channasri SARs for 1-4-2015:
Nifty: 8492
TSL for shorts: 8492
SL for longs (if trend reverses): 8492
Nifty No. for positional longs (if trend reverses): 8492
Nifty intraday: 8470 level is critical.

Bank Nifty: 18311
TSL for shorts: 18259
SL for longs (if trend reverses): 18311
Bank Nifty No. for positional longs (if trend reverses): 18311
Bank Nifty intraday: 18150 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Nifty has come out of 8470-8550 range on positive side. It will look for big moves. It has to stay above 8550 for 2 days. Bank nifty stayed above 18500-18550 range. RBI decision is crucial now. Remember one thing: Saudi Arabia has started increasing crude oil prices. Disappointment by RBI will be coupled with this.


Let's follow price action and charts. Nothing else.

Please note Channasri SARs for 7-4-2015:
Nifty: 8529
TSL for longs: 8546
SL for shorts (if trend reverses): 8513
Nifty No. for positional shorts (if trend reverses): 8497
Nifty intraday: 8650 level is critical.

Bank Nifty: 18377
TSL for longs: 18412
SL for shorts (if trend reverses): 18340
Bank Nifty No. for positional shorts (if trend reverses): 18311
Bank Nifty intraday: 18550 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note Channasri SARs for 8-4-2015:
Nifty: 8550
TSL for longs: 8578
SL for shorts (if trend reverses): 8517
Nifty No. for positional shorts (if trend reverses): 8517
Nifty intraday: 8650 level is critical.

Bank Nifty: 18382
TSL for longs: 18442
SL for shorts (if trend reverses): 18325
Bank Nifty No. for positional shorts (if trend reverses): 18325
Bank Nifty intraday: 18500 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

I have suggested one way of understanding the trend in below lines. Please see if this approach helps when observed for many weeks.

Nifty took support of 50 SMA in daily charts. For the week, it took support of 20 SMA in weekly charts. In weekly charts, MACD (9,24,9) turned up but below zero level and yet to trigger. Today being EOW, second half of the day may give some hints for the weekly trend. 5 EMA in weekly charts @ 8650 holds the key for this week and next week.

Please note Channasri SARs for 10-4-2015:
Nifty: 8619
TSL for longs: 8658
SL for shorts (if trend reverses): 8619
Nifty No. for positional shorts (if trend reverses): 8619
Nifty intraday: 8750 level is critical.

Bank Nifty: 18487
TSL for longs: 18540
SL for shorts (if trend reverses): 18487
Bank Nifty No. for positional shorts (if trend reverses): 18487
Bank Nifty intraday: 18840 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Bank Nifty 20SMA in weekly chart is @ 18948. Being from weekly charts, this will be quite a challenge for this scrip. Unable to breakout above this decisively means beginning of a new down trend. On the downside, 5EMA in weekly chart @ 18719 may offer some support.

Nifty has supports @ 8651 (5EMA, weekly chart) and 8584 (20SMA, weekly chart). Its resistances are 8790, 8860 and 8950 (very tough to take out).

Let's follow price action nothing else.

Please note Channasri SARs for 13-4-2015:

Nifty: 8655
TSL for longs: 8698
SL for shorts (if trend reverses): 8650
Nifty No. for positional shorts (if trend reverses): 8650
Nifty intraday: 8750 level is critical.

Bank Nifty: 18555
TSL for longs: 18700
SL for shorts (if trend reverses): 18550
Bank Nifty No. for positional shorts (if trend reverses): 18550
Bank Nifty intraday: 18750 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Please note Channasri SARs for 15-4-2015:

Nifty: 8696
TSL for longs: 8737
SL for shorts (if trend reverses): 8675
Nifty No. for positional shorts (if trend reverses): 8650
Nifty intraday: 8800 level is critical.

Bank Nifty: 18616
TSL for longs: 18692
SL for shorts (if trend reverses): 18600
Bank Nifty No. for positional shorts (if trend reverses): 18600
Bank Nifty intraday: 18800 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

For both nifty and bank nifty, observe what is happening around 89 EMA in 30 min charts. Especially today. This parameters is very useful for positional trading and trend following. Happy trading! Now busy time again. Bye.

Please note Channasri SARs for 16-4-2015:

Nifty: 8717
TSL for longs: 8745
SL for shorts (if trend reverses): 8700
Nifty No. for positional shorts (if trend reverses): 8670
Nifty intraday: 8750 level is critical.

Bank Nifty: 18654
TSL for longs: 18700
SL for shorts (if trend reverses): 18650
Bank Nifty No. for positional shorts (if trend reverses): 18600
Bank Nifty intraday: 18700 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

I am suggesting one more method for trend following: Observe crossovers of 5WMA over 5SMA in daily charts with Bollinger's band (20,2) and FSTO (21,3). Verify this in Nifty, Bank Nifty, Reliance Infrastructure, L&T, Nifty stocks etc. Please decide on your own.

Please note Channasri SARs for 17-4-2015:

Nifty: 8721
TSL for shorts: 8721
SL for longs (if trend reverses): 8725
Nifty No. for positional longs (if trend reverses): 8750
Nifty intraday: 8710 level is critical.

Bank Nifty: 18654
TSL for shorts: 18680
SL for longs (if trend reverses): 18680
Bank Nifty No. for positional longs (if trend reverses): 18700
Bank Nifty intraday: 18700 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Please note Channasri SARs for 20-4-2015:

Nifty: 8705
TSL for shorts: 8690
SL for longs (if trend reverses): 8705
Nifty No. for positional longs (if trend reverses): 8710
Nifty intraday: 8650 level is critical.

Bank Nifty: 18604
TSL for shorts: 18589
SL for longs (if trend reverses): 18650
Bank Nifty No. for positional longs (if trend reverses): 18650
Bank Nifty intraday: 18350 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Please note Channasri SARs for 21-4-2015:

Nifty: 8661
TSL for shorts: 8635
SL for longs (if trend reverses): 8661
Nifty No. for positional longs (if trend reverses): 8670
Nifty intraday: 8450 level is critical.

Bank Nifty: 18516
TSL for shorts: 18463
SL for longs (if trend reverses): 18550
Bank Nifty No. for positional longs (if trend reverses): 18516
Bank Nifty intraday: 18200 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Please note Channasri SARs for 22-4-2015:

Nifty: 8610
TSL for shorts: 8563
SL for longs (if trend reverses): 8620
Nifty No. for positional longs (if trend reverses): 8620
Nifty intraday: 8350 level is critical.

Bank Nifty: 18447
TSL for shorts: 18362
SL for longs (if trend reverses): 18475
Bank Nifty No. for positional longs (if trend reverses): 18500
Bank Nifty intraday: 18200 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

Here is one more approach for trend following based on Fibonacci ratios.

Retracement for the fall of 834 points from 9119 to 8285 has started. The retracement levels are: 8482 (23.6%), 8604 (38.2%), 8702 (50%), 8800 (61.8%), 8899 (73.6%) and 8952 (80%). Numbers are rounded off to nearest whole numerical value. Nifty has to decisively conquer 8950 levels to realise new all time highs.

There is no hard and fast rule that retracements will have to follow Fibonacci ratios. However, these ratios are seen achieved frequently. Which ratio the retracement reaches varies. At the same time, do remember to observe Nifty's behaviour around 200EMA in 5 min charts (currently at 8438).

Please note Channasri SARs for 23-4-2015:

Nifty: 8576
TSL for shorts: 8520
SL for longs (if trend reverses): 8576
Nifty No. for positional longs (if trend reverses): 8576
Nifty intraday: 8450 level is critical.

Bank Nifty: 18407
TSL for shorts: 18319
SL for longs (if trend reverses): 18450
Bank Nifty No. for positional longs (if trend reverses): 18500
Bank Nifty intraday: 18300 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have this suggestion to use 5EMA in 5min or 7SMA in 2min charts: Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps. I am experimenting another way to follow Channasri SARs. I will share that in few days.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to make own studies and trade on their own.

Best regards,
Channasri

[ragarwal]

If you would explain with charts it would be very useful.
Thnx