iCharts Discussions

[channasri]

Pls note channasriSAR for 5-5-2014: 6746
SL for Shorts: 6732
SL for Longs (if trend reverses): 6760

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

Regards,
channasri

[channasri]

Today was yet another example for struggle of Nifty around channasri SAR. It could not climb the SAR and fell down.

Pls note channasriSAR for 6-5-2014: 6739
SL for Shorts: 6723
SL for Longs (if trend reverses): 6760

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

Regards,
channasri

[channasri]

Once again today also Nifty struggled around channasri SAR. It could not remain above the SAR and fell down.

Pls note channasriSAR for 7-5-2014: 6734
SL for Shorts: 6721
SL for Longs (if trend reverses): 6750

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

Regards,
channasri

[channasri]

Nifty gets strength above 6690 only.

Pls note channasriSAR for 8-5-2014: 6714
SL for Shorts: 6702
SL for Longs (if trend reverses): 6730

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

Regards,
channasri

[channasri]

Dear novice traders,

Cover all your positional trades by EOD today or hedge them atleast. Because, from Monday, there could be huge volatility.

I would like to repeat last post's 1st sentence: Nifty gets strength above 6690 only. You can see from the charts what happened y'day.

Pls note channasriSAR for 9-5-2014: 6701
SL for Shorts: 6589
SL for Longs (if trend reverses): 6720

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

Regards,
channasri

[channasri]

Dear novice traders,

From Monday's session till next Monday atleast, you will see big players exploiting their knowledge of trading psychology, privileged information and money power like anything. So, be careful.

Pls note channasriSAR for 12-5-2014: 6727
SL for Longs: 6780
SL for Shorts (if trend reverses): 6709

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 14-5-2014: 6896
SL for longs: 6950
SL for shorts (if trend reverses): 6880

Regards,
channasri

[channasri]

Dear novice traders,

At this stage, markets can turn to any direction. Pls don't initiate fresh longs or shorts. Pls avoid fresh positions until coming Tuesday. This is my suggestion. Pls take your own decision.

Pls note channasriSAR for 12-5-2014: 6925
SL for Longs: 6975
SL for Shorts (if trend reverses): 6890

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 16-5-2014: 6941
SL for Longs: 7004
SL for Shorts (if trend reverses): 6920

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 19-5-2014: 6997
SL for Longs: 7055
SL for Shorts (if trend reverses): 6950

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 20-5-2014: 7058
SL for Longs: 7115
SL for Shorts (if trend reverses): 7000

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 21-5-2014: 7113
SL for Longs: 7169
SL for Shorts (if trend reverses): 7080

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 22-5-2014: 7154
SL for Longs: 7198
SL for Shorts (if trend reverses): 7130

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

Regards,
channasri

[channasri]

Dear novice traders,

The next triggers for the market: swearing in of Modi, composition of cabinet, first set of decisions from the new govt., RBI policy. However, even more important thing according to me is the technicals.

Bank Nifty is trading at one of the highest levels for some indicators in the last 5 years. Same observation holds good for Axis bank and ICICI bank. Historically if you see, the ratio of Bank Nifty to Nifty is within (1.85-2.05) to 1.0. So, either the ratio has to be re-written to the higher side or a big correction has to happen in Bank Nifty to regain the ratio.

I prefer to go by the real price movements and the channasri SAR provided here on daily basis. This has stood the test of time and events including the recent election results. Observe for reducing difference or increasing difference between channasri SAR and SL No. If the difference is getting reduced think that the market is slowing down in that direction. If the difference is increasing, the market is getting more energy in that direction.

Pls note channasriSAR for 23-5-2014: 7190
SL for Longs: 7220
SL for Shorts (if trend reverses): 7160

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 26-5-2014: 7232
SL for Longs: 7257
SL for Shorts (if trend reverses): 7200

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

Regards,
channasri