Centum Electronics

Below is the Monthly chart for Centum Electronics.

It shows a monthly flag kind-of formation and is retesting the upper trendline of the flag. A breakout above 720-750 on the monthly with volume expansion would take the stock to 900 odd where it would again face some resistance, breaking which I am expecting around 1400 as the target price in the near future.

Since this is a monthly formation, do not expect fireworks, the move up may take time and test your patience. And again, we are still pending breakout – so wait it out else a visit to the lower TL once again in the offing.

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Chart taken from snap.capitalmind.in/charting

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Traders’ Carnival

Started in 2012, Traders’ Carnival is an annual event organized for the traders and by the traders, but more importantly, deep down from the heart of a few trader friends is what makes this annual event go ‘once you visit, never a miss’.

And it is this passion of these trader friends that has evolved the event over the years into more interesting ways, specially a Do It Yourself for budding traders, to come meet fellow traders all across the globe, stay with them, pick their brains, get ideas and understanding trading – from the pros and cons of a full time trading career to trading the markets not looking at the terminal but by looking at an excel sheet twice a day.

This meeting of traders, discussion of trading ideas, networking and socializing goes on till almost midnight and even later for the 2 nights the event is on. It shows the passion of the traders and the seniors and speakers there educate the newbies as well as the passion for  the master – Mr. Market.

The most important part of the event, the speakers are full time traders themselves and therefore a lot of experience and screen time, tip and tricks, market hacks etc are loaded into their presentations – something if one wants to learn hands on would take almost 2-5 years. And yes, the speakers are available at the venue full time till the event is on for any queries, follow ups etc and even later on mail etc.

There are a lot of other advantages of attending this event, and it can be seen by few participants having attended all of the events over the last 5 years which includes an international event at Bangkok, Thailand in 2016 which saw Jim Dalton giving a presentation for almost a whole day and available on demand at the venue for 2 nights, 3 days. The other venues were Bangalore 2012, Pune 2013, Goa 2014 & Mumbai 2015.

This year, Traders’ Carnival is being hosted at The Renaissance, Powai ­– 29th April to 1st May 2017. Registrations are currently live at the website www.traderscarnival.com and any queries can be directed to Dharmaraj at +91 84949 25324 or dharmarajj@gmail.com

BankNifty – Precarious

BankNifty or the Jungli Billi as named by @ap_pune on Twitter – is at a precarious position.

Attached is the Hourly Spot chart below. We can see a fractal or a repeating pattern but in mirror format with the last upmove and the 1st downmove each of 5 waves (of whatever limited wave knowledge I have – says reversal of trend unless crossed).

BankNifty is now on the edge of the table and if 18000 spot is taken, then, as @assortz coined the phrase, it’s gonna fall off the table.

BankNifty, on this chart is not tradeable on options at all. I would advise all options lovers to just ignore this medium/long term chart, as we can never time the moves. Yes, if one wants, one can go short around the top of the rectangle with a 18800 spot stop for less risky ppl and 19200 spot stop for aggressive/higher risk taking capacity people with a flip to long if stopped or keep rolling short position on moving lower.

View the chart in a bigger format by clicking here or on the chart itself.

fcukchartoftheyear

The Nifty too has a somewhat same kind of formation and if it follows that – I personally am scared to think as to what would happen to individual stock prices.

Lets see how this plays out. Especially with a lot of data coming out – esp the Fed Rate Hike issue, Demonetisation effects of Indian Currency (from Jan 2017), Budget 2017 (1st Feb 2017) and many unforseen events inbetween, etc.

 

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Dow Jones – Before and After

I had posted a Dow Jones chart/view before the event of the General Elections. You can view it here.

And see what happens … the support hold and booom. All time highs on the Dow Jones.

Enjoy the new highs and added wealth into your portfolios and trade safe.

You can view the enlarged chart here or on clicking on the chart.

djiaeod20161110

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Nifty @ Support

Interesting point for the market. Some would say Do or Die level etc.

Here is a simple channel support on the Nifty. If we break this, the earlier channel would come into play and the markets would head lower else back to the top of the channel.

Lets see what Mr Market … errr .. Miss Nifty does.

Click on the chart to see an enlarged version or click here.

nssupp20161104

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Dow Jones

An event is nearby and the markets are doing what it does – come and rest at support/resistance. And its supports this time.

See the number of times this band has been test. Umpteen times from below (resistance) and now the third from the top (support). A classic case of Resistance turns Support structure.

Now – the million dollar Q is – what will the markets do ?

Well, we can only wait and watch and react after the markets decide what it wants to do. To do anything before that would be harakiri if markets decide to go against your position.

Chart below. For a larger chart, click here or on the image below.

dow20161103

Earlier too I had posted a DJIA view which you can find here. Worked pretty much according to my view. Lets see what this time the markets would do – big event, big move in the offing whichever side it decides to move.

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Sun Pharma

Looking at the chart from a distance, my view is that 720-10 could be revisited. But please do remember that 730 approx is a double bottom too previously and that Mr Market is a ‘Class A’ bluff master and sometimes we call the bluff, sometimes we have to eat our views. Thats how it is.

Of course, I could be wrong, as I have been, many times. Mr. Market

Here is the chart, self explanatory (click here or on the image to enlarge)

sunpharma_20161101

Previously had a view which didn’t work out all the way though. Here it is.

Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.