ChartMantra

ChartMantra

Good morning all, Yesterday: Our 2 short targets identified in the weekly chart were met and then we saw a pullback. In likelihood, correction will continue. Today: With RSI at 40, we may either see the index in a range of 2500 points or a 'Short' move only below 35850. 'Long is a far way up beyond 38850. But be careful of the volatility that currently...

ChartMantra Updated 

Good evening All, Last week: Neither of our levels were made for us take an entry. With weekly RSI at 1600, market played that range. Mostly because of the surge it had since 30th December, sellers had to make money. This week: With RSI dropping below 60 and hovering at 55 mark may provide a support for a bounce back. This, it has done many times before....

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Good evening all, Friday: One target met and then a lot of volatility in a 500 point range of 2.5X ATR. Tomorrow: The Chart and RSI both peek out a 'long' if 55 RSI is breached and sustained. Above that not a lot room though. So trade with care. For the 'short', I again will want to wait for some more clarity. So; Long side view: Buy above 37880 Target 1 zone...

ChartMantra Updated 

Good morning all, Yesterday: Nothing new was visible but the hangover from day before made us meet our short target. Today: We have a decent pullback of around 23% from the top met on 12th and 18th and can be just the trigger we need for a good south side move. Below 37000, the road to 34000 looks like a highway. On the 'long side' with RSI taking resisting...

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Good morning all, Yesterday: A classic premium eating game played. Long volatile candles on both sides attracting and killing. Today: THERE IS NOTHING. Absolutely nothing... across time frames.... Unless the chart speaks to you.... you don't plot #rule. So; Long side view: NO CLARITY AS OF NOW --------------- Short side view: NO CLARITY AS OF NOW *** This is a...

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Good evening all, Today: What a rollercoaster ride today. 650 points up and then 850 down. This also makes tomorrow's play potentially dull being premium eating day. Tomorrow: We may look at a range bound index. RSI too has taken support from 40 and below there has been support at 37, 35 and 33. So not much potential there and 'long' seems to be long long away....

ChartMantra Updated 

Good evening all, Today: While the index did give us a few points on the long side, it was risky and then boring. RSI between 60 and 40 through the day did not offer anyone any opportunity other than sellers. Being stuck in 200 points range is so not BNF. Tomorrow: Let me start on the short side, we continue our view about that if 37925 is broken down. So no...

ChartMantra Updated 

Good morning all, Friday: A huge Gap down entry denied us 2 targets. But life is such and so is BNF. Tomorrow: Again we are have the RSI at around 50 suggesting a move on the either side. On the long side, we wait for 38450 to see some incremental benefit and on the short side the set up suggests a move below 37940. So; Long side view: Buy above 38450 Target 1...

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Good morning All, Last week: Our long move did qualify the entry level and had a pullback from the RSI 70 resistance level. However, lack of any momentum made a sluggish index This week: Our entry moves up this time to the target set last week and wait for it move from there to fetch ~500 points. This is dependent on the momentum we achieve and RSI crossing...

ChartMantra

Good morning all and Happy Makar Sankranti, Yesterday: We made 2 targets n then the market went in range. Not exactly a volatile expiry. Today: Again we have a decent setup offering us a potential trade on both sides. The RSI hovering around 50 is also a good indicator of that. Another possibility is the range between 38250 and 38550 that may stick...

ChartMantra Updated 

Good evening all, Today: I didn't post anything last evening because there was nothing new to post. Our Chart from yesterday bore fruit today. Tomorrow: The market trading in a very narrow range of 200-250 points is very unlike BNF. Something's gotta give. May be tomorrow. For the long Position, refer to my weekly chart as well. If it sustains above 38850 then...

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Good morning all, Yesterday: Like we predicted, A quick move early in the day and then range bound till the last 45 minutes. The good and bad of that is..... RSI has stayed above 60 but the price has closed at a STRONG resistance zone. Today: We wait and watch. On the 'Long' side, entry above 38450 ONLY and please do wait for the price to close above that level....

ChartMantra Updated 

Good morning all, Friday: Our Target on the long side was met and then index went into a range. However, it created a structure for us to potentially trade on today. Today: We may see some quick movements and then mostly a range bound. Why?, Because Index is hovering around the resistance area and RSI at 56. and the short is way down below. So; Long side...

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Good evening all, Last week: It was indeed a happy new year for us as all our 5 targets were met and earned us over 2000 points. This week: Those profit points are pour range this time though. An upward break only above 38400 and downward below 33960. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like,...

ChartMantra Updated 

Good evening all, Today: Upward momentum broken and nicely poised for tomorrow. Like I mentioned, profit booking early in the day. Tomorrow: We may see a range bound market between 37890 and 37000. For any good movement on either side, we need these levels to be breached. RSI too at 56 and can go any direction from here. So; Long side view: Buy above...

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Good evening all, Today: For the 3rd day in a row, momentum carried through and gave us 700 points today from our entry level. Tomorrow: First weekly expiry of the year and we may see some volatility basis earlier momentum and profit booking. So be careful. 'Long' will be sustained only above 38000 and there is absolutely no clarity on 'Short'. I will update...

ChartMantra Updated 

Happy New Year All, Last week: We saw a climb from 34230 levels making a nice structural set up for a potential move. This week: Our entry point on the North side is above 35700 with T1 at 36000 and SL 35480 making it a good RR. Down south, entry is only below 33900 as we have seen support at 34000 previously, The target there is a good 600 points Between...

ChartMantra Updated 

Good evening all, Today: Again a good run on top making us achieve 1 target intraday and 3rd target on the weekly chart. Tomorrow: Again, the market is at a critical reversal point but RSI has some headroom above. If the market reverses from here, we look at 2 important aspects, RSI breaking down on 60 and index below 36260. Below that, we again may even see...