ChartMantra

ChartMantra

Good evening all, Today: Like I said last evening.... It will bore us and it did. Respecting the resistance line for a very long time, only to peak out on the last candle in the 30M time frame. Tomorrow: With RSI still at around 50, and range not broken on either side, the chart is CTRL+C, CTRL+V from yesterday. A minor adjustment to the short target 1...

ChartMantra

Good evening all, Today: We saw the 39300 level breached and made us achieve 2 targets. This probably is a well received pull back if the market has to go up. Tomorrow: With RSI at 50, the market can go either ways. On the way up, I still hold my view above 40160 and below 38785 for a good move. With a daily ATR of 700 points, this range 1300 points may just...

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Good evening all, Last Week: Hope you had a safe Diwali. Like the range index was in. Nothin more about that. Only that, it has set up very well to move either ways. Tomorrow: We have a range of 850 points that we need wait to be broken. Above 40160 and below 39300 we should have a good move. More optimistically above 40160 which also coincides with the daily...

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Good evening all, Last week: Short Week, and a very narrow range. Just 200 points. Everyone wanted a safe index and a safer Diwali. This week: So from here, we look at two important levels on the dynamic trend lines. Above 40160 and below 38400. On both sides the target room is around 700-800 points with almost equal RR. *** This is a view and not necessarily...

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Good evening all, Today: While the market did not open up with a gap, our 1st long target was achieved very quickly (well just 11 points shy) only to pull back and then achieve it again. After that, as predicted, a range of around 300 points. Why? well Tuesday behaved like Wednesday because tomorrow is expiry and the previous day is mostly premium eating day for...

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Good evening all, Today: Like I mentioned, range bound market in the first session and then surged up to show optimism in the second. Normally, I wouldn't advise on carrying a position but breach on 39775 looked promising. Tomorrow: We just may see a gap up opening at around 40K and then either a range or reverse. If it has to sustain the climb, then 40136...

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Good evening all, Friday: Since I wasn't available for the past three days, I will stay away from providing any analysis on something that I had no view on. Tomorrow: While my weekly view is inclined on a short, we will look at rise and dips through Monday and Tuesday and trade accordingly. The dynamic resistance line from 27th November was breached on Friday...

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Good evening all, Last week: We saw a huge down turn from the supply zone at the top to retrace up to our marked level of 38450 and then settle at 39115. In doing so, it also breached the multi day support trend line showing sign of weakness. Now we need to convert this into our strength. This week: So from here, we wait for support zone at 37700 to broken if...

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Good evening all, Mount 40000 achieved last week and reached almost 40600 to settle at 40300. What next? Between here and 40750 is a strong resistance zone and we wait for that to be breached if we are to see 42200. With a 14 day ATR of ~570 points, Monday again becomes important for us. Also, the current level forms of 1000 points range between 40300 and 39300...

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Good evening all, Today: A huge gap up opening almost nullified out entry. However the pull back provided us with an entry at an elevated level moving our SL too. And then, a comfortable 800 points. This, thanks to the support trend line respected and a huge room on top on the hourly chart. Tomorrow: I have moved from my regular 15m / 30M time frame to the 1H...

ChartMantra Updated 

Good evening all, Friday: We saw our long target being achieved and then some more. But we also saw a good movement on the other side to about 38.2% and then settle at 23.6%. Both these being Fib Retracement levels. Tomorrow: So from here, either it goes up to point 0 or back down to 38.2%.... Both these being our entry levels. That's it. So; Long side...

ChartMantra Updated 

Good evening all, Today: Christmas came early this year and late in the day. 400 points from our entry and hit all our daily and weekly targets. Tomorrow: This also means that the index is at a strong reversal point. If it has to move up, 40300 needs to be breached for it to go to 40450. South side, we will wait for the 40000 to be broken down till up to 39900...

ChartMantra Updated 

Good morning All, Starting today, I will also be posting my near term view on BNF. Every Sunday, along with Intraday view for Monday. And here it goes... Mount 40,000? Well, the daily chart sure does suggest that basis following considerations: 1) One key reversal point at 39000 being comfortably breached on Thursday 2) Index was in a channel forming higher...

ChartMantra Updated 

Good evening all, Today: Like we predicted, the index was range bound and option sellers making merry. Nothing more to that. Tomorrow: This however also means that the range for it move shrunk in and is only 500 points. On either side we take an entry and book profit quickly due to the phycological barriers 40000 and 39000. So; Long side view: Buy above...

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Good evening all, Today: Was a roller coaster in true characteristic of BNF. 600 points down and then 500 points up. Something we were used to last year and sadly missing this year. Unless you are very correct, accurate and careful, these swings can dig you your grave. Hence, trade what you see and not what you feel. Tomorrow: Mount 40000 needs to breached for...

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Good evening all, My view stays. For tomorrow however, let us turn the tables. You tell me what I need to do. Look at the chart and post your thoughts. Trend lines have been drawn for you. Suggest levels. HINT: Maintain the R&R ratio of 1:1 on the SL side. So; Long side view: ????? --------------- Short side view: ????? *** This is a view and not necessarily...

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Good evening all, In my forthcoming week's view, I have indicated the index to reach 40,000 - 40,200. And it could do that if it needs to sustain the 39000 levels. Hence the Monday session is very important. It will define the week for us. Largely again, 39300 - 39000 looks like a range. So; Long side view: LET US WAIT AND SEE --------------- Short side...

ChartMantra Updated 

Good evening all, Today: While I mentioned yesterday that it might just... It did.... Almost 37779 testing the another reversal point. From here the long road is ONLY above 38800 and up to 39000. Again, if it does. Tomorrow: The index after reversing from a strong supply zone, is looking down and potentially may get stuck in 400 point range. If it breaks...