Another Volatile Session

Dear All,

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Though no major change in Pattern wise or Ew Count, had a volatile session due to outcome of results. Better than expected HUL Results help nifty to gain 40+ Points. Bank Nifty + SBI looks week though RBI meet on May 03, expectation had 50 Bps Cut.

RSI and MACD still on -ve Div maintian alarm for weakness. Lets See.

Weekly Review - 29.04.2013

Dear All,

Last week Rally was as Predicated by us. If you where a regular reader of this blog, sure your might have come across our bullish view too. Market expects RBI may cut Rates aggressively as Inflation hit 3 Year Low. But the Biggest reason behind in fall in Gold and Crude Oil Prices which may lower Import bill and may give a Lower CAD. So Lets come to Technicals as usual.

>> Nifty Daily <<

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Have marked current rally as Wave (X). Also Bearish Harami Candle Stick signal an Early Warning for a Possible Fall in Next Week. Caution Advised.

>>> Nifty - Hourly <<<

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On Hourly Price given a Break down from the Andrew's Pitchfork.

>>> Nifty - 15 Mins Chart <<<

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Above chart suggest the last and final support from a Trend Line. Lets See will it give support next week.

>>> DLF <<<

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Stock on Break down as shown on chart. May continue to slide if not able to hold support 235.

>>> PERFORMANCE <<<

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Rally May give a PAUSE ????

Dear All,

Market Rallied ahead of Expiry and hope of Rate Cut by RBI in the upcoming Policy meet. My Earlier Update on IHS failed. Now Lets see whats next...

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Nifty Completed Wave A. Caution advised as Wave B may get start any time. Lets also see a bit close on 15 mins chart as where shall be the Bear Entry Possible.

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Nifty Support 5854, marked with Red Arrow, if trades below that may be the sign for weakness and sell off may start in. Or even if trades below the lower channel may give weakness too. Support 5854 and 5842. If Continue to trade above the channel may continue the rally for some more time also. Lets See.

>> JP Associates <<

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Jp Associates - Upmove seems like a corrective one as I marked it as a-b-c, facing a major hurdle at golden ration 38.2% or 79.2. Resistance 79.2 and 78.6 not taken out means, fall unavoidable. Lets See.

IHS Formation

Dear All,

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Nifty trying to form a IHS, MACD & RSI showing Negative Divergence. Should wait for Clarity as volatile persist due to Expiry. Lets See

Resistance 5870

Dear All,

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Nifty faces resistance at the Upper Trend Line, also 5870 spot which is 61.8% of previous fall.

Weekly Review - 22.04.2013

Dear All,

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Price closed above 50dsma looks positive. Should cross 61.8% or 5782 for reaching next level 78.6% or 5865. Channel Resistance should act as a major resistance.

>Nifty Published as on 15th April, 21013<

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Said Nifty should cross the channel for any upmove.

> Happened and Yet to <

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Nifty almost touched the channel to complete (iii) wave and may correct for (iv) wave down before a final upmove. Lets see

>>> BANK NIFTY - Published on Last Weekly Review <<<

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>>> Happened and Yet to <<<

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As wrote on Last Weekly Review about Falling Wedge Break out, Bank Nifty spiked to 12313. As BN crossed 61.8% seems like it can touch 78.6% which is near 12517. Lets See.

>>> SBIN - Published on Last Weekly Review <<<

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>>> Happened and Yet to <<

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SBIN on a-b-c-d-e formation, which (e) is on progress.

>>> IFCI - as on 15th April, 2013 <<<

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>>> Happened and Yet to <<<

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Ifci as said last week's review touched 29.5 and reached our target. Now need one more break out as given on chart for next target.

>>> Tata Motors - as on 15th April, 2013 <<<

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>>> Happened and Yet to <<<

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Tata Motor Crossed Resistance 281, should touch the upper side channel as shown on chart.

>>> TATA STEEL <<<

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Tata Steel need a Break out for Upmove from the Wedge. Lets Wait and see.

>>> ANDHRA BANK <<<

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Andhra Bank has given a Break out with Good Volume suggest a Healthy Upmove on Card. Lets get read for it.

>>>> PERFORMANCE <<<<

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Support at 5644 and 5627

Dear All,

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I have assumed the on going wave as (iii) and now extension in nature, seems like support should be around 5644 and 5627, if holds then possible bounce upto 5824 and 5872.

Also the pattern seems like a IHS, means Bears should be careful. Lets See.


>>> HINDALCO <<<

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Hindalco looks positive as the expanding channel gives support, RSI in +ve div too. Lets See what happens.

5720 Resistance

Dear All,

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Nifty gave a break out and passed 5620 Resistance with 120+ Points. Sudden fall in Gold / Silver and Crude Prices gave hope that the CAD (Current Account Deficit) may come down sharply where Gold and Crude was the Major portion of Import Bill.

If CAD eases, no doubt Equity market may regain strength. I hope RBI may also convinced enough to cut Rates as already Inflation also showed sign of Easing.

Friday I have posted Bank Nifty Chart and SBI - which gave break out - signaled us the same feeling that RBI may cut rates aggressively. Today's 120+ Points tells us that Bears have no more strength as Shorts are getting covered.

Nifty Resistance at 5720. Above 5720 - 5795 and 5870 should be Next. Lets See.

Mc-Dowell - Special Edition - as Follow Up

Dear All,

Updating Mc-Dowell specially for those who are in short. Today Stock breaks 1950 and made a high of 2022.8. Some Readers who are in short asked queries about the same. Here is the chart with Updated Stop Loss.

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2055 is the renewed Stop Loss and I feel stock should start falling from there for Wave C to break below 1700. Don't stay short above 2055. Lets see and All the Best too.

5590 & 5610 Resistance

Dear All,

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5590 and 5610 Resistance should be crossed for next upmove.

>> IFCI <<

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IFCI break out done, possible to touch the upper channel as shown on chart.

>> BATA INDIA <<

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Bata India - Break Out. Should cross the small channel for good Upmove Target. Lets See.

Weekly Review - 15.04.2013

Dear All,

>>> NIFTY <<<

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Last friday Nifty missed a Meaningful break out on chart above 5604-08. But even though Infy fell down madly due to lower than expected guidance, though Nifty still looks hopefully to come up as a relief rally.

>>> BANK NIFTY <<<

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Bank Nifty gave a Clear Break Out from its falling wedge, +ve Div on MACD give more hope for a good Upmove next Week.

>>> SBIN <<<

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SBI too moving like Bank Nifty - Break out from falling wedge with +ve div on MACD gives more hope.

>>> TATA MOTORS - Weekly <<<

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Tata Motors Weekly gave a Clear Support on Lower end of the Channel and managed to close above 50 Week MA showns some Revival.

>>> TATA MOTORS - Hourly <<<

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Tata Motors Hourly Suggest Resistance for the stock at 280, should be crossed for further upmove.

>>> RCOM <<<

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Above chart posted on 10th April on Face book, gave a possible IHS break out on chart.

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Rcom as per IHS zoomed up and even crossed Resistance 76, above 76 stock should touch 83. Lets See.

>>> Mc-Dowell <<<

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McDowell - We are following for Last week also, able to book some part profit, did not fell down as expected. Now the stock seems to be making a corrective upmove for sub wave (ii) and a Strong Resistance at 1950 which is 78.6% of previous fall. If crosses the upmove shall continue, else fall or even a big fall not ruled out. Lets See.

>> PERFORMANCE <<

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5608 Resis

Dear All,

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Updated during market hours on face book. Seems like a IHS Pattern, not yet broken out.

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5604-08 Resistance if crossed, then possible upmove as per given on chart. lets See.

>>> INFY <<<

Infy to announce it results tomorrow.

Analysts on average expect Infosys to report a net profit of Rs 2,297 crore, down 3 percent sequentially, while Rupee revenue is seen up 3 percent at Rs 10,730 crore, according to a CNBC-TV18 poll. In US Dollar terms, revenue is expected to rise 4 percent at USD 1,987 million in Q4.

CLSA Asia Pacific Markets in turn feels Infosys and rival Tata Consultancy Services hold potential for surprising positively on the revenue front. It expects Infosys to report a revenue of USD 1,990 million (up 4.1 percent), with USD 26 million incremental from Lodestone.

The company's margins are expected to decline 65 basis points in the quarter, on the back of wage hikes it gave to onsite employees and expenses related to the acquisition of Lodestone. The management has already guided for a 100bps margin decline, but the wage hikes and acquisition expenses will be partly offset by improvement in utilisations.

According to CNBC-TV18 poll, Infosys is likely to forecast US Dollar revenue growth of around 12 percent and earnings per share is likely to be in the Rs 173-176 range (up 6-8 percent).

>>> Hourly Chart <<<

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Infy Faces Resistance at 2955, if breaks Possible Upmove on Card. Lets See.

>>> Daily Chart <<<

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Infy moving up with -ve Div shows lack of Strength. Pattern looks similar to IHS, but lot of Gaps give an unclear picture. If support as marked at 2750 breaks then it may slide till 2590 in coming days, else if able to break the Upper Resistance line above 3009-14 then it may ignore the -ve div and can zoom to new high. Interesting days ahead. Lets See

Above 5530

Dear All,

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As usual High Volatile rocks the Market today also. But managed to give a Break out like situation as shown on chart. Managed to hold on the Middle line of Andrew's Pitchfork and stayed on the upper channel shows Bulls still had a chance.

Resistance 5570, 5594 and 5666.

>>> BHARTI AIRTEL <<<

Following Chart Updated on Face Book during market Hours - As we already had a Buy call on it.

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As per chart, need a strong break out above the channel. Lets See.

>>> TATA MOTORS <<< Follow Up

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Tata Motor - Chart Updated as on 03rd April, 2013

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Break Out as per Previous Update and Now moving towards Upper channel for Target.

>> RCOM <<

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Rcom - Updated during Market Hours on Face Book. Lets See