Weekly Review - 02nd May, 2016

Dear All,

The Bank of Japan on Thursday kept its monetary policy steady keeping the negative interest rate unchanged. Further, the central bank trimmed FY17 GDP growth forecast to 1.2% from 1.5% earlier for 2016-17 which led to a sell-off in global stocks

Meanwhile, the US Federal Reserve at its two-day policy meet which ended Wednesday kept interest rates unchanged but signalled confidence in the US economic outlook, paving the way for a possible rate hike at its next policy meet in June.

Reliance Industries ended down 5.4% on profit taking post its results announcement. The stock had appreciated nearly 10% in the last two months ahead of its fourth quarter earnings. Meanwhile, on account of the huge Rs 1.13 lakh crore capex for the ongoing refinery and petro-chemical expansions and the proposed launch of Jio telecom, its gross debt increased to Rs 1,81,079 crore in the March quarter compared with Rs 1,78,07 crore in the December quarter.

Global events along with the movement in crude oil prices and foreign fund flows will dictate the market trend in the week ahead.

Markit Economics will release the India Manufacturing PMI for April 2016 on May 2 and Nikkei India Services PMI will release the data on May 4.

Stock specific action will be seen post the March quarter earnings with Adani Ports, Eicher Motors and Hero MotoCorp set to announce their results next week.

Auto companies will be in focus as they will release their April sales numbers.

>>> Nifty Weekly Chart<<<

>>> click the chart to see on full screen <<<

Price unable to hold above 50% retrace or 7972 should be watched carefully. Two consecutive red candle tested 50 wma and closed below it, shows weakness. Caution advised.

>>> Nifty Daily Chart <<<

>>> click the chart to see on full screen <<<

Bulls must cross above 7970-90 and should hold RSI trend line for a healthy rally. Else Bear may re-enter again.

>>> Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Price may get support @ 7790,7740 & 7716. Break below these levels may confirm the down trend.

>>> Bank Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Same like Nifty 50 - Bank Nifty also moving on a ABCDE pattern. Price may find its resistance @ 16840 & 16920 above may see rally and Support @ 16550 & 16570 if breaks - may fall to continue. We have entered short on Nifty Bank and will decide as per next week movement.

>>> RELIANCE - As Posted on Last Weekly Review <<<

>>> click the chart to see on full screen <<<

Have wrote on last weekly review - a day after better than expected Q4 Results - mentioned clearly that Charts showing weakness and looking for a possible fall. See what happened.

>>> RELIANCE - Booked Rs.16000/- Profit <<<

>>> click the chart to see on full screen <<<

We made a panic Exit with Profit of Rs.16000/-. But price achieved our target 990 and made a low of 980.

>>> TataMotors - Hourly Chart <<<

>>> click the chart to see on full screen <<<

Holding with a Profit of Rs.7500/- Looking for more such correction.

>>> ASHOK LEYLAND - Daily Chart <<<

>>> click the chart to see on full screen <<<

Holding Short on Ashok Leyland also.

>>> KOTAKBANK - Hourly Chart <<<

>>> click the chart to see on full screen <<<

Shorted Kotak Bank also and expecting a good correction from here. Cheers!!!

>>> Performance for the month end of April, 2016 <<<

>>> click the chart to see on full screen <<<

For details of our service send email to niftyforall@yahoo.com or whatsapp @ 9677924975.

Support @ 7822 & 7777

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price broken the first Support @ 7865 today and Next Support 7822 & 7777 if breaks tomorrow, fall may continue in may series also. We are holding our shorts from 7970.

>>> ASHOK LEYLAND <<<

>>> Click the chart to see on full screen <<<

Price resisted on the top of the channel and completed its last leg of 1-5 rally. Now if breaks below 104, more fall likely. We have shorted today and holding for a good correction. Cheers!!!

More Upmove Pending.

Dear All,

>>> Nifty 5 Mins Chart <<<

>>> click the chart to see on full screen <<<

Above 5 mins chart looks like 1-5, and hope last leg of 5 the wave rally pending. If this is not wrong, Price may face resistance at 8000 and 8055.

>>> Bank Nifty Hourly Chart <<<

>>> click the chart to see on full screen <<<

Bank Nifty - may surpass 17000 again to test the channel top. Cheers!!!

Support Taken @ 7826. Next Resistance @ 8000 & 8055

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price Spiked after making a low of 7822, almost from our support 7826. Next key resistance @ 8000 & 8055.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Key Resistance @ 17000 or 17100. Cheers!!!

Support @ 7826

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

7826 an important support - if breaks may test 7777. We are holding our Shorts for more fall.

>>> RELIANCE - DAILY - As posted on Weekly Review <<<

>>> Click the chart to see on full screen <<<

Wrote on Weekly Review - Price if breaks the channel - Possible correction on monday. See what happened.

>>> RELIANCE - Happened <<<

>>> Click the chart to see on full screen <<<

In spite of good results on Q4, Price today broken the channel support with Big Volume as shown on above chart. We have short position from 1048 and Holding still. Its seems like price may continue to fall. Lets Wait and See. Cheers!!!

Weekly Review - 25.04.2016

Dear All,

Investments by foreign institutional investors, rupee movement and trends in global markets will be the key drivers of the market in the week ahead.

Axis Bank, Maruti Suzuki India, Bharti Airtel, Yes Bank, ICICI Bank, HCL Technologies, Vedanta, Interglobe Aviation, ACC, UltraTech Cement are few major companies among others that will unveil their Q4 numbers next week.

Markets are likely to remain volatile ahead of the expiry of April derivative contracts on Thursday, April 28.

Besides, the second part of the budget session of Parliament will commence on Monday, April 25.

On the global front, US Federal Reserve will hold its next two-day policy meeting on Tuesday, April 26 and Wednesday, April 27.

In Japan, two-day monetary policy meeting of Bank of Japan (BOJ) will be held on Wednesday, April 27 and Thursday, April 28.

>>> Nifty Weekly Chart <<<

>>> Click the chart to see on full screen <<<

Earlier a Bearish Hanging man and followed by a bearish candle formed near 7760 Failed and tested next resistance near 7970-7980. A Red Colour Doji near the Key Resistance should be noted with caution, also Price tested 50WMA.

>>> Nifty Daily Chart <<<

>>> Click the chart to see on full screen <<<

7970 acts a key Resistance for the 3rd time. Price must cross above to gain strength for bulls.

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price Resisted @ the top of the channel or at 7975. 7870 act as a good support.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Above 16750 - Movement till 17000 on the way.

>>> CEATLtd - Booked Profit <<<

>>> Click the chart to see on full screen <<<

Booked Rs.35000 Profit on Friday, Still expecting more fall as the price and RSI on the negative side.

>>> RELIANCE INDUSTRIES <<<

>>> Click the chart to see on full screen <<<

Better than expected Q4 Results on Friday. But the above chart shows a rosy picture and looks like Price may correct sooner or later - possibly. WE have short position with SL and will decide the status as per Next week movement.

>>> Performance till 22nd April, 2016 <<<

>>> Click the image to see on full screen <<<

Kindly send email to niftyforall@yahoo.com for details of our service or whatsapp @ 9677924975.

Friday - Judgement Day

Dear All,

>>> Nifty 5 Mins Chart <<<

>>> Click the chart to see on full screen <<<

Above is a 5 mins chart - to understand the nature of move - have analysed closely with 5 mins chart. I assumed that todays move as a possible last expanding triangle and if breaks below 7880-90 may test the supports like 7860,7826 and 7790. Below 7777 price may continue to fall. We have entered short today morning.

>>> RELIANCE - Hourly <<<

>>> Click the chart to see on full screen <<<

Price if breaks the channel support as shown on chart - Possible correction on card. We have Short position for our clients.

Resistance Must be 7950,7970 & 7990-8015

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price must cross some important hurdles like 7950,7970 & 7990-8015.

Next Move till 7990-8015

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Next move till 7990-8015.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Possible Rally till channel top.

Weekly Review - 18.04.2016

Dear All,

Fourth quarter earnings will be the key driving force behind the movement of the stock market in a holiday-shortened week ahead, say experts.

Stock market will remain closed on Tuesday for Mahavir Jayanti.

Infosys, India's second-largest IT services firm, on Friday reported better-than-expected 16 per cent rise in the fourth-quarter net profit and forecast strong revenue growth for the current fiscal on new client additions.

Next week will see major BSE-listed companies such as TCS, Wipro, HDFC Bank, IndusInd Bank, Cairn India and Hindustan Zinc, among others reporting their quarterly earnings.

Among macroeconomic data, inflation based on wholesale price index (WPI) for March 2016 is scheduled on Monday.

The domestic WPI data and Chinese housing figures on Monday, German ZEW economic sentiment, euro zone's current account data on Tuesday and the region's PMI reading towards the end of the week would be other developments that may sway the market sentiment next week.


>>> Nifty Daily Chart <<<

>>>Click the chart to see on full screen <<<

Price crossed 7760 and Next Resistance @ 7990 to 8015.

>>> Nifty Hourly Chart <<<

>>>Click the chart to see on full screen <<<

Above 7760 & 7777 - Possibilities like 7890 and 7990-8015 open for the bulls. We have NIL Position.

>>> Bank Nifty Daily Chart <<<

>>>Click the chart to see on full screen <<<

Above 16265 - Possible rally till 17040.

>>> CEATLtd - Hourly Chart <<<

>>>Click the chart to see on full screen <<<

We have re-entered our short near 1139, Expecting for fall below 1100.

>>> Performance till 13th April, 2016 <<<

>>>Click the image to see on full screen <<<

Kindly send email to niftyforall@yahoo.com for details of our service or whatsapp @ 9677924975.

Next Resistance 7720

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

In two days - it was a 200 Points Rally. Above chart shows how the Price broken down from the channel and thrown back again to test the channel bottom. If the count I have marked is not wrong, Wave X, then Price may get a stiff resistance from 7720-30, Else Rally may continue above 7720-30. Cheers!!!

Sudden Spike - May Face Resistance @ 7677 & 7720

Dear All,

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Sudden spike today may face its resistance @ 7677 and 7720.

>>> LICHSGFIN - Shorted @ 480 <<<

>>> Click the chart to see on full screen <<<

Shorted @ 480 Today and holding for a correction. Cheers!!!

Weekly Review - 11.04.2016

Dear All,

Fall in crude oil prices, mixed economic data from major economies along with uncertainty over rate hike by the US Federal Reserve kept Indian equity markets more nervous.

Investors’ attention now has shifted to fourth quarter earnings starting next week after the market discounted the Reserve Bank of India's (RBI's) interest-rate cut that was widely expected.

The RBI policy actions were on expected lines, with a 25 bps rate cut. Overall, we believe that the measures are positive for the fixed-income market and we should see a gradual easing of long-term yields. In the near-term, the equity markets are likely to remain lack-luster as the earnings season kicks in. There would be stock-specific movements as results roll out. Going into May, the global markets will look to further actions by the Fed, ECB and the outcome of the referendum in Britain regarding membership of the European Union. Hence we may see volatility.

Investments by FIIs, trend in global markets will be the key driver of the market in the truncated week ahead.

The markets will remain closed on Thursday and Friday on account of Dr Baba Saheb Ambedkar Jayanti and Ram Navami, respectively.

The government will announce Index of Industrial Production (IIP) data for February and the consumer price index (CPI) data for March 2016 on Tuesday.

The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts next week with IT major Infosys announcing its Q4 March 2016 results on Friday.


>>> Nifty Weekly Chart - Posted last Weekly Review <<<

>>> Click the chart to see on full screen <<<

Posted on last weekly review - Hanging man and Death Cross Over. See what happened.

>>> Nifty Weekly Chart - Happened <<<

>>> Click the chart to see on full screen <<<

Price corrected nearly 235 Point from the high and we expect more correction in the coming week also.

>>> Nifty Daily Chart <<<

>>> Click the chart to see on full screen <<<

After 7580, next key support shall be 7526-30, if breaks fall to continue, Else expect some bounce.

>>> Bank Nifty Weekly Chart <<<

>>> Click the chart to see on full screen <<<

Weekly Chart for Nifty Bank - Shows a Bearish Engulfing Candle. Caution advised.

>>> Bank Nifty Daily Chart <<<

>>> Click the chart to see on full screen <<<

Bank Nifty - after resisted @ 16265 - Price made a fall till 15458. 15600 being a good support must hold next week for an healthy upmove. Else price may test near 15180.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

15600 looks important. lets wait.

>>> Apollo Tyre - Booked Profit <<<

>>> Click the chart to see on full screen <<<

We Booked our Short in Apollo Tyre with Rs.30K Profit.

>>> LICHSGFIN - Booked Profit <<<

>>> Click the chart to see on full screen <<<

We Booked our Short in LICHSGFIN with Rs.17600 Profit.

>>> TATAMOTORS - Booked Profit <<<

>>> Click the chart to see on full screen <<<

We Booked our Long in Tata Motors with Rs.15000/- Profit.

>>> SKSMicro - We have Shorted <<<

>>> Click the chart to see on full screen <<<

Shorted SKSMicro and Holding for a good correction.

>>> CEAT LTD - We have Shorted <<<

>>> Click the chart to see on full screen <<<

Shorted CEATLTD at 1097 and test 1077 almost 20 Points down. Holding for more correction.

>>> Performance till 08th April, 2016 <<<

>>> Click the image to see on full screen <<<

For details of our service send email to niftyforall@yahoo.com or whatsapp @ 9677924975