Get Ready for Bottom Fishing

Yesterdays Falling Wedge break out did not give returns today - as we saw as gap down today also. It seems like the Diagonal fall as last leg - shows still we need Patience. Nothing more to say!!!

>>>ANDHRA BANK <<<

Andhra Bank - Looks very Safe Buy now. As Per chart a Safe Traders can Buy above 107.70 for a Good Profit from Current Level. Good Volume at Lower Level shows accumulation Started. Lets See!!!

Be Patient for a Relief Rally

As I wrote Yesterday Nifty today touched the Key Resistance 4950-55 and closed at 4939. Nifty able to come out of the falling wedge - seems like a Break out for an Relief Rally - which should be sw(4). Between the Resistance should be 4970 / 5030 and 5075 should be watched.

Today Performance :-

>>>NIFTY<<<

5/15/2012 9:41:17 AM): *****NIFTY-ALERT***** Buy NIFTY Spot if breaks above 4915 for a Target of 4950 / 4990 with a SL of 4890.

15-05-12, 01-36-28 pm ****NIFTY-Update***** Nifty made a High of 4952. Buy given at 4915. First Target Achieved. Book Partial Profit.

>>>SBIN<<<

5/15/2012 10:46:54 AM): *****STOCK-ALERT***** Buy SBIN if trades above 1862 with a SL of 1835 for a Target of 1890 & 1950

Made a High of 1871 - Holding

>>>IDBI<<<

(5/15/2012 11:55:32 AM): ****STOCK-ALERT***** Buy IDBI above 91.60 for a Target of 93.40 / 94.80 and 96.60 with SL of 90.10

Holding -


>>>ANDHRA BANK<<<

(5/15/2012 12:35:18 PM): ****STOCK-ALERT***** Buy ANDHRA BANK above 105 for a Target of 108 / 110 / 112 & 115.50 with a SL of 102.

Made a High of 107 Near to First Target. Holding

Wait for Relief Rally !!!

Nifty making a more choppy waves inside a contracting channel with +ve Divergence shows a Bounce back any time. Also an Important Gap left as on 17th Jan, 2012 at 4880 has been filled today seems to be increasing the hope for a Bounce very soon. Important Resistance at 4923 and 4950-55 should be crossed tomorrow for any further up move. Let see!!!

>>>NIFTY<<<

(5/11/2012 3:04:52 PM):*****NIFTY - ALERT***** BUY AGAIN NIFTY NEAR 4930 WITH A SL OF 4920. TARGET 4960 & 4990. CMP: 4932
Made a High of 4956 - Near First Target - Partial Profit Booked.

(5/14/2012 12:06:35 PM): Update:- Can Bank did not trigger Our Buy Price.
Axis Bank Hit SL at 1000. Exit.
Nifty Hit first Target & Hit SL. Exit
IVRCL SL Hit Exit.
BHEL Exit.
Bank Nifty Exit.

How Low can You Go - Nifty ???

No one would like to see a Market like this unless You are a Short Trader.
Nifty has really gone Mad, broken the Key Level 5000 and closed near to 4900.
So the Important Question is How Low can Nifty Go from here.
Lets See.

As per Eod - the Picture does not Look good.
1). Nifty Closed below 200 dma.
2) Nifty Closed below 61.8 Retrace which may go down to Next 78.6% which is 4766.
3) Nifty broken the Trend Line at 5070.

Attached Hourly Chart says there is a Probability for an Interim Bounce from current level before Next Fall.
It seems Ongoing sw(3)(5)(1) might have completed - and may Bounce for sw(2) as shown on Chart with arrow mark.
Also the fall looks like a Falling wedge - break above the channel may give some Relief Rally for Bulls next week.
The Bounce could be upto 5040 and 5090 or even above that...

Attached is an Alternative Scenario on Nifty Chart - as we might have completed sw(3) and looking for a bounce.
Breaking the Falling wedge bounce should be sw(4) which may target for 5124.

Friday's Performance :-

>>> IVRCL INFRA <<<
(5/11/2012 11:44:08 AM):*****STOCK-ALERT***** BUY IVRCL-INFRA BETWEEN 49.50 - 50 WITH A SL OF 48. TARGET 54 & 56
High Made 51.90 - Holding

>>>IDFC<<<
(5/11/2012 1:03:51 PM): *****STOCK-ALERT***** Buy IDFC if trades above 118.5 with SL of 117.4 for a Target of 122 & 127
(5/11/2012 2:18:19 PM): *****STOCK - UPDATE***** IDFC Buy given at 118.5 - First Target 122 Achieved, Book Partial Profit
Holding Rest for 2nd Target

>>>NIFTY<<<
(5/11/2012 1:23:57 PM): *****NIFTY-ALERT***** Nifty Spot if trades above 4930 can move upto 4960 & 4980. Support @ 4905.
(5/11/2012 2:12:24 PM): *****NIFTY-UPDATE***** Nifty Near 2nd Target also at 4980. Buy given at 4930. Book Solid 50 pts.
(5/11/2012 3:04:52 PM): *****NIFTY - ALERT***** BUY AGAIN NIFTY NEAR 4930 WITH A SL OF 4920. TARGET 4960 & 4990. CMP: 4932
Holding Long - Low made after the Calls @ 4922.95


>>>BANK NIFTY <<<
(5/11/2012 2:05:53 PM): *****BANKD NIFTY-ALERT***** Buy Bank Nifty Spot above 9460 for a Target of 9600 & 9960. SL below 9380
Holding Long - Low Made after this Buy Calls @ 9381.65


>>>BHEL<<<
(5/11/2012 3:23:36 PM): *****STOCK - ALERT***** Buy BHEL NEAR 220 WITH A SL OF 216 FOR A TARGET OF 230 & 236
Holding for the Target

Roller Coaster Ride with Bear

Yes its really a Roller Coaster Ride in Stock market - as this week market Swing here and there - its a Night mare for Traders as well as Investors -

Nifty on sub wave 3 and tomorrow is Friday = Bear Domination ????

Yes may be this picture comes reality tomorrow, if today low 4950 breaks which is an Important support to be watched tomorrow. If the Support Holds then Possibility of Upmove upto 5040 & 5080 not ruled out. Lets See..

Performance on Nifty Today:-

(5/10/2012 9:18:53 AM): *****NIFTY-ALERT**** If Nifty able to trade above 5013 then look for 5060 with a SL of 4984

(5/10/2012 12:36:15 PM): *****NIFTY-Update**** Book Profit in Nifty 5038 - Buy given at 5013

(5/10/2012 1:00:16 PM): *****ALERT**** EXIT ALL LONGS - TATA STEEL / BGR ENERGY / ICICI BANK &. SBIN.

(5/10/2012 1:03:44 PM): *****NIFTY -ALERT**** Nifty if breaks below 5013 then fall upto 4974 can't be ruled out. Resistance @ 5031.

(5/10/2012 1:57:52 PM): Nifty Low Made 4960. Sell given at 5013. Book Profit.

(5/10/2012 2:05:10 PM): *****NIFTY-ALERT*****BUY NIFTY ABOVE 4974. SL 4950-4956. TARGET 5010 & 5050.
Low made 4950.95 (still on Hold)

Fear to the Bear

>>>NIFTY<<<

Have a done a change on my Count. As said earlier the as last c(5) - Have changed now to c(3) - Prior counts also changes as per. Refer the Chart for the Changes Counts. Support for Tomorrow at 4946, 4900 and 4836.

>>>IDBI<<<

(5/9/2012 2:09:59 PM): *****STOCK-ALERT***** Sell if IDBI breaks below 93.5 with a SL of 94.80 for a Target of 91 and 89
(5/9/2012 2:51:10 PM): *****STOCK-Update*****IDBI made a Low of 91.6 Near first Target near First Target, Sell given at 93.5.

>>>TATA STEEL<<<

(5/9/2012 9:26:59 AM): *****Stock-Alert*****:- TATA STEEL:- Buy if trades above 426 with a SL of 420. Target 435 and 445.

Tata STeel made a High of 444.5, Near to the 2nd Target.

>>>ANDHRA BANK<<<

Tomorrow if Andhra Bank Sustains below 108 then a Fall Upto 103 not ruled out.

Bears are Back !!!

>>>>> NIFTY <<<<<

As told Yesterday

Happened Today.

Now for Tomorrow Nifty had good Support @ 4950. Resistance @ 5016 & 5038.
Ultimately Nifty should test the levels of 4880 & 4844 very soon.

Today's Performance :-

>>>IDFC<<<

(5/7/2012 2:19:39 PM): *****STOCK-ALERT*****:- Buy IDFC if trades above 114 for a Target of 120 and 127 with a SL of 110.

(5/8/2012 9:16:22 AM): Stock Update:- Book Proift in IDFC call given Yesterday at 114. Cmp:119

>>>>TATA STEEL<<<<

(5/8/2012 9:21:35 AM): ****STOCK-ALERT***** TATA STEEL if breaks below 439 then a fall upto 432 and 420. Resistance at 445.

(5/8/2012 9:55:02 AM): Tata Steel 436. Intraday Traders Can Book profit here
(5/8/2012 2:56:56 PM): Cmp:428 - Book More Profit

>>>>ANDHRA BANK <<<<
(5/8/2012 1:01:18 PM): ****STOCK-ALERT**** ANDHRA BANK:-if breaks below 118 may slide upto 116.3 / 114.4/112.8. Resistance @ 119.30

(5/8/2012 2:54:18 PM): Near First Target - Intraday Players Book Profit

Do You Trust this Upmove???

>>>>NIFTY<<<<

Chart given on Friday -

Happened today as above. Now sw(4) is completed - Resistance for tomorrow at 5134 & 5168 - Nifty may reverse to a fall if these levels are not crossed. In such a Case we may see a break below today low for a Target of 4950 or near to that.

>>>>>HDFC BANK<<<<<

Chart given on Friday.

Call was send to Clients as below:-

(5/4/2012 2:50:57 PM): *****STOCK-ALERT***** HDFC BANK:- If Trades below 538-536 level then Fall upto 530 / 525 & 518. Resistance @ 549

Actually Happened - Low made 516.45

Have send Calls like Andhra Bank / IDFC / BGR Energy also :-

>>>IDFC<<<

(5/4/2012 12:16:38 PM): *****STOCK-ALERT***** IDFC:- If breaks below 115.50, then may Fall upto 113.70 / 110.80 / 108 & 104 Levels. Resistance @ 116.50

(5/7/2012 9:26:35 AM): Stock-Update:-IDFC Sell given at 115.5. cmp: 111.5. Near 2nd Target. Book further Profit.

>>>ANDHRA BANK<<<

(5/3/2012 2:24:15 PM): ****STOCK ALERT-2***** ANDHRA BANK - If breaks below 116.5 may slide 114 / 110 / 108 and 104. Resistance @ 120.

(5/7/2012 10:06:13 AM): ANDHRA BANK - Told to Sell below 116.5. cmp:106. All Target Achieved. Book profit.

>>>>>BGR ENERGY<<<<<

(5/7/2012 10:20:33 AM): ****STOCK-ALERT***** BGR ENERGY - Buy above 301-303. SL below 298. Target 308/311 & 314.

(5/7/2012 1:44:17 PM): 320 NOW UNBELIVABLE FOR ME ALSO.

>>>>>IDFC<<<<<

(5/7/2012 1:57:52 PM): *****STOCK-ALERT*****:- Buy IDFC if trades above 114 for a Target of 120 and 127 with a SL of 110.

5/7/2012 2:51:23 PM): IDFC 117 BUY GIVEN AT 114

ALL THE ABOVE CALLS ARE SEND TO MY CLIENTS WHO OPEN AND TRADE WITH MY MADURAI BRANCH IN MARWADI SHARES AND FINANCE LTD., YOU CAN ALSO RECEIVE SUCH CALLS FROM ME - BOTH YAHOO AND SMS - JUST CALL ME TO OPEN ACCOUNT WITH ME - WE ARE THE DIRECT BRANCH - WE GIVE BEST TRADING SOFTWARE LIKE DIET ODIN / NOW (BOTH EXE & MOBILE) / BROWSER BASED & BEST BACK OFFICE SUPPORT. FEEL FREE TO Call at 9677924975 or 9362081313 or 0452 – 3018000

Week End or Dead End ???

As I have intimated about H&S many time here in this Blog - Today we saw a Break down.

Now What's Next??? - Where are we ?? - Are we still going to fall ??? or a Recovery from here ??? - its a Million dollar question in every one's Mind.

>>>Today Nifty made a low of 5070 and closed at 5080 which is exactly 50% retracement of Rise from 4531 to 5628.85.

>>> Hourly Chart Shows that the fall is yet to be completed, a Possible upmove for sw(4) then a fall can't be ruled out as shown on the chart above.

>>> If there is a Scope for further fall then whats the Target ???

>>> Nifty can fall upto 4950 which is 61.8% retracement. So another 130 Pts fall in Nifty is not ruled out, which is exactly the Target of Head & Shoulder formation.

>>>> TATA STEEL <<<<

When Tata Steel Call Generated as on 03rd May, 2012.

Tata Steel after the Fall as on 04th may,2012

Krishnan Venkatesh (5/3/2012 2:01:44 PM): ****STOCK ALERT***** TATA STEEL - Looks Weak if breaks and Traders below 449 on Spot. Resistance 460/464. May slide Upto 430,415 & 400. http://niftyforall.blogspot.in

Krishnan Venkatesh (5/4/2012 2:32:51 PM): First Target in Tata Steel - 430 done. Small Traders Should Book Profit & Must Enjoy

>>>>HDFC BANK<<<

Above Chart is HDFC BANK - has broken the long term Trend Line - Hope HDFC BANK can fall Next week.

>>>Wish You all a Happy Week end <<<<

Where is the Bottom???

Nifty made a Low of 5181.2 which is Exactly 78.6% of Previous Rise - sw(1) as marked on chart. Now if this Low held for tomorrow then possibility of Upmove from here - where I can assure this is sw(5) Only. Else if breaks then the last chances of sw(5) become void. Break below today's low confirm that we are on the sw(4) and need to touch the Bottom line of H&S - which should be between 5140-5150. Hope this can be a Bottom to complete the sw(4). But looking at many stocks movement today - its hard to hold today low 5181 tomorrow - may be we shall slide near to 5150.

Tata Steel today Breaks an Important Support near 449, I hope its correcting as 3-3-5 as we are in last leg as 5(3) fall as this fall may try to fill the gap left at 425 as shown on chart. A sell call has been send to my Clients in this regard. Lets see

Oh - Still Inside H&S !!!

Phewww - Nifty Still Inside the H&S - Today made a Gap up Opening above the Trend line as marked on chart - But Closing below the Trend line shows like a "throw over" also Unable to close above 200 HrMA is a matter to concern for Bulls, may favour for Bears if continue to stay below this. - So Now I have to give regular Bull count as well as Bear count as "Alt" inside white shade.

1.) As per Bullish count we have finished sub(4) at 5154.85. Ongoing wave as sw5(1) and today down move as (2) at 38.6% retracement as marked on chart. Immediate Support at 5222 as marked on chart - break below this may enable bears to come down to fill the Gap Left at 5186 or 5199 again.

2) Alternative Bear count as we are still on sw(4) as c(4) has completed today 5279 which is 61.8% retrace from the Previous fall from 5341 to 5161. If this is true then a fall below 5154 or even low can't be ruled out.

Earlier on Monday I gave a Buy Call on Nifty to my clients which gave nearly 30 Pts Profit today Morning- which was erased on the later part of the trading. But SL is still on Hold. The Call is given below.

(4/30/2012 3:01:58 PM): ****NIFTY-ALERT***** Positional / BTST:- Buy Nifty Spot Only above 5247. SL below 5220. Target 5330.

Hope 5220 wont get broken for those who are holding the Long still. Lets see tomorrow - Cheers.

MAY (be) SPECIAL - IDFC

IDFC - May Day Special.

IDFC has completed sw(2) and getting ready for a Bull Roar 3rd Wave Upmove.
Short to Medium Term Investors Start Buying above 127 for a Good Target in Coming Days. (cmp:120.95)

Head or Tail ???

Nifty still inside a Valid H&S Only - 200 Hr MA is 5156 and 5166 is a Channel Line above that H&S may get Invalidate - On the Contrary below 5222 (this count is invalidate) Nifty may see a good Sell off - as sw(c)(5) may get continue for a fall below 5154. As i said on Friday - usually H&S formed on the lower side of the Consolidation wont be effective. So a Buy call has been given to clients today with a SL of 5222. Lets See on Wednesday. Cheers!!!

Head & Shoulder again ???

Seems like a Head and Shoulder - But EW says if 5154 Hold for tomorrow or Monday - then sub wave c(5) is a truncated one, else the fall be upto 5130/5110 and 5080. But mostly a H&S formed on the Bottom side wont get effected as we say last time at 20th Dec,2011 @ 4530 also. Above 5270 this H&S get Invalidate, hope new Bullish (count) move to start any time.
Today my call on Yahoo Messenger as

*****NIFTY-ALERT***** :- If Nifty Spot breaks below 5190 then can Slide Upto 5150 / 5130 / 5110 & 5080. SL above 5223

which hit 5154 low (fitst Target) and closed at 5186. Renewed SL of 5197 also hit - as this call no more live.

April Expired !!!

Nifty Expired April serious with out much Noice.
Today I had a Buy call on Yahoo Messenger as follows.

(4/26/2012 2:47:43 PM): ****NIFTY-ALERT**** Buy Nifty Spot near 5180-85. SL below 5160. Target 5230/5250 & 5265.

Nothing more to say today. Lets wait and see how Nifty moves tomorrow.

Enough is Enough !!!

Nifty seems to have completed Double zigzag now. Second Part marked inside Square seems to have completed 3-3-5 Flat Correction which took support at 5161. Tomorrow Resistance @ 5211 & 5235.

Cat on a Wall again ?

As said Yesterday if we are in sw(c) for a fall, then today upmove should be 4th one. In that case tomorrow 5242 or 5261 plays an Important resistance as marked on chart as its a 38.2% & 50% vice versa. Break above these levels shall invalidate the present count and possibility of Bulls trigger is high near 5310 to 5320 as there a two resistance line on the Upper side channel. We shall see up to 5600 if the upper channels gets broken.

On the Contrary if 5220 & 5180 gets broken again, fall upto 5100 - 5080 as said Yesterday can't be ruled out.

Return of Bears!!!

Its the Most painful consolidation like when market takes double zigzag or a-b-c-d-e type of consolidation - Often Stock Broking firms or Brokers has to face the pain of Less volume or Job Loss.

Today My Long call SL got triggered 2 times. First one at 5328 when Long was at 5340-44. Second SL revised at 5310. Even Last Friday SL got triggered at 5302 when Long was at 5295. Of course SL is an Life Saving Boat - As an Analyst every one may feel Bad when Hitting SL. But for the Analyst its a failure of one Call. But from Traders Point of View it a Life saving Number. When Market Crashed after Hitting SL - then one should realize the Importance of Stop Loss in their Trade. So I never feel bad when SL hit, rather should concentrate more to avoid a Long call in such a situation - Be ideal rather than Hitting a SL is my Chant always.

Yes its again A-B-C-D-E type correction - A break out above the Diagonal Pattern is considered as "throw Over" as the Later part of "E" is divided as a-b-c. Since (b) has taken almost 78.6% of (a) as marked on Chart. Now a Previous Island Reversal Gap also failed was added fuel for the fast (c) wave fall for ending the diagonal pattern at "E". Now the Target is 5080 to touch the bottom Line.

Bull - Walking on the Rope

Really sorry for Not Updating Yesterday - due to my Personnel Reason. Yesterday advised my Clients to Buy Nifty near 5195. Today it flared upto 5341 - Achieved the First Target. Given above is the 5 Min Chart - to show how Nifty moving from 5190, as I have already advised and written that the Nearest Bottom is 5180 from where we may rally. Now it seems Nifty is making an Extension waves without breaking the line marked with arrow. As per my view if its sw(5) then 5(3) is going on as marked on chart.

Yesterday Nifty unable to Perform even after breaking the Triangle Break out - as it was Resisted at 50dma as shown on Chart. So even today at the closing Send sms to Clients to Exit or Hold if able to close above 5335 Only. Now tomorrow Nifty should Break 5377.4 to confirm the Bulls Strength - from where I am Expecting a Good Short Covering and Bulls Run also, should achieve the 2nd & 3rd Target as per Buy Call given. Lets wait for Friday Move. Cheers!!!

Bulls are a Step Away !!! Get Ready !!!

Nifty Achieved the First Target 5275 and Made a High of 5295. We are a Step Away from Bulls Trigger. As marked on chart Bulls need to Break the Trend Line @ 5306 for "Bulls Rally". 5335 & 5377 are the Important Resistance to Watch there after.

Gave a Buy Call on Bank Nifty in Yahoo Messenger above 10,420. Now as given on chart if Bank Nifty able to Break Tomorrow above 10540 then a Fresh Bulls Rally to Begin as shown on chart with Trend Line.

Smells like Bulls move?

Unlike a-b-c-d-e it seems there is still hope of 5(1)(2). As Friday's low 5186 still on Hold today move looks like a Bulls Move. As shown on chart sw(2)-a-b-c is on. Now it seems (c) has retraced 61.8% of (a) which is 5190 looks like the end of sw(2). In that case sw(5)(3) must have started - means 5275 / 5303 / 5330 & 5430 (atleast first 2 Resis) should be taken out to confirm the upmove. As RBI decision for Tomorrow - Bank Nifty Play an Important Role in NIFTY move.

Today have told all the Clients on Yahoo Messenger that 5185 might be the base as off now - and to Buy above 5224 on spot level. Bank Nifty also told to buy on Last week above 10420 with a support of 9900.

Last Leg of Fall !!!

Finally Nifty took its shape as a-b-c-d-e as marked on chart to end its sw(4) journey, as it tested most of our Patience and left the air with lot of un-confirmed bad news or Rumours. As I was saying for the last 3 days 5306 which played as a crucial resistance and made nifty to fall suddenly upto 5186. Now Nifty should end its sw(4) near 5110 or 5093 next week. Magical Last upmove of sw(5) will start any time next week once it touches the Bottom Trend like as marked with an Arrow on chart as the bad news or rumours will be forgotten and Nifty may travel upward with new force. Lets See Next Week. Till then Wish You all a Very Happy Week end and Cheers!!!

Cat on a Wall

As I gave Yesterday Nifty today touched 5289.3 which was near to 5290, But failed to touch 5306. As given on Chart here Nifty has Two important Gaps to be filled and Crosses for a Healthy Upmove. Even today closed below 50Hr Moving Average does not seems to be a good Sign for Bulls. Tomorrow 5306 & 5347 are the major Road Block for Bulls. Cross above these levels may be a Bulls Trigger - else we may see Nifty to move towards or near to 5000 level soon. Infosys Result & Week End closing tomorrow makes an Interesting day ahead. Cheers!!!

Still More Hurdles ?

Nifty Showed some Recovery in the later part of the Trade today. Support 5188 still on Hold. But on going Structure suggest a-b-c, where we are in sw(b) now. An Upmove upto 5306 possible Tomorrow. As today I told to Buy Nifty above 5210 with Support as SL for a Target of 5250 & 5290. First Target Achieved in the first part of the Trade. Tomorrow 5306 Visible on chart. In Case Nifty able to Breaks and Trade above 5306 with Volume, further upmove and Good short Covering not ruled Out. Nifty may Try to Jump and Show Strength above 5338-40 on Spot as its a Clear Bulls Trigger. Lets See!!!

Confusing ?

* Have differentiated Nifty with 2 alternative Counts -
* Yellow Color count & arrow to suggest that 5228 which is 61.8% retrace should Hold on closing basis, which says sw(5)(2) was done for up move.
* As said Yesterday 5188 if Breaks then the alternative count on white color may come into a-b-c-d-e pattern - On which Nifty may touch 5080.

Get Set - Can't Go Still ???

Yes, Nifty fell more than what I predicated last time, Now the fall has retraced exactly 61.8% of previous raise as marked on chart. Now if today downside is sw(2) then Nifty should fill the 2 gaps left to avoid 'Island Reversal' Fall. Tomorrow if 5228 got broken then Last support should be at 5188 - below this level my counts became Invalid and alternative count should come into effect. Lets wait and see!!!

Get Set Go

As I wrote on Wednesday, closing was above 5320 as sw(2) seems to have completed as marked on chart with a-b-c, 'c' has retraced 50% of 'a'. Also a valid break out above the channel seems to be encouraging for Bulls. Monday Bulls should break above 5365 to break the above channel to 'Get Set Go'

Above Eod Chart shows sw(4)or(B) got completed and sw5(3) or sw(C)(3) should start if 5306 holds next week. Wednesday nifty touches 50dma (5307) and closes above is a good sign for Bull. Next week if Bull able to cross 5365 then "Get Set Go"