Resistance 6590 & 6620

Dear All,

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

Expanding Triangle or Irregular Flat on Chart. So if unable to cross 6590 or 6620 may see a sharp fall. Else may continue to climb.

Weekly Review :- 24.03.2014

Dear All,

Markets are choppy last week and unable to move further. So what else left for next week as its going to be an expiry week also.

Technically RSI in over bot zone may give some correction before next upmove.

What are the other factors to consider for bulls to continue its journey.

1) Fed started talking about rate hike next Year in early Jan may not be a threat for now, though it must be watched cautiously how other countries move to protect their currencies. So expect some hawkish movement in all world currencies soon.

2) RBI still not satisfied with Inflation it seems, may not be interested in a rate cut.

3) Some more bad news coming about PSU banks still not good for Bank Index.

4) Improved economic data across the board is unlikely to prompt RBI to ease rates at its April 1 policy meeting, as core inflation remains sticky and prices could flare due to recent weather disruptions.

So lets see INR Chart also how its going to be move next...

>>> INR/USD Weekly Chart <<<

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

Above is a Weekly Chart of INR/USD - and I feel like 60 is going to be an important support on weekly basis, if unable to break may resume the fall on INR once again, which is definitely going to impact our equity market again.

>>> Nifty - Weekly Chart <<<

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

In our last Weekly Review mentioned on our weekly chart - that a Doji candle visible. This week followed by a red candle below the channel shows some thing bulls are missing to push above the channel line.

Nothing more visible on Daily Chart - So lets pass onto Hourly Chart.

>>> Nifty - Hourly - As updated on Last weekly Review <<<

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

Last Week wrote we are long on Nifty.

>>> Happened and Yet to <<<

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

We booked our long with 140 points. Next week if Price breaks the trend line and able to trade below the supports like 6487 and 6463 then stay cautious with your longs.

>>> Best of Last Week <<<

>>> Voltas <<<

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

>>> Crompton Greaves <<<

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>>> Bata India <<<

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>>> Hindustan UniLever <<<

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>>> Worst of the Week <<<

>>> Tata Comm <<<

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>>> Performance <<<

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

Directionless - 6163 Support to Decide.

Dear All,

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

Choppy move today, unable to move above the minor wedge - seems like a directionless trade today. 6463 looks important as off now. Lets See.

>>> Hindustan Lever - As Updated Yesterday <<<

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

>>> Happened <<<

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Hit Target 580 with a Profit of 9000.

Support @ 6463 !!!

Dear All,

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6463 if not broken then rally may once again resume. Else fall to continue.

>>> Crompton - As Updated on 18th March 2014 <<<

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Wrote about crompton - if breaks the green support line - fall to start.

>>> Happened <<<

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

Yes we booked earlier with a profit of 12000 and exited. Since the support line broken, expect more fall.

>>> Bata India <<<

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We had a Part Booking with Rs. 5000. So expect more fall to come.

>>> Tata Comm <<<

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SL hit @ 288 and exited with a loss of 14000.

>>> Hindustan Unilever <<<

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We are long since 562. If trades above 580 then 600+ soon. Lets See. Cheers!!!

Surprise !!!

Dear All,

The Fed's Open Market Committee concludes its two-day policy meeting Wednesday afternoon. It's Janet Yellen's first meeting in charge of the Fed and investors are looking forward to hearing from her after the meeting. The Fed is widely expected to continue trimming its asset purchase program by another $10 billion, to $55 billion a month. The stimulus program was created to support the U.S. economy and has also been a key driver behind the equity bull market.

Investors and traders will also listen closely for any possible Fed plans to revamp its strategy on interest rate guidance.
The central bank has said it will only raise interest rates once unemployment falls to around 6.5%, or inflation rises as high as 2.5%. It's possible Yellen may abandon these numerical targets to focus on qualitative information instead.

Mean while Global ratings agency Standard & Poor's today said an increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

"More companies are improving their high financial leverage and boosting their credit profiles by adopting measures such as sale of equity and assets or using their free operating cash flows to reduce debt," S&P said in a report.

So Technically Nifty also meant to open doors for many possibilities. Lets See.

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

6500-6510 Support.

Dear All,

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

We booked our Longs with 140 Pts Profit. Buy given @ 6430-6440. Now today's fall looks like 5th wave truncation. Need more confirmation to trade below the channel. Lets wait and see.

>>> Voltas - As Udpated last weekly Review <<<

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

>>> Happened <<<

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

Yes we advised to hold for 2nd Target 146. Big Profit of 38000 Done.

>>> Crompton Greaves <<<

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

Yes we Hold Short on Crompton. Expecting more fall if breaks the support line. Lets See!!!

Weekly Review :- 17.03.2014

Dear All,

>>> Weekly Chart - As Updated Last Weekly Review <<<

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

Last week wrote about the break out on Weekly Chart.

>>> Happened and yet to <<<

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

Doji candle on weekly chart. Indecision. So lets see on daily and hourly for clear trend.

>>> Daily Chart - As Updated Last Weekly Review <<<

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

Last week mentioned about IHS break out on daily chart.

>>> Happened and Yet to <<<

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

So the price re-tested the trend line. Hope it will continue to upmove.


>>> Nifty - Hourly Chart <<<

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

Hourly Chart shows a clearly picture for an uptrend. Last week ended sub wave 4 and started moving up for sw 5.

We covered our earlier shorts with nearly 100 points profit and long since 6430-40. Good upmove should continue if able to cross the channel. Lets see.

>>> Bank Nifty - hourly - As updated Last weekly review <<<

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

Last week wrote about Key resistance on Bank Nifty.

>>> Happened and yet to <<<

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

may be the end of sub wave (iv), if so then get ready for new high next week. Else break below the last week low may trigger some more correction.

>>> Flops of Last Week <<<

>>> Tata Steel <<<

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

>>> Rcom <<<

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>>> Hit of Last Week <<<

>>> BIOCON <<<

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>>> Asian Paints <<<

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>>> Voltas <<<

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

6562 Resisted & 6487 Support also Broken.

Dear All,

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High 6561, resisted near 6562 and support 6487 also broken.

>>> Bank Nifty <<<

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Bank Nifty also resistance. Lets See.

>>> Tata Steel <<<

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Hit SL today below 336. Now tomorrow if able to hold above 336, then it may be a double bottom where the stocks may bounce. Else may fall towards next support. Lets See.

>>> Rcom <<<

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

Another SL hit today. Earlier counts negated and hence exited with a loss of 6000. Now Lets review the stocks. If 110 gets broken then stock may find support some where near 102 where I feel its a good investment opportunity. Lets See.

Support @ 6487 / Resistance 6546 & 6562

Dear All,

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

Above given is a 30 mins.

>>> Asian Paints <<<

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Yes Long since 484. Look for 510 soon. Cheers!!!

Consolidation !!!

Dear All,

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Consolidation On.

>>> Bank Nifty - As Updated on Weekly Review <<<

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Wrote about Resistance Line.

>>> Happened <<<

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Hit the Resistnce line with a Doji. Lets See.

Resistance @ 6560 & 6594

Dear All,

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May be the end of sub wave iii with a resistance above 6594. Supports also given on chart.

>>> BIOCON <<<

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We shorted @ 439 and holding still, Part profit advised to book @ 429. Since the channel broken down, may fall more.