Weekly Review

>>> NIFTY <<<

Nifty so far travelling inside the Pitchfork gives us a choppy and sluggish movement, Next week if able to break below then a fall can't be ruled out.

As I wrote on Friday Nifty can't able to break above 5259 confirmed that completion of sw(b) or sw(ii) and now ready to fall for sw(c) or (iii).

A fall below the channel line as marked on chart - a fall not ruled out, may be it can be a deep fall too.

Given above is Intraday Chart for Nifty - After completion of sw(B) at 5348 - C must start with 1-5. Rather the possibility of a-b-c again is not ruled out. So marked here with 2 possible alternatives. Ofcouse I see both are on Bearish side Only.

After completing sw(A) or sw(1) at 5169, sw(B) or sw(2) retraced upto 50% of the previous sw upto 5257.75. A fall below 5197 may confirm the next fall. Middle line of the Pitchfork giving a good support, if breaks then a fall may continue.

As I have already advised my clients to sell Nifty as mentioned below

(20/Jul/2012 10:48:30): ****NIFTY-ALERT***** :- Sell & Hold as Positional If Nifty Spot breaks below 5210. Target 5130 & 5060. SL above 5260. cmp:5230

This week lets discuss some the stocks also here

>>> SBIN <<<

After Breaking the Trend line as shown on chart - State Bank of India confirmed the Fall in coming days.

Advised all my clients to sell as given below

(20/Jul/2012 10:47:04): *****STOCK-ALERT***** :- Sell SBIN if breaks below 2140. Target 2080 & 2027. SL above 2173 (All Cash Levels)


>>>> TATA MOTORS<<<

Tata Motors - Above is the Eod chart of Tata Motors - I feel its an Irregular ABC on the given above Eod chart. If the stock able to break below 217 then it may test 170 level to complete wave C.