On 31st July, have told you Nifty has to do sw(b) and the possible target upto 5107 or near to it.
Attached above is Updated chart as B wave is again divided as a-b-c, as I see there is a Head and Shoulder formation on chart, break below the trend line as marked may see 5107 as given earlier.
Attached is 5 min chart - shows clear picture of Head and Shoulder as MACD gives a Negative sign and support my view for 5107.
So is there any Alternative View, Yes
>>ALTERNATIVES FOR NIFTY<<<
Attached above is the Eod chart - As 50 & 200 dma took support at 5164 and the Trend line support suggest a possible upmove from here upto 5300 or more to fill the gap left above.
Hourly Chart also suggest a Reverse Head and Shoulder Plus a Bullish Pole Flag formation - which should give a Break out next week may target 5300+.
>>> Stock <<<>>>ICICI BANK <<
On 30th July Sell given on ICICI Bank as follows - have updated the chart also - Refer Our Earlier Post as given above chart...
(03/Aug/2012 09:35:10): *****STOCK-UPDATE***** ICICI BANK made a low of 945, below our first target 950. Sell given on 30th July at 970. Hold for second target 930 & 900 soon
Peformed as per below chart
>>>>Stock<<<>>>SBIN<<<
Earlier I have Posed SBIN on 20th July when it was at 2134 - SBIN made a Low of 1931
As per the above chart - SBIN may move up for sw(4) upto 2074 and may fall further for making a fresh low.
>>Stock<<<>>TATA MOTORS<<
Sell given on Tata Motor as on 20th July - near 223. Made a Low of 203 on 26th and still more to go on coming days as per given below
>>>Stock<<<>>>>PANTALOON<<<
We had an Excellent Profit on Pantaloon - As I not posted the Chart earlier - Posting the chart for the first time.
23 Jul, 2012 9:51:16 AM *****STOCK-ALERT***** Sell & Hold PANTALOON RETAIL below 177 for a Target of 169 & 162. SL above 184. (all cash levels)
26 Jul, 2012 10:59:49 AM*****STOCK-update***** PANTALOON all target achieved. Sell given on 23rd July @ 177. Cmp:162.50. Book Full Profit & Exit. Profit 14.50 X 2000 = Rs.29000/- Hope All enjoy the Call
>>>>Stock<<<<>>>>>CHAMBAL FERTILIZER<<<
Chambal Fertilizer - Not posed earlier - So attaching the chart for the first time - But send calls to clients..
23 Jul, 2012 1:21:24 PM *****STOCK-ALERT***** Sell CHAMBAL FERTILIZER Futures if breaks on cash below 73 for a Target of 70.40 / 67.30 & 63.30. SL above 75.
26 Jul, 2012 12:07:48 PM *****STOCK-UPDATE***** CHAMBAL FERTILIZER cmp: 70.50. Sell given on 23rd July @ 73. First Target achieved. Book 50% Profit. Profit So Far 2.50 X 4000 = Rs. 10,000/-
Also stock made a Low of 68 on 30th July (near 2nd Target) and also informed clients to Book More Profit, which I dont have that message now.
At Present Stock closed above 70 and even now the stock is a Sell on Rise Only.
Disclaimer :- All the above Charts on Nifty and Stocks are Purely baed on Technical's Only. I may change my views as per market conditions also. Readers of this Blog should understand the Risk before taking any position.
Happy Week end and Cheers!!!
