Thursday, May 30, 2013

Crossed 6128

Dear All,

>Click the chart to see on full screen<

Unlike Yesterday said, 6128 Crossed and Resistance line also broken on the upper side. So changed counts and views are given above. If the ongoing is a B Wave, then B wave is retracing bit high and may even touch the Upper channel of Pitchfork. So lets wait for clarity.

>>> Can Bank <<<

>>> Given Yesterday <<<

>Click the chart to see on full screen<


>>> Happened and Yet to <<<

>Click the chart to see on full screen<


Yesterday said CanBk to touch 415 and today Morning Booked as it is. Fresh call generated also done first target. Looking for more downside in days to come. Cheers!!!

Wednesday, May 29, 2013

Expiry Day

Dear All,

>Click the chart to see on full screen<

No major change as it was a very choppy day ahead of Expiry. Still holding below the Resistance line as gave Yesterday. So lets wait for tomorrow for any more clarity.

>>> Can Bank - Updated as on 11th May, 2013<<<

>Click the chart to see on full screen<


>>> Can Bank - Happened and Yet to <<<

>Click the chart to see on full screen<

Unlike Previous Chart, we had some changes on counts, though the pattern looks like a possible H&S. Hence break below 415 and the base like or nick line may trigger a big fall on stock. We had a call on Can Bank today and done 2nd target also as give on chart. So lets see how H&S is going to perform.

Tuesday, May 28, 2013

Resistance 6128

Dear All,

>>> Nifty - 2 Hour Chart <<<
>Click the chart to see on full screen<

Have some major changes on counts today as the Key level 6117 breached. Earlier have predicted the upmove as (iv)th wave, instead have marked as wave (b) and hence the Resistance might be 6128, if not crossed then possible to fall for wave (c) on the downside.

>>> Nifty - 5 Mins Chart <<<

>Click the chart to see on full screen<

Attached above is a 5 min chart marked with key sub waves to facilitate for ABC (3-3-5) pattern. Hence 6228 if not crossed then a possible fall upto 5890 and 5830 for Wave C coming.

Monday, May 27, 2013

Bull or Bear Trap ????

Dear All,

>Click the chart to see on full screen<

Nifty surged sharply above 6030 resistance after index heavyweight Reliance Industries announced a significant gas and condensate discovery in the KG D6 block.
So the above chart looks like a Head and Shoulder, if this is right!!! then should make a sharp fall from here, provided the price should break the channel mentioned on chart.

6114-6118 should act as a Resistance. Support 6083,6048 and 6005. Lets See

Saturday, May 25, 2013

Weekly Review 27.05.2013

Dear All,

>>> Nifty-Daily <<<
>Click the chart to see on full screen<


Weekly chart gave a Bearish engulfing candle, no doubts its a clear signal from bear. Daily chart suggest here that the top has been formed at 6229 and broken many supports like 6230 and 5971, Now I feel that Nifty may touch the 50dma or the middle support line as i have given on chart. Lets see.

>>> Nifty - Hourly <<<
>Click the chart to see on full screen<


Hourly Chart suggest the Price struggling on the Lower end of the channel as well as 200 Hour MA, Break below these line may take support at 5928 and 5854.

>>> Nifty - 5 Mins <<<
>Click the chart to see on full screen<


Lets have a closer look at 5 mins chart to know how the fall is happening. I feel the fall here is a (iii)rd sub wave and having some extensions and last friday consolidation is a sub wave (iv) and it looks like an expanding triangle with a-b-c-d-e and immediate resistance at 6030 as shown on chart.

>>>SBIN - As Updated on 22nd May, 2013 <<<
>Click the chart to see on full screen<

>>>SBIN - As Update on 23rd May, 2013 <<<
>Click the chart to see on full screen<


>>> SBIN - Happened and Yet to <<<

>Click the chart to see on full screen<


SBIN as said before Result day and Happened on the day are produced above. Now whats next ??? 2093 a Good support, if broken the fall must continue, else SBI may bounce strongly to 2600+ as shown on chart. So Once again Nifty in the Hands of SBI. Very interesting stock to follow.

>>>> Titan <<<

>Click the chart to see on full screen<

Have already given Titan for the last 2 weekly reivew and said fall is coming. Now the above chart suggest a Possible H&S on daily chart, suggest more fall on card. So I feel every rise is a selling oppertunity.

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

Yes again Crompton, Said last time it won't Cross 108. But Crossed and unable to hold and fell below 100. Now as shown on chart if break the lower end of the channel get ready for a free fall.

>>> Bank of India <<<

>Click the chart to see on full screen<

Bank of India - one more H&S Candidate..Nothing more to say!!!


>>> Performance <<<

>Click the chart to see on full screen<

Interested can send your query to niftyforall@yahoo.com.

Thursday, May 23, 2013

Support 5928 & 5854

Dear All,

World Market along with Indian Market too fell sharply Today, as fears over a tapering of the Federal Reserve’s bond-buying program continued to play out. I have warned about this on my Face Book Yesterday itself. Those worries and weak China data led to heavy losses for global stocks, with Japan equities suffering their biggest one-day loss in more than two years.

Also State Bank of India (SBI), the largest commercial bank in the country, today said its net profit for the quarter ended March 31, 2013 fell by 18.5% from a year earlier to Rs 3,299 crore on account of higher provisions and decline in net interest income. SBI shares plunged nearly 7% as earnings were poorer than market expectations.

Reacting to the meltdown in global equities, Finance Minister P Chidambaram said that the US Federal Reserve Chairman's statement has been misunderstood by the market. He said that foreign inflows into India in May have been copious and there is no need for investors to be nervous.

Meanwhile After S&P retained the lowest investment grade for India a week back, Moody's Analytics, in a statement today, said that the Indian economy is growing below its potential.

It said, "The government believes India can grow at an 8% pace if everything goes according to script. We think this is unlikely, seeing India’s potential growth rate at around only 7%; anything higher will fan inflation."

>>>NIFTY<<<

>Click the chart to see on full screen<

As wrote earlier Nifty broken the key support 6070 and 6025 and made a low of 5955.85. Now 5928 should be the support and if breaks then should fill the gap left at 5854. Lets See.

>>> BANK NIFTY <<< - as Posted on Face Book Yesterday
>Click the chart to see on full screen<


>>> BANK NIFTY <<<< - Happened <<<

>Click the chart to see on full screen<


>>> SBIN - As Updated on Face Book <<<


>Click the chart to see on full screen<


>>> SBIN - Happened <<<


>Click the chart to see on full screen<


>>>> Maruti - Performance <<<<
>Click the chart to see on full screen<


>>> Tata Global - Performance <<<
>Click the chart to see on full screen<


>>> LicHsgFin - Performance <<<
>Click the chart to see on full screen<

Wednesday, May 22, 2013

Support 6070 & 6025

Dear All,

>Click the chart to see on full screen<

Almost broken the channel after breaking the 50 HR MA yesterday. Next Support at 6070 and 6025. Break below 6025 can bring a Heavy sell Off.
Entire global markets looking for testimony from Ben Bernanke's before the US Congress. Any negative comment or news can impact the world equity market tomorrow along with commodity market as well. Lets wait and see.

Tuesday, May 21, 2013

Broken 50Hr MA

Dear All,

>click the chart to see on full screen<

Wrote Yesterday about the importance of 6146 and broken today decisively. 50 Hr MA also broken shows that this fall is not an usual one, may be a warning singal from Bear. 6113 and 6103 if broken may break the Channel support as shown on chart, may try to fill the gap left at 6000 level. 6052 and 5942 are 23.6% and 38.2% retrace from the raise of 5477. Tomorrow may be a trend decider, going to be interesting as well.

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

Jp Associates after giving a break out on IHS, Price slipped today. If 75.40 breaks then the IHS becomes a false one and fall should continue, may be a deep selling also possible. Lets See.

Sent on May 21, 2013 09:45:45 AM ****N4A-STOCK-ALERT**** Sell JPASSOCIATES below 79.40. SL above 81.5. Target 77 and 75 (all spot lvl)

Sent on May 21, 2013 12:04:40 PM ****N4A-STOCK-UPDATE**** JPASSOCIATES NEAR 1ST TARGET 77. SELL GIVEN AT 79.40. PROFIT 4000X2.4=9600. OTHERS SL CTC

Monday, May 20, 2013

Support 6146.

Dear All,
>Click the chart to see on full screen<

Above chart updated during market Hours on Face Book. Said 6146 is Important.
>> Happened on Nifty <<

>Click the chart to see on full screen<

Formation looks like an expanding Triangle. Count also suggest end of (v)th wave, shall be confirmed if breaks below 6146. If breaks 6146 then possible fall upto the lower end of the channel. Lets See.
> Crompton Greaves <

>Click the chart to see on full screen<

We had a Sell call today on Crompton as given below.

Sent on May 20, 2013 12:21:25 PM ****N4A-STOCK-ALERT**** Sell CROMPGREAV below 105.50 SL above 107.80. Target 103.20, 101.80 and 100.40 (all spot lvl

Sent on May 20, 2013 02:44:16 PM ****N4A-STOCK-ALERT**** CROMPTON DONE ALL TRAGET AT 100.50. BOOK FULL PROFIT 2000X5=10000/- ENJOY

As per above chart attached, I feel that Stock completed sub wave (iv) and should fall below 87. So I remain bearish still on the stock. Lets See..

Saturday, May 18, 2013

Weekly Review - 20.05.2013

Dear All,

Standard & Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.


S&P's statement came as Finance Minister P. Chidambaram was in Paris to sell investors on India, part of a road show series that in recent months has taken him to New York, Singapore, Tokyo, London, Hong Kong, Frankfurt, Ottawa, and Toronto.

"We have indicated compared to one year ago, there (is) some easing of the pressure towards the downgrade of the rating," S&P credit analyst Takahira Ogawa said on a conference call on Friday.

"But nonetheless there is still more than one-third of chance for downgrade unless we see significant improvement of the factors that we mentioned," he said.

India's benchmark 10-year yield rose 4 basis points to 7.41 percent from levels before S&P issued a statement affirming the BBB- rating and negative outlook. The yield closed at 7.39 percent on Thursday.

Since taking office in July, Chidambaram has pushed a series of reforms aimed at shoring up government finances and reviving investor confidence in an economy that grew at just 5 percent in the fiscal year that ended in March, its worst in a decade.

However, the most recent parliamentary session ended early amid heated political acrimony over recent corruption scandals, stranding several pieces of legislation including a land reform bill.

Chidambaram has said he will stick to a budgeted fiscal deficit target of 4.8 percent of gross domestic product in the fiscal year ending March 2014 after being able to trim the deficit to around 5 percent in the previous fiscal year.

"We may revise the outlook to stable if the government carries through with its plans to unleash public and private investments (for example, by enacting the land acquisition bill), to implement a nationwide government sales tax, or to further trim fuel and fertilizer subsidies," S&P said.

S&P and its rival Fitch had cut their outlook on India to negative last year, warning the country of a possible rating downgrade to "junk" on worsening public finances, a slowing economy and persistent political gridlock in New Delhi.

In an April 25 meeting with S&P, Indian officials argued the outlook should be changed, and the country deserved an upgrade for actions taken by Prime Minister Manmohan Singh's government to put finances in order and bolster investor confidence.

"S&P's warning of downgrading India to junk status has come as a surprise. At this juncture when signs of improvement are on the horizon, there is a high likeliness that the problems would soon be tackled," industry chamber Ficci said.

Another leading chamber CII said the negative outlook affirmation by S&P for India's BBB-status is "unfortunate".

Within hours the finance ministry stormed into action with chief economic adviser Raghuram Rajan challenging S&P's assessment. "It is disappointing that S&P has not seen it fit to improve its outlook for India, especially given that it acknowledges the important steps taken by the Indian government in recent months. International institutional investors, who have invested over $17 billion into India so far this year, do seem to have a different view. The government will continue to do what is necessary to keep India on a stable, sustainable, and strengthening growth path," Rajan said.

So is India in Trouble again ??? So what my Happen if S&P Downgrades India :-


So Lets move to technicals ..

>>> Nifty - Monthly <<<

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

Monthly Chart for Nifty looks very scary - as Macd on its all time low while Price moving to new High like a Tripple Top ????
>>>> NIFTY - Daily <<<<

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

No Major change in Daily chart, after the break out Nifty still on its way up. But notable things here are Macd and Rsi struggling to move along with Price as it usually happens in the last leg of upmove. Only thing to wait is to look for a meaning full move in coming days neither down or upper side.

>>>> NIFTY - HOURLY <<<<

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

Cross above 6198 should lead to 6250 - Friday consolidation suggest that sub wave (iv) completed at 6146 and move up till 6198. Now above 6198 should target for 6250 and 6326.

>>> SBIN - Update <<<
>>> As given on Last weekly Review <<<
>>>Click the chart to see on full screen <<<

>>> Happened and Yet to <<<
>>>Click the chart to see on full screen <<<

All explanations on chart.

>>> Performance <<<

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

Thursday, May 16, 2013

Resistance 6187 & 6194

Dear All,

>Click the chart to see on full screen<

Another Choppy and volatile market, raises concern and hard to decide the levels too. Ongoing last leg of 5th wave staying above the middle line as shown on chart should be taken care. 6187 (today high) and 6194 remains as a resistance, cross above can bring 6247 on screen. Many stocks are tiered, though they are making extensions along with nifty. If any bad news emerges, looks like it may trigger a big sell off.

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

Voltas broken down from the raising wedge, forming a H&S pattern. If the base line gets broken, no doubt stock should fall under selling pressure.

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

Titan Industries looks weak if breaks below the support line as marked on chart. Lets see.

Wednesday, May 15, 2013

New High - Whats Next ???

Dear All,

>Click the chart to see on full screen<

Yes, Everything changed for me due to this rally. Earlier assumed as ongoing rally as wave (x) or 4th wave is making a doubt zig zag, but today break above previous high and resistance confirmed it as 5th wave rally.

So why this happened ???

>Click the chart to see on full screen<

The fall happened on Monday was the end of sub wave (iv) as it was a 'Running Flat' Correction. As shown on chart 5970 gave support and hence a strong rally emerged for last leg of Upmove as 5th wave. Usually a 'Running Flat' is an indication of a Strong Market.

>Click the chart to see on full screen<

Nifty inside a channel - if crossed may test resistance like 6193 and 6246. Lets See.

Tuesday, May 14, 2013

Resistance 6058 & 6082

Dear All,

>Click the chart to see on full screen<

After Break down on monday, its time for a small pause to go for wave (ii), Resistance 6024,6058 and 6083 will curtain the bulls.

>>> Ranbaxy - Update<<<
>Click the chart to see on full screen<


Yesterdays Bad News - is Today's Good News - Applicable in Stock Market

Yes it applied to Ranbaxy also today. Hence Analyst appeared on TV said 'Worst is Over' for the Stock. Stock gaineds too after company has agreed to pay $500 million (approximately Rs 2,743 crore) to resolve fraud allegations that the company sold adulterated drugs and lied about it to US regulators.

So what does Tehcnical Say about it.??

464 and 474 should be the channel top if crossed my give upper hand for Bulls.

Stock opened at 423.8 and closed at 458 with good volume should be taken into account.

So lets wait and see.

Bears Back - But Can it Stay ???

Dear All,

>Click the chart to see on full screen<

Finally Nifty broken down from the raising channel. Now two supports 5964 and 5870 along with the Gap left at 5854 area. Since for a quite long time Nifty moving up with -ve div, even nifty bounces now, its a chance to sell on raise since these supports got tested. Lets see.

>>>Ranbaxy<<<

The country's biggest drugmaker, Ranbaxy Laboratories on Monday agreed to pay $500 million (around Rs 2,743 crore) to resolve fraud allegations made in a whistle-blower's lawsuit and federal criminal charges that the company sold adulterated drugs and lied about it to US regulators. This is the largest false claims case involving a generics drugs manufacturer.

Ranbaxy agreed to pay a criminal fine and forfeiture totalling $150 million and to settle civil claims for $350 million. The generic drugs at issue were manufactured at Ranbaxy's facilities in Paonta Sahib and Dewas, India. They include acne drug Sotret, epilepsy and nerve pain drug gabapentin, and antibiotic ciprofloxacin.

Ranbaxy, in papers filed in Federal court in Baltimore, admitted it had sold batches of drugs that were improperly manufactured, stored and tested. The company also pleaded guilty to making fraudulent statements to the Food and Drug Administration (FDA) about how it tested drugs at two of its Indian plants.

The US Department of Justice said the company acknowledged that FDA's 2006 and 2008 inspections of the Dewas facility found incomplete testing records and an inadequate stability programme, and manufacturing practices that didn't follow regulations.

Ranbaxy, majority-owned by Japan's Daiichi Sankyo Co Ltd, stopped selling drugs to the US markets while it fixed problems with its manufacturing procedures in the United States and India.

Arun Sawhney, MD, Ranbaxy said: "Today's announcement marks resolution of this issue. While we are disappointed by conduct of the past that led to this investigation, we strongly believe that settling this matter now is in the best interest of all of Ranbaxy's stakeholders". The conclusion of the Department of Justice investigation does not materially impact our current financial situation or performance, he added. In 2011, Ranbaxy had set aside $500 million to pay up a fine to US government for its faults. Ranbaxy USA also accepted that FDA's inspection of Paonta Sahib facility in 2006 found incomplete testing records.

>Click the chart to see on full screen<

All my clients are short in Ranbaxy from last week. Break down on chart with big volume suggest the fall is not going to be a smaller one. Yesterdays Bad News definitely not good for stock. So lets wait and see. Cheers!!!