Weekly Review :-02.12.2013

Dear All,

>>> Nifty - As Updated on Friday <<<

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

Wrote Yesterday about Possible bullish break out on chart.

>>> Happened and Yet to <<<

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

As said broken out and more fire works above 6200. If GDP is good, Short Sellers must be cautious.

>>> Bharti Airtel <<<

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

Yes we are holding Long in Bharti Airtel. Have booked Part Profit. Looking for a good break out soon.

>>> Syndicate Bank <<<

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

Syndicate Bank done our first Target. More upmove coming for next 2 targets also.

>>> Cipla <<<

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

Already wrote last week about Cipla - formed an a-b-c-d-e patter. Today gave a Break out on Hourly chart. Yes we are long in this counter. Buying on every dips is advisable.

>>> NHPC <<<

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

Yes, Just buy it for good target on the upper side.

>>> PERFORMANCE <<<

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

Resistance 6114 & 6200

Dear All,

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

On bullish alternative, its seems like we are on the edge of break out. Key resistance 6114 and 6200. Now if breaks these resistance we may see a rally coming in.

Expiry to decide the Trend

Dear All,

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

A Cat on a Wall again. Expiry should decide the trend. As said yesterday nifty took support at 6030. Next immediate resistance 6120 if breaks on the upper side or the trend line, Bulls may take charge.

Support 6005 or 5972 broken on the downside, entire market should turn downside.

Get ready for a thrilling Expiry tomorrow. Cheers!!!

Support 6030 & 6005

Dear All,

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

Nifty Support 6030 & 6005. Resistance 6161. Expiry nearing with high volatile.

>>> Bank Nifty <<<

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

Apart from chart give here, bank nifty may form a triangle pattern also. Lets See

>>> CIPLA <<<

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

Highly oversold Cipla, Completed a-b-c-d-e pattern, look for a good bounce back form here.Good stock for Bottom fishing. Lets See.

6120 Done; 6161 Next

Dear All,

>>> As Updated on Friday Weekly Reveiw <<<

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

Wrote yesterday on bearish view that 6120 as key resistance. So today hit exactly near 6120. Lets see whats next ...


>>>> Happened and Yet to <<<<

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

6120 done today. If unable to cross then fall must start, else 6161 should be the next resistance. Above then bulls may take control. Lets see.

>>> Bank Nifty <<<

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

Bank Nifty - I guess its moving as a-b-c-d-e. Now the Upmove should make it as 1-5 and hence lot of actions left. Lets See.

Weekly Review - 25.11.2013

Dear All,

Market saw a sell off after the minutes from the Federal Reserve's last meeting signalling US stimulus may be reduced in coming months and persisting worries over the slowdown in foreign investors’ buying into Indian shares.

We have discussed about the possibilities of bear attack in last several weeks. As expected Nifty saw a sharp sell-off and drifted below 6000.

F&O Expiry next week makes more nervous about where the nifty is heading for. So let discuss this week about the two Alternatives on Nifty.

>>> Alternative - 1 <<<

>>> Nifty - Daily <<<

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

We have discussed many time before about this bearish view as a-b-c-d-e pattern ended near 6340. Channel support and 5970 plays an important support. If breaks final support comes from 5875 or 38.6% fib lvl.

>>> Nifty - Hourly <<<

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

Last have mentioned about Island Reversal, If you are my regular reader you might remember that too. Friday rally failed to fill the gap left on the island due to sell off on the later part of the trade. Monday if 5972 hold then nifty should bounce till 6064 and 6120 for sw(ii) as shown on chart. Once the gap get filled the index should resume its fall on the downside.

>>> Alternative - 2 <<<

>>> Nifty - Daily <<<

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

Nifty daily - An alternative Bullish view - May 20, 2013 Nifty has completed its First wave upmove. Fall upto 5118 on Aug 28th shall be wave 2. So finally we are on wave 3. After hitting a new life high on Nov 03rd, now Index trying to complete its Irregular 2nd Wave consolidation.

If Nifty hold 5972 or takes support near to it, an IHS may come into effect and a Bullish upmove for New index high possible in near term.

Fundamentally there are lot of issues on our economy, many may argue that after slow down hitting our economy how index can move up to a life time high. But remember How DOW index made life high when there are lot of issue on their economy too.

So its going to be an Interesting move on Nifty again.

>>> Nifty - Hourly <<<

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

Once again Hourly chart given here for an bullish argument. An IHS here looks very effective if the channel hold. So Short (Bearish Traders) on Index should be kept carefully with Proper Stop Losses. Get ready for a Jumbo upmove if the Support not breached on the downside.

>>> BLOCK BUSTER CHART <<<

>>> Auro Pharma <<<

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

>>> ZeeL <<<

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

>>> ICIIC Bank <<<

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

ICICI Bank hit 1011 on friday. Second Target 1030 done with a Profit of 55 X 250 = 13750.

>>> MISSED CALLS <<<

>>> Godrej Ind <<<

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

We gave Profit booking when it hits first target, and it seems many have not booked it. Also re-initiated next day failed and hit sl. Loss Rs.5000.

>>> Can Bank <<<

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

Exited with a Loss of 3000.

>>> PERFORMANCE <<<

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

Island Reversal on Nifty

Dear All,

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

Yes its a Island Reversal Pattern. So technically there should be a bounce back (say as 'Throw back') should be there to fill the gap left between 6096 to 6108 level. So there can be an another relief rally possible. Let's See.


>>> Godrej Industries <<<

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

Godrej Ind on IHS Pattern, We entered long and booked an Part Profit of Rs.4000. But later part Sell off in Nifty broken down the stock to hit sl at 275. But tomorrow if stock able to hold 273, the one can enter long again with a sl of 273 for a good upmove. Lets See.

>>> ZeeL - As Updated Yesterday <<<