Saturday, October 05, 2013

Weekly Review :- 07.10.2013

Dear All,

>>>> NIFTY - As given in Last Weekly Review <<<

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Last Weekly Review mentioned as 5733 or 50% fib level as a good support, so every one saw what happened and lets see whats next

>>> Happened and Yet to <<<

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It seems like the current upmove shall be marked as wave b, hence it shows that the upmove may terminate any time for a possible down trend. MACD still on sell mode should be noted. So caution advised. Lets see in detail on hourly chart, how far the upmove may continue with a possible downside target.

>>>> NIFTY HOURLY - As given in Last Weekly Review <<<

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Last Weekly - Two alternative given. As per the second alternative worked, broken the low of 5811 and touched 5701.

>>>> HAPPENED AND YET TO <<<<

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This week also we have two alternatives..

As per the current scenario - wave b may extend till 5974 or even 6048. But if unable to hold 5922 then wave b may terminate for an immediate fall. In that case 5637 visible. Lets See.

>>> BANK NIFTY - As given in Last Weekly Review <<<

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Two Fib level given as support last week. So Bank Nifty took support at 61.7% Fib level and bounced.

>>> HAPPENED AND YET TO <<<

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As gave on last weekly review - Bank Nifty took support at 61.8% fib level, Now the upmove should face resistance at 38.2% and 50% fib level. Unable to cross may trigger sell off. Lets See.

>>> BLOCK BUSTER CHARTS OF THE WEEK <<<

>>> CENTURYTEX <<<

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>>> LT <<<
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>>> Follow up on - 03rd Oct 2013 <<<

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>>> ONGC <<<

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>>> FLOP OF THE WEEK - Bata India <<<

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Last week Flop was Bata India. We shorted at 857 and Exited at 883. Lost nearly 13000/- As shown on the chart, when price cross the Resistance line, Forced to exit. But the Price just made a high of 884.55 and came down and closed at 865. Its a Big miss for us. So whats next in this Stock.

>>>> Whats Next on Bata India <<<

Now Bata India should break the Yellow colored channel as shown on chart for fresh short. If breaks then Free Fall or Blood bath not ruled out. Those who made short last time as per my blog may carry on the short or even enter fresh short if breaks the channel as shown here. Lets See.
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>>> PERFORMANCE <<<
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