Resistance 6265 - Caution advised

Dear All,

U.S. Federal Reserve Chairwoman Janet Yellen’s testimony to the Senate on Thursday.

>>> NIFTY <<<<

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Gap filling process on nifty. 6265 if unable to cross then fall may resume. MACD not in favour of Price, should be watched carefully.

>>> BANK NIFTY <<<

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10750 not crossing and negative divergence on MACD alarm caution.

Above 6195

Dear All,

>>> Nifty <<<

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6195 Crossed. Wedge like pattern if breaks - expect fall to start. Else 6265 should reach on the upper side.


>>> Bank Nifty <<<

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Unable to hold 10750. If breaks the support given on chart, fall should resume again. Lets See.

6195 Key Resistance

Dear All,

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Nifty crossed the trend line and nearing 6195 as mentioned earlier. Now if unable to cross Resistance, may trigger sell off once again. Else may move up to 6265 to fill the gap left above.

>>> Bank Nifty <<<

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Bank nifty also crossed the trend line and gave a break out. Now 10750 if able to cross then next level should be 10970 to fill the gap left above.

>>> CAN Bank <<<

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Can Bank made a part profit of 5000. If able to cross the upper channel as shown on chart - good upmove pending.

Weekly Review - 24.02.2014

Dear All,

>>> Nifty - Weekly - As Updated Last weekly review <<<

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Last week said to Buy on dips for a corrective upmove. See what happened.

>>> Happened and Yet to <<<

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As wrote last week Nifty bounced back again. More upside left till 6265.

>>> Nifty - Daily - As Updated Last Weekly Review <<<

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Said Price may test 100 dma as it took support @ the Pitchfork middle line. See what happened

>>> Happened and Yet to <<<

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As said Price tested 100dma and another break out looks like. Now ready for more upmove.

>>> Nifty - Hourly - As Updated Last Weekly Review <<<

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Said 61.8% fib lvl as a key support, if holds then may test 6095 and 6145. See what happened.

>>> Happened and Yet to <<<

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As said crossed both 6095 and 6145, Now ready to touch 6265 on the upper side. Lets See.

>>> Bank Nifty - Hourly - As Updated Last Weekly Review <<<

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10116 or 61.8% fib lvl as a good support, to test 10407 and 10644 last week. See what happened.

>>> Happened and Yet to <<<

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Bank Nifty almost made a high of 10630, achieved my both targets. Now watch the trend line across the chart along with 200 hma for next round of break out. If able to break then possible next levels shall be 10750 and 10970. Lets See.

>>> Axis Bank - As Updated on 17th Feb 2014 <<<

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>>> Happened <<<

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>>> ICICI Bank <<<

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>>> Dish TV - As Updated on 19th Feb 2014 <<<

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>>> Happened <<<

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>>> PERFORMANCE <<<

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Support @ 6090 & 6051

Dear All,

>>> Nifty - As Updated Yesterday <<<

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Wrote Yesterday that Yellow colored trend line very crucial. So whats next, Lets See.

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Now the crucial support 6090 and 6051 should be the support and if holds expect the bounce once again. Targets as per mentioned on the chart.


>>> Bank Nifty <<<

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Bank nifty unable to cross the trend line as shown on chart. If able to hold the Supports 10415 and 10280, the bounce back possible. Lets see.

>>> ICICI Bank <<<

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ICICI Bank done first Target. If trades below the channel then expect more fall. Cheers!!!

6145 Broken - More upmove Possible

Dear All,

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6145 crossed and we hit our 15 points Stop Loss also. Now if able to cross the trend line as shown on the chart, then upmove till 6195 and 6265 possible.

>>>> Bank Nifty <<<<

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Bank Nifty taken support @ Channel top as shown on chart. 10750 shall be the next possible Target on the upper side. Lets See.

>>> DISH TV <<<

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Good Break out for Dish TV. We are long since 46 and price closed near 48. Almost 16000 Profit and more upmove coming. Cheers!!!

Key Resistance 6145

Dear All,

>>> Nifty - As Updated Yesterday <<<

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Wrote Yesterday about possible break out on nifty. See what happened today.

>>> Happened and Yet to <<<

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Yes, Broken out and hit 6141 from 6073. Now 6145 key resistance and if unable to cross then fall should resume once again.

>>> Bank Nifty - As Updated Yesterday <<<

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Wrote Bank nifty gave a fresh Break out and said upmove on card. See what happened.

>>> Happened and Yet to <<<

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Bank Nifty zoomed and hit 10618 from 10326. Now Bank nifty if unable to cross 50% fib level then expect correction to resume again, else may test the resistance level as given on chart.

>>> Axis Bank - As Updated Yesterday <<<

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Wrote Yesterday about Axis Bank for a Big break out. See what happened today.


>>> Happened and Yet to <<<

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Yes Booked 13750 Profit today. Cheers!!!

Break Out on Bank Nifty

Dear All,

>>> Nifty <<<

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Nifty break out still awaited. High volatile market increases lot of nervousness on all traders. Confusion + volatile = Loss. Fall in inflation and CAD news from FM not helping nifty for a break out.

But still I advice to follow level and continue to hold long. 6085-6095 break for a positive signal from bulls. Lets wait and see.

>>> Bank Nifty <<<

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Bank Nifty broken out of the pitchfork. I see this as a valid break out, though if the channel as given on chart gets broken means a fresh short covering.

>>> Axis Bank <<<

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We have advised Axis Bank Long quite some times before. Even now the stock looks bullish. Break above the channel should trigger a big upmove. 1125-26 should confirm the uptrend. Yes we hold long still. Lets See.

Weekly Review - 17.02.2014

Dear All,

>>> Nifty - Weekly <<<

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Though the Trend is down, I expect some pull back as corrective upmove. As said earlier we are still holding longs. Previous candle on Weekly chart had a Bullish dragon fly which tested 50 week moving average and followed by an doji like candle suggest the upmove may still happen.

>>>> Nifty - Daily As updated last weekly review <<<<

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Last week wrote 6130 as resistance and upmove should be there.

>>> Happened and Yet to <<<

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Though there is a fall stop loss 5970 saved. I still believe the fall as a-b-c and upmove may be there till 6095, 6130 and 6145. Move past 6130 or 6145 may trigger a good short covering to fill the gap left above.

>>> Nifty - Hourly Chart as updated last weekly review <<<

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Last week said - Price should fill the first gap left above.

>>> Happened and Yet to <<<

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After the sudden fall on thursday I feel that nifty should bounce once again to cross 6095 and 6130 or 6145. Move above 6130 or 6145 may trigger a short covering till 6267 to fill the gap left.

>>> Bank Nifty - As Updated on 13th Feb 2014 <<<

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Bank Nifty Updated on 13th Feb - mentioned 61.8% fib lvl as a good support.

>>>Happened and Yet to <<<

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If 61.8% retrace holds then upmove should be till 10400, 10644. Above 10644 may fill the gap left above.

>>> CESC <<<

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>>> Apollo Tyre <<<

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>>> SYNDICATE BANK <<<

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Yes we are long from 78.5 onwards, Part profit booked for Rs.6000

>>> Performance <<<

5970 Support

Dear All,

Govt may not meet fiscal deficit target of 4.8%: UN Report:-

Ahead of interim Budget, a United Nations report on said the government is unlikely to meet fiscal deficit target of 4.8 per cent of the GDP in the current fiscal due to low growth and high subsidy.

"Given the weak growth momentum in the region and the difficulties in raising tax revenues and curbing expenditure growth, fiscal deficits will remain substantial in the near term," the report titled 'World Economic Situation and Prospects 2014' said.

"In India, the government is unlikely to meet its target of reducing the deficit to 4.8 per cent of GDP in the current fiscal year 2013-14 since growth is below projections and the depreciation of the rupee pushes up the subsidy bill," it said.
The government of India had budgeted to bring down fiscal deficit to 4.8 per cent of GDP in the current financial year, from 4.9 per cent in 2012-13. The interim Budget for 2014-15 is scheduled to be presented in Parliament on February 17.

>>> NIFTY <<<

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Nifty down again. If the count i have marked on chart is not wrong, i feel nifty may take support at 6000 or 5970 for wave b and to move up for wave c to complete 4th sub wave corrective upmove. If 5970 get breaks then fall may continue. Friday should give the answer. Lets See.

>>> Bank Nifty <<<

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Bank Nifty too halted at 61.8%, if unable to hold 10400 or 78.6% retrace then fall should continue.


>>> Apollo Tyre <<<

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First Target done with a Profit of 10,000. Broken all support shows more fall yet to come. Lets See