Monday, March 31, 2014

Where is the End ????

Dear All,

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

No comments....!!! as chart speaks every thing. Lets wait.

Sunday, March 30, 2014

Weekly Review - 31.03.2014

Dear All,

Well Market Rallied so Far On Expectations of a Narendra Modi-led Government may win majority has fuelled a bull run in the equity market and surge in the rupee against the US dollar. Now many analyst feel that the next move is not the poll outcome but global cues that will drive the equity market in India.

Markets could rise by up to 10 per cent from its current 6,600-odd level if a BJP-led alliance forms the government and could fall equally precipitously if that does not happen.


At the same time the local currency touched a seven-month high of 60.60 against the dollar earlier this month after data showed a sharp drop in the CAD for the third quarter of FY14 ($4.2 billion, or 0.9 per cent of GDP). A stable rupee has helped improve India's external profile and consequently exports, especially in IT, pharmaceutical, chemicals and textiles.


A majority of opinion polls have shown the possibility of a stable government at the Centre, raising the prospect of market-friendly reforms from the new government. The latter will have to work in close co-ordination with the Reserve Bank of India (RBI) to gradually steer India's economy to a high growth path. Decisive policy measures by the new government can go a long way in giving RBI the much-needed room to cut interest rates and maintain price stability as inflation is showing signs of cooling. Until such time, the RBI is unlikely to make any major alteration to its current monetary stance, whereby it is clearly focusing on taming inflation.


At the same time Finance Minister P Chidambaram rejected media analysis that the “hope” of a stable Government after elections is bringing in investments and driving up the capital market and the value of Rupee. He maintained it is not “hope” but the “fact” of a stable Government provided by UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the Indian economy.

>>> Nifty - Weekly <<<

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

Break out from the channel, But the Trend line resistance should be watched before next move.

>>> Nifty - Daily <<<

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

Same as said on weekly chart, Trend line must be watched carefully. As per EW wave 3 is ON. Though we need to check the hourly chart EW count for next move, as trend line gives us warning.

>>> Nifty - Hourly <<<

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

Nifty hourly suggest that the Price in the last leg of 1-5 upmove. Hence the 5th leg faces resistance @ 6700 or 6716. So a possible correction for Wave 2 may set in any time. Since highly over bot zone may trigger some correction shall be used for accumulation also. Lets See.

>>> Bank Nifty - Daily <<<

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

Daily Bank Nifty Chart faces resistance from the Trend line.

>>> Indian Cement <<<

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

A Sudden move on India Cement nearly 10% was a surprise. Chart shows a good Break out. Lot of news flow from IPL front should be watched. If all negative news are priced in, hope for a good upmove.

>>> Havells <<<

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

Havells Bull run starts from 2009 onwards, seems like ended its 5th wave now. 924 and 940 very crucial level. If unable to cross may confirm the end of bull run.

>>> Performance <<<

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

Thursday, March 27, 2014

6656 Resistance !!!

Dear All,

>>> Nifty <<<

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

So it seems like we are nearing to end the rally. 6656 crossed today and failed to hold. Next Resistance 6678 and 6700. A small wedge - if breaks then first sign of weakness. Lets See.

>>> SBIN <<<

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

SBI - Star of the day - Rallied nearly 5%. So whats next ???. If unable to cross the upper channel - then may fall. Lets see!!!

Wednesday, March 26, 2014

6620 - Hurdle for Bull - Expiry Day.

Dear All,

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

Seems like a Head and Shoulder - But not sure - if breaks the trend line then aggressive selling may start. Stay Caution. Lets also see the counts below.

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

6620 if unable to cross may confirm the end of Wave B. If trades above may lead to 5th wave to continue with Resistance mentioned on chart. Expiry day going to be interesting day.

Tuesday, March 25, 2014

Another Choppy Trade

Dear All,

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

Channel resisted for the second day in a row, Now 6620 should act as a resistance. Unable to cross may show first weakness.


>>> Asian Paint <<<

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

If unable to cross resistance as mentioned on chart - may shows weakness. Lets See.

Monday, March 24, 2014

Resistance 6590 & 6620

Dear All,

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

Expanding Triangle or Irregular Flat on Chart. So if unable to cross 6590 or 6620 may see a sharp fall. Else may continue to climb.

Sunday, March 23, 2014

Weekly Review :- 24.03.2014

Dear All,

Markets are choppy last week and unable to move further. So what else left for next week as its going to be an expiry week also.

Technically RSI in over bot zone may give some correction before next upmove.

What are the other factors to consider for bulls to continue its journey.

1) Fed started talking about rate hike next Year in early Jan may not be a threat for now, though it must be watched cautiously how other countries move to protect their currencies. So expect some hawkish movement in all world currencies soon.

2) RBI still not satisfied with Inflation it seems, may not be interested in a rate cut.

3) Some more bad news coming about PSU banks still not good for Bank Index.

4) Improved economic data across the board is unlikely to prompt RBI to ease rates at its April 1 policy meeting, as core inflation remains sticky and prices could flare due to recent weather disruptions.

So lets see INR Chart also how its going to be move next...

>>> INR/USD Weekly Chart <<<

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

Above is a Weekly Chart of INR/USD - and I feel like 60 is going to be an important support on weekly basis, if unable to break may resume the fall on INR once again, which is definitely going to impact our equity market again.

>>> Nifty - Weekly Chart <<<

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

In our last Weekly Review mentioned on our weekly chart - that a Doji candle visible. This week followed by a red candle below the channel shows some thing bulls are missing to push above the channel line.

Nothing more visible on Daily Chart - So lets pass onto Hourly Chart.

>>> Nifty - Hourly - As updated on Last weekly Review <<<

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

Last Week wrote we are long on Nifty.

>>> Happened and Yet to <<<

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

We booked our long with 140 points. Next week if Price breaks the trend line and able to trade below the supports like 6487 and 6463 then stay cautious with your longs.

>>> Best of Last Week <<<

>>> Voltas <<<

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

>>> Crompton Greaves <<<

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

>>> Bata India <<<

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

>>> Hindustan UniLever <<<

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

>>> Worst of the Week <<<

>>> Tata Comm <<<

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

>>> Performance <<<

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

Friday, March 21, 2014

Directionless - 6163 Support to Decide.

Dear All,

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

Choppy move today, unable to move above the minor wedge - seems like a directionless trade today. 6463 looks important as off now. Lets See.

>>> Hindustan Lever - As Updated Yesterday <<<

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

>>> Happened <<<

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

Hit Target 580 with a Profit of 9000.

Thursday, March 20, 2014

Support @ 6463 !!!

Dear All,

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

6463 if not broken then rally may once again resume. Else fall to continue.

>>> Crompton - As Updated on 18th March 2014 <<<

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

Wrote about crompton - if breaks the green support line - fall to start.

>>> Happened <<<

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

Yes we booked earlier with a profit of 12000 and exited. Since the support line broken, expect more fall.

>>> Bata India <<<

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

We had a Part Booking with Rs. 5000. So expect more fall to come.

>>> Tata Comm <<<

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

SL hit @ 288 and exited with a loss of 14000.

>>> Hindustan Unilever <<<

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

We are long since 562. If trades above 580 then 600+ soon. Lets See. Cheers!!!

Wednesday, March 19, 2014

Surprise !!!

Dear All,

The Fed's Open Market Committee concludes its two-day policy meeting Wednesday afternoon. It's Janet Yellen's first meeting in charge of the Fed and investors are looking forward to hearing from her after the meeting. The Fed is widely expected to continue trimming its asset purchase program by another $10 billion, to $55 billion a month. The stimulus program was created to support the U.S. economy and has also been a key driver behind the equity bull market.

Investors and traders will also listen closely for any possible Fed plans to revamp its strategy on interest rate guidance.
The central bank has said it will only raise interest rates once unemployment falls to around 6.5%, or inflation rises as high as 2.5%. It's possible Yellen may abandon these numerical targets to focus on qualitative information instead.

Mean while Global ratings agency Standard & Poor's today said an increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

"More companies are improving their high financial leverage and boosting their credit profiles by adopting measures such as sale of equity and assets or using their free operating cash flows to reduce debt," S&P said in a report.

So Technically Nifty also meant to open doors for many possibilities. Lets See.

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

Tuesday, March 18, 2014

6500-6510 Support.

Dear All,

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

We booked our Longs with 140 Pts Profit. Buy given @ 6430-6440. Now today's fall looks like 5th wave truncation. Need more confirmation to trade below the channel. Lets wait and see.

>>> Voltas - As Udpated last weekly Review <<<

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


>>> Happened <<<

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

Yes we advised to hold for 2nd Target 146. Big Profit of 38000 Done.

>>> Crompton Greaves <<<

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

Yes we Hold Short on Crompton. Expecting more fall if breaks the support line. Lets See!!!

Sunday, March 16, 2014

Weekly Review :- 17.03.2014

Dear All,


>>> Weekly Chart - As Updated Last Weekly Review <<<

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

Last week wrote about the break out on Weekly Chart.

>>> Happened and yet to <<<

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

Doji candle on weekly chart. Indecision. So lets see on daily and hourly for clear trend.

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

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

Last week mentioned about IHS break out on daily chart.

>>> Happened and Yet to <<<

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

So the price re-tested the trend line. Hope it will continue to upmove.


>>> Nifty - Hourly Chart <<<

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

Hourly Chart shows a clearly picture for an uptrend. Last week ended sub wave 4 and started moving up for sw 5.

We covered our earlier shorts with nearly 100 points profit and long since 6430-40. Good upmove should continue if able to cross the channel. Lets see.

>>> Bank Nifty - hourly - As updated Last weekly review <<<

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

Last week wrote about Key resistance on Bank Nifty.

>>> Happened and yet to <<<

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

may be the end of sub wave (iv), if so then get ready for new high next week. Else break below the last week low may trigger some more correction.

>>> Flops of Last Week <<<

>>> Tata Steel <<<

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

>>> Rcom <<<
>>> click the chart to see on full screen <<<

>>> Hit of Last Week <<<

>>> BIOCON <<<

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

>>> Asian Paints <<<

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

>>> Voltas <<<

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