Saturday, February 15, 2014

Weekly Review - 17.02.2014

Dear All,

>>> Nifty - Weekly <<<

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

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 <<<<

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

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

>>> Happened and Yet to <<<

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

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 <<<

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

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

>>> Happened and Yet to <<<

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

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 <<<

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

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 <<<