Saturday, December 13, 2014

Weekly Review - 15.12.2014

Dear All,

Indian indices - worst performing due to global factors.

IIP down and CPI at the lowest on record. INR looks more volatile due to global markets on the back of fall on crude oil prices.

Trade Data for November to be due on next week.

U.S Fed's Two day meeting from Tuesday.

>>> Nifty - Weekly Chart <<<

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

RSI - looks like a break down. Price yet to give a confirmation on weekly chart.

>>> Nifty - Daily Chart <<<

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

On Daily Chart - 8175 or 50% retrace may support to bulls. Break below may see a fall upto 8068 or 61.8% retrace.

>>> Nifty - Hourly Chart <<<

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

Time wise correction towards 23.6% or 50% retrace approaching. RSI on a clear Positive Divergence, If breaks above may trigger a fast short covering. Looks like a buy on dips strategy is nearing. Lets wait for it.

>>> Bank Nifty - Daily Chart <<<

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

Friday released IIP saw the sharpest contraction in three years of 4.2% in October, though retail inflation dipped to 4.3%, putting pressure on RBI to cut rate to boost growth. Factory output as measured by Index of Industrial Production (IIP) declined due to contraction in manufacturing, capital goods and consumer items.

The market and a handful of economists have been asking for a stimulus in the form of a rate cut ever since consumer price inflation (CPI) started softening earlier this year. Many believe RBI is already too late in acting on lowering the benchmark rates, as they believe by targeting inflation alone, Rajan is ignoring growth.

So Interesting Week ahead for Bank Nifty - As many eyebrows are now raising - will RBI cut Rate or Ignore as usual.

>>> BankNifty - Hourly Chart <<<

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

17990 - Support. Lets wait and see.

>>> Chart Performance - Next Week <<<

>>> Ashok Leyland <<<

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

Second time we are making a big profit. Next Support @ 45.

>>> BIOCON <<<

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

Touched a low of 447 almost near the first target.

>>> ALBK <<<

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

Albk - If 124 breaks - fall should continue.

>>> ICICI Bank <<<

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

ICICI bank - Clearly broken the 3 month old trend line - should fall more.

>>> Loss of the Week <<<

I wish to share some of the Stop Loss hit this week - And also lets us see where these stocks are moving next.

>>> Tata Steel <<<

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

Our Long call on Tata Steel hit SL @ 433 with a loss of Rs.3000. After the break of 433 price continue to slide and it seems like can touch the next support @ 342 or another 60 points from here.

>>> Reliance Infra <<<

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

Reliance Infra hit for two times and with a Part profit also. Important support 540 taken away on friday - But still the stock with lot of Positive divergence - shows its still a buy on dips. Lets See.

>>> Performance till 12th Dec, 2014 <<<

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

For details - send email to niftyforall@yahoo.com

>>> COMMODITY - Updates <<<

>>> Gold - As Posted on 09th Dec, 2014 <<<

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

Wrote on 09th Dec, 2014 Morning to Buy Gold above 26570. See what happened.

>>> Gold - Happened <<<

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

Hit 27330 after our Buy call. Great Profit made.

>>> Gold - What's Next <<<

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

If unable to cross and hold above 27410 - Sell on Every Rise for a good fall. Looks like the relief rally is over.

>>> Copper <<<

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

A Cat on a Wall. Wait for a Break out or a fall. Cheers!!!