Weekly Review 18.05.2015

Dear All,

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>>> Nifty Weekly Chart <<<

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This entire week was full of volatile and ofcourse price managed to hold above 50wma and gave a green colored doji also. Looks like bulls are holding with strong foot till last week and looking for a recovery soon.

>>> Nifty Daily Chart <<<

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Daily Chart gave us a confused signal as shown on above chart. Hence we need some confirmation for either side movement.

>>> Nifty Hourly Chart <<<

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Looks like a bottom formation, after completing a Bullish Wolf Wave on Hourly chart. But, still we need confirmations like IHS Break out, MA's cross over etc., Lets wait for it.

>>> Bank Nifty Weekly Chart <<<

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50 Week Moving Average on Hold. Hanging Man shows a possible break out from the falling wedge any time.

>>> Bank Nifty Daily Chart <<<

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Price above 18110. Next Resistance 18645.

>>> ADANIENT <<<

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We shorted at 705 again. Price made a Low of 670 with almost a Profit of Rs. 17500 only.

>>> ORIENTBANK <<<

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We are long since 194 and we made some partial profit @ 204 with a Profit of Rs.20K. Next Target near 230.

>>> ASIANPAINT <<<

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We are short from 800. Waiting for a good fall from here.

>>> Performance till 15th May, 2015 <<<

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