It was a real nightmare on market last week. Almost every Stock and Index moved into Profit - suddenly returned and hit Stop Loss. It all happened every after a good Break out Price and Indicators, shows the strength of Bear also.
Our Stocks like Bata India - ACC - Tata Motors - BataIndia - almost made a Profit of Rs.5000 and above and returned to hit Stop loss due to heavy volatile.
After a RBI's Rate Cut - which was below market expectation - Market turned down, Next week will be decided as per the progress in Monsoon.
Monday market may open on Positive zone - due to positive IIP data and CPI data. FED Meeting next week decide the course also. Progress in crude Prices - Saudi market Opened for Global investors - China Progress may decide the trend. Weakness in forex may impact the equity market heavily.
Lets go to technicals.
>>> Nifty Weekly Chart - Posted on Last Weekly Review <<<
>>> Click the chart to see on full screen <<<
Last Weekly Review - wrote - How far 8000 and 7960 important. See what happened.
>>> Nifty Weekly Chart - Happened <<<
>>> Click the chart to see on full screen <<<
Nifty tested both 8000 and 7960. Now the base 7960 looks very important. Since the price holding below 50 WMA, Below 7960 may test 7723 at any cost.
>>> Nifty Daily - Happened <<<
>>> Click the chart to see on full screen <<<
We have exited our Long with a Loss of 100 Points. Lets see whats next on 5 Mins chart.
>>> Nifty 5 Mins Chart <<<
>>> Click the chart to see on full screen <<<
7950 - Key Support if holds, then expect a bounce as shown on chart. If this analysis is not wrong, an expanding triangle formation on card. Hence if the channel resistance or Expanding triangle resist the price, a fall may resume again towards the given target as shown on chart.
>>> Bank Nifty Weekly Chart <<<
>>> Click the chart to see on full screen <<<
Hope the above weekly chart for Bank Nifty is very simple to understand. If the First channel or 50 WMA breaks, expect a fall towards second Support line or 100 Week Moving Average.
>>> Bank Nifty Hourly Chart <<<
>>> Click the chart to see on full screen <<<
Not sure about the above count. Price may be forming an Expanding triangle for Wave X. On the other side if the two support 17175 and 16800 breaks, Price may continue to fall towards the lower side. One can refer the weekly chart for the downside target.
>>> ACC - Posted on 06th June, 2015 <<<
>>> Click the chart to see on full screen <<<
05th June, We have update our ACC position - As we hold long. See what happened
>>> ACC - Happened <<<
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ACC Hit SL @ 1420. We have no Position right now. Above chart shows that - a Possible Bullish Wolf Wave formation. If this is not wrong, Expect some bounce from here.
>>> TATAMOTORS - Posted on 10th June, 2015 <<<
>>> Click the chart to see on full screen <<<
Mentioned that the Price may take support @ 430-32 as the price retraced as W-X-Y. See what happened.
>>> TATAMOTORS - Happened <<<
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A Profit of Rs.5000 returned to Loss, SL hit and Exited Long. Next Support at 390.
>>> TECHM - Posted on 10th June, 2015 <<<
>>> Click the chart to see on full screen <<<
Wrote to Buy Tech Mahendra for a good Upmove. See what happened.
>>> TECHM - Happened <<<
>>> Click the chart to see on full screen <<<
We Booked Profit 5000 and Exited.
>>> BATAINDIA - As posted on 03rd June, 2015 <<<
>>> Click the chart to see on full screen <<<
Bata India entered Long at 1010 - Which moved till 1045 which was our first Target. We Carried for the second target - which failed and hit the Stop loss. Due to heavy volatile - we missed our profit of Rs.7500 and met a loss of Rs.8750.
>>> TCS <<<
>>> Click the chart to see on full screen <<<
Booked Rs.5000 and Exited @ 2580.
>>> Performance - as on 12th June, 2015 <<<
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