Thursday, June 30, 2016

End or New Trend ???

Dear All,

>>> Nifty Hourly Chart <<<

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

Price moving for the last wave - Resisted today @ 61.8% or near 8308.

>>> WOCKPHARMA - Hourly Chart <<<

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

WockPharma - Both Price and RSI on a Break out mode. We are long and holding for a good upmove. Cheers!!!

Wednesday, June 29, 2016

Next Watch out for 8220-30

Dear All,

>>> Nifty Hourly Chart <<<

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

Next Resistance to watch out for 8220-30.

Tuesday, June 28, 2016

Resistance @ 8150-54

Dear All,

>>> Nifty Hourly Chart <<<

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

Hope price trying to fill the gap, may find its resistance @ 8150. Keep watching.

>>> ACC - Hourly Chart <<<

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

Looks like a end of 1-5 Rally on the stock. If So, Expect some correction soon. We are short and waiting for a good correction. Cheers!!!



Monday, June 27, 2016

Resistance @ 8110 & 8150

Dear All,

>>> Nifty Hourly Chart <<<

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

Its a corrective upmove which may face resistance @ 8110 & 8150.

>>> ORIENT BANK <<<

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

We are long from 102.50 and price hit a high of 107.25. Price may move higher above 108. Cheers!!!

Sunday, June 26, 2016

Weekly Review - 27th June, 2016

Dear All,


Britain's surprise vote to exit the European Union (EU) sent shockwaves across markets and created uncertainty for the global economy. A 52:48 per cent referendum verdict in favour of leaving the EU bloc roiled global financial markets and wiped out billions of dollars of investor wealth.

The European markets went in freefall mode, with benchmark indices in the UK, France, Germany, Spain and Italy plunging between five and 10 per cent. Major stocks in the European markets posted their biggest-ever single-day declines and the indices in the US markets plunged in initial trade. The pound fell as much as 10 per cent, against the dollar, to levels last seen in 1985. The euro dropped around four per cent against the dollar.

Analysts believe the market will continue to remain turbulent as they see the next few months as an uncertain time for the Europe both politically and economically. "We think the crystallisation of a major tail risk for markets is likely to herald a period of volatility as investors digest the full implications of Brexit," said a note by Bank of America Merrill Lynch.

WHO SAID WHAT...
As investors look around the world for safe havens in these turbulent times, India stands out, both in terms of stability and growth
Arun Jaitley, Finance minister

The volatility will hit us. But as markets and investors wake up, they will judge where it makes sense to invest. We should see a calm re-emerging
Raghuram Rajan, Governor, RBI

As trade strategies are reworked, there could be potential advantages in terms of better market access for India to EU and UK
Arundhati Bhattacharya, Chairman, SBI

I think we are overreacting to Britain's exit from the EU. For us, it's business as usual and I do not see any reason for India to worry
A M Naik, Chairman, L&T

Data from 2010 indicate when the broader indices have taken a cut of two per cent or more on a single day, it has had cascading effect on FII flows. FIIs have typically sold Indian equities during such periods. For instance, last year, when devaluation of the Chinese currency took the S&P BSE Sensex all the way from over 27,000 to retest 25,000 between August and September. FIIs sold Rs 21,000 crore of shares in the Indian markets during this period, including Rs 5,000 crore in a single session (August 24).

With the benchmark Sensex plunging 1,000 points intra-day on Friday’s session, provisional data indicate foreign investors have again started exiting (they sold Rs 629 crore of shares on Friday). “There could be some repositioning of weights among emerging markets (EMs) and investors might redeem their funds. So, we could expect FPI sell-off to continue”, says U R Bhat, managing director, Dalton Capital Advisors.

Dhananjay Sinha, head of institutional research at Emkay Global Financial Services, adds that until the impact of global events settles, foreign investors will not be in a rush to return here. “Compared to the foreign currency or bond market, equities reacted more sharply to Brexit, as the event was not priced into equities,” he points out.

The Indian markets, in the short term, cannot be said to be immune to a rising global risk aversion. There are likely to be many moving parts in the global equation in the short term, too. In case of a major risk off possible coordinated central bank action would likely be taken to calm the markets. All this couldmean volatility.

What does it all mean for the markets? It should also be noted that after a 16 per cent rally from the February-bottom, valuations are no longer a major defence against downside. While a recovery in earnings is likely to help lift equity prices in the medium term, the fact that valuations are not cheap means that investors can afford to wait and see the markets stabilise. If indeed, the markets were to go into a deeper correction, investors should be ready to take advantage of such an opportunity. India’s improving economy would mean that markets would float back up over time.

>>> Nifty Weekly Chart <<<

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

RSI and candle singing a bearish tone. Price failed to close above the key resistance 61.8% - Shows a caution sign.

>>> Nifty Daily Chart <<<

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

Price made a double top and RSI on break down. If Price able to crack below 50 DMA - More correction likely.

>>> Nifty Hourly Chart <<<

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

Above chart - assumed as a 5th wave truncation. If not wrong - more fall likely.

>>> Bank Nifty Weekly Chart <<<

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

Its a doji on weekly chart. Price made a double top. Just like Nifty - Bank Nifty also had a RSI break down - shows more correction likely.

>>> Bank Nifty Daily Chart <<<

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

50 DMA - Key support, price may continue to fall below 50DMA.

>>> Bank Nifty Hourly Chart <<<

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

16960 should hold for recovery.

>>> Maruti - Posted on 16th June, 2016 <<<

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

Posted on 16th June and before, Maruti for correction.

>>> Maruti - Profit Booked Rs.20,000/- <<<

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

Profit Booked Rs.20,000/-

>>> CanBk - Profit Booked <<<

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

Can Bank Profit Booked with Rs.15000/-

>>> Performance till 24th June, 2016 <<<

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

For queries about our service - email us @ niftyforall@yahoo.com or whatsapp @ 9677924975.

Wednesday, June 22, 2016

BREXIT Vs NIFTY

Dear All,

>>> Nifty Hourly Chart <<<

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

Wait for BREXIT

Tuesday, June 21, 2016

Resistance 8245 & 8270

Dear All,

>>> Nifty Hourly Chart <<<

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

Hourly Chart suggest 8245 as a important resistance. Break below 8213 or 8206 may invite some pressure from bear side. RSI must confirm the trend.

>>> Bank Nifty Hourly Chart <<<

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

RSI confirmed the correction mode, Price yet to break and confirm the triangle - Channel. Cheers!!!

Monday, June 20, 2016

Resistance @ 8245 & 8265-70

Dear All,

>>> Nifty Hourly Chart <<<

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

its a complicated once again. Inspite of Rexit - Market able to hold and move up along with global cues. Price must cross above 8245 and 8265-70 for a good upmove. Lets wait and see. Cheers!!!

Saturday, June 18, 2016

Weekly Review - 20th June, 2016

Dear All,

>>> REXIT <<<


India's "rock star" RBI Governor Raghuram Rajan, feted by foreign investors but under pressure from political opponents at home, stunned government officials and colleagues on Saturday by announcing he would step down after just one three-year term.

Rajan, a former chief economist at the International Monetary Fund, is held in high esteem by policymakers and investors at home and abroad for overhauling the way the Reserve Bank of India (RBI) operates.

But he has faced mounting criticism from a faction within Prime Minister Narendra Modi's ruling party for keeping interest rates high and over a perception that he had begun to stray into politics.

In a letter to RBI staff, Rajan said he planned to return to academia, even as he noted two of his actions - the creation of a monetary policy committee to set interest rates and the clean-up of the heavily indebted banking sector - remained unfinished.

"While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on Sept. 4, 2016," Rajan wrote.

"I will, of course, always be available to serve my country when needed."

It will be the first time since 1992 that an RBI governor has departed after a single three-year term.


That the larger Sangh Parivar was unhappy with Reserve Bank of India (RBI) Governor Raghuram Rajan for his views on issues such as “intolerance” was no secret. The die was cast when Subramanian Swamy, a Rajya Sabha member from the Bharatiya Janata Party (BJP), wasn’t reined in when he went as far as calling Rajan’s policies “anti-national in intent”. There were also severe difference of opinion between Rajan and those in the government, including in the Finance Ministry bureaucracy, on the RBI’s monetary policy, particularly on the issue of the central bank’s refusal to lower interest rates.

People in the government and industry had complained about Rajan’s obstinacy in not reducing interest rates, especially when the oil import bill was low and other macro-economic indicators were suitable. Those in the government and industry were looking at the RBI to reduce interest rates to spur growth in real estate and the MSME sector. A spurt in these two sectors, or so it was argued, would have contributed to job growth – one of the principal planks of Prime Minister Narendra Modi’s 2014 Lok Sabha campaign.

But the equity market may only see collateral damage. The biggest hit, experts believe, will be on the currency market, which is already bracing for some major risks in the coming months.

"If Rajan is not continuing, the biggest risk will be to the Indian bond and currency Markets," Christopher Wood said in the Fear and Greed report back in May.

The biggest issue would be the redemption of the Foreign Currency Non-Residential (FCNR) bonds issued by Governor Rajan back in October 2013 to protect the rupee from its worst crisis in decades.

Those bonds are due for redemption and the currency market is due to face an outflow of $20 billion, which will put intense pressure on the rupee.

However, according to one source privy to the Rashtriya Swayamsevak Sangh (RSS), the BJP’s ideological parent, and also the government’s views on economic issues, the departure of Rajan from the RBI is an end to “outside interference” in policy making. The RSS might exult at Rajan's exit as its triumph but the source said Rajan’s views on intolerance were only the last straw. The source likened his exit to one of the first decisions of the Narendra Modi government – that of kicking out 350 consultants who during the UPA years advised the government on various issues of planning and policy making. Another source went as far as to say that Rajan demoralised government owned banks and destroyed the economy, and his departure was a signal to crony capitalists supported by the previous UPA government.

In his first comments after the development, Finance Minister Arun Jaitley said the government respected Rajan’s decision and a successor will be appointed soon. State Bank of India chief Arundhati Bhattacharya is being looked at as a possible candidate.

There are seven candidates on a long list to replace Reserve Bank of India Governor Raghuram Rajan, a senior government official told Reuters on Saturday.

The candidates are Vijay Kelkar, Rakesh Mohan, Ashok Lahiri, Urjit Patel, Arundhati Bhattacharya, Subir Gokarn and Ashok Chawla, the official said, speaking on condition of anonymity due to the sensitivity of the matter.

Of the field, the two best known are Patel, now a deputy governor of the RBI, and Bhattacharya, who is chair of State Bank of India, the country's largest bank

>>> Nifty Daily Chart <<<

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

Resisted near 8206 or 61.8% retrace shows a possible downside for wave c.

>>> Nifty Hourly Chart <<<

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

MA & 61.8% retrace indicates a possible correction.

>>> Bank Nifty Hourly Chart <<<

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

Bank Nifty should break again the channel support for a fall.

>>> Maruti - Posted Earlier last Week <<<

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

Earlier we have posted maruti - wrote about a possible correction.

>>> Maruti - Yet to Correct <<<

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

Below 4060-62 - More fall likely. We are short from 4150.

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

Kindly send your queries about service to niftyforall@yahoo.com.

Thursday, June 16, 2016

Resistance @ 8160,8180 & 8206

Dear All,

>>> Nifty Hourly Chart <<<

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

Its a complicated and volatile move on nifty, as yesterday its a 100 Plus move and today a gap down with 100 minus move shows the strength of the volatile. Seems like price moving as abc-x-abc. and we are in the last leg of abc. If so, price may get resisted near 8160,8180 or 8206.

>>> Bank Nifty Hourly Chart <<<

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

17700 & 17745 - Resistance.

>>> Maruti - As Posted on 14th June, 2016 <<<

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

Have wrote on Monday - about possible upmove on maruti - See what happened.

>>> Maruti - Happened <<<

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

As wrote on monday - Price raised above 4168 and started coming down today, Stock may correct more if - Price breaks below 4062. We are holding our short from 4150. Yen Movement - highly affect the stock movement. Lets wait and see. Cheers!!!

Wednesday, June 15, 2016

Resistance @ 8206 & 8264

Dear All,

>>> Nifty Hourly Chart <<<

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

Price negated some alternatives above 8180 and hit 8206. We have Exited our Shorts created at 8235. Some indicator have reversed and price may continue to raise, if Price trades above 8206, may test 8264.

>>> Bank Nifty Hourly Chart <<<

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

Like Nifty - Nifty Bank Also made a sudden rally above 17730 & 17760 - which may find its resistance @ 17940. If trades above 17940 - More rally not ruled out.

>>> AXIS BANK - Posted on 13th June, 2016 <<<

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

Wrote on Monday - Axis Bank may correct.

>>> AXIS BANK - Profit Booked <<<

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

Have booked our Shorts on Axis Bank - with 10,000 Profit, since the Price not moving as expected. We may re-enter or ignore - as per price movement in coming days.

Tuesday, June 14, 2016

Resistance @ 8135 & 8156

Dear All,

>>> Nifty Hourly Chart <<<

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

Price may try to retrace as a relief rally - If crosses 8135, can test 8156.

>>> Bank Nifty Hourly Chart <<<

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

Bank Nifty May Face its resistance @ 17750.

>>> Maruti - Hourly - As Posted on Weekly Review <<<

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

Posted on Weekly Review - Maruti - With a Bearish View - See the follow up..

>>> Maruti - Follow Up - Hourly Chart <<<

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

Maruti making a complicated move, with a heavy volatile trade. Support 4100 and 4080 - s'd break for more fall. Else Price may retrace 4150 and 4168. Lets wait and See. Cheers!!!

Monday, June 13, 2016

Next Resistance @ 8128, 8142 & 8168

Dear All,

>>> Nifty Hourly Chart <<<

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

After making a low of 8064, Price managed to recover form day's low. If price able to cross above 8128, then may test 8148 and 8168, before resuming next fall. We are still holding our short.

>>> Axis Bank - Hourly Chart <<<

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

Axis Bank - Price made a rally as A-B-C and Wave C retraced almost 161.8% of Wave A. A wedge like pattern, Broken down - Shows a correction unavoidable. We have short position and holding for a good fall. CheerS!!!

Saturday, June 11, 2016

Weekly Review - 13th June, 2016

Dear All,


Investors are likely to remain cautious ahead of key macro economic data and the outcome of the US Federal Reserve meet. Meanwhile, worries that Britain, in a referendum on June 23, may vote not to be a part of the European Union would continue to weigh on sentiment.

The Reserve Bank of India at its bi-monthly policy review early this week kept key policy rates unchanged amid inflation concerns but maintained an 'accomodative' monetary policy stance going forward. The repo or the repurchase rate was unchanged at 6.50% on the back of higher food inflation and amid expectations of a rate action by the US Federal Reserve. The central bank has also kept the Cash Reserve Ratio (CRR) unchanged at 4%.

Meanwhile, Index of Industrial Production (IIP) for April was weaker-than-expected after it contracted to -0.8% as compared to 0.1% in March 2016 with manufacturing sector contracting to -3.1% compared to -1.2% in the previous month.

Outlook

Apart from the global events such as the US Fed meet, macro economic data such as the wholesale price index and consumer price index for May 2016 along with the progress of the monsoon will dictate market trend.

Investors will also be keenly awaiting the commentary from the US Fed at the conclusion of its two-day policy meet which ends on Wednesday, June 15.

Further, announcements by the Indian Meteorological Department regarding the progress of monsson will also be in focus.



>>> Nifty Weekly Chart <<<

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

An Inverted Hammer formed near the Key Resistance Zone - Should really be a cause to concern for Bulls. One should take care of their longs. A flow of bad news from any side may trigger fresh sell off from all front. Above 8290 Bulls may try to roar again.

>>> Nifty Daily Chart <<<

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

Price unable to cross above the Channel and Hold above 8268 - Signals Bearishness. We have short Position and looking for a Good Correction.

>>> Nifty Hourly Chart <<<

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

Hourly chart suggest - end of wave 3 or C. Hence a possible correction till 8075 or near 8006. We have short position from 8235 and holding for a good correction.

>>> Bank Nifty Hourly Chart <<<

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

Looks like bank Nifty end its rally near 18050 and started falling. Below 17800 may test 17650 or even 17410 soon.

>>> Maruti - Hourly Chart <<<

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

Maruti - We are short from 4150 and holding for a good correction. Price if breaks the trend line or 4100 - More fall likely.

>>> N4A <<<


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