Monday, January 04, 2016

Broken 7850. Watch Next Support @ 7740.

Dear All,

>>> Nifty Daily Chart <<<

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

Daily Price - Unable to reach 100 DMA, Resisted @ 7965 and started falling as expected.

>>> Nifty Hourly Chart - As Posted on Weekly Review <<<

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

Posted on Weekly Review - Hourly chart - on a Raising Wedge pattern. See what happened.

>>> Nifty Hourly Chart <<<

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

As expected Price broken down the wedge and started falling, We are short in nifty from 7900, Holding.

>>> Bank Nifty Daily Chart <<<

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

Price unable to cross 50 DMA and failed to cross 17090 shows the weakness. We have advised our clients to take position below 16730 and holding. If 16190 breaks, more fall likely.

>>> VOLTAS - Holding Short <<<

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

Last month our position on voltas hit sl and made a loss. We have re-entered agian near 321 and holding still for a good fall. Lot Size is 1600. Cheers!!!