Saturday, July 23, 2016

Weekly Review - 25th July 2016

Dear All,


>>> Nifty Weekly Chart <<<

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8630 continue to resist on weekly chart.

>>> Nifty Daily Chart <<<

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No Clear direction on daily chart for the past 7 trading session. RSI must cross above the trend line.

>>> Nifty 5 Mins chart <<<

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A Lot have been seen and discussed on hourly chart - as there is no change in it, as the price moving inside a small range. Hence we have posted the 5 mins chart to find out the direction. It looks like the price have completed 1-5 and a clear picture to emerge only above 8580 or 8630. Support should be 8480.

>>> Bank Nifty Daily Chart <<<

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Price looks like - completed ABC rally near 19150. RSI showing a sign of break down, should break the larger trend line to confirm more fall.

>>> Bank Nifty Hourly Chart <<<

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On Hourly Frame, if the RSI breaks above the trend line, may test the upper band with price too.

>>> WOCKPHARMA - Booked Rs.44400 Profit <<<

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It was a good Profit on WockPharma - Achieved second target on intraday itself with Rs.44,400.

>>> SBIN - Posted on 18th July, 2016 <<<

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Last monday - Posted on SBI - that a Possible correction on card. We have short position also. See what happened.

>>> SBIN - More Fall Likely <<<

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Holding Short for more such correction.

>>> HINDALCO - Posted on 21st July 2016 <<<

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Wrote on 21st July - We have short position on Hindalco - Holding for a correction. See what happened.

>>> HINDALCO - Booked Profit - Fall may continue <<<

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Yes the Price almost tested our first target 130. As per above chart - a Possible bounce till the trend line shown. Lets see.

>>> DRREDDY - Daily Chart <<<

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Price reached as ABC, If unable to cross above - Expect correction next week.

>>> Performance till 22nd July, 2016.

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