Weekly Review - 22.04.2013

Dear All,

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Price closed above 50dsma looks positive. Should cross 61.8% or 5782 for reaching next level 78.6% or 5865. Channel Resistance should act as a major resistance.

>Nifty Published as on 15th April, 21013<

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Said Nifty should cross the channel for any upmove.

> Happened and Yet to <

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Nifty almost touched the channel to complete (iii) wave and may correct for (iv) wave down before a final upmove. Lets see

>>> BANK NIFTY - Published on Last Weekly Review <<<

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>>> Happened and Yet to <<<

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As wrote on Last Weekly Review about Falling Wedge Break out, Bank Nifty spiked to 12313. As BN crossed 61.8% seems like it can touch 78.6% which is near 12517. Lets See.

>>> SBIN - Published on Last Weekly Review <<<

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>>> Happened and Yet to <<

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SBIN on a-b-c-d-e formation, which (e) is on progress.

>>> IFCI - as on 15th April, 2013 <<<

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>>> Happened and Yet to <<<

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Ifci as said last week's review touched 29.5 and reached our target. Now need one more break out as given on chart for next target.

>>> Tata Motors - as on 15th April, 2013 <<<

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>>> Happened and Yet to <<<

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Tata Motor Crossed Resistance 281, should touch the upper side channel as shown on chart.

>>> TATA STEEL <<<

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Tata Steel need a Break out for Upmove from the Wedge. Lets Wait and see.

>>> ANDHRA BANK <<<

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Andhra Bank has given a Break out with Good Volume suggest a Healthy Upmove on Card. Lets get read for it.

>>>> PERFORMANCE <<<<

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Support at 5644 and 5627

Dear All,

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I have assumed the on going wave as (iii) and now extension in nature, seems like support should be around 5644 and 5627, if holds then possible bounce upto 5824 and 5872.

Also the pattern seems like a IHS, means Bears should be careful. Lets See.


>>> HINDALCO <<<

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Hindalco looks positive as the expanding channel gives support, RSI in +ve div too. Lets See what happens.

5720 Resistance

Dear All,

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Nifty gave a break out and passed 5620 Resistance with 120+ Points. Sudden fall in Gold / Silver and Crude Prices gave hope that the CAD (Current Account Deficit) may come down sharply where Gold and Crude was the Major portion of Import Bill.

If CAD eases, no doubt Equity market may regain strength. I hope RBI may also convinced enough to cut Rates as already Inflation also showed sign of Easing.

Friday I have posted Bank Nifty Chart and SBI - which gave break out - signaled us the same feeling that RBI may cut rates aggressively. Today's 120+ Points tells us that Bears have no more strength as Shorts are getting covered.

Nifty Resistance at 5720. Above 5720 - 5795 and 5870 should be Next. Lets See.

Mc-Dowell - Special Edition - as Follow Up

Dear All,

Updating Mc-Dowell specially for those who are in short. Today Stock breaks 1950 and made a high of 2022.8. Some Readers who are in short asked queries about the same. Here is the chart with Updated Stop Loss.

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2055 is the renewed Stop Loss and I feel stock should start falling from there for Wave C to break below 1700. Don't stay short above 2055. Lets see and All the Best too.

5590 & 5610 Resistance

Dear All,

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5590 and 5610 Resistance should be crossed for next upmove.

>> IFCI <<

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IFCI break out done, possible to touch the upper channel as shown on chart.

>> BATA INDIA <<

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Bata India - Break Out. Should cross the small channel for good Upmove Target. Lets See.

Weekly Review - 15.04.2013

Dear All,

>>> NIFTY <<<

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Last friday Nifty missed a Meaningful break out on chart above 5604-08. But even though Infy fell down madly due to lower than expected guidance, though Nifty still looks hopefully to come up as a relief rally.

>>> BANK NIFTY <<<

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Bank Nifty gave a Clear Break Out from its falling wedge, +ve Div on MACD give more hope for a good Upmove next Week.

>>> SBIN <<<

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SBI too moving like Bank Nifty - Break out from falling wedge with +ve div on MACD gives more hope.

>>> TATA MOTORS - Weekly <<<

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Tata Motors Weekly gave a Clear Support on Lower end of the Channel and managed to close above 50 Week MA showns some Revival.

>>> TATA MOTORS - Hourly <<<

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Tata Motors Hourly Suggest Resistance for the stock at 280, should be crossed for further upmove.

>>> RCOM <<<

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Above chart posted on 10th April on Face book, gave a possible IHS break out on chart.

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Rcom as per IHS zoomed up and even crossed Resistance 76, above 76 stock should touch 83. Lets See.

>>> Mc-Dowell <<<

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McDowell - We are following for Last week also, able to book some part profit, did not fell down as expected. Now the stock seems to be making a corrective upmove for sub wave (ii) and a Strong Resistance at 1950 which is 78.6% of previous fall. If crosses the upmove shall continue, else fall or even a big fall not ruled out. Lets See.

>> PERFORMANCE <<

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5608 Resis

Dear All,

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Updated during market hours on face book. Seems like a IHS Pattern, not yet broken out.

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5604-08 Resistance if crossed, then possible upmove as per given on chart. lets See.

>>> INFY <<<

Infy to announce it results tomorrow.

Analysts on average expect Infosys to report a net profit of Rs 2,297 crore, down 3 percent sequentially, while Rupee revenue is seen up 3 percent at Rs 10,730 crore, according to a CNBC-TV18 poll. In US Dollar terms, revenue is expected to rise 4 percent at USD 1,987 million in Q4.

CLSA Asia Pacific Markets in turn feels Infosys and rival Tata Consultancy Services hold potential for surprising positively on the revenue front. It expects Infosys to report a revenue of USD 1,990 million (up 4.1 percent), with USD 26 million incremental from Lodestone.

The company's margins are expected to decline 65 basis points in the quarter, on the back of wage hikes it gave to onsite employees and expenses related to the acquisition of Lodestone. The management has already guided for a 100bps margin decline, but the wage hikes and acquisition expenses will be partly offset by improvement in utilisations.

According to CNBC-TV18 poll, Infosys is likely to forecast US Dollar revenue growth of around 12 percent and earnings per share is likely to be in the Rs 173-176 range (up 6-8 percent).

>>> Hourly Chart <<<

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Infy Faces Resistance at 2955, if breaks Possible Upmove on Card. Lets See.

>>> Daily Chart <<<

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Infy moving up with -ve Div shows lack of Strength. Pattern looks similar to IHS, but lot of Gaps give an unclear picture. If support as marked at 2750 breaks then it may slide till 2590 in coming days, else if able to break the Upper Resistance line above 3009-14 then it may ignore the -ve div and can zoom to new high. Interesting days ahead. Lets See

Above 5530

Dear All,

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As usual High Volatile rocks the Market today also. But managed to give a Break out like situation as shown on chart. Managed to hold on the Middle line of Andrew's Pitchfork and stayed on the upper channel shows Bulls still had a chance.

Resistance 5570, 5594 and 5666.

>>> BHARTI AIRTEL <<<

Following Chart Updated on Face Book during market Hours - As we already had a Buy call on it.

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>Click the chart to see on full screen <

As per chart, need a strong break out above the channel. Lets See.

>>> TATA MOTORS <<< Follow Up

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Tata Motor - Chart Updated as on 03rd April, 2013

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Break Out as per Previous Update and Now moving towards Upper channel for Target.

>> RCOM <<

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Rcom - Updated during Market Hours on Face Book. Lets See

Broken Supp 5530. Next 5447

Dear All,

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Broken Support 5530 and it seems like should fill the gap left at 5447.

Support 5530 Still Holding !!!

Dear All,

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Still Holding 5530, Lets Wait and See.

>>> Bharti Airtel <<

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SC allows Bharti, Vodafone, Idea 3G pacts until April 11

In a major relief to Bharti Airtel, the Supreme Court Monday told the telecoms department to not take any 'coercive action' against the country's largest mobile phone company by revenues and subscribers, till April 11.

The apex court was hearing Bharti Airtel's plea of staying telecom department (DoT's) order to shut down 3G services within 24 hours in circles where the telco does not have its own frequencies to offer these services.

Last week, a panel of judges of the Delhi High Court quashed an earlier order of the court that had prevented the government from discontinuing Bharti Airtel's high-end services in seven regions Kolkata, Maharashtra, Gujarat, Haryana, Uttar Pradesh, Kerala and Madhya Pradesh and barred it from imposing a fee of Rs 350 crore. Bharti Airtel had appealed against the High Court move on Friday.

The Delhi HC was acting on a plea by Reliance Communications, which said that Bharti's move to provide pan-India 3G data services was negatively impacting its mobility business.

DoT has extended the crack down on 3G services last week when it asked the Indian arm of Vodafone and Idea Cellular to stop offering 3G services outside their licensed zones within three days, and slapped fines of Rs 550 crore and Rs 300 crore, respectively, on these companies.

The breather for Bharti Airtel bears positive news for Vodafone and Idea Cellular as well as the companies would be able to continue to offer their services till Thursday. The duo has appealed against the notices alongside Bharti Airtel in the Supreme Court, a person aware of the developments said.

Bharti Airtel, Vodafone and Idea won 3G airwaves in 13,nine and 11 circles, respectively, in the 2010 auctions, and between them have a national footprint. They subsequently entered into intra-circle roaming pacts with each other and rode on the airwaves of their partners in circles where they did not hold spectrum themselves. This enabled them to offer high-speed data services on a pan-India basis.

Bharti had about 7 million 3G customers as of December 2012, Vodafone has 2.5 million customers that use 3G while Idea has 4.1 million subscribers.

Weekly Review - 08.04.2013

Dear All,

Congress Vice-president Rahul Gandhi while addressing leaders of India Inc at an event in the national capital invoked the Bhagavad Gita, the sacred Hindu text, saying compassion was key to peace and development.

Gandhi was talking at the annual general meeting of the Confederation of Indian Industry (CII). Prime Minister Manmohan Singh had also addressed the corporate honchos on the first day of the meet on Wednesday.

"Our idea is so big that it can take along people outside India also... the idea is compassion... Mahatma Gandhi said it, Buddha said it and it is written in the Gita also," Gandhi said.

The 42-year-old said the solution to the complex problems in India and the various resultant conflicts lay in listening to the people who have no voice and having more inclusive policies.

Gandhi's maiden interaction with industry leaders after he became the Congress vice president left them "impressed".

"It was a very good interaction. It sets the tone for future interaction. He spoke very broadly about various issues," said S. Gopalakrishnan, president designate, CII.

In his speech, Gandhi called for inclusive growth and closer cooperation between industry and the government. However, he did not touch upon the major macro-economic problems like inflation, slowdown in growth and ballooning current account and fiscal deficits.

Gopalakrishnan said the interaction was up to the expectations of the industry leaders. "This was his first engagement with the business community and he met the industry's expectation."

CII president Adi Godrej said Gandhi's ideas were brilliant and they should inspire industry and the government to work in unison.

Bharti Airtel chairman Sunil Bharti Mittal said the speech was rare and inspirational. "It was an outstanding speech... He understood importance of technology and inclusion, which gives us hope as future leader," Mittal said.

Reacting to the speech, Bajaj Group chairman Rahul Bajaj said the industrialists were captivated by Gandhi's interaction

BJP described Rahul Gandhi's speech at a CII programme as that of a "confused leader" which reflected fear of the emergence of Gujarat chief minister Narendra Modi in national politics.

"Rahul's speech reflected that he lives in his own world. He was meant to answer what has happened in the nine years (of UPA rule) but there was no mention of corruption or inflation. Instead of answering questions, he was asking questions. It is a tacit admission that nothing has been done," BJP spokesperson Prakash Javadekar told reporters.

Modi is all set to address a Federation of Indian Chambers of Commerce and Industry (FICCI) gathering next week following the interactions of the prime minister and the Gandhi scion with the Confederation of Indian Industry (CII).


>> Weekly Nifty <<

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>> Daily Nifty <<

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Last Time Bullish Wolf Wave got worked as I expect to happen this time too.

>> Hourly Nifty <<

s

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Seems like Wave A = C get completed as 446 Point Correction.

>>> DLF <<<

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DLF which was resisted earlier at 258, now should get support near 230-32.

>>> Mc-Dowell <<

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McDowell after breaking Head and Shoulder continues to fall. Now 1740 is very Important, if breaks then fall should continue.

>>> PERFORMANCE <<

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5604 Broken - Bear Still with Us.

Dear All,

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*** All explanations on Chart ****

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*** All explanations on Chart ****

Resisted at 5744

Dear All,

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Nifty Resisted at 5744, todays spot high was at 5744.85 which is 38.2% retrace for previous fall. Nifty cracked 5720 in last 15 mins of trade and touched 5650. Tomorrow Support at 5660-62 and 5637-40 are the last hope for bulls.

If breaks 5605, previous low, then our present count gets negated and nifty should fall again. Lets See.

>>> TATAMOTORS <<

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Tata Motor looks like a Falling Wedge and Pipe Bottom on the end of Wedge signals a Possible Reversal. Break above the Wedge may trigger a Big Buy Off. Lets See how this works for a Bottom Fishing. Cheers!!!

Resistance 5744-58 and 5790

Dear All,

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As wrote Yesterday, Nifty managed to get through 5690 and touched 5750. Now 5720 act as a good support and 5754 should Resist. Cross above 5754 may see 5790. Lets See.

>>> MC-DOWELL - FOLLOW UP <<

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The above Image Posted in Blog on 23rd March, 2013.

Also today Posed the following message on Face Book page.

United Spirits-If 100% of Promoter Equity Is Pledged Can There Be A Take-Over?
-Why should bankers release pledge if the borrower is a defaulter
-If beneficial ownership is not with the Promoter, how can he Sell Equity and invoke a Take-Over
-Why should Bankers agree to Sell at Rs 1440 when the CMP is Rs 1850?
-If Bankers Sell All The stock in the open market, how does the promoter execute his part of the take-over deal?


Diageo and Mallya agreed on a deal in November last year under which Diageo agreed to buy majority stake in USL. Mr Mallya owns about 27% in USL but most of it is pledged with the banks including SBI. Banks have lent close to Rs 7500 crore and decided to take every measure to recover their dues in January. "We have sold a part of shares of USL and we have received notice from UB Holding retrains banks from selling shares.--

But SBI decided to go ahead with selling remain of the shares. We are very confident that the court will rule in our favour," said a senior official from State Bank of India who declined to be quoted. Justice SJ Kathawala will hear the case on April 2.

The move comes within weeks of the finance minister asking the banks to act against rich promoters of ailing companies.

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Mc Dowell broken the Head and Shoulder and Resistance at 1880. If Resistance not taken out, possible fall in coming days. Lets See

Supp 5690 & Resis 5740-44

Dear All,

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Channel Break out on Chart, as closed above 5690 Support. Should Break above 5740-44 for a reasonable upmove in coming days. Lets See.

>>> JPASSOCIATES <<<

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Jp Associates look like forming a H&S. But Pattern becomes Invalid if Price moves above 70. Above 70 Stock may target 80 soon. Lets See.

Weekly Review - 01.04.2013

Dear All,
>>> NIFTY WEEKLY <<<

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Weekly chart with Bollinger Band Suggest, Price took support at the bottom of the Bollinger Band with a Hanging man on Chart. 20Week Moving average suggest 5860 as Resistance. Looks Like Bulls managed to Save Nifty.

>>NIFTY DAILY<<

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Daily Chart - Falling Wedge Break Out, 78.6% retrace of Wave A shows 5620 as strong Support, finally 200dma saved.

>>NIFTY HOURLY<<

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Hourly Chart - I strongly Feel its a Bullish Wolf Wave. Nothing Else...

>>>PERFORMANCE<<

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