Weekly Review - 08.09.2014

Dear All,

Foreign portfolio flows into the Indian equity and debt markets, which have crossed Rs 1.8-lakh crore so far in 2014, are expected to receive support from the European Central Bank (ECB).

For one, the ECB has cut the rate at which banks can borrow from the central bank to 0.05 per cent. It is also set to commence its own stimulus package from October, although the quantum of the same is yet to be announced.

On the other hand, the US Federal Reserve is set to end its monthly bond-buying programme in October. The trimming of the programme began in December 2013; it has come down from $85 billion a month to $25 billion.

“The US Fed’s stimulus ends by October-end, but now there will be another round of stimulus from the ECB, which will be equally important. Due to this, the global liquidity is expected to continue. This would lead to foreign flows coming to Indian markets. This is because India continues to be considered an attractive investment destination for investors,” said N S Venkatesh, executive director and head of treasury at IDBI Bank.

“There is a probability that investors would prefer to invest the surplus liquidity likely to be generated post the commencement (of the ECB action) in emerging market economies as opposed to the Euro region. In such an event, FII (foreign institutional investor) inflows into India among other (emerging market economies) will see an upswing,” said a CARE Ratings report released on Friday.

“The flows will keep continuing, but may be more in equities because on the debt side, FIIs limits are getting filled up,” said Navneet Munot, chief investment officer at SBI Mutual Fund.

>>> Nifty - Daily Chart <<<

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

I hope the above chart tell you whats now and What's Next on Nifty. Yes - 8100-8106 Crosses on Nifty - then no doubt next target should be 8315. So its better to avoid short atleast, if you don't like to be on Long side. Lets see what the hourly chart also says in the short term.

>>> Nifty - Hourly Chart <<<

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

8060 and 8040 are the immediate support. But the trend line looks important - if able to cross then upmove for the 5th wave should start. Else it may test 8040 before the next upmove. Hope its clear on chart and words.

>>> Bank Nifty - Daily Chart - As Updated on 22nd Aug, 2014 <<<

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

Two week before - i have mentioned on bank nifty daily chart - how the channel looks important. See what happened this week.

>>> Bank Nifty - Happened and yet to <<<

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

Yes hit the channel top and fell down or Resisted. So Only can move up if able to cross the channel. So lets go to Hourly chart and see what next.

>>> Bank Nifty - Hourly Chart <<<

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

Looks like a triangle - But if able to cross 16050-60 on the upper channel - it may start moving up. Else may fall before the next upmove. Lets See

>>> Andhra Bank - As Posted on 01st Sep, 2014 <<<

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

Wrote to Buy Andhra Bank on 01st Sep, Still on hold. See what happened.

>>> Andhra Bank - Happened and Yet to <<<

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

If the channel support holds as shown on chart, good bounce possible. Those who have taken long can just average it with the support as stop loss.

>>> L&THF - As Posted Last Weekly Review <<<

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

Wrote last weekly review - L&THF had a good support. As expected price bounced till 68 and came down. Now as shown on chart if the support 66 doesn't breaks then high chances of moving up again. Those who are hodlding long can again average with the given support as stop loss.

>>> L&THF - Happened and Yet to <<<

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

L&THF to be added on Nifty from Sep 26th Onwards. And the Stocks had support @ 66, If holds then you all know what will happen. So its upto you. If you are already holding long - Average it.

>>> DLF <<<

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

DLF completed the 1-5 downside move and ready for upmove. we are long from 165, booked a part profit of Rs.20,000 @ 175. Advice to Buy on dips for a good rally in coming days.

NICKEL - Break Out - Buy

Dear All,

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

Break Out on Nickel Daily Chart. Just Buy Buy Buy and Enjoy. Cheers!!!

Gold Update - 04.09.2014

Dear All,

>>> Gold - As Posted on 03rd Sep, 2014 <<<

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

Wrote Yesterday to Buy Gold near 27466. Just see what happened today - Bounced and made a high of 27632. So what's Next ???

>>> Gold - Happened and Yet to <<<

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

Gold now trading near 27510. We recommend to buy for a Target of 27700. Good Bounce for almost 200 points on card. Near 27700 Just Sell everything or go short in big quantity for a free fall upto 27320 or near to it. Cheers!!!

Supported @ 8060. Next Resis 8100,8110 & 8124 must cross for Upmove

Dear All,


>>> NIFTY - As Posted Yesterday <<<

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

Above chart was posted Yesterday and mentioned that "its time for correction". See what happened today !

>>> NIFTY - Happened and Yet to <<<

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

As wrote Yesterday Nifty took support @ 8060. So now if able to cross immediate resistance of 8100,8110 and 8124 then may cross above 8143 for further rally. Else if again breaks 8060 then one more correction may set in on the downside to touch 8030 or 8020. Lets See.

>>> BANK NIFTY - As Posted Yesterday <<<

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

After hitting 16141- wrote its time for a correction and mentioned the support, See what happened today !

>>> BANK NIFTY - Happened and Yet to <<<

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

As wrote yesterday, bank nifty touched the third support @ 15950. Now if the small channel as shown on chart, able to break - then upmove to start, Else if breaks again 15950 then another correction to continue. Cheers!!!

Gold - Update - Sell on Rise - 03.09.2014

Dear All,

>>> Gold - As Updated Yesterday on 02th Sep, 2014 <<<

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

Wrote Yesterday - Below Support 27644 - Fall Likely. See what happened today ....

>>> Gold - Happened and Yet to <<<

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

Made a Low of 27638. Almost 276 Points Fall from 27644. Now it seems like a bounce again till 27644 or near is possible. Hence its again a selling opportunity near to 27644 for a fall till 27318 as shown on chart. Cheers!!!

Resisted @ 8143 - Its time for a PAUSE

Dear All,

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

As we wrote in our earlier post nifty almost touched and resisted near 6143. Now its seems like a correction may come in. If so, then here are the Support you must watch for - 8090, 8060 and 8040.

>>> BANK NIFTY <<<

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

Wrote earlier 16141 as resistance, though crossed it, can't hold. Supports on the downside as shown on chart.

>>> BIOCON <<<

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

Yes we have short on Biocon. If unable to cross the channel as shown on chart, then expect a free fall. Just Sell Sell Sell and Earn. Cheers!!!

Gold - 02.09.2014

Dear All,

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

Since an expanding triangle is broken Price have started falling down. As shown on chart if the First Support breaks and trades below that, Next two supports are the target. Since the Price is oversold, there can be a bounce also possible. Below 27644 there can be a fall upto 27480 and 27318 very soon. Lets See. Cheers!!!

Resistance @ 8114 & 8143

Dear All,

>>> NIFTY <<<

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

Wrote Yesterday 6054 as a Resistance - Which crossed today and tested 8101.85. Since the upmove is an extended wave, it looks like nifty may try to reach more resistance on the upper side. We hit a SL of 25 Points today. As per our message given on chart - Nifty crossed once 8090 and closed near to it. Next Resistance at 8114 and 8143.

>>> Bank Nifty <<<

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

16140 was the resistance given yesterday, crossed once and closed @ 16125. Now Next Resistance @ 16290 and 16500. Lets See.

Crude Oil - 01.09.2014

Dear All,

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

We are starting Commodities from today onwards. Our First Chart on Crude Oil - Suggest Buy. 5640 looks like a Double bottom and strong support. Buy with a Stop Loss of 5640. Cmp: 5810. Above 5950 Crude looks for more upmove. Lets See.

Next Resistance @ 8054

Dear All,

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

Key Resistance as said earlier on the day @ 8024 Crossed and 8054 next to watch. Upmove to continue if the resistance crosses.

>>> Bank Nifty <<<

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

Key Resistance 16140 and 16286 should be watched.

>>> UNITECH <<<

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

Unitech if able to cross above the given resistance - then a good short covering and fresh buying may come in. We are long in this stock.

>>> ANDHRA BANK <<<

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

+VE Div and followed by a break out today. Just Buy for a good rally. We are long in this stock also. Buy Buy Buy and enjoy the rally. Cheers!!!

Weekly Review - 01.09.2014

Dear All,

India's growth speeds up in after-glow of Modi's triumph

The Indian economy clocked 5.7% GDP growth in the quarter ended June 2014, government data released Thursday showed, up 1.1% from 4.6% in the quarter ended March 2014. GDP growth for the full financial year ended March 2014 was 4.7%

The GDP growth beat estimates. A Reuters poll of more than 40 economists had pegged economic growth in the June quarter at 5.3%.

"We are at the starting point of the pickup in the growth cycle in India," said Sonal Varma, an economist with Nomura. "This data gives us the first sign into that."

She expects the economy to expand 6 percent year-on-year in the fiscal year to March 2015, higher than 5.5 percent estimated by the Reserve Bank of India and faster than a near decade-low of 4.7 percent last year.

"We believe economy is definitely on a path of improvement," said Shubhada Rao, chief economist at Yes Bank in Mumbai. "For the full year, we could see a 60 to 80 basis points improvement from the last year."

Are We in Banking Scam or Crises ????

PSU banks were caught in bear grip on Thursday after report suggested that the Economic Offence Wing (EOW) Mumbai is probing role of public sector banks relating to the fixed deposit (FD) scam. CNX PSU Bank Index fell 1.2 percent.

Meanwhile, the sources on Tuesday said the finance ministry ordered forensic audit in case of non-performing assets (NPA) of UCO Bank and that forensic audit will find out irregularities in loan sanction.

While clarifying on the forensic audit by finance ministry, the bank said (in its filing to the exchange), "The forensic audit is being undertaken in the bank in respect of four old accounts which are all standard accounts in bank’s books. However, the material impact, if any, will be known after completion of forensic audit."

Meanwhile These individuals and middlemen in collusion with bank officials carried out fixed deposit scams at public sector banks including Dena Bank, UCO Bank, Bank of India, Vijaya Bank, Oriental Bank of Commerce, Central Bank of India, Punjab National Bank, State Bank of Bikaner and Jaipur and Dhanalakshmi Bank, according to the agency.

“Dhanalaxmi Bank has been defrauded of Rs.141.8 crore while Dena Bank of Rs.45.23 crore,” said the DCP of EOW.

The EOW was cooperating with the Central Bureau of Investigation in the case, as some of the accused were the same as those who perpetrated the Dena Bank and Oriental Bank of Commerce frauds, EOW officials said. Apart from those two banks, officials from Vijaya Bank, UCO Bank, Bank of India and Dhanlaxmi Bank were under scrutiny for alleged involvement, EOW said.

So far, EOW has arrested four people involved in the fraud and is in the process of arresting six others. The EOW has also arrested the alleged mastermind of the scam Mohammed Fashiuddin, promoter of the Showman Group. “We are also investigating the role of the bank officials involved in the fraud,” said Sinha.

According to a senior official at Central Bank of India, the bank is yet to receive any communication from the EOW. Similarly, an official at UCO Bank stated that no intimation had been received by the bank from the law enforcement agency.

“The EOW has not gotten in touch with the bank’s head office regarding any investigation yet, but it did verify some branch-level transactions,” said a senior official at Dhanlaxmi Bank.

CBI has also registered cases regarding fixed deposit frauds at some branches of Dena Bank and Oriental Bank of Commerce adding up to nearly Rs.400 crore. On 20 August, financial services secretary G.S. Sandhu had stated that the finance ministry is conducting forensic audits at Dena Bank and Oriental Bank of Commerce after details of the irregularities came to light. On the same day, Oriental Bank of Commerce said in a filing to the stock exchanges that it detected irregularities in transactions worth Rs.180 crore involving the Jawaharlal Nehru Port Trust (JNPT), which had filed a complaint with the CBI in February.

Dena Bank also issued a statement on 20 August on a similar fraud. The bank’s Malabar Hill branch in Mumbai received term deposits from various entities and government organizations between 30 January and 5 May. The term deposits amounting to Rs.256.69 crore were pledged to the bank by the same signatories to obtain overdraft facilities of Rs.223.25 crore.

On Thursday, the PSU Bank Index on NSE fell 1.79% while the benchmark NSE Nifty was up 0.23%. Shares in Dena Bank fell 2.99%, Vijaya Bank fell 0.77%, UCO Bank fell 1.5%, Oriental Bank of Commerce fell 2.58%, Syndicate Bank fell 2.53%. The investigation by the EOW and CBI comes on the heels of an alleged bribery scandal, earlier this month, involving Syndicate Bank and some companies.

So What Does Chart says about Banking Index..

>>> Bank Nifty - As Posted on Last Weekly Review <<<

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

Last Week wrote Bank Nifty facing a Resistance at 16000. See what happened.

>>> Bank Nifty - Happened and Yet to <<<

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

Yes, its a clear Message - Unless 16000 can't Cross - News and Chart suggest there may be some correction. So upto what level?? - Lets See in detail on Hourly Chart.

>>> Bank Nifty - Hourly Chart <<<

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

Bank Nifty Facing a Stiff Resistance @ 15794, If unable to cross may see correction as shown on chart. If able to cross above the given resistance then it should cross 16000 as said on daily chart given above.

>>> NIFTY Hourly - As Posted Last Weekly Review <<<

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

Last Week wrote that nifty moving towards the upper channel after a small expanding triangle correction. See what happened ..

>>> Nifty Hourly - Happened and Yet to <<<

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

Price should cross 7970 and RSI must give a Break out for further Upmove. Else Possible Correction may set in.

>>> Outlook for Bank Stocks - On FD Scam <<<

>>> UCO BANK <<<

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

>>> BANK INDIA <<<

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

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

>>> ORIENTBANK <<<

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

>>> PNB <<<

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

>>> ANDHRA BANK <<<

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

NOTE :- All the above Bank Stocks are not for trading purpose. Since these stocks are on Scam News - given purely for educational purpose Only. Have your own analysis or consult with your friends before taking any position. Stocks Pattern may possibly change along with the outcome of Scam News.

>>> L&TFH - As Posted on 27th Aug, 2014 <<<

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

Last Week wrote, that the stock may rise, But instead fell down. Lets see what's next ?!

>>> L&TFH - Happened and yet to <<<

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

Next support on the middle line of Pitchform, Lets wait and see.

>>>> INFY <<<<

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

INFY - Filled the Gap for Wave B and ready for fall. Just Sell and Earn

>>> PERFORMANCE - For the Month of Aug, 2014 <<<

Send email to niftyforall@yahoo.com for more details.

Happy Ganesh Chaturthi

7970 Resistance

Dear All,

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

As wrote Yesterday 7868 support holds and Opened a Gap Up today. Minor Break out on price as shown on chart. If RSI break out as given on chart - then good rally above 7970.

>>> L&THF <<<

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

Just Buy Buy Buy for Rally. Cheers!!!

Holding 7868

Dear All,

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

Not sure about the sub count at the end of the Price. Though 7868 holding @ 23.6% retrace, also price moving above 50hma shows some strength.

>>> JPPOWER <<<

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

All comments on Chart. Just Buy Buy Buy. Cheers!!!

Support @ 7880 & 7856

Dear All,

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

Earlier we have booked 60 Point profit, which we bot on last friday. Now nifty facing a stiff resistance @ 7970, Support @ 7880. If breaks then possible correction may test 7830 and 7780. Lets See.