Is this a Break Out ???

Dear All,

Nifty though broken 5838 and went down to comply with a-b-c-d-e for 4th sub wave. Todays chart seems like a Break out as the last fall looks like a truncated one.

Resistance at 5910 and 5930. Support 5840, 5823 and 5805.

>>Rpower<<< as given on 05th Dec,2012

Rpower given on 5th Dec as a Break out. Stock did not performed till now and hovering around 100-101 range.

Reliance Power was down nearly 2 percent intraday on Tuesday as its promoters are going to sell 5.42 percent stake in the company via offer for sale (OFS) route on December 19.

The company said its promoters Reliance Infrastructure Limited, Reliance Innoventures Private Limited and AAA Project Ventures Private Limited will sell 15,20,51,807 equity shares aggregating to approximately 5.42 percent of the paid up equity share capital of Reliance Power Limited through a sale on the separate window provided by the BSE.

The sale shall commence on December 19, 2012 at 12 p.m. and shall close on the same day at 3 p.m, according to release sent to exchange.

Floor price shall not be publicly disclosed by sellers. Axis Capital is sole broker to the stake sale.

Lets wait and See!!!

Weekly Review 17.12.2012

Dear All,

If you are in Stock Market then You Must LOVE - Mr. P. Chidambaram - Finance Minister.

Yes, its a 100% True. When he took over as FM after Mr. Pranabji Left his Seat, Mr. PC was very busy in addressing the following issues,

1) Investor confidence
2) Inflation
3) Widening fiscal deficit
4) Yawning current account deficit.

To gain the confidence of foreign investors, Chidambaram has to find ways to arrest and reverse the powerful negative trend in India's growth which has ended up in a yawning gap in the nation's fiscal balance and high inflation, left behind by his predecessor and the new Indian President Pranab Mukherjee. Perhaps this was also the main reason behind the decision of the UPA leadership to project Pranab Mukherjee as the presidential candidate

Every market men knows that Mr. PC is a real doctor who can cure all the above diseases.

So far the Most argued or most criticized FDI in Retail Bill was Passed in Parliament is a big Success for Mr. PC.

So whats Next ...

Banking Bill:- seems to have reached an agreement with opposition, may be passed in both house next week, this may bring more foreign investment in to the baking industry as a whole.

GAAR:- The government is working on the recommendations of Parthasarathy Shome Committee, which had suggested modification in laws dealing with General Anti-Avoidance Rules (GAAR) and retrospective tax law amendments.

Chidambaram said that in the last five months, government has taken several measures to bring the economy back to high growth path through fiscal consolidation, addressing inflation concerns, external sector vulnerabilities and increasing investor confidence.

Last weekly Review gave as below, 5940 act as a Resistance ...

>>> Nifty - Daily <<< As Anticipated ...

>Click the Chart to see on full screen<

Happened So Far ...

>Click the Chart to see on full screen<

So Nifty unable to Cross 5940 and not broken 5815 on the down side and made a side way movement.

>>>Nifty - Hourly <<< As Anticipated ...

>Click the Chart to see on full screen<

As Mentioned last week still there are possibilities of 2 alternatives as mentioned on green and Yellow counts. So whats next..

As Happened so far ...

>Click the Chart to see on full screen<

As wrote last week and also followed by many post, 5838 not broken so far means..

i) Upmove wave 5th may be going on as I have marked with white colored (i) and (ii)

ii) Else a-b-c-d-e consolidation may happen as the current move inside a channel marked in Yellow colored and possible to touch the lower channel of expanding triangle.


>>>SBIN<<<

>Click the Chart to see on full screen<

Bullish Pole Flag Break Out - But as I wrote Last Weekly Review its safe to Buy above 2340 Refer

http://niftyforall.blogspot.in/2012/12/weekly-review-10122012.html

>>>PERFORMANCE<<<

Cheers!!!

Is this a Bear Mode ???

Dear All,

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

5865 gone. Now Last hope on 5838-40, if broken then a short term bear trend may emerge.

Alternative :-

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

Alternative Count for Nifty - Suggest a Fall upto 5805-5800 as Sub wave 4 forming a a-b-c-d-e - expanding triangle.

>> Apollo Tyre <<

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

Apollo Tyre:- If breaks the Trend Line as given, get ready for a Free fall.

5865 Holding. Cat on a Wall.

Dear All,

>click the chart to see on full screen<

No Major change in Nifty as 5865 Holding on Support and 5930 did not cross. Its a lackluster trade after a good IIP Data.

Political chaos on Banking Bill, Inflation worries and fear of Rate Cut from RBI worries Traders and FII's. S&P warned about possibility of downgrading, Wallmart Bribe for Passing Bill on FDI in retail - making the Political and economic situation more dimm.

Lets wait for more clarity !!!


Today Lets see an Important Bill Passed today on Parliament !

The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011

>click the image to see on full screen<

Some Important Point are :-

1) Indian Banks NPAs had risen to around 3.5%, it was not too high for an emerging economy like India, due to this Bill Recovery shall be faster than before to improve the Financial situation of Banks - Especially PSU Banks.

2) The Debt Recovery Act does not apply to loans of less than Rs 10 lakh, means a common Individual, Farmers or small traders. Aiming particularly on big corparates like KFA

This means lot to cheers for Bank whose NPS's kept rising in recent Years.

>> Bank Nifty <<

>click the chart to see on full screen<

In spite of Bank Regulation Bill on Parliament - Nifty on important support 12300-340 as its look like a H&S.

Instead EW suggest a pending 5th wave upmove. Lets see.

Key 5865 to Decide the Trend !!!

Dear All

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

Ofcourse 5880 Broken the earlier support and managed to close above the support.

Now 5865 seems to be the Key support. Refer the Chart for details

Counts marked with Yellow colored (i) and (ii) suggest the 5th wave upmove as 5865 should not be broken tomorrow.

If 5865 broken then may fall down for completes a-b-c-d-e as marked on Green Colored. Support 5840,5815 and 5775 may be tested.

Resistance 5945,5965 and 5990. Lets See!!! Cheers!!!

5880 - Support to Decide !!!

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

Yes, 5880 Support to decide the Next Move. If not broken we shall see immediate upmove, else should touch 5860 and 5815 levels.

Weekly Review - 10.12.2012

Dear All,

>>>Weekly - Nifty <<<

>Click the chart to see on full screen<

Weekly Chart of Nifty Shows the Resistance as Previous high 5944.

If able to cross the Resistance then it should touch the Upper Channel as shown on Chart - Possibly 6030 Next Week.

On 28th November,2012 wrote in the Blog as "Crouching Bull Hidden Bear" See the Below link for details
http://niftyforall.blogspot.in/2012/11/crouching-bull-hidden-bear.html
as 600 Point Rally as it was a Bullish Flag Pattern as below

>Click the chart to see on full screen<

So far we had almost 223 Points Rally from 5727 to 5950. So whats Next ???

>>>Daily Nifty <<<

>Click the chart to see on full screen<

Nifty - Daily Chart suggest 5940 as Resistance and 5815 as a Support for Next Week. Cross above 5940 may give another 90 Points Rally till 6030.

>>> Hourly - Nifty <<<

>Click the chart to see on full screen<

Above given is a Hourly Nifty Chart. I have given two Possibilities as below

>>> Nifty may test 5815 if the 4th sub wave shall be divided as a-b-c-d-e.

>>> Nifty may continue as 5th sub wave if the support 5880 or 5860 holds.

Lets see.


>>>Bank Nifty <<<

Written on 29th Nov, in "Its a Warning to Bear" about Bank Nifty, Else click the Below Linke to see it http://niftyforall.blogspot.in/2012/11/its-warning-to-bear.html as chart given below

>Click the chart to see on full screen<

As Mentioned Triangle break should give a 1000 Point Rally, means almost after break out has ran up 500 points so far. So whats next.

>Click the chart to see on full screen<

Now Bank Nifty facing resistance near 12470-80 and 12800. Support at 11475.

>>> BANK STOCKS <<<

It should be agreed that Bank Stocks played major role in this rally like SBI, ICICI and Axis Bank. Lets see how its going to be on next week.

As Govt had successfully passed the FDI in Retail both in Lokh sabha and Rajya Sabha, Govt now keen to pass the Insurance and Pension bill in Parliament.

Also there is a huge expectation that RBI may slash the Interest rate in coming week, which may increase the Positive sentiment in the market.

So above all are very important for market as well as the Bank Sector in Particular. So lets see some major Blue chip Bank stocks this week


>>>SBIN<<<

>Click the chart to see on full screen<

State Bank Of India - Weekly Chart shows a triangle Pattern. 2340 act as a Stiff Resistance. Break above shall give a Big Bull Rally. Fail to break the Resistance Line may test 1950 approx.

>>> ICICI BANK <<<

>Click the chart to see on full screen<

Again the Weekly Chart of ICICI Bank shows the Price was resisted on a 78.6% Golden Ratio. 1140-45 act as a Stiff Resistance.


>>>AXIS BANK <<<

>Click the chart to see on full screen<

Axis Weekly Chart shows a Resistance as Previous High 1367, cross above may test the golden ratio 78.6% or 1432.

Lets See!!! Cheers!!!

Bottoming Tail !!!

Dear All,

>Click the chart to see on full screen<

Yet another Bullish day, Nifty closed above the channel and candle stick suggest a Bottoming Tail as shown on chart.

Sellers tried to pull down the index failed and later closed above the opening suggest Bulls are still energetic and run more in days to come.

Earlier in my blog I have suggested that since this is a Extension wave many short sellers may get trapped, like it happened today.

Lets see..

FDI Vs NIFTY !!!!

Dear All,

>>>NIFTY<<<

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

Nifty crossed 5890 Resistance and trying to move above the expanding Channel shows that the Upmove may continue.

On Going debate on Parliament on FDI Retail should really Impact the Nifty Movement tomorrow.

Resistance 5938,5990 Should be watched. Support 5855-50.

>>RPOWER<<

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

Rpower forming a Bullish Pole Flag Pattern, Break out confirm above the channel line as given on chart. Support at 96 and 92.

>>>IFCI<<<

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

IFCI - Stock testing the Neck line for the Second time, If unable to Cross, a big fall not ruled out.

EW suggest Caution ahead. Lets See.!!! Cheers!!!

Bears Vs Bulls ???

Dear All,

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

Nifty Chart looks like an Expanding Triangle, break above the upper channel may favour bulls.

Resis 5890 and 5930-40.

Negative Divergence on chart suggest a Possible fall for 4th sub wave fall.

Political Chaos in Parliament may give a volatile sessions in coming days.

Relax Mr. Bull.

Dear All,

>click the chart to see on full screen<

Yes its a Pause for Bull. Unable to hold 5890 shows that Bulls may Pause the Upmove for a while. 5816 and 5765 Support can be tested soon.

Else can move up if breaks above 5890 again to test 5943 Resistance.

Weekly Review - 03.12.2012

Dear All.

>>> NIFTY <<<

Nifty on Break out Spree, Moving on 5th wave as said last week. Now 5940-45 should Resist before next upmove. Cross above 5940-45 may test 6035-40 next week.


>>> BANK NIFTY <<<

Bank Nifty as said last week - broke the Triangle Pattern and now moving for the 5th wave.

Resistance 12175-80, 12500 and 12825.


>>>PERFORMANCE<<<

Performance for the month ended Nov 30th as given above. Those who are Interested can contact on 9677924975 or krish_venkatesh@yahoo.com

Its a Warning to Bear.

Dear All,

>>> NIFTY <<<

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

Nifty Confirmed the Start of 5th Wave broken all previous highs and Bulls have warned the Bears for next upmove.

Ongoing 5th wave seems to be extension waves, and it shows that not easy for bears to break the uptrend as I feel many traders may get trapped in Shorts.

As I wrote on Yesterdays Post "Crouching Bull Hidden Bear" about the possible 600 Point rally, Please refer the Yesterday's Post for more details.

Let enjoy the upmove..

>>> BANK NIFTY <<<

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

Seems like a Triangle Break out on Bank Nifty - 1000 Point rally ahead from 11700 give a Target of 12700 soon.

Crouching Bull Hidden Bear

Dear All,

>Click the chart to see on full screen<

Pattern seems like a Bullish Flag, and a Break above the channel as shown on chart shall confirm the break out.

Once Break out done may give a 600 Points Rally from 5740 which is exactly the height of the Pole.

Since Price able to move and close above 20dsma and 50dsma on Friday signaled a Positive move in coming days too.

Lets see!!! Cheers!!!

Nifty on IHS ???

Dear All,

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

Looks like an Inverted Head and Shoulder on given above 5 mins Chart. If breaks the below channel line, fall may continue, else Up move should continue.

Lets See!!! Cheers!!!

Weekly Review:- 26.11.2012

Dear All,

>>>NIFTY<<<

>Click the chart to see on full screen<

5593 took Support on Friday, Shows that an upmove still pending. Possible upmove shall be as shown on chart, Resistance 5652, 5668 and 5688.

Support remains as 5588 and below this trend may change bearish.

Resistance remains as 5688 or 5693 and above this trend may change bullish.

>>>SBIN<<<

Last week SBIN was given as below ..

>Click the chart to see on full screen<

What happened as follows :-

>Click the chart to see on full screen<

As per Last week Call, State Bank of India Touched 2057 low and bounced to touch then neck line break down 2114 as shown on Chart. The pattern remains intact as far as Price moves above the trend line with volume. Else should touch our target 1975 to 1950 as mentioned last week. Those who have taken position as per our previous week update shall hold it for the target.

>>>PANTALOON<<<

Last week Pantaloon given as below

>Click the chart to see on full screen<

What Happened as follows :-

>Click the chart to see on full screen<

As said previous week, Pantaloon touched a low of 175 last week from 186 and bounced back to touch the neck line break down to 192 and again resumed its fall.

Parliamentary move about FDI Policy has made the stock volatile, but still the Target 165-166 remains intact in coming week.

>>>>UNITECH<<<<

Now CAT on the WALL

Dear All,

>>NIFTY<<

>Click the Chart to see on Full screen<

Yes, it seems like a Cat on the Wall again. Though second resistance 5636 also reached today, unable to cross and hold doubts the benefit to Bear.

Tomorrow if unable to cross again 5636 and if breaks below 5603 support can invite sell off.

If crosses 5636 with volume can move to 5663 on the upper side.

>>BANK NIFTY<<

>Click the Chart to see on Full screen<

Again Bank Nifty's Several attempt to cross 11542 did not succeed today, if unable to cross may invite sell off with more volatile.

Above 11542 may move to 11620.

Still to Move ?

Dear All,

>>>NIFTY<<<

>Click the Chart to see on Full Screen<

Just Remember my Monday Post, Mentioned three Resistance needed to be Crossed. 5603, 5636 and 5663. Today crosses first Resistance 5603, Yet to cross 5636 and 5663.

Lot of Global Confusions and domestic Political Chaos - lead to Heavy Volatile and Tension inside Market.

But Chart and Levels never changes. As per EW if we are on 4th wave Corrective Upmove Nifty should Retrace atleast 50% or 5663 before next fall.

>>>BANK NIFTY<<<

>Click the Chart to see on Full Screen<

Bank Nifty too had a Break out On Chart. Lets see.

>>>APOLLO TYRES<<<

>Click the Chart to see on Full Screen<

Apollo Tyre - Seems like a Break Out. Have completed Wave 3 and should move up for a Corrective 4th wave. Short Term Target should be around 85 and 87.

Cheers!!!