After 6080, Next Resistance 6120

Dear All,

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Nifty touched 6080, Next Resistance 6120. Todays Upmove clearly shows Bulls have a strong Uphold on Market, Seems like Bears are tiered on their attempt in hitting the market. Lets Look at the Daily Chart also..

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Daily Chart shows today high is much important for Bulls and Bears. If Price trades above 6080-83 tomorrow, then Next 6270 should be the Logical Target. So Bull ride to continue with -ve Div. Lets See.

>>> RANBAXY <<<

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Ranbaxy was on my Radar on last weekly Review. Today it gave a clear break down, Minor support also there as shown on chart. Bad Result should hammer the stock tomorrow. Lets See

Resistance 6050 & 6080

Dear all,

Unlike Yesterdays Post I had a Small Modification in the Last Leg of Wave Count as the 5th Leg got extended a Bit. I have used 5 min chart for showing the markings clearly.

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I have marked in Red Color with 1-5 as the last leg got extended, almost retraced 78.6% of wave (iii) and I feel 6050 or 6080 (100% of wave (iii) shall be the Maximum to complete the current rally.

If this counts are correct, then We must see the Fall from tomorrow onwards. Lets see

Resistance 5983-87

Dear All,

>Click the chart to see on full screen<

Nifty Broken down from the channel gave a clear Break down signal, But a choppy + volatile market inside a channel with abc move today shows a corrective upmove for sub wave (ii). Resistance 5983-87 and 6000. Lets See.

Weekly Review :-

Dear All,

RBI on Friday cut the key policy rate by 25 basis points for the third time since January and kept the cash reserve ratio (CRR) unchanged, although this was on expected line, Market hear it on a Bearish tone when RBI Governor said “The balance of risks stemming from our assessment of the growth-inflation dynamic yields little space for further monetary easing.”
RBI has projected the Indian economy to grow at 5.7%, which is lower than even some private forecasts.

>>> Nifty - Updated last Weekly Review <<<

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>>> Nifty - Daily <<<

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Yes its Harami Again. Last Week Harami failed, but this time formed on the neck line and brought Nifty down below 5971 shows some importance.

>>> Nifty - 30 Mins <<<

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For clear visibility of counts, I have selected 30 mins chart here. As i have assumed earlier the ongoing rally as Wave (X), it might have completed at 6018.85. Hence I have started numbering it as 1 and 2. I too had a sell call on Nifty which was successful on friday, posted on face book also as a free call.

Sent on May 03, 2013 12:25:52 PM ****N4A-NIFTY-ALERT**** SELL NIFTY (SPOT LVL) BETWEEN 5995-6000. SL ABOVE 6020. TARGET 5950 AND 5920 http://niftyforall.blogspot.in

Sent on May 03, 2013 01:21:16 PM ****N4A-NIFTY-UPDATE**** NIFTY DONE FIRST TARGET NEAR 5950. SELL GIVEN AT 5995. PROFIT 50X45=2250/- http://niftyforall.blogspot.in

Now if Nifty breaks the Channel as shown on chart then the fall must continue or even it may turn negative in coming days. Probably the flow of results from major companies may turn Nifty volatile with Negative bias too. Lets wait and See.

>>> SRTRANSFIN - Given on Last Weekly Review <<<

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>>> SRTRANSFIN - Happened <<<

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Target Achieved. Profit Booked.

Sent on Apr 29, 2013 09:35:07 AM ****N4A-STOCK-ALERT**** Buy SRTRANSFIN above 724.50. SL below 703. Target 742 and 770 (all spot lvl) http://niftyforall.blogspot.in

Sent on Apr 30, 2013 03:26:07 PM ****N4A-STOCK-UPDATE***** SRTRANSFIN DONE FIRST TARGET 742. BUY GIVEN AT 724.50. NEXT 770 TARGET http://niftyforall.blogspot.in

Sent on May 03, 2013 10:36:06 AM ****N4A-STOCK-UPDATE**** SRTRANSFIN DONE 2ND TARGET 770. BUY GIVEN AT 724.50. PROFIT 500X45.5=22750/- ENJOY. http://niftyforall.blogspot.in

>>> DLF <<<

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DLF Showing a Pure Bear Trend. I was continuously Bearish on this Stock. Company Struggling to tackle its debt by Fresh issue of Shares, Issue of Bonds to reduce its debt of Rs.21k Crores approx. shows that its not in a financial Strength.
Next week if breaks below the Green Arrow as shown on chart, Heavy Fall not ruled out. All My clients are holding short in this counter.

>>> YES BANK <<<

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Yes Bank - Given above is a 5 Mins chart. A Head and Shoulder on top of the Chart gives important for it and shows that the Neck Line broken once. Next week there is one more support line, if broken then clear fall not ruled out.

>>> Tata Motors <<<

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Tata Motor Resisted at the 78.6% of Wave B and a Resistance Line as shown on chart. If breaks below the channel as mentioned on chart, then fall to continue. Lets See.

>>> PERFORMANCE <<<

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Bull Trap or Bear Trap - Answer with RBI

Dear All,

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Nifty Rallied above 5971. Clearly Saying I did not expect this. I assume that the Ongoing must be..

1) Wave (X) or (B), but since there are lot of Extensions, its hard to Mark.

2) Wave (4) might have ended at 5477, Ongoing must a 5th Wave Upmove. In that case Rally may continue above 6111.8, may be till 6150 and 6300.

Clearly the Ball in the Court of RBI. If it downplays then it may spoil sport the Rally, Else Lot of cheers waiting on the Street. Lets See

Sell in May and Go Away?

Dear All,

As we all Know ...

The period between May and October has historically been a seasonally weak one for equity markets worldwide, giving rise to the phrase “sell in May and go away”.

Even in the case of Indian markets, the adage has held in as many as nine of the last 15 years with six month returns during May-October lagging the returns in other half of the year.

The month of May, too, has been bad with the Sensex falling nine out of 15 times. Indeed, during the last three years, the markets have fallen more than 3.3% during the month.

The performance in May would be a function of 2-3 factors. Though the earnings that come in the latter part of May are not usually good, the recent fall in crude, if it continues, would keep sentiment buoyant. The upcoming RBI policy meet may provide further cheer if the RBI does more than cut policy rates by 25 basis points (bps) as is being factored by market participants. The prediction of normal monsoon this year also augurs well for the markets

So We are going to have an Interesting May month ahead.

>>> NIFTY <<<

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I guess Nifty may form a IHS if Wave A gets completes at 5945 (high 5959) and may fall down for Wave B. Below 5791 Pattern gets invalid.

>>>> NIFTY - 15 MIN <<<

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Last few days becoming more volatile on either side, giving lot of way and pattern to decide the next move. As I feel final leg of 5th going on. If the last part is an expanding triangle then 5971 shall be the Resistance. Else if 5945 again resist shall give way for a fall.

>>>> JPASSOCIATES - As updated on 25th April,2013 <<<<

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Sent on Apr 25, 2013 01:42:47 PM ****N4A-STOCK-ALERT**** Sell JPAssociates Below 77.90. SL above 80.50. Target 76 & 73.50 (all spot lvl)

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Jp Associates almost made a Low of 73.45 on Tuesday.

(4/30/2013 11:20:54 AM): Jp Associates :- Breaking Supp 76.30. Resis 77.9-78. Target 74,72 and 69. Sell given already at 77.90 and Part Booked at 76.

Low made 73.45

>>> SRTRANSFIN <<<<

>click the chart to see on full screen<

Sent on Apr 29, 2013 09:35:07 AM ****N4A-STOCK-ALERT**** Buy SRTRANSFIN above 724.50. SL below 703. Target 742 and 770 (all spot lvl)

Sent on Apr 30, 2013 03:26:07 PM ****N4A-STOCK-UPDATE***** SRTRANSFIN DONE FIRST TARGET 742. BUY GIVEN AT 724.50. NEXT 770 TARGET.

>>> RANBAXY <<<

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Ranbaxy getting ready for a good fall.

Another Volatile Session

Dear All,

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Though no major change in Pattern wise or Ew Count, had a volatile session due to outcome of results. Better than expected HUL Results help nifty to gain 40+ Points. Bank Nifty + SBI looks week though RBI meet on May 03, expectation had 50 Bps Cut.

RSI and MACD still on -ve Div maintian alarm for weakness. Lets See.

Weekly Review - 29.04.2013

Dear All,

Last week Rally was as Predicated by us. If you where a regular reader of this blog, sure your might have come across our bullish view too. Market expects RBI may cut Rates aggressively as Inflation hit 3 Year Low. But the Biggest reason behind in fall in Gold and Crude Oil Prices which may lower Import bill and may give a Lower CAD. So Lets come to Technicals as usual.

>> Nifty Daily <<

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Have marked current rally as Wave (X). Also Bearish Harami Candle Stick signal an Early Warning for a Possible Fall in Next Week. Caution Advised.

>>> Nifty - Hourly <<<

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On Hourly Price given a Break down from the Andrew's Pitchfork.

>>> Nifty - 15 Mins Chart <<<

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Above chart suggest the last and final support from a Trend Line. Lets See will it give support next week.

>>> DLF <<<

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Stock on Break down as shown on chart. May continue to slide if not able to hold support 235.

>>> PERFORMANCE <<<

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Rally May give a PAUSE ????

Dear All,

Market Rallied ahead of Expiry and hope of Rate Cut by RBI in the upcoming Policy meet. My Earlier Update on IHS failed. Now Lets see whats next...

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Nifty Completed Wave A. Caution advised as Wave B may get start any time. Lets also see a bit close on 15 mins chart as where shall be the Bear Entry Possible.

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Nifty Support 5854, marked with Red Arrow, if trades below that may be the sign for weakness and sell off may start in. Or even if trades below the lower channel may give weakness too. Support 5854 and 5842. If Continue to trade above the channel may continue the rally for some more time also. Lets See.

>> JP Associates <<

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Jp Associates - Upmove seems like a corrective one as I marked it as a-b-c, facing a major hurdle at golden ration 38.2% or 79.2. Resistance 79.2 and 78.6 not taken out means, fall unavoidable. Lets See.

IHS Formation

Dear All,

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Nifty trying to form a IHS, MACD & RSI showing Negative Divergence. Should wait for Clarity as volatile persist due to Expiry. Lets See

Resistance 5870

Dear All,

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Nifty faces resistance at the Upper Trend Line, also 5870 spot which is 61.8% of previous fall.

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.

>Click the chart to see on full screen<

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.