Resistance 5992,6010 and 6025

Dear All,

>click the chart to see on full screen <

So Nifty not able to cross 6087 or 78.6% retrace confirm the end of Wave B, also broken trend line and holding with channel support as shown on chart. Now Resistance at 5992,6010 and 6025. Support 5962.

>>> Jp Associates <<<

>click the chart to see on full screen <

Jp Associates should fall more. Lets See.


>>> Bata India <<<

>click the chart to see on full screen <

Bata if breaks the Channel as shown on chart, expect free fall. Cheers!!!

6087 - Resisted

Dear All,

>Click the chart to see on full screen<

Nifty resisted near 6087 with Lot of -ve div on MACD gives a Warning singal for Bulls. As usual I advice Long traders to remain caution with proper stop loss. Lets See.


>>>Bata India <<<

>Click the chart to see on full screen<

Bata India looks week, Caution advised.

Sell on Rise ?????

Dear All,

>Click the chart to see on full screen <

>>> Jp Associates <<<

>Click the chart to see on full screen <

Disclaimer :- My clients holding short on JP Associates. We have already booked part profit also.

Weekly Review - 22.07.2013

Dear All,

We had a very Choppy Session last week. Reason for the choppiness due to Nifty's corrective upmove extended as a-b-c-d-e instead of my expectation as a-b-c. Also Bank Nifty faced lot of correction and while IT index looks positive as Infy and better than expected TCS results added with falling rupee.

But CAD remains a threat as rupee shows continues weakness and rumors around the corner that RBI may hike rate sooner or later to avoid the rupee falling any more. It means to us that though market remains on the same direction, changes happening with in the waves as per developments. Though if any one is a good Technical Analyst he should remain caution in the market and should avoid over confidence to avoid loss from the sudden changes or twist happening in the market.

Next week market may possibly turn down any time negative. As I have already wrote the current upmove is only a corrective upmove, market should turn any time down from here onwards. Nifty should face a Strong Resistance at 6087 (or 78.6%) retrace of previous fall from 6229 to 5566 which i meant as Wave A. So the current Upmove is Wave B and its extended as a-b-c-d-e. Wave C downside should start any time next week.

>>> Nifty - Daily <<<

>Click the chart to see on full screen<

>>> Nifty - Hourly <<<

>Click the chart to see on full screen<

On Daily Chart nothing unusual and Hourly chart we need confirmation for the downside to break support like 6005 and 5950. Resistance 6087.

>>> Bank Nifty <<<

>Click the chart to see on full screen<

Bank Nifty after making a high of 11812 completed its 4th sub wave as a-b-c and started downside fall for the 3rd of 5th wave and confirmed lot of down side yet to come in. So caution advised once again for Bank stocks too.

Lets See how my Past Charts performed so far. Below mentioned charts are published earlier and hence Update give as per.

>>>> SBIN <<<<

>>>>> As Updated on 14th June, 2013 <<<<<

>Click the chart to see on full screen<

>>>>> Happend and Yet to <<<<<

>Click the chart to see on full screen<

>>> BHARTI AIRTEL <<<

>>> As Update on 19th June 2013 <<<

>Click the chart to see on full screen<

>>> Happened and Yet to <<<<

>Click the chart to see on full screen<

>>> Ambuja Cement <<<

>>> As Published on July 01st, 2013 on our Face Book Fan Page <<<

>Click the chart to see on full screen<

>>> Happened and Yet to <<<

>Click the chart to see on full screen<

>>> Peformance <<<

>Click the image to see on full screen<

enquiries are invited on niftyforall@yahoo.com

Resistance 6047 & 6074

Dear All,

>Click the chart to see on full screen<

So still some more stream left on Nifty. Also after breaking 6038 Nifty again changed its count as a-b-c-d-e as the corrective upmove getting extended. Hence Nifty should find its resistance at 6048,6075 and 6087

Is the Rally Over ???

Dear All,

>Click the chart to see on full screen<

Is the Rally Over ??? Yes it seems like !!!. Wave B completed at 6038. Break below the Trend line as shown on chart may trigger lot of sell off. More over Ben Bernanke's speech tonight gets importance for our Opening tomorrow morning. Hence his speech may spark tomorrow on nifty highly on either side.

So lot of fire works pending tomorrow. So lets wait.

>>>>> INDUS IND BANK - UPDATE <<<<<

Update as on 12th July, 2013

>Click the chart to see on full screen<

>>>>>Happened <<<<<

>Click the chart to see on full screen<

Cheers!!!

Support 5880

Dear All,

>Click the chart to see on full screen <

As wrote Yesterday, nifty spot unable to cross the resistance and made a big gap down opening. Now it seems like nifty started its downward journey from here onwards. Support like 50dsma or 5880 should be broken for more confirmation on the downside. Lets see.

Resistance 6041 & 6114

Dear All,

>click the chart to see on full screen <

Chart above differ slightly from my earlier views - as i felt there is some minor changes in the count. Hence I changed the resistance levels also. So now 6041 & 6114 shall be the resistance.

Though there are lot of bad news flowing form IIP and WPI data front, Nifty continue to move up inch by inch. But stocks are not advancing along with Nifty. As I have already suggested that this is a corrective upmove and the down trend shall resume any time. So the situation looks like a Head or Tail.

One should start booking Longs and advised to protect their profit. Cheers!!!

>>> BHEL <<<

>click the chart to see on full screen <

Bhel already broken the IHS and still consolidating near the Neck like for sub wave 4. Chart attached above shows the immediate support, if not broken good bounce possible, else more consolidation like as the stock should find its support at 183 and 180 levels. Lets See. Cheers!!!

Weekly Review - 15.07.2013

Dear All,

>>> Nifty - Daily <<<

>Click the chart to see on full screen<

5970 Crossed and closed shows strength of Bull. Also Hanging man add more green signal to Bulls. Though one should keep in mind that the current upmove is only a Corrective in nature and upside is only limited.

>>> Nifty - Hourly <<<

>Click the chart to see on full screen<

Above Hourly Chart should be very clear for those who read this blog regularly. I have previously absorbed the possible break out when B wave was triangle nature as a-b-c-d-e. So current upmove should be Wave C. As per Fib Golden Ratio 78.6% or 6088 should be the next target. But I still feel it can also crossed for 6095 or even 6140 may tarsget. Let See...

>>> Bank Nifty <<<

>Click the chart to see on full screen<

I think no explanation needed for Bank Nifty, as its very easy to understand/


>>> Hits of Last Week <<<

>>> Lic House Fin <<<

>Click the chart to see on full screen<

>>> Sesa Goa <<<

>Click the chart to see on full screen<

>>> Indus Ind Bank <<<

>Click the chart to see on full screen<

>>> PERFORMANCE <<<

Upmove Started. Resistance 5960

Dear All,

>Click the chart to see on full screen <

So finally Nifty broken out as said and wrote for wave C. Now resistance at 5960 and if break on the upper side a Valid IHS break will come into effect and should move towards our target as mentioned on previous post. Lets Wait and see.

>>> LIC HSG FIN <<<

>Click the chart to see on full screen <

Lic Hsg Fin if breaks above the Falling Wedge, Expect big short covering and Fresh Buying on card.

>>> Sesa Goa <<<

>Click the chart to see on full screen <

As expected we got result and profit on sesagoa. Yes we bought at 143 and booked at 149 on second target. Still it looks like it had potential to move up above 154. Lets see.

Support 5790

Dear All,

>Click the chart to see on full screen <

As wrote Yesterday, Nifty forming an triangle like pattern as a-b-c-d-e as shown on chart. Now I feel 5790 is a good support and should bounce from there if not broken. So lets wait and See.

Wait for an Upmove

Dear All,

> Click the chart to see on full screen <

Crucial Support 5790 and Resistance 5860. If unable to cross Resistance means Wave b should consolidate further as a-b-c-d-e like a triangle, else if crosses 5860 may confirm the end of wave b and should move up for wave c.

IHS in Progress ???

Dear All,

>Click the chart to see on full screen<

Nifty seems like forming an IHS firmly, as today it got the base line support as shown on chart. If this base line not broken it may bounce towards the IHS Break out on the neck line. Else if gets broken means, may drift towards the gap left below. Lets See.

>>> Bank Nifty <<<

>Click the chart to see on full screen<

Bank Nifty got its best Support at its golden ration 78.6%. Its seems like bouncing back to fill atleast for filling the two gaps left above. Lets See.

Weekly Review :- 08.07.2013

Dear All,

As said Last week Nifty started moving up as I mentioned this as Relief Rally. Now the Scenario is 2 way. Lets see whats all it.

>>> NIFTY <<<

Scenario 1 :-

> Click the chart to see on full screen <

Above count is valid as per the Resistance Level given, If broken those Resistance level, then Second Scenario should come into effect and so the upmove should continue. Else Fall should start from here onwards.

Scenario 2 :-

> Click the chart to see on full screen <

As per the Second Scenario Nifty is forming a 3-3-5 Flat correction, means B wave had a high possibility of moving up as IHS may come into effect towards the Target of 6100 and there after C wave may not fall below 5566. So I prefer not to short at current level to avoid Loss.

>>> Tata Motors <<<

> Click the chart to see on full screen <

Above chart given on Friday, So lets see what Happened now..

Happened and Yet to :-

> Click the chart to see on full screen <

Hope the directions given on chart is clear, No need for explations.

>>> UCO BANK <<<

> Click the chart to see on full screen <

Expect more fall in Uco Bank if 68 is not crossed. We are already in Profit with SL CTC. Let See.

>>> SESAGOA <<<

> Click the chart to see on full screen <

Sesagoa support at 140 should move up from here. Lets see.

>>> Performance <<<

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

Above Performance is up to first week of July 05, 2013. We are adding new clients for this month. Queries are invited on niftyforall@yahoo.com

Relief Rally should Continue

Dear All,

>Click the chart to see on full screen<

As Said Yesterday 5760-67 gave a good support and Nifty started moving up. Should continue till the upper channel as shown on chart. So lets wait..

>>> Tata Motors <<<

>Click the chart to see on full screen<

Tata Motor - We had a good Profit today. Now Price on important juncture where if crosses above the channel, good upmove coming, else more consolidation left. Lets wait and see

Support 5760-67

Dear All,

As said Yesterday Nifty Came down to the 3rd support for sub wave (4) and I hope should bounce back form here with the support of 5760-67, Possible Target near 5900. Lets See.

>>> TechM<<<

>Click the chart to see on full screen <

Today TechM low made 965. We had a Sell call at 1035. First Target met at 980. Expecting a Fall if channel breaks as shown on chart.

>>> Reliance Capital <<<

>Click the chart to see on full screen <

Reliance Capital also met our Target Today. Cheers!!!