Support 5800. Resistance 5985 & 6100

Dear All,

Fed likely to reduce bond buying :-

The US Federal Reserve is expected to begin its long retreat from ultra-easy monetary policy on Wednesday by announcing a small reduction in its bond buying, while stressing that interest rates will remain near zero for a long time to come.

Most experts are of the view that the US Fed won't take a hawkish stance on QE. They expect a tapering of about $10 billion, something which they say has been factored in by the markets.

Any adverse reaction and you might have a sharp rally or a sharp fall into the markets.

The Reserve Bank of India's new Governor Raghuram Rajan is expected to leave key policy rates unchanged in his first monetary policy review on Friday, and continue emergency cash tightening measures initiated in-mid July to stabilise the rupee, and check racing inflation.

Of the 52 economists polled, 50 expect the policy repo rate to remain at 7.25 percent, and 47 of 48 respondents see the cash reserve ratio, or the portion of deposits banks have to maintain with the central bank, unchanged at 4.00 percent.

The sharp depreciation in the Indian currency was largely due to speculation, ballooning current account deficit, weakness in domestic economy and strengthening of the US dollar.

Meanwhile, the appreciation in the domestic currency would be largely driven by the recent policy measures taken by the RBI, resumption of capital inflows, passage of economic reform bills, lower current account deficit (CAD) in FY14 and pick-up of economic growth momentum from the third quarter of this fiscal.


>>> NIFTY <<<

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

Said Yesterday 5800 Holding and today we saw a sharp bounce on the last hour of trading. Now 5985 and 6101 as important resistance. Lets See.

>>> BANK NIFTY <<<

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Bank Nifty moved above 50dma and now facing key resistance 10495 or 61.8% Key Retrace. Cross above 10495 may see 11075. Let See.

>>>> ULTRACEMCO - As Updated Yesterday <<<

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>>>Happened and Yet to<<<

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Price touched a high of 1730 and yet to reach the first target. Expect more upside to come.

5800 Holding

Dear All,

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

5800 and 50hma save marginally shows possible pull back. Fed meeting and expectations from RBI meeting should be closely watched for next move on market. Lets See.

>>> ULTRATRECH <<<

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Ultra Tech - gave a good Break out. So expect a good pull back.

Support 5800 !!!

Dear All,

Summers withdraws from consideration for Fed post:-

Lawrence Summers, the former U.S. Treasury secretary, called President Barack Obama Sunday to say he is pulling out of the contest to succeed Ben Bernanke as chairman of the Federal Reserve.

“I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery,” Summers said in a letter to the president that followed the telephone call.

Summers, widely regarded as a brilliant economist and a shrewd and decisive policy-maker, was considered to be the front-runner for the position to replace Bernanke, whose second term expires in January. However, Summers was dogged by controversies including his support for deregulation in the 1990s and comments he made about women's aptitude while president of Harvard.

The demise of Summers' candidacy is another setback for a president whose second term has been plagued by the defeat of gun control legislation, stalled immigration reform measures, and controversies including leaks about widespread eavesdropping by the National Security Agency.

Summers and Yellen both were viewed as highly qualified for the post. However, financial markets believed that Yellen would be slightly more likely to keep the Fed's easy money policies in place for longer than Summers.

U.S. stock-market futures pointed to a sharply higher open for Monday after former Treasury Secretary Lawrence Summers dropped out of the running for the top Federal Reserve job. Gold also surged as the dollar fell.


>>> NIFTY <<<

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

5800 shows support and if holds upmove may continue for wave (v). Lets See.

>>> RANBAXY <<<

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I WISH TO CONGRATS ALL MY CLIENTS WHO MADE BIG BIG MONEY TODAY IN RANBAXY SHORT.

Weekly Review 16.09.2013

Dear All,

Narendra Modi formally anointed BJP's prime ministerial candidate :-

Gujarat Chief Minister Narendra Modi would be the Bharatiya Janata Party (BJP)’s candidate for prime minister in 2014, party president Rajnath Singh announced here on Friday.

>>> NIFTY - Daily - As Updated Last Weekly Review <<<

>Click the chart to see on full screen<

Last week said Nifty may bounce to touch the trend line as given on chart. So every one saw what happened this week!!!

>>> Happened and Yet to <<<

>Click the chart to see on full screen<

Exactly as said Nifty bounced and touched the trend line and its now time to correct ??? Yes possibly should correct before next upmove. Lets see details on Hourly chart - which had some clues!.

>>> NIFTY - Hourly Chart - As Updated last week <<<

>Click the chart to see on full screen<

Last week said there is a Reverse H&S break out on chart and mentioned possible target as 5720 and 5884. All targets achieved as said and lets see whats pending for this week.

>>>> Happened and Yet to <<<

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So Now Possible for Nifty to correct from here if break the channel as shown on chart. Target 5800,5720 & 5650. Lets See.

>>> BANK NIFTY - As Updated Last Weekly Review <<<

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Bank Nifty achieved First Target 10295 as said Last Week. So whats Next...???

>>> Happened and Yet to <<<

>Click the chart to see on full screen<

So Bank Nifty touched the First Target...So whats next ??? Possible Correction...We had a clear direction on Hourly Chart ...!!!

>>> BANK NIFTY - Hourly Chart <<<

>Click the chart to see on full screen<

Yes, Bank Nifty Hourly Chart suggest and Possible H&S Break down. MACD signals a break down with downside target of 10011, 9765 & 9560. Lets See

>>> BLOCK BUSTER CHARTS OF THE WEEK <<<

>>> UCO BANK <<<

>Click the chart to see on full screen<

>>> AMBUJA <<<

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>>> YES BANK <<<

>Click the chart to see on full screen<

>>> TITAN <<<

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>>> INDUSIND BANK <<<

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>>> PERFORMANCE <<<

>Click the image to see on full screen<

Support 5800, 5720 & 5657

Dear All,

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

As wrote and cautioned yesterday, Nifty started falling down. Support 5800, 5720 and 5657. Lets See.

>>> AMBUJA <<<

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

Ambuja facing Resistance near 187, if not crossed then expect more fall in coming days. All my clients holding short with Part Profit booked at 180 for Rs.10,000/-. More fall likely.

>>> YES BANK <<<

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

Yes Bank ready for more fall. We had a short on Yes Bank and Booked First Target at 272 or Rs.6000/-. Though More fall likely in this counter.

>>>> TITAN <<<<

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Titan looks weak and if trades below the channel as shown on chart, should fall more. We had a Sell call and booked Part Profit for Rs.5000. Lets See.

Caution Advised

Dear All,

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

5912 - Unable to cross today raised concern and so CAUTION ADVISED. Macd also in sell mode. Possible for correction from here onwards. Lets See.

>>> GODREJIND - As Updated Yeterday <<<

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>>> Happened <<<

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GodrejInd - almost near the second target. Profit nearly 1000x23 = Rs.23000/-

>>> UCO BANK <<<

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

Uco Bank Gave to us Rs.12000 Profit. Exited fully due to caution. Lets See.

Resistance 5910 & 6070

Dear All,

India's August trade deficit narrows:-

India's trade deficit for the month of August narrowed to $10.9 billion, versus $12.26 billion in July. The deficit narrowed on the back of improving exports and declining imports, and was down 11% month-on-month.

While exports stood at $26.14 billion in the month of August as against $25.83 billion in July (up 1.2% month-on-month), the imports came in at $37.05 billion versus $38.10 billion in July. Imports saw a decline of 2.7% month-on-month.

Imports for FY14 till August were reported at $197.8 billion, a rise of 1.7% year-on-year. Exports on the other hand grew 3.9% YoY, and stood at $124.43 billion in the period April-August.

Gold imports declined significantly to $0.65 billion versus $2.2 billion month-on-month.

Last week, stating that a long-term stability in rupee can be driven only be a lower Current Account Deficit (CAD), Bank of America Merrill Lynch (BofA-ML) in its latest report has said that it sees a likely up tick in India's exports.


>>> NIFTY <<<

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

Nifty crossed 5884 as given on the weekly review. So Now Next Resistance levels are 5910 and 6070. Lets see.


>>> LICHSGFIN <<<

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LicHsgFin achieved first Target after a good break Out.


>>> GODREJIND <<<

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GodjrecInd also done first Target.


>>> Larsen & Tubro - As Updated on 06th Sep, 2013<<<

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>>> Happened <<<

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LT met all target. But for performance side we take only first Target. Cheers!!!

Weekly Review 10.09.2013

Dear All,

IS THE WORST OVER FOR RUPEE????? :-

Raghuram Rajan's debut on Wednesday as the new Reserve Bank of India (RBI) governor was well-received and he immediately unveiled a slew of proposals to support the rupee.

This has raised hopes that the RBI will now adopt a new approach to defending the rupee, as the extent to which it's defence strategy has worked so far is hotly debated.

While the RBI has been intervening heavily in both spot and forward markets to support the currency, especially when it nears its record lows, there are technical signs that the rupee is set for some near-term consolidation.

The Fibonacci Retracement, a widely used technical tool that charts and predicts patterns in currency movements, signals an eventual move for the rupee to as high as 63 levels from current 66 levels.




>>>> NIFTY WEEKLY - As given on last weekly Review <<<<

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

Last week said - Weekly chart had a Pipe Bottom and Closed above 50% Fib Level and also saved 5380. Wrote the Possibility of U Turn.

>>> Happened and Yet to <<<

>>> Happened and Yet to <<<

As said last week Nifty took a U turn. So the Upmove should continue next week also.

>>> NIFTY DAILY - As given on Last Weekly Review <<<

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

As per Daily Chart given on last weekly review - Macd and Rsi gave us a Buy signal. So we saw what was the result this week.

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<
I hope no need to explain what i have mentioned on daily chart as i feel my chart speaks out every thing. In simple get ready to see more fire works from Bulls.

>>> NIFTY HOURLY - As Updated on Last Weekly Review <<<

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

Last week's Hourly chart - told about the need to cross the trend line.

>>>> Happened and Yet to <<<<

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

So this week hourly chart speak out 2 bullish signs. 1) Trend Line cross Over. 2) IHS Break out. So Targets should be 5720 and 5880 Soon.

>>> BANK NIFTY - As Updated Last Weekly Review <<<

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Last Weekly Review - Said about Bank Nifty has completed 127.2% for wave (c)/(iii) and formed a doji.

>>> Happened and Yet to <<<

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

So this week we saw the result - Bank Nifty bounced form the low and gave a clear break out on both MACD and RSI. Crossed and closed above 23.6% Fib level confirmed the Next two targets as shown on chart.

>>> BLOCK BUSTER CHARTS OF THE WEEK <<<

>>> YES BANK <<<

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

>>> IDFC - As Updated on 02nd Sep, 2013<<<

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>>> Happend and Yet to <<<

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IDFC touched 87 and i feel 90 should be the logical next target.

>>>> KTK BANK - as Updated on 03rd Sep, 2013 <<<<

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>>> Happend and yet to <<<

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>>> ANDHRA BANK <<<

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>>> LARSEN & TUBRO - As Updated on 05th Sep, 2013 <<<

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>>> Happened and Yet to <<<

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LT met my first target and made a good money. still more upside left next week also.

>>> PERFORMANCE (so far in the month of Sep 2013) <<<

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