Support @ 6090 & 6051

Dear All,

>>> Nifty - As Updated Yesterday <<<

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

Wrote Yesterday that Yellow colored trend line very crucial. So whats next, Lets See.

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

Now the crucial support 6090 and 6051 should be the support and if holds expect the bounce once again. Targets as per mentioned on the chart.


>>> Bank Nifty <<<

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

Bank nifty unable to cross the trend line as shown on chart. If able to hold the Supports 10415 and 10280, the bounce back possible. Lets see.

>>> ICICI Bank <<<

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

ICICI Bank done first Target. If trades below the channel then expect more fall. Cheers!!!

6145 Broken - More upmove Possible

Dear All,

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

6145 crossed and we hit our 15 points Stop Loss also. Now if able to cross the trend line as shown on the chart, then upmove till 6195 and 6265 possible.

>>>> Bank Nifty <<<<

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

Bank Nifty taken support @ Channel top as shown on chart. 10750 shall be the next possible Target on the upper side. Lets See.

>>> DISH TV <<<

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

Good Break out for Dish TV. We are long since 46 and price closed near 48. Almost 16000 Profit and more upmove coming. Cheers!!!

Key Resistance 6145

Dear All,

>>> Nifty - As Updated Yesterday <<<

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

Wrote Yesterday about possible break out on nifty. See what happened today.

>>> Happened and Yet to <<<

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

Yes, Broken out and hit 6141 from 6073. Now 6145 key resistance and if unable to cross then fall should resume once again.

>>> Bank Nifty - As Updated Yesterday <<<

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

Wrote Bank nifty gave a fresh Break out and said upmove on card. See what happened.

>>> Happened and Yet to <<<

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

Bank Nifty zoomed and hit 10618 from 10326. Now Bank nifty if unable to cross 50% fib level then expect correction to resume again, else may test the resistance level as given on chart.

>>> Axis Bank - As Updated Yesterday <<<

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

Wrote Yesterday about Axis Bank for a Big break out. See what happened today.


>>> Happened and Yet to <<<

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

Yes Booked 13750 Profit today. Cheers!!!

Break Out on Bank Nifty

Dear All,

>>> Nifty <<<

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

Nifty break out still awaited. High volatile market increases lot of nervousness on all traders. Confusion + volatile = Loss. Fall in inflation and CAD news from FM not helping nifty for a break out.

But still I advice to follow level and continue to hold long. 6085-6095 break for a positive signal from bulls. Lets wait and see.

>>> Bank Nifty <<<

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

Bank Nifty broken out of the pitchfork. I see this as a valid break out, though if the channel as given on chart gets broken means a fresh short covering.

>>> Axis Bank <<<

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

We have advised Axis Bank Long quite some times before. Even now the stock looks bullish. Break above the channel should trigger a big upmove. 1125-26 should confirm the uptrend. Yes we hold long still. Lets See.

Weekly Review - 17.02.2014

Dear All,

>>> Nifty - Weekly <<<

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

Though the Trend is down, I expect some pull back as corrective upmove. As said earlier we are still holding longs. Previous candle on Weekly chart had a Bullish dragon fly which tested 50 week moving average and followed by an doji like candle suggest the upmove may still happen.

>>>> Nifty - Daily As updated last weekly review <<<<

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

Last week wrote 6130 as resistance and upmove should be there.

>>> Happened and Yet to <<<

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

Though there is a fall stop loss 5970 saved. I still believe the fall as a-b-c and upmove may be there till 6095, 6130 and 6145. Move past 6130 or 6145 may trigger a good short covering to fill the gap left above.

>>> Nifty - Hourly Chart as updated last weekly review <<<

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

Last week said - Price should fill the first gap left above.

>>> Happened and Yet to <<<

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

After the sudden fall on thursday I feel that nifty should bounce once again to cross 6095 and 6130 or 6145. Move above 6130 or 6145 may trigger a short covering till 6267 to fill the gap left.

>>> Bank Nifty - As Updated on 13th Feb 2014 <<<

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

Bank Nifty Updated on 13th Feb - mentioned 61.8% fib lvl as a good support.

>>>Happened and Yet to <<<

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

If 61.8% retrace holds then upmove should be till 10400, 10644. Above 10644 may fill the gap left above.

>>> CESC <<<

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

>>> Apollo Tyre <<<

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

>>> SYNDICATE BANK <<<

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

Yes we are long from 78.5 onwards, Part profit booked for Rs.6000

>>> Performance <<<

5970 Support

Dear All,

Govt may not meet fiscal deficit target of 4.8%: UN Report:-

Ahead of interim Budget, a United Nations report on said the government is unlikely to meet fiscal deficit target of 4.8 per cent of the GDP in the current fiscal due to low growth and high subsidy.

"Given the weak growth momentum in the region and the difficulties in raising tax revenues and curbing expenditure growth, fiscal deficits will remain substantial in the near term," the report titled 'World Economic Situation and Prospects 2014' said.

"In India, the government is unlikely to meet its target of reducing the deficit to 4.8 per cent of GDP in the current fiscal year 2013-14 since growth is below projections and the depreciation of the rupee pushes up the subsidy bill," it said.
The government of India had budgeted to bring down fiscal deficit to 4.8 per cent of GDP in the current financial year, from 4.9 per cent in 2012-13. The interim Budget for 2014-15 is scheduled to be presented in Parliament on February 17.

>>> NIFTY <<<

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

Nifty down again. If the count i have marked on chart is not wrong, i feel nifty may take support at 6000 or 5970 for wave b and to move up for wave c to complete 4th sub wave corrective upmove. If 5970 get breaks then fall may continue. Friday should give the answer. Lets See.

>>> Bank Nifty <<<

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

Bank Nifty too halted at 61.8%, if unable to hold 10400 or 78.6% retrace then fall should continue.


>>> Apollo Tyre <<<

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

First Target done with a Profit of 10,000. Broken all support shows more fall yet to come. Lets See

6131 Resistance

Dear All,

Will DOW see another 1929 Crash Again :-

Yes the current chart of Dow along with 1929 looks similar. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.

Dow over the last two months has continued to more or less closely follow the 1928-29 pattern outlined in that two-months-ago chart. If this correlation continues, the market faces a particularly rough period later this month and in early March.

>>> NIfty - As Updated on 05th Feb, 2014 <<<

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

We have a Buy call on Nifty from 6005 onwards. See what happened.

>>> Happened and Yet to <<<<

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

100 hma resisted. Nifty done 2nd Target. Now if 100hma able to hold and cross above may test 6131 resistance.

>>> Bank Nifty - As Updated on 05th Feb, 2014 <<<

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

Bank Nifty Crossed our Key Resistance 10321. We are long from 10,000 and 10200 onwards.

>>> Happened and Yet to <<<

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

Bank Nifty crossed 10321. If able to cross 100hma then more upside left. Minor break also seen on chart.

>>> CESC - As Updated Yesterday <<<

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

CESC wrote Yesterday about the possible fall - as it broken the Head and Shoulder. See what Happened.

>>> Happened and Yet to <<<

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

Yes, Good fall as expected. Made a Profit of 20,000. Expect more fall also.

Choppiness Continues

Dear All,

Federal Reserve Chairwoman Janet Yellen will be pressed on Tuesday about whether the weaker-than-expected job growth will throw a wrench in the central bank’s tapering plans.

Indian markets today also witnessed a very range bound trading as the market lagged triggers. Today Jennet Yellen (Newly appointed US Fed chairman) will deliver her first view on the monetary policy. It is a known fact that the Indian markets along with its Asian peers are highly dependent on the FII inflow. And her view would provide a good amount of clarity on whether the flow would continue or would reduce going ahead. As a result there was no one who wanted to take a bold step ahead of her spec, ultimately keeping the global markets range bound.

Now the important factor is what to expect from her when she delivers her speech. She has always been considered as pro liquidity and hence one can expect the similar tone today also. Rather even the data on the unemployment front is suggesting that she may ease off the tightening monetary conditions. In the past Two monetary policies Ben Bernanke has cut the bond buying by USD 10 billion each time to take it to the USD 65 billion per month. We expect Yellen to put some breaks on the cut in bond buying and ease some liquidity position. However these are only expectations and the US Fed Chairperson always come out with something surprising every time.

Yellen will chair her first policy-making committee meeting on March 18-19. If the Fed continued to see data suggesting slow growth “there would have to be serious discussion” about whether to change its policy stance

Lets See..

>>> NIFTY <<<

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

As Usual Choppy Trading again. It seems like updating the same chart for last 2 days. May be Nifty too waiting for Yellens Speech. So lets wait and see.

>>> CESC <<<

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

Yes we are Short from 446, made a low of 436. Head and Shoulder break down may trigger more fall. Lets See.

Directionless Trade

Dear All,

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

Directionless Trade. Need to wait and Watch.

Weekly Review :- 10.01.2014

Dear All,

Mobius Says Emerging-Market Selloff to Deepen on Outflows

The worst isn’t over for emerging markets after the benchmark stock index sank to a five-month low and the nations’ currencies tumbled, said Templeton Emerging Markets Group’s Mark Mobius.

"We are looking but actually not buying at this stage. Prices can come down or take time to stabilise." The outlook from Mobius, a consistent advocate of emerging markets who's been investing in the countries for more than 40 years, contrasts with that of Jim O'Neill , who created the BRIC moniker for the four largest developing economies and said this week that the rout created a buying opportunity.

The MSCI Frontier Markets Index rose 21 per cent in 2013, outpacing the MSCI Emerging Markets Index by 26 percentage points, the widest annual gap since 2005. Corporate earnings in the 26 countries that make up the frontier index have risen to the highest level in five years.

Profits in the MSCI emerging index, which is dominated by the BRIC countries, are still about 11 per cent below their 2011 high. The pace of economic growth in China is among the biggest questions in developing nations and the largest risks for markets, Bill Gross, who oversees the world's biggest bond fund at Pacific Investment Management Co., said Feb. 4.

Riskier assets remain vulnerable, he said. The US-domiciled Templeton Frontier Markets Fund has topped 98 per cent of its peers in the last three years with a 4.6 per cent annualized return, according to data compiled by Bloomberg. The fund, which managed about $1.5 billion of assets at the end of December, had its biggest holdings in Middle East and Africa, according to a fact sheet on the firm's website.

Templeton's $13 billion Asian Growth Fund has outperformed 89 per cent of peers in the past five years. Mobius said in a Januray 29 interview that inflows into developing nations would resume later this year because they have fast economic growth, low debt relative to gross domestic product and high foreign-exchange reserves. "There are opportunities," Mobius said. "But there's no rush to get in."

>>> Nifty - As Updated Last Weekly Review <<<

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

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<
As wrote last weekly review, Nifty breached 5970 and took support @ 5933. Key resistance 6130 or 6144, break above these levels may change the pattern and above counts are modifiable. Lets See.

>>> Nifty - Hourly Chart - As Updated as on 05th Feb, 2013 <<<

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

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<
We are long sine 6005 and moved above 6034 and closed @ 6064.

>>> Bank Nifty <<<

>>> Click the chart to see on full screen <<<
Bank nifty if crosses the middle line - expect short covering.

>>> Axis Bank - As Updated on 04th Feb 2014 <<<

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

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<
We are still Long and yet there is a fresh break out see on friday.

>>>> SBI - As Updated on 04th Feb 2014 <<<

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

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<
Again a fresh break out see on SBI on friday. Lets see.