Resistance @ 8707. Support @ 8595,8528 & 8472

Dear All,

>>> Nifty Daily Chart <<<

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

After breaking 8550 - entire pattern changed. As shown on above daily chart, Price may move towards upper channel. Lets see detail on hourly chart too.

>>> Nifty Hourly Chart <<<

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

Above chart shows - Price has completed Wave (c) or (iii) as resisted @ 8707. If unable to cross may see a correction till 8595, 8528 and 8472. A correction is a buying opportunity and my move towards the upper channel as shown on above daily chart. Cheers!!!

Happy Bulls Vs Sad Bears - Testing our Patience.

Dear All,

>>> Nifty Hourly Chart <<<

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

Entire day remained above the trend line. 8570 high made a closed near 8550 resistance. RSI was not moving with price, hence confusion on bulls side.

>>> Bank Nifty Hourly Chart <<<

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

Bank Nifty - trading inside the wedge like pattern. We need confirmation for any further move.

>>> CANBK <<<

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

Again a Rising wedge pattern. Its a corrective upmove as A-B-C. Wave C completed 100% of Wave A @ 468. Get ready for a correction if unable to cross above the wedge with a good strength. We are on short side. Lets Wait and see how it works. Cheers!!!

Weekly Review 19.01.2015

Dear All,

Last week to January 16, Sensex soared 664 points or 2.4 per cent to close at 28,122 while Nifty surged 229 points or 2.8 per cent to end at 8,514.

On Thursday, the Sensex gained 729 points to record its highest single-day gain since May 18, 2009, led by financials after the RBI surprised the markets by reducing the repo rate by 25 basis points to 7.75 per cent with immediate effect.

Foreign institutional investors were net buyers in Indian equities worth Rs 3,248 crore for the week, as per provisional stock exchange data.

Key events that shaped the week :-

Industrial production increased at a five-month high of 3.8 per cent in November, while Consumer Price Index (CPI)-based inflation rose to 5 per cent in December from 4.38 per cent in the previous month, primarily due to a rise in food prices.

On the other hand, the wholesale price index-based inflation inched up to 0.11 per cent in December, snapping a six-month easing trend as food costs jumped up year-on-year.

The trade deficit for the month of December decreased by 44 per cent at $9.43 billion hitting a ten month low mainly on account of falling imports due to slump in crude prices.

>>> Nifty Daily Chart <<<

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

Above daily chart - suggest 8550 and 8630 as a key resistance.

>>> Nifty Hourly Chart <<<

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

I think the above Nifty charts had a clear picture with explanations.

>>> Bank Nifty Daily Chart <<<

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

A bearish Hanging man candle at the top of the triangle, RSI on the edge of break out. If price and RSI moves above - price may jump towards new high.

>>> Bank Nifty Hourly Chart <<<

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

Above hourly chart - had a different picture. Possibly its an irregular ABC correction. If so, then 19320 or 19410 must be a key resistance for bull.

>>> Stock of the Week <<<

>>> Asian Paints <<<

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

Asian paint almost completed 1-5 Upmove and We had a Grave stone doji -last friday. Caution advised it unable to cross above 860. We are on Short side.

>>> Performance till 16th Jan 2015 <<<

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

For details of service send email to niftyforall@yahoo.com

Resistance 8550. Caution Advised.

Dear All,

>>> Nifty - As Posted on 12th Jan, 2015 <<<

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

On 12th Jan, 2015 - Posted the possibilities of Nifty moving towards 8484 and 8550. Lets See what happened.

>>> Nifty Hourly - Happened and Yet to <<<

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

A Surprise Rate Cut from RBI - Triggered a 250 Points Rally in Nifty. Almost A-B-C Wave completed as shown on above chart. 8550 should be the key resistance, If crosses above then it may turn the table in favour of Bulls. Friday trade should decide the trend. Cheers!!!

Cat on a Wall ????

Dear All,

>>> Nifty - Daily Chart <<<

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

Almost a cat on the wall. RSI on the edge of break out. Price below 50dma. So one must wait for the cat to decide.

>>> Nifty - Hourly Chart <<<

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

So far bulls are holding safely. Nifty Supp @ 8245, 8211, 8176 & 8127. Below 8065 Nifty may continue its fall badly. Instead if Price able to break above 8356 or 8364 - Bulls may swing with full strength. Should cover all your shorts. So lets Wait and See.

>>> INDUSINDBK - As Posted Yesterday <<<

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

Wrote Yesterday to sell Indus Ind bank. See what happened.

>>> INDUSINDBK - Happened and Yet to <<<

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

Almost made a low of 811. We had a Part Profit for Rs.10K also. Now if breaks below 810, expect a good fall again. Cheers!!!

Gap Filled, Will the Trend Reverse ???

Dear All,

>>> Nifty Hourly - As Posted Yesterday <<<

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

Wrote Yesterday, 8364 and a Gap left on the upperside should be watched. See what happened.

>>> Nifty - Happened and Yet to <<<

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

As per triangle pattern, break out of either side may give us a clear direction. Today Price almost covered the gap as shown on chart. Now if Price breaks and trades below 50 and 100 hma - expect a good correction

>>> Bank Nifty Hourly - As Posted Yeterday <<<

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

Wrote 19006 as a Resistance.

>>> Bank Nifty Hourly - Happened and Yet to <<<

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

Above chart reveals, a channel broken and tested 50 and 100 hma. If continues to stay below the Moving Averages, then expect a good correction.

>>> INDUSINDBK <<<

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

Earlier we met a Stop loss on IndusInd Bank - Today we re-entered Short @ 830 Level. As per chart attached above, price falling with a good volume. Lets expect a good fall. Cheers!!!

Resistance @ 8364, 8484 & 8550

Dear All,

Exceeding the expectation of a marginal improvement after contracting 4.2 per cent the previous month, India’s industrial output grew 3.8 per cent in November, showed the Index of Industrial Production (IIP) data released on Monday. The rate of retail inflation, as measured by the consumer price index (CPI), meanwhile, rose to five per cent in December from 4.4 per cent in November.

On the retail inflation front, urban areas recorded a higher rate, at 5.3 per cent, than the 4.7 per cent in rural parts. Food inflation edged up in December to 4.78 per cent from 3.14 per cent the previous month. A possible explanation for the rise in food inflation could be the full impact of a sub-normal and regionally skewed monsoon being reflected now.

The latest data on inflation seem to justify the Reserve Bank of India’s (RBI’s) position that the recent moderation in inflation is transitory in nature and could reverse. However, with inflation below RBI’s January 2016 target of six per cent, there could still be some clamour from industry for a reduction in the policy rate. The central bank might have room to do so after the Union Budget.

>>> Nifty Hourly Chart - As Posted on Weekly Review <<<

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

On Last Weekly Review - mentioned that 8300 & 8364 as a Good resistance to cross. Today Nifty crossed above 8300 and closed near 8326. Lets see whats next.

>>> Nifty Hourly Chart - Happened and Yet to <<<

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

If 8364 able to cross then possible for nifty to move towards 8484 & 8550. Still the Trend remains sell on rise.

>>> Bank Nifty - Hourly Chart <<<

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

Above chart looks like an IHS - But effective only if able to cross above the drawn channel. At the same time the current upmove looks like an a-b-c corrective upmove, where it finds resistance @ 19006 and 19145. Hence its a sell on rise as given on chart. Lets Wait and See. Cheers!!!

Weekly Review - 12.01.2015

Dear All,

Nifty shed 1-2-1.4 percent for the week, weighed down by Tuesday’s crash over Greece and crude worries. The possibility of Greece exiting the European Union and crude oil slipping below USD 50-a-barrel led to a global sell-off on Tuesday.

Provisional data shows FIIs as having sold stocks worth Rs 2,638.72 crore this week owing to a risk-off sentient amid subdued global cues. The possibility of Greece exiting the European Union and crude oil slipping below USD 50-a-barell led to a global sell-off on Tuesday. Greece exiting the European Union or "Grexit' will significantly hurt the region's common currency -Euro- and will increase the possibility of sovereign default by the country.

A crash of 857 points on Sensex on Tuesday had market worried if the bullish trend has reversed. Experts feel these concerns may be exaggerated and recommend that investors should dips as buying opportunities. UR Bhatt of Dalton Capital sees pressure on crude prices hurting the sentiment internationally but India’s macro fundamentals appear sound. “I don’t think this (correction) will last long,”

Despite a smart recovery led by short-covering this week, market experts of the view that needs to breach the 8450 level to resume the bull-run. Third quarter corporate earnings results, crude oil price movement, US jobs data which is slated to be released later today will dictate the trend in the short-term.


>>> Nifty Weekly Chart - As Posted Last Week <<<

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

As wrote last week, Price able to close inside the channel. So lets see what happened next ?

>>> Nifty Weekly Chart - Happened and Yet to <<<

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

Its a Clear signal from Bear. A Bearish Hanging Man on Price and a Trend line break down on RSI - Gave a clear warning. So expect a good Sell off in coming days.

>>> Nifty Daily Chart - As Posted Last Weekly Review <<<

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

Daily chart - as posted Last week - has closed comfortably above 50dma, Let's see what happened next.


>>> Nifty Daily Chart - As Posted on 07th Jan, 2015 <<<

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

On 07th Jan 2015, Daily chart gave a bearish sign, Closed below 100dma for the second time. Hence its time to check the bear signal.

>>> Nifty Daily Chart - Happened and Yet to <<<

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

Look like a Head and Should on Daily Chart. If breaks 8485 or 78.6% golden Ration - then then trend may get ignored. But if breaks the base line as shown on chart, Expect a heavy sell off and Free Fall. Stay Caution.

>>> Nifty Hourly Chart - As Posted on 08th Jan, 2015 <<<

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

08th Jan posted as 8255 & 8300 key resistance, see what happened.

>>> Nifty Hourly Chart - Happened and Yet to <<<

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

Nifty made a high of 8303 on friday and closed at 8284. Now 8300 and 8364 acts as a key resistance. If unable to cross may give strength to bear. Stay caution.

>>> STOCK PERFORMANCE OF THE WEEK <<<

>>> BHEL - As Posted on 08th Jan, 2015 <<<

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

Wrote on 08th Jan, Price got resisted on the channel - We are on short since 260. See what happened.

>>> BHEL - Happened and Yet to <<<

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

Bhel made a low of 251 almost near the first Target 250. Made a part booking at 255 with a profit of Rs.5000/-. Expect more sell off - going ahead.

>>> ASHOKLEY <<<

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

We are short on Ashok Leyland from 61.50 onwards. Price made a low of 57.5. More fall ahead and we are ready to book our first target 56 with a Profit of Rs.44000.

>>> INDUSINDBK <<<

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

Yes, we are short in this counter. Price and RSI on a clear sell signal. Lets Wait and See. Cheers!!!


>>> Performance till 09th Jan, 2015 <<<

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

Wrote to us @ niftyforall@yahoo.com for more details.

Relief Rally ??? Resistance @ 8255 & 8300

Dear All,

>>> Nifty Hourly - As Posted Yesterday <<<

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

Wrote yesterday - Price can move till 8255, See what happened.

>>> Nifty Hourly - Happened and Yet to <<<

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

As expected Nifty bounced towards 8255. If able to cross 8255 then may test 8300 and 8364 to fill the gap left on the upper side as shown on the chart. Lets Wait and See.

>>> BHEL <<<

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

Bhel looks bearish and its a good opportunity to sell on rise. We are in short and looking for a good fall.

Is this a Trend Reversal - Support 8064. Resistance 8155, 8210 & 8255

Dear All,

>>> Nifty Daily Chart <<<

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

So ... Is this a Trend Reversal ??? Look at the above chart. Price closed below 100 dma for the 2nd times. Its not good for the bulls. If breaks and trades below the channel - worst sell off may happen. Lets see the hourly chart for more details.

>>> Nifty Hourly Chart <<<

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

8064 - Nifty took support today, looks like Wave (a)/(i) got completed. Possible bounce for wave (b)/(ii) up to 8155,8210 & 8255 as shown on chart. Now the trend turning negative and look for a sell on rise.

Support @ 8098 & 8020

Dear All,

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

The Nifty ended at 8127, down 251.05 points or 3 per cent. It touched a high of 8327.85 and a low of 8111.35 in trade today.

So below are the reason behind this worst fall.

1) Oil prices slumped to new 5-1/2-year lows on Monday on worries about a surplus of global supplies and lacklustre demand.

2) India's HSBC PMI for services was down to 51.1 points in December against 52.6 points in November.

3) Globally traders also turned risk averse over apprehensions of Greece defaulting on its loans and losing its status as a Euro zone country which became more pronounced with the leftist Syriza party, committed to roll back austerity measures, emerging as the front-runner for the January 25 election

It was a free fall or call it as a blood bath day. Now 8098, 8046 and 8020 should support nifty. Lets Wait and See.

Support 8360

Dear All,

>>> Nifty <<<

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

8360 if give support, then a bounce possible. Lets wait for it.

>>> Bank Nifty <<<

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

Support @ 18960 & 18923. Lets Wait. Cheers!!!

Weekly Review - 05.01.2015

Dear All,

Indian equities are likely to continue its bullish run this year on the back of improved corporate earnings and RBI's action on interest rates coupled with positive global trends, says an Assocham study.

"The year 2014 has been undoubtedly one of the good years for the Indian equity markets and in 2015 it is expected the growth spurt in coming year with more stability," according to Assocham paper on 'Indian Capital Market outlook for 2015'.

Major Trigger for next Week :-

1) Investors likely to take cues from the banking conference and related reforms announcement

2) ECB Governing Council meeting on Wednesday. No interest rate announcements scheduled.

3) Infosys results on Friday.

So lets See what are the Market data Suggest :-

The 8,600 call-option strikes have maximum OI of more than 35 lakh shares. The implied volatility (IV) of call options closed at 13.44 per cent, while the average IV of put options was 12.96 per cent. Nifty VIX closed around 13.79.

In the coming week, the markets would look forward to the release of HSBC Service PMI data, which is scheduled to be released on January 6, 2015 and Infosys results which will be out on Friday, January 9.

"I think we would move towards 8,500-8,550. The positivity will definitely continue, but to say that we will break the prior high of 8600 and move up one way and make a new high probably that would also be possible," says Sandeep Wagle, founder & CEO, Power My Wealth.

So lets see what Charts Says for the week ahead ...

>>> Nifty Weekly - As Posted on 22nd Dec, 2014 <<<

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

Exactly before 2 weeks - above chart was updated on our weekly review. Wrote clearly - Hanging Man inside the channel will help the bulls to recover. See what happened this week.

>>> Nifty Weekly - Happened and Yet to <<<

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

Price started moving up firmly - as expected. Bulls made a safe close above 15wma - may possibly test the upper end of the channel.

>>> Nifty Daily - As Posted on 22nd Dec, 2014 <<<

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

As Posted on 22nd Dec, 2014 Weekly Review - We have clearly wrote on Chart itself - Nifty may re-test 8372. See what happened ??

>>> Nifty Daily - Happened and Yet to <<<

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

Our long on Nifty hit second Target @ 8410. Since Price holding above 50 dma, expect more fire works.

>>> Nifty Hourly - As Posted on 31st Dec, 2014 <<<

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

8282 was a magic level we wrote on 31st Dec, 2014, See what happened once price moved above 8282.

>>> Nifty Hourly - Happened and Yet to <<<

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

After 8282 - Nifty had a sharp rally on friday. Above 8372 - looks like a fresh break out on chart. RSI also gave a fresh break out, MACD on a fresh Buy Signal. The only Resistance 8484 should get through for bulls to make a new high. Get ready for it next week.

>>> Banking Sector <<<

India's top bankers have gathered in Pune to discuss long-pending reforms vital to improving the health of ailing public sector banks in India.

For years, political interference and union opposition have thwarted major reforms.

"When the country is trying to achieve accelerated growth in economic development it is absolutely essential that banking reforms are thought about, deliberated upon and implemented also," Hasmukh Adhia, financial services secretary in the finance ministry, said on Friday.

Besides the heads of all public sector banks, the two-day meeting ending on Saturday will also be attended by Prime Minister Narendra Modi, Finance Minister Arun Jaitley and Reserve Bank of India Governor Raghuram Rajan.

The issues to be discussed include industry consolidation, restructuring of state banks for better efficiency and governance, as well as asset quality.

So - it looks like a Great move on Banking Sector from Modi Govt. So expect some more Good news in next Week and Major fire works and New High on Bank Nifty Index and Many Banking Stocks too.

Lets Move on to Technicals Now..

>>> Bank Nifty Daily - As Published on 22nd Dec, 2014 <<<

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

On 22nd Dec, 2014 - wrote on blog - Bank Nifty has completed 4th subwave and may move up for 5th wave. See what happened.

>>> Bank Nifty Daily - Happened and Yet to <<<

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

If you see the above chart - will agree that - bank Nifty on a Clear Break out above 18855 and 18923. Next Resistance @ 19725. Get Ready.

>>> Bank Nifty Hourly - As Posted on 31st Dec, 2014 <<<

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

Posted on 31st Dec, 2014 - Break out above 18735 - See what happened on Friday ?

>>> Bank Nifty Hourly - Happened and Yet to <<<

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

Above chart looks like a Cup and Saucer or some thing like an IHS break out - Shows a blast upmove coming. No more words, Just get ready to enjoy the rally.

>>> Chart Performance of the Week <<<

>>> RELINFRA - As Posted on 29th Dec, 2014 <<<

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

Wrote on 29th dec, Relinfra to give a Break out. See what happened.

>>> RELINFRA - Happened and Yet to <<<

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

If the triangle breaks out - Get ready for a fresh rally.

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

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

Of course we are updating Bharti Airtel for last 2 weeks and we are holding our long too. See what happened this week.

>>> BHARTIARTL - Happened and Yet to <<<

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

From 344 to 364 with a profit of Rs.10,000/- Expect more rally if Price continue to stay above Pitch fork.

>>> SBIN <<<

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

We are long since 312. We made a Part Booking @ 317. Next week if breaks above 318 - Expect more blasting move on card.

>>> IOB <<<

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

Break Out & Break Out - Nothing Else.

>>> Performance for the month end - Dec, 2014 <<<

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

Write to us on niftyforall@yahoo.com for details. Cheers!!!