Now Enjoy Daily Update

Nifty 08 May

2011-05-08T09:22:00.001-07:00

Nifty looks to have taken support at the trendline shown in the chart and bounced from the lows to close above 5550 level . For trading on Monday the resistance are 5576-5602-5623 and supports are 5526-5500 . One can go long if Nifty sustains above 5602 and add more above 5623 level. If Nifty doesnt manage to breach 5576 then one can short with 10 point stop for quick gains.

Happy trading :)

Beginning Of End ??

2011-05-03T23:33:00.000-07:00

LT and Infosys have formed major Head and Shoulders pattern on weekly chart ...Targets are devastating ...

LT target is 600
Infosys target is 2500-2300-may be 1000

Nifty long term view

2011-02-10T22:14:00.000-08:00

Nifty has formed a common flat , trgt for C wave is disastrous ....

Sesagoa RHS

2011-01-12T20:50:00.000-08:00

346-350 resistance zone ...if sustains above trgt around 380-85

HDFC

2010-10-17T22:11:00.001-07:00

As we can see on HDFC fut chart, a very strong HNS formation with NL 701 ....Todays low 708 ...lets wait for breach of NL :)

Positional Trade

2010-09-08T00:42:00.000-07:00

Short Bankindia cmp 466 SL 474 Trgt 455-440 Positional Trade

Bankindia Update

2010-08-20T02:10:00.001-07:00

Made low 456.90 ....Still sell signal not confirmed though Bankindia has dropped from the 465 level to 456.90 since previous post

BANKINDIA -Possible HNS

2010-08-19T22:41:00.001-07:00

possible HNS .... But one has to wait to breach 455 level ....target 440-430

Update

2010-08-19T00:02:00.000-07:00

RELCAP Fut Buy above 752 SL 745 Target 765-772

TATA STEEL Fut Buy above 532 SL 525 Target 545-555-565

AXIS BANK Fut Sell below 1350 SL 1362 Target 1330-15-05

HDFC Fut Sell below 623 sl 635 Target 610-600-590 (can be carried for positional)

RELCAP Fut First Target done

TATA STEEL Fut not executed yet

AXIS BANK Fut going Good ...hold

HDFC Fut actually spiked at opening trade which executed the trade technically but still I shall say trade has not executed ....

Intraday Trades For 19th Aug

2010-08-18T05:13:00.000-07:00

Icici Cup With handle

2010-08-10T08:09:00.001-07:00

Looks like a Cup with Handle formation breakout above 1010 will lead to major rally toeards 1400-1700 mark .... But only if sustains above 1010 . If doesnt, it may see profit booking till 930-900 levels ...

Sesagoa

2010-08-08T08:24:00.000-07:00

As we can see 263 will now act as the pivot for Sesagoa ...short if stays below for target 257-254...Go long if sustains above for trgt 267-272 ...SL would be 3 points

Major hurdle at 5180-5200 range

2010-03-07T07:00:00.000-08:00

I had posted a short- long term view on 3rd feb , In that post I had mentioned about the significance of the 4700-4538 support range with help of weekly chart . Nifty did manage to breach the first support of 4700 and made low at 4675 but couldnt able to close below 4700 for a single day ,Nifty reversed the direction from that level and now trading at 5080 odd level .

I did mention about entering longs for a mega bull wave in the same post also with target 5800-6300 and above .

Here are some concerns regarding the bullish move :

1) Nifty have formed a small RHS pattern during this move and fortunately we were able to pick the pattern before time and accordingly . This pattern has trgts of 5000-5060-5175 and may be above 5310 . Price wise and timewise this is a very small pattern which might not hold above 5310 and weaken Nifty.

2) 5180 has been acting as major hurdle , Thrice Nifty has reversed from 5180 level and have fallen remarkably for 700,350 and 250 . Though the second reversal was from 5138 level . so 5138 also can block the move .

So stay cautious as this would (as I hope) last chance for bears to take control for major correction .We wil even find for resistance above this level also such as 5310-5450 . Res and Supp do creep in but we have to spot the important ones .

I will surely post if find anything interesting

Happy Trading

RHS on Nifty

2010-02-20T07:12:00.001-08:00

RHS at work - As we can see from above chart , a distinct RHS is in formation .Neckline comes around 4920-40 range . above neckline Nifty can shoot to 5000-5060-5175 and possibly making a new high above 5310 . I would advise to go long above 4920-40 range . The buy signal is not yet formed convincingly on 3-13 ema also , so wait for 4920-40 for buying

Renuka - due for major correction

2010-02-09T07:01:00.000-08:00

Tata Steel

2010-02-08T20:40:00.001-08:00

Its breakdown, breakout counter ...pivot point is 515-525.....watch out :)

SHORT/LONG TERM VIEW

2010-02-03T07:08:00.000-08:00

SHORT / LONG TERM VIEW

As we can see in the weekly chart ,Nifty retraced from the 52 week high by more than 61.8% viz 4828 making a low at 4766 .This looks like a part of corrective wave ,here Nifty might test 4974-5038 or maybe 5100 before start declining again .After testing these levels it might test recent low . No worries till 4700 is not breached , But the real problem will start only below 4538 which comes as the low of 4th major wave . below 4538 this wave will turn out into a major corrective wave of the total 0-5 pattern shown above threatening with targets such as 3500 or below.

Now if Nifty doesnt breach 4700 -4538 zone then we will be getting an opportunity to enter for fifth mega wave which has targets 5800-6300 and above .I would suggest to hold long term deliveries and keep trading in 4800-5100 zone .This is a short to long term view for a period of 3-9 months

Nifty Short Term View

2009-10-21T08:50:00.000-07:00

5050-4970 range is major support as of now ...Two scenarios are likely

1) Nifty holds this support and bounces to reach 5150-5250 range .....5251 comes as the 61.8 % of wave march to 12 june which may be the intermediate of current rally and consolidate in a very small range for 1-3 months , above 5251 Nifty will start its fresh ride towards 6k mark . ...

2) If Nifty breaches 4970-5050 support range it can fall upto 4650-4500 ...around this level Nifty behavior will show us the way ...

so short / long term players watch out 4970-5050 and 5150-5250 levels

Cup With Handle

2009-09-09T08:07:00.000-07:00

Cup with Handle pattern

Nifty looks like on verge of giving a major breakout ....I had explained all the possibilities in May itself when cup was formed on Nifty and also On CNXIT .....So wont go in pattern details again

Few points to notice :

1) CNXIT have already achieved 80 % of trgt price within 3 months which is 30 % of time frame and still goin on

2) Nifty looks like broken the flag pattern but have sustain convincingly (may be 2-3 weeks) above the support line which come around 4800 odd lvl

3) Target as explained on chart is around 6200 to 6700 in 6-9 months time frame

...... This looks impossible scenario for imagination so I posted CNXIT chart for confirmation and reliability of pattern

SO HOPE FOR NIFTY TO SUSTAIN ABOVE 4800 ....BEST OF LUCK

Nifty Expanding Triangle - Target 4057

2009-08-11T08:18:00.000-07:00

wave A 4509-4092 = 417< wave B 4693-4092 = 601 < wave C 4693-3918 = 675 < wave D 4731- 3918 = 813 . This is a horizontal expanding triangle which will be completed with E wave completion , Now E wave does breach the AC trendline but the minimum target is 4057 which comes after some complex calculations , I have also tried to check the time frame of this E wave which comes as 23 days ie 31 st of Aug, This is also a complex calculation no need to specify here ( time frame can vary as it is only for study purpose ). E wave can be a very complex and voilent n may form a zigzag pattern

CNX IT Index

2009-07-28T08:41:00.000-07:00

A perfect Cup with Handle breakout ....already 43% target achieved of cup length ..chart says all :)

Sesa Goa

2009-07-28T08:40:00.001-07:00

Still in a very healthy upmove .....may not fall but correct sideways till 200 ....Looks like bull have already begun in this stock ....

SBI

2009-07-28T08:39:00.000-07:00

Can fall heavily below 1670 -1635 lvl to complete E wave ...resistance around 1740

SAIL

2009-07-28T08:38:00.000-07:00

Major resistance are 181-184-187 now ...buy above these lvls only .....

Reliance Industries Ltd

2009-07-28T08:37:00.001-07:00

Free Fall below 1900-1870 ....below My target is 1605

ONGC

2009-07-28T08:36:00.000-07:00

On verge of cup with handle breakout .....so watch out for the closing above 1110..if sustains above for a week or so My target is 1450 ...below 1070 it might show a down movement upto 950

ICICI Bank

2009-07-28T08:34:00.000-07:00

Extracting / Expanding triangle working supports are 735-705 res 750-775

Bank Of India

2009-07-28T08:32:00.000-07:00

My fav .......what a stock I am loving it.......perfect moves ... Res - 322-335 Supp- 316-314

Nifty Moving as expected

2009-07-13T08:08:00.000-07:00

Nifty moving as Expected n assumed ...pls check below post

Extracting Triangle n HNS both are on work .....As per above chart the central line of the channel is giving support currently .....Now My view is if this support holds a bounce till 4150 can come only to ensure freash fall towards 3850-3700 lvl and that would be more fast n furious ....If this support gets broken without bounce then Nifty will slowly move towards 3700 ....This all about time frame target achievement ......

Only chance for bulls is above 4150 n that too wont be easy

Really show would be at 3700 .....4150 and 3700 are later part so will post later ...till then

Nifty to fall till 3700-3550 below 4150

2009-06-30T23:21:00.000-07:00

check the HNS formation ...NIfty to fall till 3700-3550 below 4150

Gold On Big Bull Move ??

2009-06-25T08:45:00.000-07:00

May be I am over excited , but just have a look :)

Bank Nifty - Symmetrical Triangle

2009-06-16T10:04:00.000-07:00

Extracting Triangle contn.....

2009-06-15T08:06:00.000-07:00

As posted earlier about extracting triangle ,Nifty looks like goin forward for its second bottom at around 3900-3850 lvl ......also a strong HNS pattern here cant be ruled out , its neckline comes around 4100 ....

First thing now will be closing below 4450 will take Nifty to 4350-4300 lvls ......if doesnt then another bounce can be expected .....Lets C

HNS Formation on SBI ??

2009-06-10T10:11:00.000-07:00

SBI has already formed left shoulder 1817-40 lvl with head formation at 2039 n have bounced from the neckline at 1670 and now moving to form the right shoulder .......lets wait n watch if it does so

Sensex Monthly

2009-06-09T10:07:00.000-07:00

This chart n trendlines has been done by My friend Rohit Rastogi ........I have just labeled it , I think have represented A and B wrongly .......I dont know why I have done that but it would be all different market if this works .....watchout for red line shown by Rohit bhai

Extracting Triangle on Nifty ??

2009-06-09T10:04:00.001-07:00

Mr Vivek patil is suggesting formation of extracting triangle on sensex chart may form also on Nifty ....will post details later

Head And Shoulder Formation on day chart

2009-06-07T23:13:00.000-07:00

Nifty formed HNS pattern on 5 day chart with Double shoulder on left , which arises possibility of touching 4450 ....also another shoulder formation cant be denied if Nifty stays above 4570 [:)]

Nifty forming Flat 3-3-3-3 on intra charts

2009-06-04T02:32:00.000-07:00

As we see above Nifty forming flat ....watch out for the breakout ....will post details later [:)]

Is It a Fresh Start???

2009-05-30T05:59:00.000-07:00

Nifty closed near 4444 on the last day of May trading session , The level which has been so crucial from last 2 years ........As we see from the above chart Nifty has rallied with great force whenever it has managed to sustain above 4444 for atleast a week or two n fallen otherwise.......So watch out for this level closely for next 1-2 weeks

About Cup with handle - Nifty retraced from the euphoric high of 4509 to 4092 and managed to pullback again to 4488 , Here a very important point to consider is low volumes in the upmove . Nifty is forming the Handle part now surely , but the Flag -Penant pattern is not confirmed yet . As I have mentioned in My last post when I revealed this interesting Cup with Handle pattern , that Nifty should retrace upto 1/3 of the cup during the handle formation ..... Nifty surely did reached 4090 which can be said enough but some criteria are yet to be fulfilled such as volumes n time range for the formation .......

I dont want this pattern to be failed as it is a very strong bullish pattern which will give us a chance enter for 2000 huge points in very fast n furious way

.......So have patience for some time ........Adios

2009-05-29T02:31:00.000-07:00

Positional Call

Short Nifty Spot at every 50 points cmp 4480 ........Stop Loss above 4650

Trgt 4350 -4200-4050

Reverse Hns on 5 min chart

2009-05-22T02:07:00.001-07:00

Reverse head n shoulders .......go long above 4265 sl 4245 trgt 4320 .......

Cup with Handle in making ???

2009-05-20T07:58:00.000-07:00

Cup with Handle in making ???

........As per above chart Nifty has formed Cup formation ......Now if this pattern is really in making then Nifty may retrace upto 3850 ie 650 points without breaching the high at 4650 in 1-4 weeks .....

....This is a highly bullish pattern which will ensure a major breakout of same length ie 2000 points after the pattern gets complete .......Here Nifty may try to form a Flag , Pennant (Continuation) pattern in handle formation process which will not give easy trades for either longers or shorters

.........This is just an assumption yet .....so bulls pray for this formation to complete so that bull run resumes n we can rally 2000 points again in next few months [:)]

Happy Trading [:)]

Nifty for 08 Oct 2008

2008-10-07T08:05:00.000-07:00

Nifty going for big one ?? Just waiting for a technical bounce to fall more n more .......No bottom visible yet ...lets wait n watch ...... a Doji is formed on candlestick pattern for sure but it needs a consecutive white candle to confirm the Morning Star .......Even 16 th sep a Doji was formed .......but didnt gave its effect , Nifty gave upward rally only after hammer was created on 18 th sept ..........So nothing confirmed yet , But I am also expecting a bounce at this stage....Better to wait n watch for time being

Nifty Analysis For 06-10-2008

2008-10-05T07:12:00.000-07:00

For Intraday trading on 6 th Oct , Nifty may find support around 3805 - 3770 level , breaching of this level may take Nifty to 3750 n then to test previous low of 3715 . The major support comes at 3666 and 3636 which is 200 week EMA .Where a dead cat bounce is expected . On the higher side 3850 then 3880 , breaching of both may take Nifty to 3920 from where fresh shorting can be again seen