Sunday, 5 July 2015

BAJAJ FINSERV(INDIA)- BULLISH BREAKOUT ON DAILY CHARTS. 20% PLUS GAINS POSSIBLE IN COMING MONTHS.

The stock of Bajaj Finserv has shown a bullish break over the past 2-3 days. Prices have managed to clear the resistance zone of 1580/1600 quite comfortably and is poised to move higher in the coming weeks if the macro situation like Greece Vote and the monsoon coverage do not acts as spoilers. prices should be targeting the 1900-2000 zone in the coming months though some profit taking to the 1600-1620 levels is not ruled out. A protective stop near the 1400-1420 zone should be maintained.

BULLISH PATTERN BREAK IN BAJAJ FINSERV



Monday, 22 June 2015

S&P NIFTY(INDIA). TECHNICAL POSITION IMPROVING AS BULLS MAY ATTEMPT OVERCOMING RESISTANCE AT 8500 IN COMING WEEKS. DAILY CHART ANALYSIS UPDATED JUNE 23 2015

Nifty price action is starting to move in favour of the Bulls as prices have moved the sloping trend line resistance. Technically, the market has bounced back from strong support near the 8000 mark and is getting ready to challenge the top of the range near the 8500 mark. A move past 8500 will nullify the lower top and bottom formation over the past 5 months. A five wave pattern may have been completed on the daily charts(marked on the chart). A better than expected start to the monsoon and increased fund lows from foreign investors have reversed the advantage of the Bears.
MARKET MAY BEGIN UP TREND ON BREAK OF 8500.

Monday, 15 June 2015

US 10 YEAR TREASURY YIELDS POISED TO MOVE TO 3% LEVELS AND THREATEN EQUITY PRICES? DAILY CHART ANALYSIS UPDATED JUNE 15 2015

The technical position of US 10 year treasury yields is starting to move into the grip of bulls. Prices recently climbed over the resistance around the 2.25% zone and are trading near the 2.45% zone. The 50 day MA is poised to move above the 200 day MA which usually indicates a move into long term bull trend. The target for the 10 year yields is between 2.75 to 3% zone in the next quarter. The bond market is definitely pricing in a 0.25% move by the next meeting. All of this does not bode well for US and emerging market equities and investors need to be cautious with excessive leverage in the derivative markets. Please note that there is an inverse relationship between bond yields and bond prices.
US 10 YEAR YIELDS TO MOVE TO 3% IN COMING QUARTER?



Thursday, 11 June 2015

ITC LTD(NSE INDIA) STOCK IN A FIRM BEAR GRIP.BEARISH TECHNICAL BREAKDOWN COMING UP?-WEEKLY CHART ANALYSIS UPDATED JUNE 11 2015

The stock of ITC is on the verge of a technical breakdown. Bears are poised to increase their attack on the last level support zone of 285/90 levels. The stock can break down to levels of 240/50 in the coming weeks if the support zone does not hold. Fundamentally, the environment is not good with the food business not growing at a faster pace to replace the tobacco business which is being threatened with higher taxes with each passing year. Long term holders should think of exiting ITC and should buy into stocks like Dabur or Britannia.(standard disclaimers apply).

BEAR HAMMERING AHEAD ON ITC COUNTER?

Sunday, 7 June 2015

S&P NIFTY(INDIA)- LOCKED IN TRADING RANGE OF 8500/8000? DAILY CHART ANALYSIS UPDATED JUNE 7 2015

Nifty is locked in a trading range of 8500/8000 levels. Directional move is possible only on break out of this range. RSI is near the oversold level of 30 which may induce some technical bounce up. The odds of a Fed interest hike in September is getting priced in the US Bond market. The market may move up if the monsoons are adequate in the coming weeks. This may be a good time to preserve capital and wait for the breakout to happen before active participation. Technically, there is a negative crossover of the moving averages which supports the Bears.

NIFTY TRADING RANGE 8500/8000. TIME TO WATCH FROM SIDELINES?

Thursday, 4 June 2015

RELIANCE INDUSTRIES(INDIA-NSE)- BULLS MAY BE READY TO CHARGE THE COUNTER. TARGETS 940/990 CMP 912.7

The stock of Reliance Industries may be heading for a bullish breakout in the coming weeks. Bulls are preparing for a technical breakout of the triangle pattern marked on the chart with blue trendlines.
The odds in favour of a bullish break have increased due to exceptional technical relative strength compared to the Nifty over the past couple of weeks. Upside targets are 940/990. Stop loss for the trade is 880-885 zone. (Disclosure-Long Futures recommendation for clients)

RELIANCE INDUSTRIES- POISED FOR BULLISH BREAKOUT?

Thursday, 28 May 2015

ARVIND MILLS (NSE INDIA)- STOCK MAY BE ATTEMPTING TO BOTTOM OUT NEAR SUPPORT LEVELS-DAILY CHART ANALYSIS UPDATED MAY 28 2015

Arvind Mills has been in a steady down trend over the past several weeks and is finally seeing channel support near the 230/240 zone. The risk of capital erosion has substantially come down at these levels for longer term investors and some exposure on swing trading basis can be considered. We are expecting a minimum 15-20% appreciation from these levels over a period of 6 months. stops can be considered at 200 levels. Volume activity has also been picking up indicating some sort of trading bottom.

ARVIND MILLS RISK:REWARD FAVOURABLE FOR BUYERS?