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?

Sunday, 24 May 2015

S&P NIFTY(INDIA) -DOWNWARD BREAK COMING?- DAILY CHART ANALYSIS UPDATED MAY 24 2015.

Nifty gained close to 2% for the week but technically is not out of the woods and still to be assumed in a down trend. Bulls will be in control only on breaking the 8525/8650 bank in a conclusive fashion.Overseas markets like Dow Jones/ S&P 500 are showing a stagnation on declining momentum. The bearish trend will be reinforced on break of 8000 levels with targets of 7600/7700 opening up for the next leg down. We are advising to tighten stop losses to 8000 levels in case of long term positions. Fundamentally, earnings growth has been a big disappointment which favours a downward break.

TREND DOWN TILL 8525/8650 IS BROKEN TO UPSIDE.
  

Thursday, 21 May 2015

SURYA ROSHNI (NSE-INDIA) BULLS STARTING TO TAKE CONTROL FOR 20-30% APPRECIATION? DAILY CHART ANALYSIS UPDATED MAY 21 2015

The stock of Surya Roshni is starting to act well technically. Prices have just above the downward sloping trend line resistance on the back of decent volumes. This upmove is coming on back of a base formation in the 100-105 zone over the past 3 months. The next target for the Bulls is to take the resistance near the 126 zone and then the stock will be poised to move up to the 145/150 mark. A protective stop needs to be placed near the 105 zone as the technical picture will become bearish once this support breaks.

BULLS TO TAKE CHARGE IN SURYA ROSHNI COUNTER?

Sunday, 17 May 2015

S&P NIFTY(INDIA)- MARKET AT INFLECTION POINT AND NEED TO BREAK 8450 FOR BULLS TO TAKE CHARGE. INTERMEDIATE TREND TARGETS 7650/7750

The last  few trading sessions have been a tug of war between the Bulls and the Bears with the index witnessing extreme volatility amidst alternate bouts of buying and selling. The line in the sand for the market to turn bullish is 8450 and the current intermediate trend should be assumed to be down. The Futures and options market has become very light with a substantial drop in open interest in the Nifty which indicates that future direction can be determined only after fresh positions are built. The previous swing low of 7997 support must hold for us to analyse for a bullish case. Traders/Investors are advised to use options to protect portfolio downside.(standard disclaimers apply).
MARKET AT INFLECTION POINT. LEVELS TO WATCH 7997/8450.

Wednesday, 13 May 2015

UNION BANK OF INDIA(NSE)- STOCK STARTING TO BOTTOM OUT?-DAILY CHART ANALYSIS UPDATED MAY 14 2015

The stock of Union Bank of India is showing signs of rebounding from strong support on the back of good delivery based buying. The stock has been in a swing down trend ever since it broke the crucial support near the 185 mark. Long term investors can start buying in small lots while keeping an eye on the NPA levels on quarterly basis. Any improvement in the asset quality is likely to result in the stock climbing to new highs. The first sign that bulls are back in the reckoning will be when the stock moves over above the long term average of Rs 198. (Standard disclaimers apply)

UNION BANK OF INDIA- OPPORTUNITY TO BOTTOM FISH?













Saturday, 9 May 2015

BANK OF INDIA(NSE)- WEEKLY CHART ANALYSIS UPDATED MAY 9 2015. BEARS MAY TEST NEXT LEVEL OF SUPPORT OF 160/170 IN COMING WEEKS.

The stock of Bank of India has been in a firm down trend over the past several months. Public Sector Bank stocks have been in the firm grip of bears on the back of fears of escalation in the provisions for bad loans and slippages in structured accounts. Technically, the stock has broken the support at 230 levels and is now headed for the next support zone of 160/170 levels. The 52 week average is paced at 267 which needs to be overcome before the longer term turns bullish. A relief rally to the 210/230 zone should be used to open fresh shorts with a call protection. Current Price 195.7.

BANK OF INDIA POISED TO MOVE TO NEXT SUPPORT LEVEL OF 160/170.

Sunday, 3 May 2015

S&P NIFTY(INDIA) GETTING READY FOR A DEAD CAT BOUNCE FROM OVERSOLD LEVELS. DAILY CHART ANALYSIS UPDATED MAY 3 2015.

S&P Nifty(India) may be oversold in the short term and may be ready for a technical bounce up. At this point in time, it is most likely to be a dead cat bounce. Bears must cover their outstanding shorts at current levels and in the zone of 8050/8100 levels. The Daily RSI has reached extreme reading of around 19 indicates that it will not be wise to open fresh shorts at current levels. The bounce can be to the zone of 8400/8500 levels. Bulls need to be taken seriously only if they manage to push the index above the 8550/8600 zone.

NIFTY HEADED FOR TECHNICAL BOUNCE BACK?