Saturday, 23 April 2016

CEAT LTD(NSE-INDIA)- SIGNS OF TECHNICAL WEAKNESS AND LOWER PRICES AHEAD?. DAILY CHART ANALYSIS UPDATED APRIL 23 2016

The stock of CEAT LTD is beginning to exhibit technical weakness with prices facing selling pressure from the 61.8% Fibonacci level@1146. RSI is also forming a negative divergence indicating that bulls are beginning to lose steam. A break below the 1050 mark will confirm that bears have control over the counter while a move above the 1146 mark is again required for a bullish view.

CEAT LTD: LOWER PRICES AHEAD?

Sunday, 10 April 2016

AJANTHA PHARMA (NSE-INDIA)- STOCK HEADING HIGHER IN THE COMING WEEKS?-DAILY CHART ANALYSIS UPDATED APRIL 8 2016

The Ajantha pharma stock has been showing good relative strength while the majority of the pharma stocks have been witnessing selling pressure. The stock has just cleared crucial overhead resistance and can head to challenge the previous highs of 1600 levels. Investors can buy on delivery basis with stops near the 1310 levels. Being a mid-cap stock, the volatility can be high.

BULLS IN CONTROL OF AJANTHA PHARMA COUNTER?

Thursday, 31 March 2016

EUR/USD- EURO BULLS TO TAKE CONTROL?-DAILY CHART ANALYSIS UPDATED MARCH 31 2016.

EURO Bulls are beginning to take the advantage in the EUR/USD chart once the trendline resistance in the 1.135-1.1450 area is taken out. The moving averages are in positive crossover mode with the intermediate 50 DMA  poised well above the long term average of 200 DMA. Euro is poised to break out of the triangle pattern and higher targets of 1.19-1.20 can be attained in the coming months. Since the fundamental case for a continued Fed hike is not established, it can be expected that USD index will be weak for the coming quarter.

EURO BULLS READY TO TAKE CONTROL?

Saturday, 12 March 2016

CNX NIFTY(INDIA)-KNOCKING AT THE DOORS OF A TREND CHANGE AT 7580/7600 RESISTANCE.BULLISH BREAK AHEAD?-DAILY CHART ANALYSIS UPDATED MARCH 11 2016

Nifty has staged a smart recovery from recent swing low of 6825 to around 7500 levels. Index may enter into a range bound trade if it is not able to take out resistance in the 7580/7600 range (sloping trendline resistance).RBI credit policy announcement (April 1st week) will be keenly waited for further direction, especially for PSU Banks which are yet to recover from the NPA problem. The gap area of 7200/7300 remains a crucial support for Nifty.

NIFTY UPTREND CONFIRMED IF BULLISH BREAK ABOVE 7580/7600 ZONE.

Thursday, 3 March 2016

MINDTREE (NSE-INDIA)- STOCK READY FOR BULLISH BREAKOUT?-DAILY CHART ANALYSIS UPDATED MARCH 3 2016.

The Mindtree stock maybe preparing to move out of a trading range between 1400-1600 levels. prices are testing overhead resistance near the 1600 mark on the back of strong volumes. Traders need to alert for a bullish break.

MINDTREE TO MOVE OUT OF TRADING RANGE?

Wednesday, 17 February 2016

APOLLO TYRES DAILY CHART(NSE-INDIA)- BULLISH SWING BREAK ON THE CARDS?. DAILY CHART ANALYSIS UPDATED FEB 17 2015.

The stock of Apollo Tyres is starting to show good relative strength in difficult market conditions. Technically, the stock can generate swing trading gains if it manages to clear the immediate resistance in the range of 160-162.  A higher bottom formation will be confirmed if the stock clear the overhead resistance.Targets of 175-180 will open up in the coming weeks. The  bullish view will be cancelled if the stock closes below the 20DMA of 144 levels.

BULLISH SWING BREAKOUT COMING IN APOLLO TYRES?

Wednesday, 20 January 2016

NIFTY (INDIA-NSE). MARKET MAY BE OVERSOLD AND TIME TO COVER SHORTS?. WEEKLY CHART ANALYSIS UPDATED JAN 20 2016.

Nifty has been under the onslaught of the Bears over the past several months and our advised levels of 7300/7500 zone have been achieved. We advise covering shorts at the current levels as the Weekly RSI is at extreme oversold zone and there can be a snap rally on the cards. The long term down trend can be assumed to be reversed only after the market has broken above the 8000 mark. A rally to 7700/7800 zone is likely and further directional movement can be assessed only after the proposals of the Union Budget are unveiled. Bulls need to be watching out for accumulation signals in the 7000/7200 zone before extending volume support. This is a good time for investors with longer time frame of greater than 3 years to start buying on every dip.

BEAR SELLING OVERDONE?