Saturday, 2 July 2016

CNX NIFTY (INDIA)- BULLISH SWING TARGET ACHIEVED. TIME TO TAKE SOME PROFITS OFF THE TABLE? DAILY CHART ANALYSIS UPDATED JULY 3 2016

Nifty has achieved our target zone of 8300- 8400 as per the blog post on 27th May 2016. We expect profit taking the region of 8400/8500 and our view is that Nifty will find it difficult to break through this resistance in this swing. Our view is a fall to the 8100/8200 zone before the next bullish swing takes the index to the 8700/8800 zone. The progress of the monsoon is very crucial and will play a big part in the index movement. BREXIT fears seem to have been overcome completely judging by the market reaction.

BULLISH SWING TARGETS ACHIEVED

Monday, 27 June 2016

ESCORTS INDIA(NSE)- HIGHER PRICES ANTICIPATED ON BACK OF BULLISH TECHNICAL BREAKOUT. WEEKLY CHART ANALYSIS UPDATED JUNE 27 2016.

Escorts India (NSE-India) achieved a spectacular bullish breakout over the last week. The bullish breakout over the resistance zone of 190/195 was accompanied on the back of large volumes. Fundamentally, things are looking up for the company due to a prediction of above normal average rainfall. The company derives around 65-70% of its revenue from agri/farm related sectors. Prices are definitely heading toward the next resistance of 230/240 (161% of previous swing) above which higher targets 290/300 become achievable. We advise gradual buy on declines as the stock is heavily overbought with RSI reading above 90 on weekly charts. The chart is posted for educational purpose and is not a recommendation to buy or sell and standard disclaimers apply.

ESCORTS- BULLISH BREAKOUT ON WEEKLY CHARTS.


Sunday, 19 June 2016

COMEX GOLD- BULLS TRYING TO BREAK FORMIDABLE RESISTANCE. DAILY CHART ANALYSIS UPDATED JUNE 19 2016.

Bulls are making a fresh attempt in COMEX- GOLD  to take out the resistance near the 1305 mark. The market nervousness about the BREXIT plus the fact that the FED is on hold for one more quarter is fundamentally helping their cause. If the resistance near the 1305 mark is taken out then we can head higher to 1375/1400 zone in the coming weeks. BREXIT will cause a fresh round of buying and the gains could be rapid in that event. Support is at 1220/1230 levels due to rising trendline. This indirectly means that the equity markets could be under pressure globally till a clearer picture emerges at the end of the week. The chart is posted for educational purposes and is not an invitation to buy or sell.

BULLS HAVE ADVANTAGE IN COMEX GOLD?

Saturday, 11 June 2016

GERMAN DAX INDEX- POISED TO BREAK INTERMEDIATE SUPPORT?-DAILY CHART ANALYSIS UPDATED JUNE 12 2016

The German Index (DAX) Index is throwing up bearish signals on the daily charts. The first sign of technical weakness was when the Index failed to clear the 61.8% of the previous swing near the 10400 levels. Subsequently, the index spent considerable time in a sideways mode and but selling pressure is now forcing a retest of support zones of 9500/9700 zone. A break below these levels will induce a test of the previous swing lows near the 8500 mark of Feb 2016.

Fundamentally, the BREXIT vote on June 23 will ensure that the Bulls will be on the defensive. We advise traders aggressive longs to actively monitor their positions on a real-time basis. The chart is posted for educational purposes and not an invitation to buy or sell.

GERMAN DAX TO BREAK INTERMEDIATE SUPPORT?

Monday, 6 June 2016

PTC INDIA- BULLISH BREAK TO TARGET HIGHER LEVELS IN THE COMING WEEKS- DAILY CHART ANALYSIS UPDATED JUNE 6 2016.

The stock of PTC India(NSE) may be preparing for a bullish technical breakout. Bulls are threatening to take out the resistance zone of 73-75 in the coming weeks. Higher targets of 95/100 will open up once this resistance level falls. Investors must now look for expanding volumes which will lend credence/confirmation to the bullish breakout. The bullish trend is intact will the lower trading rage of 55/58 levels is not violated. The chart is posted for educational purposes and is not a recommendation to buy or sell the security.


PTC INDIA- ON THE VERGE OF A BULLISH BREAKOUT?

Friday, 27 May 2016

CNX NIFTY(NSE)- BULLS BREAK THROUGH RESISTANCE!-DAILY CHART ANALYSIS UPDATED MAY 27 2016.

Nifty achieved a bullish breakout after the level of 7970 was taken out. The bears have received a sound thrashing and the advantage has shifted to the Bulls. The immediate resistance for the Nifty is 8180 and once that level is overcome the market can head toward the higher levels of 8300-8400 zone where we can expect some profit taking. The market has been taking bad news in its stride (especially PSU Bank results) which suggest a bullish swing is in progess. Support is provided by the rising trendline. Chart is posted for educational purposes and not a recommendation to buy or sell.

NIFTY BREAKS THROUGH RESISTANCE



Saturday, 21 May 2016

CNX NIFTY (INDIA)- POISED TO TRADE WITH BEARISH BIAS FOR COMING WEEK?- DAILY CHART ANALYSIS UPDATED MAY 21 2016

Nifty has met with selling pressure near the important resistance level of 7950 and reacted down. The next levels of support are at 7700/7550 levels, the levels from where the Nifty bounced back  previously. During the coming weeks Nifty looks poised to head toward the 7575/7650 zone as a first target. The market action nears these levels need to be evaluated at that point in time. The trend remains bearish unless we take out the level of 7970 on the upper side. Fundamentally, the possibility of Fed rate hikes are back on the table which may ensure that Bears will keep up the pressure at every rise. The chart is posted for educational purposes and is not a recommendation to buy or sell.

NIFTY POISED TO DRIFT LOWER TOWARD 7575/7650 LEVELS.?