Saturday, 17 September 2016

CNX NIFTY(INDIA)- IS ADVANTAGE SHIFTING TO THE BEARS IN THE NEAR TERM? CRUCIAL RANGE IS 8970/8690. DAILY CHART ANALYSIS UPDATED SEP 17 2016

CNX NIFTY(INDIA) is trading within the gap down range of 8900/8650 as selling pressure near the 9000 level caused a gap down to the 8700 levels on the back of news that US interest rates were heading up. It must be said that the near term advantage is with the Bears which will be confirmed once the minor  support near the 8650 mark gives away. A break below the 8650 mark will open up targets of 8500/8250 levels. A break above 9000 is required for the Bullish case to get re-established. A MACD divergence lends further weight to the fact the breakout will be bearish. The intermediate uptrend can be assumed to be over once the level of 8500 breaks. Nifty derivatives analysis suggests that FIIs are buying into puts on expectation of lower prices. The chart is for educational purpose and not an invitation to buy or sell.

SELLING PRESSURE TO INTENSIFY?

Saturday, 3 September 2016

MCX SILVER MINI(INDIA) CMP 46034 INR - BULLISH SWING TO TARGET HIGHER LEVELS? DAILY CHART ANALYSIS UPDATED SEP 4 2016

A typical continuation trade may be emerging in MCX SILVER MINI contract with wave 5 about to start after completion of wave 4. A bullish swing will be confirmed once prices move out of the regression channels and can target prices above 51000-52000 in the coming weeks. A protective stop can be placed just below the region marked as wave 4 in case the elliot wave counts start to change. The chart is posted for educational purposes and is not an invitation to buy or sell.

BULLISH SWING TO COMMENCE IN MCX SILVER?

Sunday, 28 August 2016

MCX NICKEL MINI(INDIA)- CORRECTIVE MOVE COMPLETED AND WAVE 5 UPWARD MOVE TO COMMENCE? DAILY CHART ANALYSIS UPDATED AUG 28 2016

A classical Elliot Wave pattern trade may be forming in MCX Nickel(India). Prices have been in profit taking mode after making a swing high around 740 levels in August. Wave 4 profit taking may be complete around current levels of 655/57 and prices may be poised to move upwards to make a new Wave 5 high. The impulse trade pattern may be invalidated if prices start trading the levels marked as (1) @640/645 zone. Traders can buy @ current levels with stops placed at 640 levels to ride the coming uptrend. Chart is posted for educational purposes and is not a recommendation to buy or sell.
MCX NICKEL MINI- UPTREND TO COMMENCE?

Sunday, 21 August 2016

ANDHRA BANK (NSE-INDIA)- BULLISH BREAKOUT IN THE COMING WEEKS? DAILY CHART ANALYSIS UPDATED AUG 21 2016

The stock of Andhra Bank (NSE- India) is starting to show an improved technical picture with prices gradually grinding upwards over the past 3 months. The stock made a swing low around Rs 42 in Feb 2016 and since then moved higher than the first resistance level of 56. A pull back in the form of an ABC correction from swing high of 65 may have ended at around Rs 55. The bullish technical breakout will be complete once the prices move above the 64-65 zone. Our view will be invalidated if the prices break below the 53-54 zone. The chart is posted for educational purposes and is not a recommendation to buy or sell.

ANDHRA BANK TO ATTEMPT BULLISH BREAKOUT?

Saturday, 13 August 2016

CNX NIFTY(INDIA)- MARKET NEAR CRUCIAL RESISTANCE LEVELS. WEEKLY CHART ANALYSIS UPDATED AUG 12 2016.

Nifty has been in a steady uptrend over the past several weeks on the back of excellent progress of the monsoon and is now poised near the critical Fibonacci resistance of 78.6% of the entire swing from  9126/6942 range. Traders with long positions should monitor the market for any larger than usual profit sales and opportunistic sales by Bears at current levels. Stop loss for swing traders should be in the 8400/8500 levels. Fundamentally, earnings of companies are yet to catch up and market is trading at a pricey P/E ratio of 21-22 times (Nifty Index stocks).

NIFTY AT CRUCIAL 78.6% FIB RESISTANCE.

Sunday, 31 July 2016

RELINFRA (INDIA-NSE)- BULLS READY TO TAKE OUT NEXT RESISTANCE? WEEKLY CHART ANALYSIS UPDATED JULY 31 2016.

The stock of RELINFRA is starting to act in a bullish manner and is ready to take on crucial resistance zone of 620/650 after a consolidation of more than one year. A positive moving average crossover is lending credence to the view that long term trend has turned bullish. Long term investors can place stop near the 460 levels on the basis of the rising trendline. Bullish break out will be confirmed once 650 levels are taken out.

BULLISH BREAK COMING?

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