|NIFTY POISED FOR VOLATILE TRADING? WATCH RANGE OF 8920/8269|
Sunday, 19 April 2015
S&P NIFTY(INDIA) DAILY CHART ANALYSIS UPDATED APRIL 17 2015. MARKET VOLATILITY TO GO UP SIGNIFICANTLY?
The chart of the Nifty may be tilting in favour of the Bears. The index must move above the 8915/20 levels soon(78% retracement of the swing of 9110/8269). Failure to do so will usher in a test of 8269 and then ultimately levels of 7800/7900 if the support breaks. Fundamentally, the last quarter results may not be supportive for the bull case. We would recommend a 60-70% hedge on your long portfolio. Aggressive short sellers must have a stop of 8920 on Nifty. Long only portfolios must book profit on break of 8269 and wait on the sidelines for a better technical picture to emerge.
Thursday, 16 April 2015
IDEA (INDIA-NSE)- PRICES CAN GO UP BY 20-25% IN COMING MONTHS. WEEKLY CHART ANALYSIS UPDATED 16 APRIL 2015
The stock of IDEA CELLULAR is in the firm grip of bulls and is poised to move substantially higher in the coming months. Prices moved out of the triangle pattern some weeks back and surpassed the previous resistance around 185 levels. Fundamentally, the telecom auctions ended with the company retaining most of the circles where it has good market share. Prices are heading toward a minimum of 240/50 zone in the coming months. Our bullish view will be cancelled if prices close 175 Rs.
|IDEA:Bullish on the chartss and can target 240/250 zone.|
Tuesday, 14 April 2015
The stock of Bharti Airtel is moving into the control of the bulls. The strong trading range of over 6 months 420/340 has given way in favour of bulls. Prices now look set to move toward the higher targets of 480/500 in the coming months. We would like to see volumes improve further which will lend further credence to the bullish outlook. The support level of 370/380 must hold for the above view to materialize.
|BHARTI AIRTEL TO MOVE UP BY 15% FROM CURRENT LEVELS?|
Sunday, 12 April 2015
GOOGLE(USA)- PRICES TO DROP BY 7-10% IN NEAR TERM. DAILY CHART ANALYSIS UPDATED ON MY BLOG APRIL 12 2015.
The stock price of Google Inc (GOOG) is starting to show signs of technical weakness. Prices have moved out of the upward sloping channel lines( marked by black trendlines) and have failed to challenge. the near term top of 570$. The 200 DSM long term average has started to flatten out indicating that longer term sellers are increasing at every rise. If the prices fail to break 570 $ levels in the coming weeks there is every possibility that sellers may push down the prices towards the 490-500 $ zone ( a fall of around 7-10%) from current levels. Our view will change if prices move above 570 on strong volumes.
|GOOGLE: PRICES TO DROP BY 7-10% IN NEAR TERM.|
Sunday, 5 April 2015
MCX ZINC (INDIA) POISED TO MOVE HIGHER BY 7-8% IN COMING WEEKS. DAILY CHART ANALYSIS UPDATED APRIL 3 2015
MCX ZINC prices are starting to act bullish in recent weeks after forming a double bottom around 124 levels in March. Bulls are now getting ready to mount an attack on the next important resistance of 135 Rs. This is confirmed by the positive divergence on the MACD indicator which is gaining strength by making newer highs. Prices can head toward the 142/145 levels in the coming weeks once the level of 135 is taken out. Our view stands modified if prices move below support level of 124.
|TREND TURNING TO BULLISH IN ZINC?|
Disclaimer: The above is not an advice/invitation to buy/sell. Please consult your financial advisor
before acting on the above analysis.
Thursday, 26 March 2015
S&P NIFTY(INDIA)- DAILY CHART ANALYSIS. MARKET HAS BROKEN THROUGH SUPPORTS INDICATING BEARS HAVE SHORT TERM CONTROL
Bears have managed to gain an upper hand over the intermediate trend as trendline support has been broken in yesterday's sharp sell-off. Furthermore, Nifty for the first time has posted a lower bottom formation in the last several months indicating that the top near 9000 levels will be very difficult to overcome. A relief rally may be possible as the market looks oversold at current levels but higher levels near 8550-8600 zone may invite aggressive short sellers.
|BEARS GAINING UPPER HAND OVER INTERMEDIATE TREND?|
Saturday, 21 March 2015
TATA STEEL (NSE-INDIA)- STOCK NEAR CRUCIAL SUPPORT ZONE. WILL BUYERS APPEAR?- WEEKLY CHART ANALYSIS UPDATED MARCH 20 2015
Tata Steel(NSE) is testing crucial support in the region of 310/330 zone and has been in a steady downtrend over the past one year. The stock has not participated in the bull run mainly on back of lower commodity prices. However, there are some positive divergences appearing on the charts which may indicate that the support zone may hold in the coming weeks. The first indication that bulls are back in the counter would be if prices manage to break above the sloping trend line marked on the chart. Till then traders should adopt a wait and watch mode in the stock till there is evidence of a trend change. Fibonacci levels are displayed on the weekly chart.
|TATA STEEL: WILL BULLS MUSTER COURAGE TO DEFEND SUPPORT ZONE?|