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?

Saturday, 7 February 2015

ICICI BANK(INDIA) POISED FOR BEARISH SWING TO 295/300 RANGE. DAILY CHART ANALYSIS UPDATED 06 FEB 2015

BEARS GAINING UPPER HAND IN ICICI BANK?












The stock of ICICI Bank has been under pressure even since the results were announced last week.
Technically, the prices have broken the channel and trendline support in the 345-350 range and is poised to move lower in the coming weeks. the decline has come on above average volumes indicating that bears have upper hand for the near term.


Mohan Raghav.

Tuesday, 6 January 2015

CRUDE OIL POISED TO FORM SHORT TERM BOTTOM ? NYMEX CRUDE CMP 48$/MCX 3068.WEEKLY CHART ANALYSIS OF MCX CRUDE JAN 6 2015.

CRUDE OIL: EXTREMELY OVERSOLD (RSI 9) IN THE SHORT TERM






















Crude oil prices have fallen by more than 65% from the peak and trading at extremely oversold levels. OPEC seems to be bent on keeping prices below 60/65$ levels where the shale gas producers appear to break even. However, in the short term the fall may have been overdone and a rally to 3300/3500 levels ( a 10-15% rise) cannot be ruled out. In dollar terms crude is trading at 48$ and a snap back rally to 55-58$ is not ruled out.


Mohan Raghav