Saturday, 19 November 2016

NIFTY(INDIA) INDEX- TRADING NEAR LONG TERM SUPPORT LEVELS. WILL THE SUPPORT ZONE OF 7900/8000 LEVEL HOLD? DAILY CHART ANALYSIS UPDATED NOV 20 2016

Nifty has been under selling pressure in the last few weeks on the back of the results of the US Elections and the demonetisation drive announced by the Government. Technically, prices are now trading near long term support levels of 200 DEMA of 8131. The level of 7900/8000 is a very strong support level which we expect to hold in the coming weeks. Banks are now flush with funds due to cash deposits and there is a very strong possibility of RBI cutting interest rates in the next policy meeting in December 1st Week. It is very likely that Nifty may bounce to 8300/8400 levels on the back of short covering with Banking stocks leading the way. Chart is posted for educational purposes and is not a recommendation to buy or sell. Individuals must trade according to their risk appetite/ financial capacity after consulting their respective financial advisers.

NIFTY NEAR LONG TERM SUPPORT LEVEL.

Sunday, 6 November 2016

ASIAN PAINTS (NSE FUT-INDIA)- STOCK MAY BE READY TO RESUME UPTREND. DAILY CHART ANALYSIS UPDATED NOV 6 2016

Asian Paints has seen a bout of profit taking from the lofty levels near the 1225 mark and is now poised to resume its uptrend. The RSI indicator has reached extreme low levels of 13 and the risk reward ratio is in favour of buyers. The stock has also corrected 50% of its prior swing which is a good entry point for swing traders. Bears need to be cautious and monitor their short positions as downside risk from these levels are very limited. This could be the end of the profit taking Wave 4 and the upward wave 5 could start anytime. Long term investors should buy at current levels without hesitation. The chart is posted for educational purposes and not an invitation to buy or sell the security. Prices are of NSE Futures.

ASIAN PAINTS- BLUE CHIP STOCK DUE FOR A BOUNCE?

Sunday, 23 October 2016

MCX CRUDE(INDIA) PRICES GETTING READY FOR A DOWNWARD SWING MOVE? .DAILY CHART ANALYSIS UPDATED OCT 23 2016.

MCX Crude(India) may nearing the end of the positional upward swing move since August 1 st week. The scales may be tilting in favour of the Bears as prices are trading near a resistance zone. Our proprietary swing trading tool is now indicating that prices have entered the sell zone and aggressive traders can consider start building short positions in anticipation of a downward swing. The chart is posted for educational purposes and is not a recommendation to buy or sell.

MCX CRUDE-DOWNWARD SWING AHEAD?

Sunday, 2 October 2016

HINDUSTAN UNILEVER (INDIA-NSE)- STOCK MAY BE GETTING READY FOR A TECHNICAL BEARISH BREAKDOWN. DAILY CHART ANALYSIS POSTED OCT 2 2016.

Hindustan Unilever(HUL) has been steadily under performing the overall market over the last month and is exhibiting technical weakness. The steady sell off on higher than average volumes has now brought the stock near the long term support near the 200 DMA and trendline support in the 850/870 zone. We expect HUL to seek lower levels in the coming weeks and a fall of another 10% cannot be ruled out as the overall market is showing signs of weakness. the stock needs to close above the 21 DMA (around 911 now) for us to consider a bullish view. The chart is posted for educational purposes and is not a recommendation to buy or sell.

BEARISH BREAKDOWN COMING IN HUL?

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?