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.?
  

Tuesday, 17 May 2016

YES BANK (NSE-INDIA)- STOCK MAY BE RIPE FOR PROFIT TAKING AT CURRENT LEVELS. DAILY CHART UPDATED MAY 17 2016.

The stock of YESBANK-(NSE INDIA) has been on a bullish trend over the last few weeks and has now entered into a zone where technical traders need to book profit at current levels. The fact that the uninterrupted bullish phase may come to an end is indicated by the RSI indicator making lower highs and the ADX which is indicating a lack of a trending situation. Traders are advised to book profit and re-enter at lower levels.
YES BANK: RIPE FOR PROFIT TAKING? CMP 970.


Saturday, 7 May 2016

INDIA BULLS REAL ESTATE-NSE (IBREALEST)- BULLISH BREAKOUT IMPLIES HIGHER LEVELS AHEAD?. WEEKLY CHART ANALYSIS UPDATED MAY 6 2016.

The stock of India Bulls Real Estate (IBREALEST -NSE) has given a bullish breakout on higher than usual volumes. The stock may face some profit taking which can give opportunity for bulls to accumulate in the coming days. The next level of resistance near 85 levels is expecte to be under threat soon and once that level is broken, targets of 100/110 should be on the cards.Stop loss can be placed below 59/60 levels. The chart is for educational purposes only and not a recommendation to buy or sell.

HIGHER LEVELS AHEAD FOR INDIA BULLS REAL ESTATE?

Sunday, 1 May 2016

NIFTY (NSE-INDIA) -MAY BE POISED FOR MINOR REACTION FROM NEAR 8000 LEVELS.DAILY CHART ANALYSIS UPDATED MAY 01 2016.

Nifty (NSE-India) may be heading for some profit taking as it is meeting some selling pressure near the all important resistance zone of 7950/8000 levels. The uptrend can be assumed to be intact till the rising trendline support is not violated. The index is already up by more than 13-15% from the swing low around 6980 levels in Feb end and may be ripe for some profit taking.

NIFTY TO FACE PROFIT TAKING NEAR 8000 LEVELS?

Saturday, 23 April 2016

CEAT LTD(NSE-INDIA)- SIGNS OF TECHNICAL WEAKNESS AND LOWER PRICES AHEAD?. DAILY CHART ANALYSIS UPDATED APRIL 23 2016

The stock of CEAT LTD is beginning to exhibit technical weakness with prices facing selling pressure from the 61.8% Fibonacci level@1146. RSI is also forming a negative divergence indicating that bulls are beginning to lose steam. A break below the 1050 mark will confirm that bears have control over the counter while a move above the 1146 mark is again required for a bullish view.

CEAT LTD: LOWER PRICES AHEAD?

Sunday, 10 April 2016

AJANTHA PHARMA (NSE-INDIA)- STOCK HEADING HIGHER IN THE COMING WEEKS?-DAILY CHART ANALYSIS UPDATED APRIL 8 2016

The Ajantha pharma stock has been showing good relative strength while the majority of the pharma stocks have been witnessing selling pressure. The stock has just cleared crucial overhead resistance and can head to challenge the previous highs of 1600 levels. Investors can buy on delivery basis with stops near the 1310 levels. Being a mid-cap stock, the volatility can be high.

BULLS IN CONTROL OF AJANTHA PHARMA COUNTER?