Saturday, 29 August 2015

JUST DIAL (NSE- INDIA)- WEEKLY CHART ANALYSIS UPDATED AUG 29 2015- TIME TO EXIT AS TECHNICAL PICTURE BEARISH.

The technical picture of Just Dial is starting to become bearish after the support near the 1000 levels gave way in the market mayhem of last week on the back of fairly large volumes. The next support levels are in the region of 600-650 levels. Investors can think of buying only if the scrip manages to trade above the 1250 mark. The current downward swing is Wave 3 which can be swift and brutal and is in the process of playing itself out. We advise staying away from buying unless there is a formation of Higher lows and Highs on the Charts.


TIME TO DIAL OUT?

Saturday, 15 August 2015

S&P NIFTY(INDIA) RANGE BOUND ACTION CONTINUES BUT PREPARE FOR BREAK OUT OF 8650/8300 RANGE. DAILY CHART ANALYSIS UPDATED AUG 15 2015.

CNX Nifty is yet to break out of the range of 8650/8300 for over 2 months now and you can sense that a big move is coming. Bulls have managed to defend the support level of 8280/8320 very strongly and the short term trend should be assumed to be up till 8300 holds. The chances of a bullish break is increasing as the crude oil prices have dropped below 42$ and interest rate cut expectations due to falling inflation are tipping the scales in favour of bulls, Interesting trading period ahead as both bulls and bears are fighting for control. Standard Disclaimers apply.

MARKET TUG OF WAR CONTINUES BUT NEARING RESOLUTION


Tuesday, 28 July 2015

GRANULES INDIA(NSE)- STRONG UP TREND BUT PROFIT TAKING ON THE CARDS DUE TO OVERBOUGHT CONDITION. DAILY CHART ANALYSIS UPDATED JULY 28 2015

The stock of Granules India has been in a steady up trend over the past several days on the back of strong accumulation by Bulls. The stock is overbought in the short term ( as indicated by RSI of 89.7 on daily charts) and can see some profit taking to the 105-110 zone. This can be the perfect opportunity for investors to get in for the long term. Our Bullish view will be violated only if support levels of 75-80 are broken to the downside.

GRANULES INDIA- THE GREAT INDIAN ROPE TRICK.!

Friday, 24 July 2015

S&P NIFTY(INDIA) LOCKED IN TRADING RANGE OF 8650/8200. DAILY CHART ANALYSIS UPDATED JULY 24 2015

Nifty needs to move above 8650 for the up trend to assert itself. We favour a scenario of consolidation in the 8300/8400 zone in the next couple of weeks before the next directional move occurs. Bulls can hold swing existing trading positions on the Nifty with the stop loss @8200. Traders on the sidelines can wait for a decisive break out of 8650/8200 zone. Market has spent 32 trading days from the swing low of June 12 @7931. The ongoing results season may not lend fundamental support as the earnings growth is likely to be muted.

NIFTY TRADING RANGE 8650/8200. TIME TO WAIT AND WATCH.

Friday, 10 July 2015

HINDALCO- NSE(INDIA)- STOCK NEARING LONG TERM SUPPORT LEVELS. WEEKLY CHART ANALYSIS UPDATED JULY 10 2015

The stock of Hindalco has been mauled by Bears over the past one year and is nearing long term support zones of 85-98. The Weekly chart shows steady selling pressure at every rise but the stock is now reaching valuations where value buyers might step in on further declines. Metals have been sold aggressively on the back of turmoil in the Chinese Stock Market and may present long term value opportunity.

Weekly RSI has reached below oversold levels and a trading rally cannot be ruled out for the short term.

HINDALCO : CAN BULLS DEFEND LONG TERM SUPPORT ZONES

Sunday, 5 July 2015

BAJAJ FINSERV(INDIA)- BULLISH BREAKOUT ON DAILY CHARTS. 20% PLUS GAINS POSSIBLE IN COMING MONTHS.

The stock of Bajaj Finserv has shown a bullish break over the past 2-3 days. Prices have managed to clear the resistance zone of 1580/1600 quite comfortably and is poised to move higher in the coming weeks if the macro situation like Greece Vote and the monsoon coverage do not acts as spoilers. prices should be targeting the 1900-2000 zone in the coming months though some profit taking to the 1600-1620 levels is not ruled out. A protective stop near the 1400-1420 zone should be maintained.

BULLISH PATTERN BREAK IN BAJAJ FINSERV



Monday, 22 June 2015

S&P NIFTY(INDIA). TECHNICAL POSITION IMPROVING AS BULLS MAY ATTEMPT OVERCOMING RESISTANCE AT 8500 IN COMING WEEKS. DAILY CHART ANALYSIS UPDATED JUNE 23 2015

Nifty price action is starting to move in favour of the Bulls as prices have moved the sloping trend line resistance. Technically, the market has bounced back from strong support near the 8000 mark and is getting ready to challenge the top of the range near the 8500 mark. A move past 8500 will nullify the lower top and bottom formation over the past 5 months. A five wave pattern may have been completed on the daily charts(marked on the chart). A better than expected start to the monsoon and increased fund lows from foreign investors have reversed the advantage of the Bears.
MARKET MAY BEGIN UP TREND ON BREAK OF 8500.