RELIANCE

RIL has made a Shoulder Head shoulder Pattern which is bearish.The target for the pattern is 925 provided it breaks the previous Gap support of 960 on closing basis.RIL may temporarily go for a “pull back” towards 1007 which is the neckline of SHS pattern.But after the pullback it will try to test 925.

Note The Pullback may not happen also & it may directly test 960 & then 925.

READ THE DISCLAIMER

STOCK MARKET VIEW FOR 29 th APRIL

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY (5785.45)

Nifty is still moving in a range between 5945 & 5693.

Bullish -Close above 5945

Bearish -Close below 5693


FRESENIUS KABI ONCO (116.7)

A flag formation in Fresenius Kabi Onco,Buy above 125 for target of 135 +

GATEWAY DISTRIPARK (120.4)

Breakout will occur from consolidation on a close above 122.Target 140+

LUPIN ( 434.9)

Lupin has broken out of consolodation triangle.Look for targets of 465 + with stoploss of 414.


MARKET VIEW FOR 28 TH APRIL

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY (5833)

Nifty is moving in a range between 5945 & 5693.It is being stiffly resisted by the trendline from previous tops (refer previous articles) .

Bullish -Close above 5945

Bearish -Close below 5693


BANK NIFTY (11779)

Bank Nifty is also moving in a range.

Bullish above 11980

Bearish below 11480


MARKET VIEW FOR 26 th APRIL

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY (5874.5)

Nifty is trading in narrow ranges & readying for breakout.Bullishness is a close above 5945 with volumes.

BANKNIFTY (11879)

A close above 11980 will usher bullishness is Banknifty

GAIL (479.45)

Gail is moving in creeper mode.Buy near lower trendline of 464-468 .

Financial Technologies (889.65)

Financial tech is forming a flag.Buy above 896 & above 932 it will zoom.Stoploss below 860.

DIVIS LAB(703.6)

Divis is forming a flag.Buy above 706 with a stop below 680


Stock Market View for 25 th April

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed forany consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

The week Gone by :

Arvind Mills & VIP Industries shot up which I had recommended earlier.See the previous articles.

NIFTY (5884.7)

The Nifty is being resisted by the trendline .A break above the trendline & preferably above 5945 will usher in Bullishness.”Upthrusts” are formed in Nifty.Upthrust is a terminology used by Wyckoff,where the Price tests or “peeks” above a resistance area & closes below it.It is like a survey party of Scouts who go to the other side of the fence to gauge the strength.

So if at any time we break above the trendline with volume or gap,it will be bullish.

Click on charts to enlarge.

Individual Stocks I will review after a clear breakout.In the meantime I will give three chart patterns which have formed good patterns & can be bought on corrections.

DECCAN AVIATION (46.9)

Deccan Aviation previously & now called Kingfisher Airlines is making a A-B-C pattern.Buy current with a stop loss of 42.9 for targets of 52 +.

HAVELLS (409)

Havells is forming a series of higher highs & higher lows.Buying can be done on corrections to 382.

HINDUSTAN ZINC (151.90)

Hindustan Zinc has broken out of consolidation with a gap.147.9 will provide strong support .

click on charts to enlarge




MARKET VIEW FOR APRIL 21

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed forany consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY (5851.65) 

Nifty went up by 110.9 points with volumes today.So those who want to take initiative early should consider going long with a stoploss of 5693 ( previous nearest swing low of 19 th April ) or 5753 (20 dma) which suits one’s risk apetite.

Strong Bullishness will prevail above the swing high of 5945.

Click to enlarge

COLGATE PALMOLIVE (909.6)

Colgate has broken from a Flag.Buy at current prices with stoploss of 877.9 for targets of 958+ .

Click to enlarge

VIJAYA BANK (92.8)

Vijaya Bank has broken out of Flag formation .Buy at current prices with stoploss of 86.3 for target of 102 + .

Click to enlarge