INDIAN STOCK MARKET VIEW FOR 1ST JUNE

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.

S & P CNXNIFTY (5560.15)

Nifty closed above 20 dma & is taking resistance at the 50 dma of 5571.6 I will consider the markets as bullish when Nifty makes a higher bottom.

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BANK NIFTY (11020.85)

Bank Nifty also crossed 20 dma & is taking resistance at the 50 dma of 11018.If Bank Nifty makes a higher bottom,I will consider it as bullish.

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RAYMOND (360.8)

Raymond has broken out of triangle .Buy above 364 with a stoploss of 339.9

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INDIAN STOCK MARKET VIEW FOR 31 ST MAY

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.

S & P CNXNIFTY (5473.1)

Nifty is taking resistance at the 20 dma 5499.If it manages to close above it,short term bullishness may be there.

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BANK NIFTY (10781)

Watch 10799 which is the 20 dma of Bank Nifty.Close above 10800 may be bullish for Bank Nifty.

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CIPLA (329.5)

Buy Cipla at current price with a stoploss of 309.

 

 

INDIAN STOCK MARKET VIEW FOR 30 TH MAY

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.

S & P CNXNIFTY (5476.1)

The weekly Nifty has been showing Bottoming Tails on the Weekly candle since 3-4 weeks.Last week it made a Hammer.So the downtrend may have been temporarily halted for the time being.5328 is the Stoploss on Weekly Closing  basis for any longs.

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On daily charts 5517.55 has to be broken on the upside.
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BANKNIFTY (10722.65)

Bank Nifty will face resistance at the triangle Apex of 11030.

DIVIS LAB(749.95)

Buy Divis Lab above 754 with a Stoploss of 722.This chart I had recommended earlier also.

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INDIAN STOCK MARKET VIEW FOR 26 TH MAY

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(5348.95)

There is nothing much to say about Nifty except that the trend is “DOWN”.That is what I had been saying since last few days—–Do Not Buck The Trend.Thursday being settlement for Futures,Trade with Caution.

BANKNIFTY (10355.80)

Bank Nifty is forming a downward pennant.A break of 10339 is bearish.

ORACLE FINANCIALS (2197.35)

Aggressive Risk Takers can look to go long in Ofss which is forming a flag.Buy only if Market is positive.Stoploss is 2124.9


INDIAN STOCK MARKET VIEW FOR 25 Th MAY

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 (5394.85)

Nifty has formed a spinning top.Spinning top is a Candlestick pattern,where the body of the candle is small.It implies that the market is losing it’s sense of direction & momentum.Watch for pullback rallies,but keep in mind as I keep saying the TREND is still down.

CNX INFRA (2908.6)

CNX Infra is forming an Expanding Triangle.Expanding triangles are erratic & difficult to Play.So avoid Infra Stocks till clear trend emerges.

CNX IT (6557.6)

This chart I had covered some time back.See the Neckline of 6436.If it breaks & closes below 6436 for 2 days expect massive fall.If it takes support & goes up it will test the right shoulder.Wait & watch.

TORRENT PHARMA (636)

Torrent Pharma is going up in Creeper mode despite the market going downwards to sideways.One can go long on corrections with stops of 610 or 595 depending on your comfort level.


INDIAN MARKET VIEW MAY 24 TH

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(5386.55)

As I said,”trend is down”, so Always try to trade in the direction of the trend.Stand aside,if you feel market may go the other way of Trend.So right now the trend is bearish.

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BANK NIFTY (10368.25)

Bank Nifty could not close above 10674 & broke 10524 as mentioned yesterday ,so crashed.Trend is still bearish.

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DIVIS LAB (744.25)

If the Market makes a pull back Rally,buy this stock with a stop of 699.5