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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NEXT POST ON MONDAY MAY 30

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

STOCK MARKET VIEW FOR MAY 23

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 CNX NIFTY (5486.35)

S&P CNX NIFTY is making a positive divergence.A positive divergence is made when price makes lower low & Oscillator makes a higher low.So targets of 5562.29 is a possibility.But mind,trend is down & any time Nifty breaks 5401, a new leg of downtrend starts.

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CNX BANK NIFTY (10664)

Bank Nifty has closed below the trendline resistance of the Rectangle i.e 10674.Since it is also making positive divergence ,target of  11007 looks possible if it closes above 10674.Below 10524 bearishness will prevail.

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COLGATE PALMOLIVE (905.9)

Colgate is moving in a channel.Buy between 880-886 to sell in the range of 925-944 with stop below 870.

STOCK MARKET VIEW FOR MAY 20

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 CNX NIFTY (5428.1)

As I said yesterday Nifty will make an “UPCLOSE” today & it did it.Today it has made a Narrowest Range of the last 7 days & an Inside Day too.It can break in either direction .I would prefer to take the downside trade if it breaks 5401.Incorrigible Bulls may try to take long positions if it breaks 5461.

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BANK NIFTY (10558.35)

Bank Nifty has made two consecutive closes below the trendline of 10661.A move below 10524 will make it bearish.

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CUMMINS INDIA ( 716.9)

Cummins India has made a triangle.A move above 728.5 is bullish.

NATCO PHARMA (278.05)

 I am responding this to a query from a friend.But since Market has not shown any inclination as of now to be bullish I can’t comment on it.

If one wants to have a position, after all, Natco Pharma chart is good &  can be bought with a stoploss of 264 since it is making a sideways movement on low volumes.

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STOCK MARKET VIEW FOR MAY 19 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(5420.6)

Nifty has also formed a Small bodied candle.So watch 5401,If it breaks & stays below 5401 for 2 hours or so it is bearish.If it takes support on 5401 it may make an “upclose” day.But do not buy but stand aside if Market shows strength since Market is in overall downtrend.

NSE BANK NIFTY (10599.05)

Bank Nifty has formed a small range day.If it stays below 10550 for 2 hours ,it will be bearish.It it does not break 10550,it may make a “up close ” day.But since trend is down,don’t buy till we get a clear Up Signal.

TATA STEEL (571.7)

Tata Steel has formed a Shoulder Head Shoulder Pattern .The neckline is at 571.A close below 571 for 2 days will be very bearish.If it takes support at 571,Tata Steel will test 640+.

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RELIANCE (901.85)

I had predicted some time back at 970 that Reliance will crash because it had formed a shoulder -head-shoulder reversal pattern & targets are below 913.Today it touched 901.

STOCK MARKET VIEW FOR MAY 18

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 (5438.95)

Nifty broke below the consolidation/distribution  Range as expected.Expect Targets of 5230-5177.Stops need to be above 5605.

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BANK NIFTY (10668.85)

Bank Nifty made a Shoulder Head Shoulder reversal pattern.It closed near the neckline of  10664.If Bank Nifty closes or maintains  below 10664,expect targets of 10169/10017 to the downside.Stop is 11213.5

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STOCK MARKET VIEW FOR MAY 17

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 (5499)

Nifty is moving in a range of 5605 & 5443.It will Trend once it breaks out on either side.Till then expect sideways movement.Another way to trade the ranges is to short at the upper resistance of 5605 & buy at the lower support of 5443 , with TIGHT STOPS.

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RAYMOND (340.5)

Raymond is making a series of Higher bottoms & higher tops & channelling between two parallel lines.Buy on corrections to lower channel for targets of upper channel Parallel.Stop Loss is 319.9

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STOCK MARKET VIEW FOR MAY 16

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 (5444.75)

As I said on 13 th May that Break below 5443 will lead to a free fall.But as we have seen Nifty did not break 5443 & moved to a High of 5605.Now Nifty is moving in a Range.A close above 5605 is bullish & a close below 5443 is bearish.

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BANKNIFTY (11020.95)

BankNifty is also moving in a range which you can see in the chart.A close above 11987 is bullish & a close below 10677 is bearish.

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SADBHAV ENGINEERING (135.55)

Sadbhav Engg is forming a consolidation pattern.Buy above 138 with a Stoploss of 125.9 for a Target of 150+

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DELTA CORP (89.7)

Delta Corp has formed  a pennant like pattern & an Inside Day.Buy above 93.25 with a StopLoss of 87.4 for a Target of 99 +

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STOCK MARKET VIEW FOR MAY 13

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 (5486.15)

Nifty broke down from flag formation.If 5443 is broken expect free fall.Targets are 5230-5177.

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Trade in the following counter only if market is bullish.

CHEVIOT COMPANY (341.1) BSE code 526817

If market recovers look for this company to go long in.

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STOCK MARKET VIEW FOR MAY 12

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 (5565.05)

Nifty has made NR7 day i.e the narrowest day in the last 7 days & an Inside Day.So be ready for a trend Day soon.Since Markets are in down trend I will take short trades only i.e if Nifty breaks 5500 which is the breakout point from the downward flag also.Stop loss is above 5600.

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NSE CNX IT (6650.45)

CNX IT has also made NR7 & Inside Day.Short term traders can go short on a break below 6568 with a stoploss of 6687.Long term players should wait for 6437 to be broken.

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NSE INFRASTRUCTURE INDEX (2923.1)

NSE Infra has also formed an Inside Day & NR7.Sell below 2900 with stoploss of 2940.1

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STOCK MARKET VIEW FOR 11 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 (5541.25)

Nifty is forming a bearish flag. A break below 5443 will be bearish.Aggressive traders can go short below 5500.Stoploss is above 5600.

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NSEBANK (11009.40)

NSE BANK NIFTY is not forming any clear pattern.11362 is resistance & 10702 is support.

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NSE IT INDEX(6596.75)

IT INDEX has formed a Bearish Shoulder head shoulder pattern.If it breaks the neckline at 6437,it will be very bearish.If it takes support at 6437,it will test the right shoulder at 7328.So Watch 6437

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NSE INFRA (2921)

NSEINFRA is forming a bearish Flag.A break below 2875 is bearish.

GUJARAT FLUOROCHEM (350.8)

GUJ Fluorochem has formed a consolidation triangle .Bullish above 392

HATHWAY CABLES (119.6)

Hathway Cables buy at current price with a stoploss of  109.8

U-FLEX(189.2)

U-Flex Buy above 197 & Sell below 179 with opposite one  being stoploss.

NEXT POST WILL BE ON 11 th MAY

STOCK MARKET VIEW FOR MAY 05 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 (5537.15)

Nifty has lost downward momentum for the time being as it has formed a “spinning top”.So we may see sideways to slightly upward movement.Mind it is not buying time.Close below 5503 is bearish continuation & resistance is at 5705.

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BANKNIFTY (10913)

Banknifty has also formed a spinning top.Expect sideways to slight upward bias.Not a buying time though.Close below 10797 is bearish continuation.Resistance area is 11348-11487.

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STOCK MARKET VIEW FOR MAY 4 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 (5565.25)

As I mentioned yesterday Nifty had formed a lower top-lower bottom pattern which is bearish & it crashed today by 136 points.Also the triangle pattern broke to the downside.The triangle target is approx 5435 which I mentioned in my comment to a query.(see comments).

Temporary supports exist at 5529-5560  &  5484-5496 levels.Beware of sharp pull backs to the upside.click on charts

BANK NIFTY (10898.3)

Reached it’s target to the downside & overshot it.

VADILAL Industries (175.95)

I had recommended this scrip some days back at 161 .It made a high of 194.

SINTEX

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.

SINTEX (177.45)

Sintex has made a double bottom & broken out .First minor hurdle is 191 & target of 205+looks possible.Stoploss below 159.