INDIAN STOCK MARKET VIEW FOR JULY 01

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 (5647.40)

Nifty crossed the previous top (see chart) & is on a Roller coaster ride.So having put in a higher top,I am looking for a higher bottom to initiate longs in Nifty.

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As for individual scrips recommended like United Breweries,Hdfc bank,Larsen,Jubilant foods,Colgate etc they have performed superbly.

Yesterday’s mystery scrip was COLGATE PALMOLIVE  which I had previously recommended twice or thrice.

TISCO (610.25)

Longs can be initiated in Tisco on Corrections with a stoploss of 577.9

INDIAN STOCK MARKET VIEW FOR JUNE 30

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 (5600.45)

Nifty crossed the DOJI .But is facing resistance at 5605.Buying can be done if it corrects & makes a bottom higher than 5195 ,which is the previous bottom.If Nifty does so,it will make a inverted Shoulder Head Shoulder pattern which will be bullish after the break of neckline.

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GUESS THE STOCK !!!

Below is the chart of a scrip I had recommended 2-3 times previously in the blog.Guess it .I will tell the answer tomorrow.A clue is it shot up today i.e June 29 th.

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JUBILANT FOODS (901.8) ONLY FOR BRAVEHEARTS !!

One can go long with a stoploss of 768.5

INDIAN STOCK MARKET VIEW FOR JUNE 29

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 (5545.3)

Nifty took support at daily 50 ema which is at 5501 during the intra day dip.A doji is formed today.Is it exhausted ?A doji indicates a temporary pause in the uptrend.A close above the Doji will be bullish.

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ICICI BANK (1083.3)

Icici Bank has formed a rectangle.There is resistance at 1096.If market is weak shorts can be initiated with 1105 as stoploss.If it reacts from 1096,it may test 1003.If it closes above 1096,then it is bullish.

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L & T (1800.9)

L& T has broken out of consolidation & if Market is bullish ,will touch 1900 before long.If you take a positionkeep stoploss at your comfort level.

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INDIAN STOCK MARKET VIEW FOR JUNE 28

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 (5526.6)

I will consider Nifty as bullish if it makes a Higher bottom & higher top.Till then I will keep my fingers crossed.

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GAIL (457.4)

A close above 465 is bullish.Stoploss below 438.

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HDFC BANK (2416.15)

Hdfc Bank is forming a CUP & Handle pattern.A close above 2441.5 is bullish .Stoploss is below 2210.

AXIS BANK (1306.5)

Private Sector Banks look good .If markets are bullish ,Axis Bank looks good with a stoploss below 1200.

INDIAN STOCK MARKET VIEW FOR JUNE 27

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 (5471.25)

The “Harami cross” saw to it that the Nifty Paused.Now a gap has formed ( see yellow line) which in the coming days will tell whether it is a pattern gap or some type of breakaway gap.50 dma is at 5501 & 20 dma is at 5423.I feel Nifty may take resistance at 50 dma at 5501 & try to fill the gap which is at 5330-5343.If it does not test the Gap ,then it indicates there is strength.

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WEEKLY NIFTY

The weekly Nifty exactly behaved as I had presumed ( check last Monday’s Archive) that sometimes it breaks & comes back in .The Nifty Weekly broke the Triangle pattern but closed inside with a Hammer Pattern.So on Weekly basis if Nifty does not break the triangle,expect 5700+.  Otherwise it is bearish.

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BANK NIFTY (10854.5)

The Bank Nifty has formed a triangle pattern .Current resistance is at 10900.A break above 11056 will be bullish & below 10339 will be bearish.In the current situation don’t jump for bullish formations in haste as the trend is still bearish.

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CNX IT INDEX (6499.1)

Cnx It had broken from a Shoulder Head Shoulder Pattern .Now it is making a Pullback at the Neckline.Let us wait & watch.

NEXT POST 27 th MORNING

INDIAN STOCK MARKET 22 nd 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.

NIFTY (5275.85)

Nifty has formed an Inside Day.In Japanese candlestick parlance it is called a “Harami” pattern,which means “pregnant”.The Current pattern is a “Harami Cross”.So I expect Nifty to be range bound because the pattern implies Nifty may pause before a New Course.

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UNITED BREWERIES (501.45)

United breweries has formed a Rectangle .If it breaks 489 on closing basis it will be bearish.But if it holds 489 it will test 610.

INDIAN STOCK MARKET 21st 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.

NIFTY (5257.9)

Nifty broke below the Weekly Triangle pattern which I had given yesterday.On daily charts it has broken out of a continuing Shoulder Head Shoulder pattern which is bearish.Do not try bottom fishing .

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What happens if you do not keep a stoploss while trading  ?

The above is the chart of GTL which shed 62 % on Monday i.e June 20 th.

 

INDIAN STOCK MARKET VIEW FOR 20 TH 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

NIFTY (5366.4)

Nifty Weekly shows a Triangle formation.If the close on a weekly basis is below 5328 or 5177  expect more downside.If it reverses from the trendline support from these levels,expect 5605 & then 5945.

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CNX IT (6357.1)

This It Index I had mentioned many times earlier saying that it is forming a Shoulder Head Shoulder Pattern & a close below the Neckline will be very Bearsish.On Friday it closed below the Neckline of 6475 .If it remains below 6475 for the Next 2-3 days,expect bearishness in IT sector.The waiting period is to avoid whipsaws as sometimes the scrips/indices make a false breakout & then close back in.

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TCS (1109.2)

TCS was outperforming the Nifty.See the Trendline support at 1098.If it manages to take support at 1098 ( closing basis) then expect bullishness.Close below 1098 will be bearish.

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INDIAN STOCK MARKET VIEW FOR JUNE 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 (5396.75)

Nifty’s final test is if it can hold the bottom of 5328.The upper side resistances are 5500 (20 dma) & 5605.Watch these levels closely.

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CNX INFRA (2978.8)

CNX Infra is not falling like Nifty.A close above 3042 is bullish.Support is at 2947.

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INDIAN STOCK MARKET UPDATE JUNE 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

Many counters which I had recommended earlier (check archives ) like Divis Lab,Ofss,Cipla,Raymond etc have appreciated despite the Nifty going sideways to slightly downwards.

NIFTY (5447.5)

From where I left ,Nifty is still hovering between 5605 & 5328.Nifty has nearest resistance at 5507 which is the 20 dma.

BANK NIFTY (10626.25)

Bank Nifty inorder to be bullish should close above 11060 so that an inverted Shoulder Head Shoulder formation will be there.Nearest Resistance is 10792 which is 20 dma.

 I will again start recommending Stocks once the direction is clear.

 

NEXT UPDATE WILL BE ON JUNE 16 TH

INDIAN STOCK MARKET UPDATE JUNE 9

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 ( 5526.85)

A close above 5605 is bullish & below 5522 (20 dma) will temporarily be bearish.Also a NR7 & an Inside day has occured in Nifty ,so break above 5570 & below 5507 may lead to directional moves.So keep close watch on these levels.

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BIOCON (370.55)

Biocon has broken out of a consolidation Pattern.Buy above 376 with stoploss of 354 for targets of 410.

NEXT UPDATE JUNE 9

INDIAN STOCK MARKET VIEW FOR JUNE 7 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 (5532.05)

“So keep in mind 5573 is the resistance & 5516 is the support”.This was what I said yesterday & Market behaved accordingly.This holds good for June 7 th also.Aggressive traders can go long with a stoploss of 5328.Cautious traders can go long after Nifty closes above 5605 which is the neckline of Inverted Shoulder Head Shoulder Pattern.See chart

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RAYMOND (379.35)

This scrip I had recommended sometime back to go long.It has again broken out of Triangle Pattern today.

INDIAN STOCK MARKET VIEW FOR JUNE 6 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 (5516.75)

5573 is the 50 dma where I said distribution / consolidation may happen for next few days.Market is behaving as expected.5516 is the 20 dma .If market closes below 5516,it will be bearish for the time being.5328.7 is our final test of Market being bullish or bearish.If Market does not close below 5328,then it will have made a higher bottom & rally will ensue.So keep in mind 5573 is the resistance & 5516 is the support.

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BANK NIFTY(10782)

Bank Nifty if it closes above 11056 will be bullish.It will have made an inverted shoulder head shoulder in that case.Watch that level closely.

AKZO INDIA (919.85) prev ICI INDIA

Akzo looks bullish to me above 926.Buy with a reasonable stoploss at your comfort level.

 

 

INDIAN STOCK MARKET VIEW FOR JUNE 3 RD

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(5550.35)

As I said yetsreday,Nifty may move sideways near 50 dma,It moved near 50 dma of 5575.After 2-3 days of sideways movement,Nifty may break in some direction.If it does not break 5328 ,the recent bottom,then I will be bullish in Nifty.

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BANK NIFTY (10839.25)

Bank Nifty also took reistance at the 50 dma of 11011.If it manages to close above 50 dma ,bullishness will prevail in Bank Nifty.

 

 

INDIAN STOCK MARKET VIEW FOR JUNE 2 ND

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 (5592)

Nifty is has crossed 50 dma via a small body candlestick.I feel it may take resistance at this area as consolidation / distribution may happen for the next 2-3 days.50 dma is at 5575.Watch this level closely.

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