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.

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.