INDIAN STOCK MARKET VIEW FOR AUGUST 1

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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.

A word of Caution !

While trading, do not take trades if market opens with a gap and stoplosses are far off or the opening price has already touched the targets.
After August 1 st post, Next Post will be on August 9.

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NIFTY (5482)

Nifty has made another outside Day Doji.But the trend is still negative.If Nifty is unable to close above 5521, bearishness remains intact.A break below 5453 will take it to 5343, the previous Pattern Gap ? which I had mentioned earlier.


BANK NIFTY (10893.65)

Bank Nifty has also gapped down .Bearishness prevails,and below 10758, look for 10576.Close above 10961 negates bearishness temporarily.

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Indian Stock Market View For July 29

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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 (5487.75)

Nifty broke the triangle and formed a Falling Gap Doji.The characteristic of this Japanese Candlestick Pattern is that the market is at cross roads since a Doji has formed.So if tomorrow Index gaps up it will form a morning star and may be temporarily bullish and if it breaks the low of the Doji decisively, it will go still down.Since the market has broken the triangle, right now I will prefer to keep a bearish view.Resistances are 5496/5558.Support is today’s low of 5475.

JSW STEEL(819.3)

Jsw Steel has broken out of a triangle and can be sold on upward corrections with 835.1 as stop loss.

UTV SOFTWARE (965.35)

As far as UTV Soft does not close below 870, it is bullish.Keep in mind 870 is far off from current price.

HEXAWARE (87.55)

I had recommended Hexaware at 80, two days back and today it touched 90.

Indian Stock Market View For July 28

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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 (5546.8)

Nifty by coiling is giving tough time to traders.I feel a triangle is forming.We may test 5496.Look for break of either 5496 to the downside or 5702 to the upside for a trend to be established.

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BANK NIFTY (11000.15)

Bank Nifty is again moving in a rectangle.Look for the break of upper or lower boundaries for trends to establish.Levels are 11455 to the upside or 10941 to the downside.

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Indian Stock Market View For July 27

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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 (5574.85)

Yesterday’s level which I had mentioned i.e 5702  & 5561,Nifty touched them on dot.Today look at the channel in which it is moving .Upper level is 5702.Break of 5702 will take it to 5741.Lower channel level is at 5553 .Also watch 5562 which is 50 dma.Break of 5553 will take it to 5532 and 5496.Break of 5496 will lead to free fall.

INDIAN STOCK MARKET VIEW JULY 26

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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 (5680.3)

Nifty crossed the first hurdle.Now if it crosses the red line, which is a parallel to the lower trendline,i.e 5695/5702,look to 5741.Support is at 5584/5561.

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REC(224)

REC looks like a textbook pattern -flag.Buy above 227 with a stop loss below 214.

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YES BANK (333.45)

Yes Bank Looks bullish on a close above 334.5 with a stop below 313.

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SUN PHARMA (525.65)

Sun Pharma is making my favourite pattern to buy on corrections.

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INDIAN STOCK MARKET VIEW FOR JULY 25

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical 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 ( 5633.95)

On Weekly charts Nifty is still moving inside the Triangle pattern and needs to cross and close above 5741 on weekly basis for Bullish breakout.

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Daily Nifty has resistance at 5654/5741 and support at 5556/5496.

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ALLAHABAD BANK (218.05)

These are the type of counters which I love to buy on corrections.Allahabad Bank looks good at 212/204 on corrections.

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HEXAWARE (80.9)

Another counter that looks good to be bought only on corrections is Hexaware.

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http://www.yourastrologer.wordpress.com