INDIAN STOCK MARKET VIEW FOR December 01, 2011

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.

S&P CNX NIFTY    4,832.05     + 26.95    + 0.56 %

With volumes picking up in Nifty today, I feel that the target of 4915 which I had given two days back looks probable.Ride the trend till a reversal appears.Stoploss for longs is 4639.

 

INDIAN STOCK MARKET VIEW FOR NOVEMBER 29, 2011

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.

S&P CNX NIFTY   (4,851.30  )       +141.25        +3.00 %

A sustained move above 4783 may arrest the downtrend, that is what I said and Nifty gained by 141 points. Stoploss for any long positions is 4639.Volumes are decreasing as the Market is going up, so for the time being I will consider it as a pullback rally.See decrease in volumes shown by pink line in chart.The gap area of 4919.45 will be the next target as well as the resistance area.

 

 

INDIAN STOCK MARKET VIEW FOR NOVEMBER 28 , 2011

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   (4,710.05 )           -46.40               -0.98 %

As I had said that Nifty had shown potential weakness and would break 4720 and touching 4500 i.e the lower trendline was a high probability.The coming days will reinforce this view.Right now we have made an inside day and a sustained close above 4783 may halt the downtrend.A close below 4639 will take Nifty to the lower trendline of 4500.Stay tuned.

 

INDIAN STOCK MARKET VIEW FOR NOVEMBER 23, 2011

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.

S&P CNX NIFTY     4,812.35          +  34.00        + 0.71 %

Nifty made an inside day which in Japanese candlestick pattern is called “Harami Pattern” which means pregnant.The green bar today is engulfed between the previous red bar i.e the high and low of today’s bar are between the open and close of yesterday’s candlestick.

The implication of this pattern is that the market may pause it’s downtrend provided it does not break 4764.80 If 4764.80 holds we may see sideways consolidation for next few sessions.

 

 

INDIAN STOCK MARKET VIEW FOR NOVEMBER 22, 2011

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          ( 4,778.35 )         -127.45         -2.60 %

As I said yesterday NIFTY is very weak and we will touch 4700-4500 immediately or after a rally “if at all ” it is there. But today’s market suggests that we may touch 4700-4500 range first.

Nifty daily Chart

 

 

INDIAN STOCK MARKET VIEW FOR NOVEMBER 21, 2011

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 (4905.80)     -28.95   -0.59 %

Nifty fell be 29 points but many stocks exhibited capitulation.Temporarily a pull back rally-“if at all”, may be in the offing because of the hammer exhibited on Friday.Any longs should be protected by a stop of 4837 on closing basis.

When markets are going up people don’t buy thinking markets will correct and “smart money” makes 95 % of the money.When markets fall people start buying at the drop of a hat and expect a pullback rally and what not and sell at the lowest price and lo the “smart money” makes money 95 % of the time.People do not follow the trend.

On daily chart one can see that Nifty did not touch the upper trend line shown by the red arrow exhibiting potential weakness.At other places marked by Pink arrows it touched the upper trend line.So after the pullback rally-” if at all”, I expect it to touch the lower trend line in the 4700-4500 area.

Nifty 3 mins Chart

NIFTY DAILY CHART