INDIAN STOCK MARKET VIEW FOR FEBRUARY 01, 2012

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    5,199.25        +  111.95                + 2.20 %

Yesterday I said markets are dicey and watch the 5131 level closely.Markets made a turnaround and closed in the positive zone .So markets will have to break the top of the hanging man i.e 5212 given on 30 thJanuary. So if market remains bullish in the next few days, two important levels will be broken.1) Market will trade above 200 dma if it stays above 5131 and 2) If market breaks above 5250 it will break the top of the falling channel on WEEKLY basis.I am posting both the charts below.(My next post will be on 6 th February)

DAILY NIFTY

The red line is the 200 dma in the daily chart.

WEEKLY NIFTY

 

INDIAN STOCK MARKET VIEW FOR JANUARY 31, 2012

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    (5,087.30)   -117.40      -2.26 %

The Power of Hanging Man……..As I said yesterday that the top of the HangingMan will act as resistance. The market opened below the close of the Hanging Man and resulted in this fall.Also I asked to watch 5131 level for the next few days.Index fell below 5131 today and closed below it.So I feel Market is dicey.Watch closely.

 

INDIAN STOCK MARKET VIEW FOR JANUARY 30, 2012

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    ( 5,204.70  )    + 46.40        + 0.90 %

Nifty has crossed the 200 dma of 5132 comfortably.But watch this level closely i.e whether it can stay above it in the next 2-3 days.Daily Nifty has formed a Doji / Hanging man pattern,the top of which can act as resistance i.e 5211.55 .The trendline of 5250 -5260 also will act as a resistance.

INDIAN STOCK MARKET VIEW FOR JANUARY 25, 2012

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    5,127.35       + 81.10        + 1.61 %

As I said yesterday, market made a bid on 200 dma i.e 5131, but could not close above it.Watch this level closely.This is the battle line between the Bulls and the Bears.A 3- day close above 5131, may be bullish.

 

 

 

INDIAN STOCK MARKET VIEW FOR JANUARY 24, 2012

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   5,046.25   -2.35    -0.05 %

My internet was down so could not post yesterday.Nifty is Pausing to make a final assault on the 200 dma at 5131.Support exists at 4872.If it does not break 5131 in the coming days, markets will again turn bearish.

Nifty Daily Chart

INDIAN STOCK MARKET VIEW FOR JANUARY 19, 2012

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 4,955.80    -11.50    -0.23 %

Nifty is making a big green bar then for next 2-3 sessions consolidating the gains then again running up.Volumes are also picking up on the upmoves.4820 is 20 dma which will act as support for corrections.

INDIAN STOCK MARKET VIEW JANUARY 18, 2012

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 (4967.3)   + 93.40   +1.92 %

Nifty seems to be in an uptrend for the time being — Intermediate move.The intra 5 mins chart showed an Uptrend day with a continuous higher bottom higher top.At the end of the day it made a lower top which is marked RS i.e right shoulder.If Nifty breaks 4955, which is the neckline we may see small down move intraday.Suppport exists at 20 dma of 4806.

NIFTY DAILY CHART