INDIAN STOCK MARKET VIEW FOR FEBRUARY 29, 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        5,375.50     + 94.30  + 1.79 %

Nifty went below 5350 yesterday which was my “Projected Level”.Today it has made a Harami Pattern, which may pause the current downtrend for the moment.But a break below 5268 will be bearish.Also Nifty went below the pink line marked in the chart which means it has made a first lower low.We will observe if it makes a lower high.A break above 5630 to the upside will be bullish.


 

INDIAN STOCK MARKET VIEW FOR FEBRUARY 27, 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   5,429.30    -54.00    -0.98 %

 

Last week I said that a break below the rising channel may take NIFTY to 5350 levels.As you can see the chart, that Nifty did break the channel and moving towards 5370 ( 20 dma) and 5350 ( My projected level).Only above 5630, markets will be bullish.

INDIAN STOCK MARKET VIEW FOR FEBRUARY 23, 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          5,505.35          -101.80            -1.82 %

Nifty after moving in a channel for more than 30 trading seesions broke below the channel.If it stays below the channel(5539) for the next seesion, we may see levels of 5350.Tomorrow’s lower level of the channel is 5539.

Nifty Daily Chart

 

INDIAN STOCK MARKET VIEW FOR FEBRUARY 21, 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   5,564.30  + 42.35   + 0.77 %

Weekly Nifty shows that it closed above the weekly Doji.So the trend is RESOLVED in favour of the bulls.It does not mean that you go all out and buy tomorrow at the morning bell, but it suggests that on corrections one can buy since the overall trend is UP.

WEEKLY NIFTY

 

INDIAN STOCK MARKET VIEW FOR FEBRUARY 16, 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   5,531.95   + 115.90    + 2.14 %

Breakout !!!

Nifty today broke out of sideways pattern with a breakout gap, see chart below.The rising channel as I had been mentioning has been like a Roadmap to the future.Tomorrow’s levels of the Upper and Lower channel are 5604 and 5433.Nifty if it stays above 5559 will touch 5687.

Today’s gap area will act as a support in the coming days i.e 5428 – 5460 level.

NIFTY DAILY CHART


 

INDIAN STOCK MARKET VIEW FOR FEBRUARY 14, 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  5,390.20  + 8.60  + 0.16 %

Nifty as I said yesterday is moving sideways. The lower channel level for today was 5349, and Nifty made a low of 5351 and went to touch a high of 5421.Today is an inside day .So be careful for high volatility in the coming days.The Upper channel level for tomorrow is 5567 and Lower level is 5379.Lower break of channel can lead to some correction.

Nifty Daily

INDIAN STOCK MARKET VIEW FOR FEBRUARY 13, 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    5,381.60      -30.75      -0.57 %

CORRECTION TIME ??? ( Read the Weekly Chart given below the daily chart)

As I said that markets may go sideways since the prices had run far from the 20 dma, you can see in the daily chart the prices moving in the sideways channel marked by pink colour.Overall trend is contained in the upsloping yellow channel.The upper and lower levels of the yellow channel for tomorrow are 5522 and 5349.

NIFTY DAILY

WEEKLY NIFTY

The weekly Nifty shows that the Nifty chart after beaking from the down sloping channel, has formed a DOJI candle pattern.Doji pattern means the market is at the cross roads in a bull bear struggle.Also volumes are high.Market is indecisive. So I am expecting a sideways to downward correction.But do not short the market at the fall of the Hat.Stand aside.

WEEKLY CHART