INDIAN STOCK MARKET VIEW FOR MARCH 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  (5,194.75)    -48.40   -0.92 %

The importance of 200 dma is visible since the last 5 days.Nifty is not letting it go.Today we again closed below it.Wait for two more days for Nifty to close below 5207(200 dma), before taking a bearish stance.

 

INDIAN STOCK MARKET VIEW FOR MARCH 28, 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    5,243.15     +58.90 + 1.14 %

3 day close below rule has kept the followers of my blog safe.I had said in my previous posts that a 3 day close below 5207 ( Red line), i.e the 200 dma should be taken as bearish.But as you can see that Nifty closed below 200 dma only for a day and reversed up.So again one has to wait for a 3 day close below for markets to confirm bearish.The bullish point is 5500 .Aggressive traders can keep a stop below 5207 and go long ( I don’t personally advocate this).

INDIAN STOCK MARKET VIEW FOR MARCH 26, 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       ( 5,278.20)       + 49.75        + 0.95 %

Nifty, the same points hold good as mentioned last week.Look for a 3 day close below 5202 ( 200 dma) for bearishness and a break and close above 5500 for bullishness.

 

INDIAN STOCK MARKET VIEW FOR MARCH 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      5,228.45       -136.50      -2.54 %

The test of 200 dma will be a very important event.Watch it closely.Any close below 200 dma at 5206 for 3 consecutive days will signal bearsihness.In the next few days it will be clear whether Nifty will be able to stay above ( bullish) or stay below ( bearish) 200 dma i.e 5206.

INDIAN STOCK MARKET VIEW FOR MARCH 22, 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  (5,364.95)     +  90.10   + 1.71 %

Nifty after taking support on 50 dma i.e 5257, has made a morningstar pattern and appreciated by 90 points.A break above 5500 will be bullish and a break below 5206 ( 200 dma) is bearish.Aggressive traders can go long with a stop of close below 5206.

 

INDIAN STOCK MARKET VIEW FOR MARCH 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.

S&P CNX NIFTY    5,317.90     -62.60       -1.16 %

The analysis of weekly chart after the presentation of budget shows that it is still above the falling channel. A close inside the channel for two consecutive weeks may be bearish marked by pink rectangle.The upper channel for this week is 5086.

The daily Nifty shows that a move above 5500 is bullish since it breaks the inverted shoulder head shoulder pattern. Supports exist at 5202, the 200 dma and 5171 the bottom of the head. A close below these levels for 2-3 consecutive days may be bearish.

INDIAN STOCK MARKET VIEW FOR MARCH 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         5,380.50         -83.40         -1.53 %

Watch 5500 and 5202 closely.Mostly the direction of the market will be clear by Monday evening.5202 is 200 dma and 5500 is the neckline of small Inverted Shoulder- Head-Shoulder pattern.If 200 dma is not broken, Markets will be bullish.