INDIAN STOCK MARKET VIEW FOR APRIL 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 (5,209.00)  (+18.40)  (+0.35 %)

Nifty has to breakout of the triangle to take a definite direction.Look for a break of either 5135 or 5380 with a close.Also volumes should pick up after the break.

 

INDIAN STOCK MARKET VIEW FOR APRIL 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 5,189.00 -13.00  -0.25 %

Nifty has closed below 5215, i.e the 200 dma for consecutive 2 days.So if it closes tomorrow also and preferably goes down by approx 3 % i.e upto 5065 or so in the coming days, Nifty will turn bearish.The said close will also break the triangle.But beware of false moves.Watch for increase in volume during the break.

KARNATAKA BANK

Something is cooking in this counter.A triangle has formed .Look for break above 98.4 to be bullish or break below 90.3 to be bearish.Watch for volumes to increase on breaks.

 

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NEXT POST WILL BE ON  27 th April

INDIAN STOCK MARKET VIEW FOR APRIL 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 (5,290.85 )  -41.55   -0.78 %

Nifty is moving to and fro inside the triangle.Without a breakout in either direction, it is difficult to play.Upper breakout level is 5379. A close above 5379 with volumes is bullish.Lower breakout level is 5216 ( 200 dma).A close below 5216 with volumes for 3 consecutive days will be bearish.

INDIAN STOCK MARKET VIEW FOR APRIL 20, 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  5,332.40 +32.40  +0.61 %

Nifty is most probably forming a launch pad to test 5379.A close above 5379 with volumes will take it to test 5500 and 5630.The 200 dma is at 5216 which will provide strong support.Further the break and close above 5379 with volumes will also result in the breakout of the triangle.

 

INDIAN STOCK MARKET VIEW FOR APRIL 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.

 

S&P CNX NIFTY  (5,289.70)  +63.50    +1.22 %

The 3-day consecutive close below 200 dma prevented from going short as Nifty closed below the 200 dma of 5213 only for a day.It is still moving in a triangle with the upper breakout point being 5379 and lower being 5135.

 

INDIAN STOCK MARKET VIEW FOR APRIL 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  (5,207.45)  -69.40   -1.32 %

With the IIp data confusion, market closed below the 200 day dma of 5212.If Nifty manages to close below 5212 on Monday and Tuesday both, then expect bearishness.Otherwise it will move sideways.Wait and watch.

INDIAN STOCK MARKET VIEW FOR APRIL 12, 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 (5,226.85)   -16.75   -0.32 %

No clear trend emerging !!! Market is currently taking support at 200 dma i.e at 5212. A break and close below 5135 or 3 day consecutive close below 5212 will be bearish.A break above the triangle i.e 5379 is bullish.

 

INDIAN STOCK MARKET VIEW FOR APRIL 10, 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   (5,234.40)  -88.50   -1.66 %

Don’t trade when a pattern is forming, goes the saying.Trade only on breakouts.And here we see that Markets are non-directional during the formation of a triangle pattern.Also the 200 dma is 5212.A break and close below 5135 or 3 day consecutive close below 5212 will be bearish.A break above the triangle i.e 5379 is bullish.

 

INDIAN STOCK MARKET VIEW FOR APRIL 04, 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   5,358.50   +40.60    +0.76 %

Nifty was resisted at the upper trendline of  the triangle.Those who jump the gun can go long on a break and close of 5378 with volumes.Patient traders need to wait for a break above 5500.On lower side the same 5208 holds.But to short below it, wait for a 3 day consecutive down close.

 

INDIAN STOCK MARKET VIEW FOR April 02, 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  (5,295.55 )  + 116.70   +2.25 %

The 3 -day consecutive close below rule helped one to avoid going short.As I had mentioned in my post meant for 29 th March that Nifty need to close below 5207 i.e the 200 dma for 2 more days and it closed below only for one more day, in all 2 days consecutively.So wait for it to close below 5208 for 3 consecutive days or close below by 2 -3 % i.e 100 to 150 points in 2-3 days if you want to go short.Longs can be taken above 5500 .