INDIAN SOCK MARKET VIEW FOR MAY 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  4,990.10  +4.45  +0.09 %

From where I left : since Nifty is away from it Moving averages, it may pause a bit, but any close below 4788 will be disastrous.So as you can see Nifty paused and did not break below 4788.We will wait for further indications from Nifty.In the graph you can see that Nifty touched 20 dma ( Yellow Line).50 dma is at 5086, so let us see whether Nifty will try to touch it.Overall trend is still bearish.

INDIAN SOCK MARKET VIEW FOR MAY 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 (4,906.05) +14.60  +0.30 %

As I mentioned earlier, trend is down so be careful about participating in any rallies.So as you can see that any rally lacks strength.As I mentioned earlier that since Nifty is away from it Moving averages, it may pause a bit, but any close below 4788 will be disastrous.

INDIAN STOCK MARKET VIEW FOR MAY 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 (4,891.45) + 21.25  + 0.44 %

Nifty as you can see from the chart is streched away from the moving averages, so may pause or try to rally a bit.But since the overall trend is down, be careful if you participate in any rally.The daily chart is given below

NIFTY DAILY CHART

The Nifty weekly chart has formed a hammer and it is also indicating that the down trend may pause temporarily.Below is the Nifty Weekly chart.

NIFTY WEEKLY CHART

INDIAN STOCK MARKET VIEW FOR MAY 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 (4,870.20 )  + 11.95  +0.25 %

Nifty, as I said is in general downtrend, so any upward break is only a scalping opportunity.So watch 4837 .If 4837 is not broken to the downside, Nifty may try to rally once again.If 4837 is broken, then there may be a steep fall.

INDIAN STOCK MARKET VIEW FOR MAY 17, 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 (4,858.25)  -84.55   -1.71 %

Nifty as I had predicted had been going down only.Today we made aNR7 day i.e the narrowest day in the last 7 days.If we break 4882.25 expect temporary upmoves and if we break 4837.05 expect downmoves.If 4882.05 is broken to the upside we will make a Morning star according to Japanese candlestick terminology.Mind the overall trend is down.So trade the upmove as a small rally or for scalping only.

INDIAN STOCK MARKET VIEW FOR MAY 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 (4,928.90)  -36.80  -0.74 %

Nifty as expected is falling.My final target is 4650 approx barring pull backs and minor supports at 4904 – 4881 ; 4768 – 4759 ; 4675 – 4646 levels.