INDIAN STOCK MARKET VIEW FOR JUNE 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 5,146.05 -18.95  -0.37 %

Nifty as I had been mentioning should make 3 consecutive closes above 5150 and a 1 % rise above 5150 with volumes.5150 is the 200 dma.On Thursday, Nifty closed above 5150 but closed below it on Friday.So watch this level closely.

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INDIAN STOCK MARKET VIEW FOR JUNE 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  (5,165.00)  +44.45  +0.87 %

Nifty closed above the 200 dma.But it should close consecutively for 3 days and close 1 % above 5152.The immediate resistance is 5190 touched 3 days ago via a Bearish Engulfing candle.Consistent trading in 5260 area which is 1 % higher that the 200 dma, followed by increase in volume may take prices higher.

INDIAN STOCK MARKET VIEW FOR JUNE 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 AT AN IMPORTANT  JUNCTURE :-

Nifty is at an important juncture.Trend will be clear after the credit policy announcement by RBI.But let us see what the charts are showing.The daily Nifty is just below the 200 dma at 5152.A 1% close above 5152 and 3 days consecutive close above 5152 may change Nifty’s trend to bullish.But volumes have to accompany the rise.A failure to follow the above rules will make NIfty test the bottoms.

DAILY NIFTY

WEEKLY NIFTY

Weekly Nifty has formed a bullish engulfing pattern.But watch for a break and close above 200 dma on daily for bullishness.

INDIAN STOCK MARKET VIEW FOR JUNE 15, 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 5,054.75 -66.70  -1.30 %

I said 2 days back . “Watch 200 dma at 5152 and markets will react from there”.The same thing happened.Yesterday market formed a DOJI and reversed from 200 dma of 5152.Watch this level closely.

 

INDIAN STOCK MARKET VIEW FOR JUNE 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 (5,054.10)  -14.25   -0.28 %

Nifty reversed from the 200 dma of  5152. The 200 dma will be a formidable resistance in the days to come.Watch this level closely.

NIFTY VIEW FOR JUNE 07, 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 (4,997.10) + 133.80  +2.75 %

Nifty as I said in my last post, that a temporary bottom is formed and it will have to be confirmed in the coming days.Today’s rise confirms the bottom.Today volume has also picked up.So it may try to touch 50 dma at 5048 initially. For any longs stoploss is a close below 4770.This is the power of a “Spring”.

INDIAN STOCK MARKET VIEW FOR JUNE 05, 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 (4,848.15) + 6.55  +0.14 %

I said watch 4788.95 in my last post.Nifty tested 4788, went to a low of 4770 and closed at 4848.This is called a “Spring” in Wyckoff  terminology.Spring means the bears send ( Sell a quantity and test it) scouting parties , as in war, to test a known support .They aggressively sell below that level and if they meet with heavy buying, as happened in this case, they cover their shorts .The implication is that now 4770 is a good support level for the coming days.Only shortcoming is that the volume was not evident.Had heavy volumes accompanied a Spring, a short term bottom would have been “confirmed”.But in our case a “temporary” bottom is formed which will have to be confirmed in the coming days.