Monthly Archives: April 2011

#14 Nifty Update

NIFTY today was too volatile on the downside. It closed at 5749 at our first support and made low at 5700 which was my second support. NIFTY is forming a pennant pattern, breakout of which will bring the uptrend. Breakout of formation is expected at 5900 which will decide the bull run. It made a high at 5805 which was also a resistance point. Daily RSI and Stochastic are below 50 indicating a bear run for the index. IF on the down side 5730 level is broken on closing basis then we might see down trend but current formation suggests the uptrend. Today Reliance was the stock which brought up the market from the day’s low. Yet the strategy will be buy NIFTY on dips with the stop loss of 5700.

NIFTY levels for 2cd May:

S-5731                   R-5788
S-5700                   R-5822
S-5674                   R-5900

S-5634                   R-5937

#13 Nifty Update

NIFTY closed in red as expected due to the Expiry pressure. NIFTY closed at 5785 near my second support of 5790. NIFTY daily RSI has crossed 50 from upside signaling a bear strength while stochastic and MACD is also signaling a bear strength. Prices closed below 5/10 DEMA and exactly at 20 DEMA average. Two consecutive bullish wide candles are strengthening down trend. Even monthly and weekly Indicators have started showing weakness for the Index. NIFTY daily chart is forming a upper wedge formation. NIFTY on overall has started looking weak.
NIFTY levels for 29th April:
S-5750   R-5819
S-5700   R-5856
S-5689   R-5907
S- 5633  R-5937

#4 Stock Update: BANKBARODA

Buy BankBaroda at current levels..It is out with good results and a dragonfly doji is detected on the graph with Positive indications frm daily and monthly charts…T-1045 SL-980

#12 Nifty Update

NIFTY was weak today and closed at 5833. NIFTY is not able to break the upper level nor the down side level. Tomorrow being expiry it is expected to be around 5774-5850. We have noticed a one major thing that quarter results are not much affecting Index this time around. Daily Stochastics, RSI and MACD has started showing weakens for the Index. Today NIFTY has created a big Bearish belt hold candle with closing below 5 and 10 day EMA which is a bearish sign for short term. On the other side weekly graph has created Spin body with mixed reactions from indicators and monthly graph still showing strength for the market with Doji confirmation. So to conclude, you might see some short term downside but over NIFTY seems bullish. Buy NIFTY on dips for long term.
NIFTY levels for 28th April:
S-5807   R-5855
S-5790   R-5892
S-5756   R-5908
S-5730   R-5737

#11 Nifty Update

NIFTY was a bit volatile like KKR’s form in IPL this year i.e., opening was bad start but then recovered gradually to end almost flat. Market mover was SBIN with almost 40 rupees down but at end it was few bugs in green. There were no major negative vibes in CNBC news wire today but it was a expected correction before this expiry.  NIFTY today tested our both extreme levels 5776 and 5937 but couldn’t break through anyone. NIFTY daily indicators are yet mixed bag with few indicating bull run while few are on the bearish side. NIFTY cash has created a Dragon Fly doji on daily chart indicating a strength for bull run. On intra day basis NIFTY had pierced the level of 5 and 10 DEMA but again it bounced back and closed way above both the levels. Even on Weekly and Monthly chart we are seeing a Spin Body which also indicates that the market could move on either side. Tomorrow look out for the results of Abott India, Wipro, Patni and Exide to name few. NIFTY yet to decide the direction of its run.
NIFTY levels for 27th April:
S-5856      R-5923
S-5835      R-5940
S-5804      R-5986
S-5785      R-6010

#1 Stock Update: AUROPHARMA

Risky Investors buy AUROPHARMA at CMP of 197 with a SL of 191 for short term. It will give a symmetric triangle breakout on either side…Volumes are low at present indicating a major charasteristic of symmetric formation. RSI is flat at 40 and MACD is also flat at 0 line…so volume breakout on either side will decide the trend…bt fundamentally pharma sector will be it is expected to breakout on uper side

#10 Nifty Update

NIFTY today was as boring as the movie Dum maro Dum… “Market mein Kucch Dum nahi tha”… It Closed at 5874 with not much momentum on either side. Intraday players of Index option might have faced difficulty in making Intra-Profit. Nifty is still testing the level of 5937 on the upper side.  Today we had the result of Maruti, Sterlite ad Sesa Goa to name few but none had its effect on the market. Daily technical indicators are mixed bags with some showing bearish sign while some bullish but on strong note Weekly and Monthly Indicators are still strong for Bull Run. 50 DEMA has just touched 100 DEMA from below and if it crosses it then you may confirm the bull Run. SBIN and INFOSYS looks good for a weekly purchase. Few of the results to look out tomorrow are ACC, Aventis Pharma, Patni and Wipro. Market seems to be in the Range of 5750-5937 till this expiry.
NIFTY levels for 26th April:
S-5847       R-5907
S-5829       R-5937
S-5800       R-5985
S-5776       R-6015

#9 Nifty Update

NIFTY had third consecutive bull run.  NIFTY tested  the level of 5900 and up but cldnt stay up for much of its time. Today we had 2 important results TCS and RIL. TCS results were given during the market but it was mixed bag so investors didn’t react much actively causing TCS almost down by Rs.50 from its life time high made during the day. Today it was a  silent day for NIFTY as we didn’t have that much volatility during the day. It opened positive on the basis of SGX nifty and other markets bull run last night. But in spite of its 3rd bull run yet it has to cross 5937 level to confirm the bull run. RIL result was announced late this eve around 6pm. It was also a mixed bag so we might see some downfall in RIL and NIFTY on Monday. All the Daily Indiacators are now showing some path for the Bull run.
NIFTY levels for 25th april are:
S-5857                  R-5908
S-5833                  R-5937
S-5792                  R-5982
S-5735                  R-6015