Nifty Uncategorized

Nifty channeling out

Nifty has been rising at the best pace for this year recently but in doing so it is channeling out in narrow formation. The formation is such that is converging at some point and now next week is the time when we could see a breakout from this pattern. Breakout from such formations generally gives …

Continue Reading
Stocks Tata Steel

Tata Steel yet to start a rally

Tata Steel has shown some fantastic momentum in recent years and now investors who have missed the move are waiting for a correction or feels the stock is overvalued. But lets talk about the stock technically again! In my last post on Tata Steel at “Still avoiding Metal Stocks? Not Tata Steel Now!!  i did …

Continue Reading
Nifty Bank

A bit more before a breakdown?

In recent past, Nifty has been quite volatile but Nifty Bank Index has shown some steady growth from 18900 to 19700 levels. One common characteristic of charts of both nifty and nifty bank is that both are channeling in downside direction and have closed exactly near to resistance line yesterday. Now what next?? Surely havent yet got any confirmation for more upside on Nifty but …

Continue Reading
Nifty

Nifty takes a Drifting Turn

Nifty Drifts successfully on the U-Turn to resume the unfinished up-move. Until yesterday, charts were smelling that we could witness a profit booking ahead of expiry and year end but i was proved wrong today. Just like a car gets off road during race and its not expected to be back on track, Nifty was …

Continue Reading
Stocks

Summer has arrived and Fan is on High Speed

Havells has been in strong consolidation zone of 260-310 since almost a year so but during this phase “inverted Head & Shoulder” pattern has emerged on weekly charts. Generally, target is  calculated from the neckline which in our case is at 309. So approximately target is arrived at 390 as the distance from low on the had to neckline …

Continue Reading
Nifty

Nifty ends one more day with negative biasness

Nifty traded in the strict range throughout the day and remained volatile between the range. But the close was with some bearish outline on the charts. Firstly, a Grave Stone Doji has been embarked on daily chart which indicates a bearish mood among traders who closed positions or markets to days low. Secondly, Nifty ended exactly near …

Continue Reading
Commodities Crude

Sell WTI Crude: tgt $35.40

Crude has been the most outperforming asset class this 2016 in terms of Rally but now somewhere it is nearing a small profit booking mode. As i initiated long call a way back at $32 with targets of $40 but now i would take a sell on the crude. Even Iran has intimated that they …

Continue Reading
Nifty

Closing above 7600 wins back confidence

Nifty finally breaks the trap line at 7580 and we closed above 7600 above first time in last two months. My stop loss 7600 on closing basis have been triggered today. Technically, still the road is not clear to take a fresh longs as many resistance points are hitching around same levels. While todays high had triggered Double bottom target …

Continue Reading
Nifty

Trap Line getting stronger on Nifty charts

Nifty traders are victim of a trap line near 7580, which has been engulfing bulls since January’16. Today to we made high exactly at around 7580 which is a coinciding resistance of many studies. On the other side even the 7600CE has been witnessing continuous call writing since the start of expiry. Currently indicators are flat on daily …

Continue Reading
Currency

66.80 tgt achieved on USDINR

On the 1st of March i initiated a sell call on USDINR on Hedge against Dollar at around 68.64 and today its target has been achieved. We have seen dollar index weakening which had its effect on our currency too. Rupee had been trading in the strict upper range today we are moving beyond the support to strengthen more. Attached chart is weekly …

Continue Reading