Rallis uptrend

Rallies is in uptrend. One can buy with stop of 155 and target of 195.

Nifty updates

Now the target of 6500 & 6650 can be achieved. SL of 6100 can be maintained,

Britannia Strong up trend.

Its going strong. Buy above 925 with SL 800.

Bata India reaction completed

After breakout above 1000 Bata has now reacted and given buying opportunity with SL of 1000. Inverted black hammer is confirmed since it traded above yesterday's candle

Reaction in Nifty can end with this Doji

After breaking out above 6350 today we see doji.

If Nifty trades in positive tomorrow we can see it making new lifetime high.

Resistance cleared with gap

As discussed earlier Nifty  had a resistance at 6350 which it cleared today with gap and on intraday Nifty took support at 6350. This now makes bullish breakout. This gives wave 3 target of 10k

Nifty might see some weakness due to Doji

Near earlier high of 6210 we have a doji seen. This can cause small correction if Nifty trades below 6200.

Nifty 5972 a significant support

5970 level will act as significant support in coming days.

Bata breakout

While TATA Steel is on the way to 430 levels. Bata has made new high with good volume support. Target of 1200 and 1300 can be achieved in this counter.

Third serious attempt at 6350 !

Nifty is now making third serious attempt to break 6350. As discussed earlier Nifty above this level it is giving signal of next bull phase. Considering that Nifty rallied on the expiry day it can be considered as trend decider.

However I will wait for it to break 6350 to become really bullish.

There are many stocks like Tata steel which are at good valuations even as index is nearing lifetime high

L&T resistance levels

On long term chart L&T has resistance at 1050 and 1400

Nifty in for correction

Considering candlestick pattern Nifty is in for the correction.

Tatasteel reversal

Inverted Head and Shoulder in Tatasteel
One can buy with target of 440.

NIFTY fourth attempt to go above 6350.

As counted earlier Nifty above 6400 clearly means new bull run upto 10k+.
This is 4th attempt by nifty to break 6350.

Lets wish Nifty best luck.

Nifty should see Bottom considering longterm trendline

As per long term trendline I expect nifty to take support at current level.
Percing line is seen at this level I think it is indication of support.


Update: 30 Aug

Now we can see morning star candlestick pattern. These are good indication of trend reversal.

Uptrend stocks in bear market

I was screening some of the stocks for general uptrend over longer period. To my surprise I could locate quite-a-few. These are one year charts with weekly candles. One can take long positions in this stocks on every fall.

Will NIFTY take support on the trend line

Nifty may take support at current level. Break out 5500 can take nifty to 5000 level.

Larsen at Resisance

Larsen is at resistance and 1460 will take time to break.

Bullish Harami in Nifty

This is my second try at the Candle stick pattern. There is bullish harami in Nifty.

This means that if Nifty trades above 5610 than one can expect break in the down trend and Nifty can move side or up for next 4~5 days.

MCX bottoming out

I have been keen on having MCX in my portfolio for long run (3~5yrs) and was waiting for the stock to find bottom.

Currently one can see that the down trend is arrested and it is making higher bottom. This is sign that it will now move sideway or reverse. I am looking to accumulate it with SL of 800.

Candlestick reversal in SBI

This is first time I am trying my hands on candlestick pattern. Here I have identified the piercing line in the SBI chart.

Prediction from this pattern means if tomorrow SBI trades above 2070 the downtrend has ended and further movement will be sideways or up for next 1~2 weeks.

Maruti Showing Bulish Signals

Maruti has hit new high with good volume support. Can be bought with SL of 1600.

Gold crash will Nifty gain. .

As posted earlier gold has crashed (But this crash is much more than predicted). As the gold was crashing Nifty started taking support.
Gold has crashed in second week .

Nifty has shown a recovery in the same second week of April. As posted earlier the next big rally is awaited in Nifty.

Lupin breakout

Lupin is showing buying interest and breakout can give the target of 700. Stoploss of 570 can be considered.

Gold double top

Just went through the gold chart and found that there is a double top in gold the first downward target is 28500 and next is 27000.

Long term trend is up but short term trend is down.

Is NIFTY now ready for wave 3 ?

As posted earlier Nifty is now nearing the lifetime high. Considering that many of world indices are making lifetime high there are high chances that NIFTY might also join the party.

If wave 3 is longer than the wave 1 then target nr 10k for Nifty would be possible. Clear indication of start of wave 3 will come only after Nifty closes above 6400.

Wockhardt breakout

Wockhardt Pharma have given good breakout with volume support. One can buy with the stoploss of 1800

L&T long term trendline at 1350

Longer term trendline support in L&T is at 1350 also nr 1300 there is a Fib support. If the support stays intact there are good chances of L&T to move to 1650 lev.

TCS Breakout

TCS showing the strength by breaking above 1400 with good volume support.
 One can buy on dips with SL of 1300.

TVS motors at bottom of channel

TVS motors is reversing from the bottom of the channel.

One can buy with stop loss of 38 with target of 52.

Trailing Stop Loss

There were few queries on what is Trailing Stop Loss? Trailing stop-loss is a stop-loss maintained by a trader which can be changed upwards.

I have plotted a typical Trailing stop-loss on the Reliance Chart .

 Once the stock is bought the stoploss is activated and is changed only upward as the stock goes up. The moment the price of stock crosses stoploss the stock is sold.

So Trailing StopLoss not just protect the trader from making big losses but also locks the profits. One can use various calculations to arrive at the technical support for the stock and change the stoploss just below the support lever.

MCX bottoming out

MCX is one stock that one can keep for much longer time. After recent run up. MCX was consolidating/correcting for a while. This correction seems to have ended. One can now turn bullish and buy MCX on dips with stoploss of 1350 on closing basis.

Trend line in NIFTY

There is mid term trend line in Nifty. It is since June 2012. Nifty can take support on this trend line at 5900 level. If this level is broken then correction up to 5400 can be expected.

Stop Loss order on Share Khan

I had earlier posted about the stoploss order on icicidirect . Here I am posting how the same can be put on the Sharekhan.

Here this is a sell order where Current market price is 376.45.
Trigger price I have kept at 369 - hence the order will come into existence only if price go below 369.

I have used limit price as 365 - means that when the price is reached 369 this order will go to market and it will read  "Sell 80 Raymonds with limit price of 365".

TCS at trendline

TCS is at good risk to return ratio. It might take support at 1300 and one can buy with Stop Loss of 1270

SAIL Bottoming out

SAIL has now bottomed out and one can buy with Stop Loss of 70 with target of 210 with 1~1.5 yrs of horizon.

L&T might take support at the trendline

L&T is at very good risk reward position one can buy with target of 1650 and stop loss of 1500.

Reliance might join the party

Looking at Reliance's chart it can be seen that if it closes above 880 its consolidation phase is over and one can buy with stop loss 700.

TVS Motors breakout

TVS Motors have given breakout with good volume support

Looking at its longer term chart one can buy with the target of 52. Stop Loss of 42 can be considered.