Nifty Correction complete

Morning star doji indicates the completion of the correction in Nifty.

A very bullish reversal signal at the bottom of the down trend.

TataSteel Inverted head and shoulder

TataSteel has shown good change in trend signal of inverted head and shoulder. Target of 620 with Stop of 420 can be easily considered in a years time.

L&T Resistance becoming suppport

A very good bullish sign in L&T. Target 2100 StopLoss 1350

PTC breakout

Yesterday trade saw PTC rise with good volume it indicates the breakout. Target 115 Stoploss 93.

Wockhardt Trendline

Wockhardt can take support at the trendline near 730 levels. Continuing with earlier post on its uptrend.

L&T nearing crutial level

Expect L&T to take support at 1350-1400 level. It has acted as Resistance and is likely to act as support.

Breakout in Dabur

Dabur has given breakout and target of 220 can be given.

Wockhardt in up trend

There is good buying interest in wockhardt. Targets of 850 and then 950 can be given.

TVS motors bearish

TVS motors giving bearish signal with double top. The target of 110 is given for this stock.

Accumulation distribution indications

Reliance and L&T are being distributed while Tata steel seems to be accumulated hence RIL and L&T might not head up in next month or so. While Tata steel is expected to move further up.

Reliance double top

Reliance after breakout has given double top. Target for this double top is 950. Wait for it to correct and then one can buy it for longer term.

Nifty Correction likely to end

Nifty correction is likely to end if it trades above 7300 in the coming week.

Nifty will correct

Considering Doji in Nifty it will consolidate or correct.

Tatasteel Breakout

Tatasteel has given breakout and with good volume support.

Target of 530 can be achieved.

Will L&T continue its uptrend.

Considering the "long lower shadow" pattern in L&T. If it trades above 1269 then the uptrend will continue.

Reliance Industry Breakout

After long time Reliance has given a breakout. 1040 target can be achieved with this breakout.

SBI doing double bottom

Good reversal sign in SBI. Close above 1900 can take the stock to 2350.

Mahindra and Mahindra Breakout above consolidation

This stock has given a breakout above its long term consolidation. Stoploss of 950 and target of 1250 can be considered.

ABB Inverted head and shoulder

ABB : Inverted Head and Shoulder target 950

Nifty set for correction

Though longer term view stays bullish (As pointed out earlier). Currently Nifty have given Doji at the top of the uptrend. Next 6~7 days Nifty is expected to correct to 6300 levels.

L&T Levels

L&T has started a rally. . 

Well we need to watch for the 1400 levels where there will be some resistance. I do not expect it to resist for long. Once above 1400 we can see 1800 levels in this counter.

Nifty ready for 8500 . .

As waited for long and posted earlier many times decent break above resistance was awaited.

Yesterday's closer of lifetime high was with good volume. Also can be seen that OBV is pushing higher.

With this breakout I am considering first target of 8500 for nifty.

10000 is predicted earlier with mid term time line.

Nifty 5970~6000 support firming up

As already pointed in earlier posts 5970 is acting as good support for Nifty.
Now we have Hammers at bottom of the current correction.

Nifty Recovery held by Doji

Nifty recovery is held by Doji and closing above  6100 will be difficult for next week.

Tata Steel Bullish Indication

Tata steel has now shown that it has broken mid term down trend and will have a good bullish target of 700 considering the formation of Inverted head and shoulder. Final confirmation of Inverted head and shoulder will come after breaking above 450.

TVS breaks resistance

I had identified Long Term Resistance in TVS Motors. Now it seems that it has broken that resistance and has given bullish indications.

Nifty again above 5970

As posted earlier we can see good amount of support being seen at 5970 level and Nifty has maintained close above it.

This can now become very good stoploss for bullish positions.

Hammer in Nifty .

Hammer ends the current bearish correction. Will see some upward movement in next week.

Nifty - bearish (OBV acc/dist )

OBV and accumulation /distribution are not increasing with nifty this can be bearish signal as at higher levels selloff are with higher volumes.

L&T breakout target 1090.

Earlier Candle stick indicated the bullish signal. Now there is a breakout from the Inverted  Head & Shoulder giving target of 1090.


Doji Confirmation on Nifty

Doji confirmation in Nifty means that the corrective down trend has ended. As stated earlier SL of 6100 can be maintained

L&T - Engulfing Bullish Line

There is Engulfing bullish line in L&T and next 5~7 days it will see some rise.

TVS long term resistance.

TVS has reached long term resistance of 80.

Nifty update

As posted earlier about 5972 being support I was just checking Nifty chart and find that if it is broken there is a good chance of completion of Head and shoulder in Nifty. So if Nifty breaks below 5970 target of 5600 can be predicted.

BUT wait for it to break 5972 since it is a good support.

Will Nifty honour the trendline ?

There is a short term trend-line appearing in the Nifty chart. Will it honour it is to be seen.

If Nifty takes support at 6200 than it can be next leg can start and 6200 can act as StopLoss .