NIFTY & Indian Stock views

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5541.25)

Nifty is forming a bearish flag. A break below 5443 will be bearish.Aggressive traders can go short below 5500.Stoploss is above 5600.

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NSE IT INDEX(6596.75)

IT INDEX has formed a Bearish Shoulder head shoulder pattern.If it breaks the neckline at 6437,it will be very bearish.If it takes support at 6437,it will test the right shoulder at 7328.So Watch 6437

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GUJARAT FLUOROCHEM (350.8)

GUJ Fluorochem has formed a consolidation triangle .Bullish above 392

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HATHWAY CABLES (119.6)

Hathway Cables buy at current price with a stoploss of 109.8

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[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5565.05)

Nifty has made NR7 day i.e the narrowest day in the last 7 days & an Inside Day.So be ready for a trend Day soon.Since Markets are in down trend I will take short trades only i.e if Nifty breaks 5500 which is the breakout point from the downward flag also.Stop loss is above 5600.

For charts click http://devadasnayak.wordpress.com/

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5486.15)

Nifty broke down from flag formation.If 5443 is broken expect free fall.Targets are 5230-5177.

 

[devadas]

STOCK MARKET VIEW FOR MAY 16


DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5444.75)

As I said on 13 th May that Break below 5443 will lead to a free fall.But as we have seen Nifty did not break 5443 & moved to a High of 5605.Now Nifty is moving in a Range.A close above 5605 is bullish & a close below 5443 is bearish.

DELTA CORP (89.7)

Delta Corp has formed a pennant like pattern & an Inside Day.Buy above 93.25 with a StopLoss of 87.4 for a Target of 99 +

 

[devadas]

STOCK MARKET VIEW FOR MAY 17


DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5499)

Nifty is moving in a range of 5605 & 5443.It will Trend once it breaks out on either side.Till then expect sideways movement.Another way to trade the ranges is to short at the upper resistance of 5605 & buy at the lower support of 5443 , with TIGHT STOPS.

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5438.95)


Nifty broke below the consolidation/distribution Range as expected.Expect Targets of 5230-5177.Stops need to be above 5605.

 

[devadas]

Re: NIFTY & Indian Stock views May 19

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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(5420.6)

Nifty has also formed a Small bodied candle.So watch 5401,If it breaks & stays below 5401 for 2 hours or so it is bearish.If it takes support on 5401 it may make an upclose day.But do not buy but stand aside if Market shows strength since Market is in overall downtrend.

TATA STEEL (571.7)

Tata Steel has formed a Shoulder Head Shoulder Pattern .The neckline is at 571.A close below 571 for 2 days will be very bearish.If it takes support at 571,Tata Steel will test 640+.

RELIANCE (901.85)

I had predicted some time back at 970 that Reliance will crash because it had formed a shoulder -head-shoulder reversal pattern & targets are below 913.Today it touched 901.

 

[devadas]

Stock market view for may 20

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5428.1)

As I said yesterday Nifty will make an UPCLOSE today & it did it.Today it has made a Narrowest Range of the last 7 days & an Inside Day too.It can break in either direction .I would prefer to take the downside trade if it breaks 5401.Incorrigible Bulls may try to take long positions if it breaks 5461

CUMMINS INDIA ( 716.9)

Cummins India has made a triangle.A move above 728.5 is bullish.

 

[devadas]

Re: NIFTY & Indian Stock views MAY 23

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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 (5486.35)

S&P CNX NIFTY is making a positive divergence.A positive divergence is made when price makes lower low & Oscillator makes a higher low.So targets of 5562.29 is a possibility.But mind,trend is down & any time Nifty breaks 5401, a new leg of downtrend starts.

 

[devadas]

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application ofTechnical 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.

BANK NIFTY (10368.25)

Bank Nifty could not close above 10674 & broke 10524 as mentioned yesterday ,so crashed.Trend is still bearish.

DIVIS LAB (744.25)

If the Market makes a pull back Rally,buy this stock with a stop of 699.5