Nifty(4693.15) Markets staged big rally of 3.2% from the important support of 4530. Remember, one day does not make a trend and sustainability and follow through are hall marks of a trend. Shanghai composite has hit yet another new 52 week low this morning. Let us see how long the window dressing for Nifty lasts. […]
Nifty(4544): We have a positive divergence on the intraday charts and the 4530 support has proven its strength for the moment. The SGX nifty is pointing to a nice 1.5% pop at the open. Over the last several weeks there has been considerable amount price action around the 4720-30 zone. Watch for resistance to kick […]
Nifty(4613): The decline from Friday continued and Nifty pushed closer to our projected support of 4530. There was some erratic moves later in the day and markets saw a mild recovery and finished the day paring some of the losses. From the chart, we have not seen any divergence to indicate that the move is ending but […]
Heromotors seems to be having some sort of love for double tops. The chart below shows the recent chart pattern for this stock. Regulars of this blog would recall from here that ahead of Heromotor’s announcement of ending its tie-up with Honda there was a similar formation and the stock had a sharp drop to […]
Nifty(4746): Markets came within striking distance of breaking the 52 week low of 4639 but has seen a small bounce from 4673. So far it does not look like down draft has ended. May be the policy decision today will be the trigger for a sell off. The extreme short term technicals is a bit […]
Nifty(4763): In our last update we had expected Nifty to get a temporary reprieve from 4690-4720 zone and markets saw a temporary reprieve from 4728. It is likely that the this relief is over. Remember the 2 days Nifty hit 4640? Nifty bounced back and closed above 4700 levels. The lowest closing was 4706. Now, […]
Nifty(4760.60): It has taken just 3 sessions to retrace a little over 3/4ths of the move from 4640 to 5100. The probability that wave ii of wave 5 ended on Friday itself and the markets are progressing in wave iii of wave 5 is quite high. In simple terms, the markets are in the most powerful leg […]
Nifty(4760.60): It has taken just 3 sessions to retrace a little over 3/4ths of the move from 4640 to 5100. The probability that wave ii of wave 5 ended on Friday itself and the markets are progressing in wave iii of wave 5 is quite high. In simple terms, the markets are in the most powerful leg […]
Nifty(4866.70): Markets took eight sessions to rally from 4640 to 5099 but it has just taken 2 sessions to wipe out a little over 50% of those gains. A relief rally now to something under 5000 mark would mark wave ii of the wave 5 (see chart). More specifically, the ideal level for this relief […]
Nifty(4866.70): Markets took eight sessions to rally from 4640 to 5099 but it has just taken 2 sessions to wipe out a little over 50% of those gains. A relief rally now to something under 5000 mark would mark wave ii of the wave 5 (see chart). More specifically, the ideal level for this relief […]