Nifty and Tata Motors

Nifty Hourly Chart

The Breakout which we have noticed in the previous session has failed and Nifty has slipped below 4940, now trading at 4888. One interesting observation in the chart is RSI, which was oversold when nifty was at 4800 , is indicating a new sell signal and it is at the level of 40. So some more downside can be expected.

Short term traders can sell nifty below 4875 for a target of 4800 in coming days. Keep a strict stop loss above 4910.

Tata Motors

RSI on hourly chart has given sell signal. Sell Tata motors at CMP for an immediate target of Rs.670 stop loss above Rs.720

Nifty and BHEL

Nifty Hourly Chart

Nifty is indicating a breakout from the trend line in hourly chart. Indicator like RSI has given buy signal. So today's closing of Nifty at 4948 has confirmed short term uptrend.

Nifty Daily Chart

Nifty has bounced back from 4800. Nifty has managed to close above 4940. Now the target will be 5000-5150 and 5200.

BHEL

BHEL is consolidating in a narrow range. Indicators like MACD and Stochastics are showing the signs of  short term uptrend.Buy BHEL only if closes above 1791 target is up to 1900(level 1900 was acting as support earlier and now resistance.) in short term stop loss below 1750.

Nifty and M&M

Nifty Daily Chart

Nifty has managed to take support at 4800. Do not short untill market closes below 4800. Buy Nifty only above 4940 for a target of 5000-5100 keeping a stop loss of 4900.

M&M

After reaching a descending trend line M&M is consolidating in a narrow range of 30-40 points. Short M&M if it closes below Rs.700 target Rs.680-660 stop loss above 715.(short term call)

Nifty and LT

Nifty Daily Chart

Nifty is out of the consolidation and has tested the crucial level 4800 but managed to close above 4800.

If nifty closes below 4800 it can go down up to 4600. Now 4940 can act as resistance and any long position in Nifty should be taken only  above 5940 for a short term target of 5100-5150.

LT Weekly Chart

Parabolic SAR on weekly chart is showing sell signal. Other indicators like MACD and stochastics are indicating that trend could be down for medium term. Sell LT at CMP for a target of Rs.1500 stop loss 1575.(2-4 days)

(Above mentioned levels are spot levels. Targets are indicative, you can exit much earlier)

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.

Nifty and Maruti

 Nifty consolidation continues.......

Nifty trading in a narrow range of  200 points. Option traders please wait for the breakout on either side before buying call or put. Futures traders can take long at CMP keeping a strict stop loss at 4990 for a possible target of 5100-5150.

Maruti

Today Maruti was one of top losers among nifty stocks. It has taken support at the ascending trend line. But closing below Rs.1173will create selling pressure. Indicators like MACD, Stochastics are showing sell signal and tomorrow if it manages to reach Rs.1170 we will get sell signal from Parabolic SAR.Based on above observation sell Maruti below Rs.1173 for a short term target of Rs.1155-1120 stoplossclosing above Rs.1190

Niifty and M&M

No Signs of Recovery !?

Today  Nifty has closed at 5036 which is a new low. In earlier trading sessions, even though Nifty was below 5000 it managed to close at 5073. Closing at 5036 may indicate that bears are dominating the market. Momentum indicators like MACD, Stochastics and trend indicator Parabolic SAR are -ve and there is no signs of a pullback in the market. Those who bought call option based on the intuition(but not on evidence) will be under great loss. Buy Nifty only if it closes above 5200. Closing below 5490 will bring the market to 4800.

Nifty Intraday Levels : Buy above 5086 tgt 5105-5158

                                  Sell  below 4986 tgt 4967-4914

(Above mentioned are spot levels)

M&M

M&M has reached very important resistance level. The importance of this falling trend line is high as it is formed from November 2010 and M&M has tested this trend line many times but failed to breach it. Stochastics has reached overbought level and bearish engulfing pattern of candlestick shows that one can short M&M at current level for a target of Rs.720 keeping a stoploss above Rs.748.

Nifty Daily Chart

Nifty Daily Chart

As expected nifty is consolidating . It may continue consolidating for few trading sessions. However stochastics on daily chart has given early signs of recovery and MACD Histogram is forming a flat structure. At this point of time I can only say that the free fall which we have noticed from few days is temporarily arrested.

Nifty Intraday Call :

Buy Nifty above 5168 target 5180-5200-5220

Sell Nifty below 5109 target 5098-5070-5050

(above mentioned levels are spot prices. Buy/Sell after 10-15 mins of market opening)

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.

Nifty and BPCL

Nifty Daily Chart

Today Nifty made a high of 5198 and failed to cross 5200 which can act as immediate resistance. Apparently the expected relief rally seems to be completed today.

Market is expected to be range bound at least for few days and so the Nifty may test 5000 levels once again.Short term traders should avoid taking long position until nifty closes above 5200-5250 and use every uptrend to create short position.

Intraday Levels : Buy only above 5212 target 5236-5260

                          Sell only  below 5107 target 5086-5029

(Above mentioned levels are spot levels. Buy/sell after 10-15 mins of market opening)

BPCL

So far BPCL was extreamly bullish. But now indicators like RSI and Stochastics are showing early signs of weakness. In the chart you can see an ascending trend line which can act as immediate support and the next support is at Rs.650. Sell BPCL around Rs.685-690for a target of Rs.670-665-650 stop loss closing above Rs.710 (1 week)

Nifty Technical View

Nifty Weekly Chart

Nifty is trading below key support level and also below trend line. For very short term 5000 may act as a support and market may give a relief rally till 5150-5200. If market closes below 5000-4950 we may see levels of 4800 which is 50% retracement of the rally from the bottoms of 2008. Investors can start buying blue chip companies. Starting SIP in large cap funds is also advisable.

Nifty daily chart

Stochastics in Nifty daily chart shows that nifty is oversold. However moving average is still negative. As per my observation any trend(up or down) will be followed by consolidation. So I am expecting Nifty to consolidate between 5000-5200 for few days before taking any direction.

Intraday Traders can Buy Nifty only above 5164 for a target of 5202

Sell Nifty below 4982 for a target of 4944

(Don't trade in first 15 mins)

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.

Nifty and Bharti

NIFTY WEEKLY CHART

Yesterday Nifty has closed below 5200 level which indicates that bulls are dominated by bears. Nifty closed at 5118 and now the earlier support 5200 will act as strong resistance.

One more interesting observation is 50 DMA has turned red and it is dropping. In the above pic you can see that it gave a buy indication around 4000 and now it is showing sell indication. Now the question is ' Is this the beginning of a downtrend?' .

It would be too early to comment , but I can only say use every upside rally to exit long and initiate short positions.

Bharti

Currently Bharti is in short term downtrend but it has taken support at the above shown trend line. Wait for closing below trend line that is below Rs.396 and take short position for a target of Rs.380-370 stop loss closing above Rs.396.

 

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.

Nifty,LIC,Bharti

Nifty Weekly Chart

As expected nifty has reached 5200 today.Even though Nifty made a low of  5117 bulls are able to defend the previous bottom 5200 and our dear fundametalists are busy in talking about INDIA GROWTH STORY

Now the question is WHAT NEXT?

Nifty is above 5200 that doesn't mean that market has reached the bottom. You can see in the chart that stochatics is indicating a downward trend so there could be some more fall?!.

I am not asking you to take short position in nifty but wait for some time before taking any positions in Nifty.

LIC HOUSING FINANCE

Weekly Chart

A technical tool which is called as parabolic stop and reversal shows that so far LIC Hsg Fin was in uptrend. However in this week the uptrend seems to be over atleast for short term. MACD has shown sell signal. So sell LIC Hsg Fin below Rs.200 for a target of Rs.190-Rs.185 . Stoploss will be updated in the later stages.

Bharti

Bharti Daily Chart

So far Bharti was in perfect uptrend. Parabolic SAR and MACD on daily chart shows downtrend. Sell Bharti at CMP for a target of Rs.405-390-390 stoploss will be updated.

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.

Nifty and Axis Bank

Nifty Weekly Chart

Nifty has shown a break down. Tomorrow is the last trading session of this week. If nifty closes in   red  then the possibility of reaching 5200 will be very high. At this point of time Dow Jones is down 2.4% and Nasdaq 3% !!. Europe market is also down by 2-3% which indicates gap down open tomorrow.

Axis Bank

So far Axis Bank was not bearish unlike other Banking Companies. However Chart shows beginning of downtrend in Axis Bank. Sell signal by RSI, Stochastics, closing below 20 DMA are the indicators which shows that Axis Bank can come down to Rs.1250-1225 in near future. As per Parabolic SAR  if Axis Bank touches Rs.1277 then that gives further confirmation of down trend.

Sell Axis Bank for a target of Rs 1250-1225 stop loss above Rs.1320

FnO Traders can Sell:

Bharti only at Rs.410 target Rs.400-390

Today Bajaj Auto sell call is activated continue holding short position.

(Above mentioned levels are spot levels. Targets are indicative, you can exit much earlier. Stop loss will be communicated in later stages)

Always remember ' Your intuition has got limitation so use technical analysis to earn money in market'

Nifty Technical View

Nifty Weekly Chart

The range at which nifty is oscillating is gradually reducing.  Stochastics in weekly chart has shown a downward direction and it also shows that this could be the beginning of another dip towards 5200!. So use every rise to take short position keeping a target of 5200, Reversal above 5550.

FnO traders can short :

Bharti only at  408 for a target of 400-390

Axis bank only at 1273 for a target 1250-1225

Bajaj Auto only at 1420 for a target 1410-1390

(Above mentioned levels are spot levels. Targets are indicative, you can exit much earlier. Stop loss will be communicated in later stages)

Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.