Nifty medium term trend

Trend	Down
Initiation Date	11-11-13
Initiated at	6078
Low Since Change	5973

Nifty medium term down trend

Nifty medium term trend

Trend	Down
Initiation Date	11-11-13
Initiated at	6078
Low Since Change	6018

Nifty might reach 5900.

Downtrend continues

Nifty 

After closing below support at 6220 . Nifty has continued to fall further . Expected targets are 6050-6000 .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6348

Technical updates on Bank Nifty

Bank Nifty daily chart

Bank Nifty has formed raising wedge formation in daily chart . It has support around 10900 . If it breach this level then further fall is likely . Chart is posted in FB page .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6348

Technical updates on Nifty

Nifty has made a sharp decline in today's trading session . It has support at 6220 . One it closes below this level further fall can be expected .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6348

Breakout in Nifty

Nifty daily chart

Nifty has breached resistance at 6220 now it is likely to reach 6300 .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6269

Technical updates on Bank Nifty

Bank Nifty

Bank Nifty can face resistance at 11230 trade the break out.

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6252

Technical updates on Nifty

Nifty 

Nifty is facing resistance around 6230 . If it closes above this level then further rally can be expected

 

Nifty medium term trend

 

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6252

 

Technical updates on LT

LT 

LT is expected to be in uptrend as long as it is above Rs.900 . I am unable to upload chart due to technical reasons please visit FB page to view the chart.

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6218

Technical updates on Nifty

Nifty daily chart

Nifty has reached 6200 and whenever it reaches this level some people talk about new high . But according to me it is time to book profit and wait for reversal .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6218

Technical updates on Nifty

Nifty is facing resistance around 6150 . As long as it is below this level further rally cannot be expected . There are possibilities of Nifty falling to 5950 . Lets see .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6124

Nifty approaching resistance

Nifty daily chart

 

Nifty is approaching resistance around 6140 . Traders should start taking partial profit .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6124

Change in Medium term trend

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6033

Breakout !!

Nifty

Nifty has breached trend line resistance . Expected targets are 6100-6150-6200 .

Technical updates on Bank Nifty

Bank Nifty

Bank Nifty has support at 9800 . As long as this level holds there are possibilities of further rally .

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5700

Technical updates on Nifty

Nifty

Nifty is facing resistance around 5950 . If it closes above this level then rally will continue.

Technical updates on Nifty and Zinc

Nifty daily chart

 

 Nifty has made a sharp bounce back . Major resistance is at 5950 which could be the peak of this rally . However if this resistance is breached then further rally is possible .

Zinc

Zinc is consolidating in a narrow range . Wait for breakout to initiate position.

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5700

Thought for the day

Life is like an onion; you peel off one layer at a time and sometimes you weep.

Nifty daily chart

Nifty

Nifty has bounced back after testing trend line support . But as of now there are no indication of sustainable uptrend . Lets wait and watch .

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5700

Thought for the day

What you do every day matters more than what you do every once in a while.

Technical updates on Nifty

Nifty daily chart

Nifty has continued down trend . It has an intermediary support around 5700 . However it is likely to be breached as RSI is not over sold . 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5718

Thought for the day

Remember if people talk behind your back, it only means you are two steps ahead.

Technical updats on Crude Oil

Crude Oil daily chart

Crude Oil is trading at an important support level . Down trend will resume if it close below this level . We are holding short since 6600.

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5864

Thought for the day

Mighty plans of action can be undertaken only by equally mighty men. A man is mighty according to the amount of energy and concentration and tranquility of mind he can bring into his undertaking with confidence in himself and faith in the goal he has chosen to reach - Swami Chinmayananda

Medium term down trend started

 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
High Since Change	5873

Breakdown !!

Nifty

Nifty has failed to sustain above trend line resistance . Now it is likely to reach 5700 . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

Thought for the day

A well-developed sense of humor is the pole that adds balance to your steps as you walk the tightrope of life.

Updates on Nifty and LT

Nifty daily chart

Nifty has closed above trend line resistance for two consecutive days which is a bullish sign. Short term trend will remain positive as long as Nifty is above 5980.

Nifty weekly chart

Nifty has also breached trend line in weekly chart . There is every possibility that Nifty will reach 6200 provided Nifty sustains above trend line. 

LT

LT has been forming lower top lower bottom since many weeks . Now it has once again reached trend line resistance . If LT closes above this trend then further rally can be expected . 

Nifty medium term trend

 

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

 

Thought for the day

 

 Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive .

Technical updates on SBI

SBI daily chart

SBI is facing resistance at 50 DMA . There are possibilities of further fall in SBI. 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Technical updates on Nifty

Nifty daily chart

Nifty has continued to trade near important resistance . If it manages to break this trend line then only we can expect continuation of uptrend . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Technical updates on INR and Zinc

INR

INR has shown signs of recovery from last week . It is trading below the trend line support which means that there could be some more recovery in coming days .

Zinc

Similar to INR Zinc was unable to bounce back from support at Rs.119 so we are expecting further fall in Zinc . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Thought for the day

Coming together is a beginning. Keeping together is progress. Working together is success.

Technical updates on Nifty and Ambuja Cements

Nifty

Nifty has traded flat in today's trading session . But rally is not over yet it can reach 6000 in short term which could be the possible peak of this rally .

Ambuja Cement

Ambuja Cement has breached trend line resistance . Continuation of the rally is likely to happen.

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Thought for the day

Hammer breaks the glass but forges the steel .

Nifty medium term Trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5904

 

Nifty hourly chart

Nifty has reached a major trend line resistance in hourly chart . Above this level Nifty can continue the rally .

Nifty medium term trend

 

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5592

Medium term trend has turned positive . We are expecting at least 200 points rally from today's close

Technical updates on Nifty and Ranbaxy

Nifty daily chart

There was a blood bath on street because of rupee depreciation and because of the rumor that US has launched missiles to attack Syria . So Nifty  has once again fallen into descending channel . There are possibilities that Nifty will reach previous low at 5110.

Ranbaxy Weekly chart

Ranbaxy has reached a major resistance level at Rs.423 . As long as it is below this level continuation of uptrend cannot be expected.

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5118

Technical updates on Nifty

Nifty

Nifty has made a sharp bounce back from support at 5130 and now it has breached trend line resistance . If it manages to closes above 5590 then possibility of rallying another 100-200 points will be there. 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5118

 

Thought for the day

“Drop the idea of becoming someone, because you are already a masterpiece. You cannot be improved. You have only to come to it, to know it, to realize it.” ~ Osho

Axis Bank

Axis Bank weekly chart

Axis Bank has bounced back from support at Rs.785 . Medium term uptrend will start if closes above Rs.900 .

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5118

Thought for the day

Ever tried ? Ever failed ? No matter. Try Again. Fail again. Fail better !!

Technical updates on Nifty and INR

Nifty weekly chart

Nifty is trading below trennd line support . If it closes below this trend line on wweekly basis then further fall is expected . Target is 5000-4800.

INR Weekly chart

There is a breakout in Rupee chart which is bad news for economy . Short term targets are 70-73 . 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5118

Thought for the day

The majority of people permit relatives, friends, and the public at large to so influence them that they cannot live their own lives, because they fear criticism.

Technical update on Sun Pharma

Sun Pharma

Sun Pharma is forming lower top lower bottom formation in daily chart . It has bounced back from support at Rs.475 and  likely to reach Rs.535.

Technical updates on Nifty

Nifty daily chart

In yesterday's post I had mentioned about continuation of down trend and market has proved me wrong. Today Nifty has trapped the bears and once again closed above the support . Short term trend reversal will happen  if Nifty closes above 5435.

Nifty weekly chart

Nifty has formed 'hammer' candle stick pattern in weekly chart . 5400 is acting as strong support level for Nifty . Since tomorrow is the last trading day of this week market movement will be crucial to estimate possible direction .

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5268

Thought for the day

Religion gives you nothing new ; it only takes off obstacles and lets you see your self.

Breakdown !?

Nifty daily chart

In today's trading session Nifty has breached a long term trend line support . Now technically speaking there should be a major fall of 300-400 points . This is not the time to buy as there are greater possibilities of further fall . 

Nifty medium term trend

 

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5268

 

Thought for the day

The remedy for weakness is not brooding over it , but thinking of strength . Teach men of the strength that is already within them.

Technical updates on SBI and TCS

SBI weekly chart

SBI has support at 1600 and now it is trading at 1554 . If it closes below 1600 on weekly basis further fall is likely to happen . 

TCS weekly chart

TCS was trading within a ascending formation and before few weeks this channel was breached . Now  TCS is trading below support level . If it closes below this level on weekly basis further fall will happen . 

Medium term trend of Nifty still remains down . Reversal will be indicated in later stages .

Technical updates on Nifty

Nifty weekly chart

Nifty has multiple support at 5400 . So even though it made a low of 5360 it managed to bounce back . Support and resistance levels are fragile in nature . But they shuold be used for partial profit booking. At 5400 we cannot say that Nifty has bottomed out as there are greater possibilities of further fall.

USDINR

INR has been depreciating from many weeks . You can see in the above chart that it has formed a ascending channel . Expected target is around 65 !

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5360

 

Thought for the day

Curious that we spend more time congratulating people who have succeeded than encouraging people who have not.

Technical updates on Nifty and commodities

Nifty daily chart

Nifty is sliding along with rupee . However it has a support at 5480 . Once Nifty closes below this level it will reach 5300. So wait for closing below this level . Even if Nifty falls by 100 points on Monday short can be considered.

Crude Oil

Crude Oil has closed marginally above trend line resistance . If closes above resistance for one more trading session then uptrend will continue. 

Lead

Lead is approaching trend line resistance at Rs.144 . Book profit around this level and re enter once it closes above this level .

Zinc

Zinc has closed above trend line resistance . Tomorrow We are planning to consider long in Zinc .

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5486

Thought for the day

Study nature, love nature, stay close to nature. It will never fail you.