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.

Breakout !!

Nifty

Nifty has breached trend line resistance and closed around 5700 . Short term targets are 5750-5850. 

Nifty medium term trend

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

Technical updates on Nifty

Nifty daily chart

 

 

 

 

This is a self explanatory chart . The trend line which was acting as support is acting as resistance . If Nifty closes above this trend line resistance then uptrend will continue till 5750. Otherwise Nifty will once again reach 5500 . Lets see .

 

Nifty medium term trend

 

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

 

 

Thought for the day

 

 

Optimism is the faith that leads to achievement.Nothing can be done without hope and confidence.

 

 

Technical updates on Nifty

Nifty

Today Nifty made a low of 5486 which is a support region . From now on we can expect a short bounce back in Nifty. This bounce back could be lead by Banking sector . If Bank Nifty sustains above 9900 that will be the indication of continuation of uptrend. 

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

Nifty medium term trend

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

Thought for the day

I am not here to change the world.I am changing the world because I am here.

Technical updates on Nifty and Copper

Nifty Daily Chart

Nifty has breached trend line support at 5620 and closed at 5542 . Now next target is 5480 . Present market situation is not favorable . Depreciating rupee is a major negative factor for fall in market . Wait for some time before considering bottom fishing. 

Copper

Copper has breached and sustained resistance at Rs.427 . We have executed long at Rs.431.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5521

 

Thought for the day

You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You must do the thing you think you cannot do.

Technical updates on Bharti Airtel

Bharti

Bharti has reached an important resistance level. Possibility of down trend from this level is high . However for more confirmation it has to close below Rs.326.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5649

Thought for the day

Always show more kindness than you think is necessary because the receiver needs it more than you know.