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