Nifty

Nifty is likely to continue downtrend if it closes below 8400 . So wait for a close below 8400 and buy August 8300 put option for a target of 8200+.

Uptrend to continue

Nifty chart

After breakout from the descending channel Nifty has continued the uptrend . Hold long positions for the target of 8667 and above . 

Havells

Havells is taking support at 50 DMA . As long as it is above 50 DMA trend will be up . So medium term investors can buy and hold havells for a target of 315+

Downtrend below 8200

If Nifty closes below 8200 buy 8100 put option . Expected targets are 8100-8050-8000 and much below .

Uptrend resumed

Since nifty has closed above 8300 (spot) we can say that uptrend has started once again 8500 is the minimum expected target  . Stop loss close below 8100 . Buy 8400 call option .

Tata Motors

Tata Motors weekly chart

In the last week Tata Motors has closed above 20 WMA which is a bullish sign . Buy tata motors at cmp and hold as long as it is above Rs.540 target is around Rs. 600

Nifty

Nifty has bounced back from low levels and it has closed slightly above 20 WMA which is a bullish sign . If it closes above 8600 it has every potential to reach 8700-8800 and above . Wait for close above 8600 and then buy 8700 call option .

Nifty weekly chart

Nifty has breached channel support and after that there is a steep fall . The thickness of the channel is 600 points and since Nifty breached support at 8600 there are possibility that it will reach 8000 in coming days . Support level is at 8260 . If there is a sign of reversal in the trend it will be updated .

 

Nifty weekly chart

Nifty has continued uptrend after bouncing back from support level . It is likely to face resistance around 9000 . Once it closes above this level on weekly basis . It can form new high .

Havells

Havells is facing resistance around 280 where 20WMA is located . Wait for close above this level on weekly basis andthen buy aggressively . Sl will weekly close below MA .

 

Tata Sponge

Tata Sponge has bounced back and in the last week it has closed above 20 day moving average . Tata Sponge has started another phase of uptrend and it is likely to reach Rs. 820-850-880 in medium term . So buy Tata sponge at CMP and  if closes below Rs.700 on weekly basis then book loss ad exit the position .

CNX IT

CNX IT is moving between 12000 to 10700 . Now since it has reached 12000 there are chances that it will come down to support zone . It companies are expected to face selling pressure . Long position holders are advised to book profit . 

Bank Nifty

Bank Nifty is moving within a ascending channel . It has reached upper part of the channel and has formed inverted hammer which is a bearish sign . Correction is likely to happen .

Nifty is likely to correct in coming days lead by Banking sector . For trade initiation look for previous post . 

Nifty

Weekly chart of Nifty

In the last post it was written that Nifty will touch upper part of the channel and it has happened . 

What next ??

Nifty may face some resistance at current levels . If Nifty closes below 8700 then short , short , short for a target of 8600-8550-8500 and much below . Remember size of trade should be according to size of capital .

Nifty

In one of the previous posts it was mentioned that Nifty is likely to make a new high (http://karthik4bullsnbears.blogspot.in/2014/12/bounce-back-nifty-has-formed-hammer.html) and it did come true in todays trading session . Nifty is likely to continue the rally and it will reach upper part of the channel (marked in red color in chart ) which could be around 9000 . God bless all . 

ACC

ACC has breached trend line resistance and there are greater possibility that it will reach 1700 in medium term (6-12 months) . So watch out .

KPIT

KPIT Weekly chart

KPIT was trading between 145 - 190 for a  long period of time . But after breakout it has continued the uptrend . However now it is likely to face resistance around Rs.225 . Those who are holding KPIT should exit partially .