Market updates for 31/01/2013

SBI Weekly chart

SBI is consolidating around trend line resistance it has  formed a number of 'doji' , stochastics is over bought which indicates exhaustion of uptrend and  finally trend indicators in daily chart has indicated down trend. Based on above observations we are bearish in SBI from medium  term perspective.

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

 

Thought for the day

 

When we are focusing on fear , worry or hate it is not possible to experience happiness , enthusiasm or love.

Market updates for 30/01/2013

 

Nifty daily chart

 

 

 

Nifty has once again tested 6100 but unable to break this resistance level. Now it is likely to test 6030 (spot) and closing below this level could lead to short term reversal . Expected target if closes below 6030 could be 6000-5950.

 

ITC

 

 

 

Our subscribers had initiated long in ITC around Rs.284 and today we have booked profit around Rs.305 as it has reached previous peak. Breakout from this level will lead to further appriciation.

 

Sun Pharma

 

 

Sun Pharma has major support at Rs.700 and RSI is in oversold region. As long as it is above this level trend remains up. We are long in Sun Pharma. Lets see.

 

Nifty medium term trend 

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

 

 

Thought for the day

 

Give to your fellow what he needs to accomplish what life asked of him. Do not impose on another your idea of how he should best live. - Jean Clein

 

 

 

Tata Motors daily chart

 

 

 

In the recent times Tata Motors had lost heavily but now there are signs of reversal. Tata Motors tested its major support at Rs.284 and bounced back. Now it has filled this gap and traders can initiate long if it closes above Rs.310.

 

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

 

 

Thought for the day

 

When a man looks at the ocean, he can only see that part of it which comes within his range of vision; so it is with the truth.

 

Market updates for 28/01/2013

Nifty daily chart

Nifty is moving in a upward sloping channel. Since it has tested trend line support around Rs.6000 now it is likely to move towards 6100. we need breakout above 6100 for continuation of uptrend.

Bajaj Auto Weekly chart

Bajaj Auto was in down trend from past few weeks. Now this down trend has come to a halt as it has reached a major trend line support around Rs.2050. Bounce back from this level is quite likely. 

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

It is always the false that makes you suffer, the false desires and fears, the false values and ideas, the false relationships between people. Abandon the false and you are free of pain; truth makes happy — truth liberates. Nisargadatta Baba

Market updates for 25/01/2013

LT daily chart

LT has declared quarterly result today.  It has major support at Rs.1530 and resistance around Rs.1600. So we need break out from this range to take position.

Nifty monthly chart

Refer to the analysis of Nifty on 1/01/2013

http://karthik4bullsnbears.blogspot.in/2013/01/market-updates-for-02012013-sbi-daily.html

I had mentioned about possibility of Nifty facing resistance around 6100 and what is the recent high??  6101. Now  Nifty is in make or break situation either it has to break 6100 and reach 6200-6300 and may be much higher or it has to fall. So stay cautious and be patient.

What will be X factor for breakout or break down ?? Lets see

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

Happiness is within and the source is the centre of consciousness, love, and wisdom - Swami Rama