Technical updates on Nifty and IDFC

Nifty

Nifty has sustained above 5970 for two consecutive days. Next expected target is 6100. Some traders are buying put based on anticipation of profit booking , weakening of rupee and other reasons. Let us agree to the fact that market can remain irrational for more than expected time. Trade based on your trading method and most important thing is you should know what you are doing and why you are doing??

IDFC

IDFC has breached channel resistance. Continuation of trend is likely to happen.

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	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	6038

Thought for the day

You will never be happy if you continue to search for what happiness consists of. You will never live if you are looking for the meaning of life.

Technical updates on Bank Nifty

Bank Nifty weekly chart

Bank Nifty has managed to hold trend line support. As long as it holds this level medium term down trend cannot be expected. Stochastics in weekly chart is indicating a possible up trend. We have bought 11700 call option Rs.205. 

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.

Technical updates on Nifty and Kotak Bank

 

Nifty

From last one week Nifty has been forming gap up/gap down open because of which it has become difficult to predict trend of the market. However in today's trading session Nifty has breached resistance at 5900 which is a bullish sign. As long as Nifty is above 5820 trend will be positive. 

Kotak Bank

Kotak Bank has made sharp bounce back from support at Rs.682. Now it has reached a major resistance level. Break out from this level will lead to further upside.

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	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5948

Thought for the day

When we long for life without difficulties, remind us that oaks grow strong in contrary winds and diamonds are made under pressure.

Technical update on Bank Nifty

Bank Nifty

This is the weekly chart of Bank Nifty. You can see that it is trading at a major support level which is at 11300. If it closes above 11650 then short term uptrend will start. Suppose it closes below this trend line support on weekly basis then free fall is expected. Lets see!

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	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5898

 

Thought for the day

The difference between school and life? In school, you’re taught a lesson and then given a test. In life,  you’re given a test that teaches you a lesson.

Technical updates on Nifty and Rel Infra

Nifty

Nifty is stuck within a range of 130 points. It is facing resistance at 5900 and support at 5770. Breakout from this region will take Nifty to 6000 or 5700. . RSI is showing bearish divergence so there are possibility of sustainable down trend. We have continued to hold short.

REL Infra

REL Infra is facing resistance at Rs.370. Break out from this level will lead to continuation of uptrend.

Commodity update

Crude oil is currently trading at Rs.6254. If it closes below Rs.6260 then we will short Crude Oil.

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	UP
Initiation Date	01-07-13
Initiated at	5898
High since change	5898

 

Thought for the day

Events come and go, they perish like flowers. But every event and every person contains some honey. Like a bee, just take the honey out of every event and every moment and move on. Be like a busy bee and be in the being. - Sri Sri Ravishankar