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.

Technical updates on Infy , Bank Nifty and Gold

Infosys weekly chart

Infy is in uptrend from many weeks . It has reached a major resistance at Rs.3000. If it breaks this level then further rally can be expected.

Bank Nifty Monthly Chart

As per last month's close Bank Nifty has completed 78.6% retracement which is at 9900. Next target is 9000 . As long as Bank Nifty is below 10400 medium term trend will remain down . 

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.

 

Gold

Gold has reached an important resistance level. Those who want to consider long can do that only if it breaks trend line resistance.

Nifty medium term trend

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

Thought for the day

Life is a compromise of what your ego wants to do, what experience tells you to do, and what your nerves let you do.