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

Axis Bank

Axis Bank weekly chart

Axis Bank has bounced back from support at Rs.785 . Medium term uptrend will start if closes above Rs.900 .

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5118

Thought for the day

Ever tried ? Ever failed ? No matter. Try Again. Fail again. Fail better !!