Technical updates on Nifty and Ambuja Cements

Nifty

Nifty has traded flat in today's trading session . But rally is not over yet it can reach 6000 in short term which could be the possible peak of this rally .

Ambuja Cement

Ambuja Cement has breached trend line resistance . Continuation of the rally is likely to happen.

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Thought for the day

Hammer breaks the glass but forges the steel .

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