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.

BPCL and IDFC

BPCL

 

BPCL is trading below trend line support at Rs.320. Now onwards this level will act as resistance . As long  as it is below Rs.320 trend will be down.

IDFC

IDFC is trading with in a descending channel . Closing below trend line support will lead to further fall . 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5675

Nifty

Nifty is in down trend and I am expecting it to reach trend line support which could be the bottom of this down trend because at 5740 Nifty is not over sold . 5750 can act as resistance and if Nifty sustains above this level then we can notice 5800 . Nifty has formed 'doji' candle stick pattern which shows indecision in market.

Bajaj Auto

Bajaj Auto is trading within a ascending channel . Wait for break out.

LT

LT has been falling from some time . It has a major support around Rs.810 which is a low risk buying point.

Maruti

Maruti has closed below trend line support . Continuation of down 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	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5675

 

Thought for the day

 

There is only one corner of the universe you can be certain of improving, and that’s your own self .

Technical updates on Bharti

Bharti

Bharti has failed to sustain after breakout above resistance . It has just started down trend . Tomorrow we will buy put option.

Nifty Medium term trend

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

Thought for the day

The acquisition of knowledge doesn’t mean you’re growing.  Growing happens when what you know changes how you live.

Technical updates on Nifty and Rel Cap

Nifty

Nifty has closed below 200 DMA which is a bearish sign .More over MACD and RSI are negative so there are possibilities that  Nifty can reach 5800 - 5770 in short term . 

Rel Cap

Rel Cap has closed below trend line support . We have initiated put option . Market always moves in a trend 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.