HI Testing

Market Is Under Cool Down Process: Nifty Renders –ve Divergence in 60 / 90 min time frame

Hi Subscriber,

Today I have presented 2 NIFTY charts one is daily and another is 60 min time frame.

In the first chart you can see NIFTY arrived exactly near the downward slopping trend line which is acting as resistance lvl since the current bear phase started. On the other hand second chart is of 60 min time frame and that also has touched upper area of the channel. The oscillator RSI in the first chart is now at his highest overbought area and to surpass or break above the slopping trend line it will require more steam. In that case a minor to sizable decline can not be ruled out. We need one correction before surpassing 5200 lvls. The 3 green snake in the second chart is now placed at 5011, 4997 and 4979 which is going to act as strong support area. By any means if nifty trades below 4978 then situation will be different and we will have to rethink about the next course.

Immediate support is at 5088, 5072 and 5056 for the day.

During last hour of the closing time NIFTY started showing cool down process along with swing reversal so we feel that today being expiry day there may be some selling pressure at the early hours and then drop may start. However, this is just an assumption so do not jump to go short. As there is no any signal to go short.

Intraday: Trader in this category can sell NIFTY below 5110 lvl and cover short at 5088 lvls. Buy above 5145 with SL of 5110 for the TGT of

Day time frame: It is in up trend. “Exit 100% LONG” Sell below 5045 Is breached or Risk taker can sell Feb future with SL of 5200 lvls. No fresh buying in this time frame.

Position trader medium term: Exit long and wait for the fresh call to generate.

Long term: Who started position at 4700 or below should exit 50% only and rest carry with SL of 4933 lvl.

NIFTY RANGE: 4950-5200 for immediate trend and 4700 – 5250 for positional trade.

CRUCIAL: SUPPORT 5040 & RESISTANCE 5200 and 5217.

APPROACH: SELL SHORT WITH SL OF 5200.

STRATEGY: AVOID FRESH LONG.

MARKET TREND: Topping out.

MARKET OUTLOOK: Long term good but for short term immediate reaction/correction is due.

FACTORS: Greece and Portugal financial crisis.

IMPORTANT: Investor mood is cautious

NIFTY SUPPORTS for the day @ 5062- 5010- 4970.

NIFTY RESISTANCE for the day @ 5153- 5192 - 5244.

BANK NIFTY: 9787.  Almost TGT reached and now it is in overbought area. SELL with SL of 10000 while short below 9700 for TGT of 9533 or 9280 lvl.  

POSITION CALL: NIFTY: 5113:

INITIAL SELL OFF expected to test the bottom of 5088.

AFTER INITIAL WEAKNESS IF NIFTY SURPASSES 5142 BUY

IMP SUPPORT 5088, 5072 AND 5056.

MAJOR SUPPORT 5056 BELOW THAT ANTICIPATE 5004.

VOLTAS: RS 95.20: stock just entered again in buy zone and surpassed its previous swing top of Rs 94.90. Also it has cleared another resistance of 100 day SMA which was at 93.48. Buy with SL of Rs 90 for the TGT of Rs 120 which is its 200 day SMA.

IFCI: Rs 26.75. Consecutively forth week it has surpassed its previous week’s high. Buy with SL of 25 for the immediate TGT of 31 and next 36. Consider this as a safe bet for the short term to medium term.

B: BFUTILITY: CMP 367.

SL 355

TGT 395

3IINFOTECH RS 17.15

BUY POSITION

SL 16.00

TGT 22. AND 24.5

BPCL; BUY INITATE ABOVE 563.

SL 554. TRADING CALL FOR 2 DAYS

TGT 569 TO 577.

INVESTMENT CALL

MTNL: RS 28.65. BUY WITH SL OF 26.70. SUDDEN RISE IN VOLUME OBSERVED ALONG WITH RISE IN PRICE. A CORRECTION OF 0.27% OF THE LAST UP MOVE (22.25 TO 29.85) OBSERVED UP TO 26.70. IN OTHERWORDS A HIGHER BOTTOM IS FORMED. SWING REVERSAL FORMATION OBSERVED. PRICE IS LIKELY TO SURPASS 30 LVL AND TGT OF 38 IS ANTICIPATED.

COAL INDIA: Rs 329.50. Rally started from 293 to 358 is now fully matured and progressing to correct the previous rise. It has completed 0.382 and now 50% is at 325 while 61.82% is at 318. So one can buy at or below 318 as I feel that the current decline is giving best opportunity for the future and range between Rs 300 to 318 should be an ideal investment range to accumulate this stock. Buy and hold for 3 to 6 months time horizon.

Market Is Under Cool Down Process: Nifty Renders –ve Divergence in 60 / 90 min time frame

 

Hi Subscriber,

Today I have presented 2 NIFTY charts one is daily and another is 60 min time frame.

In the first chart you can see NIFTY arrived exactly near the downward slopping trend line which is acting as resistance lvl since the current bear phase started. On the other hand second chart is of 60 min time frame and that also has touched upper area of the channel. The oscillator RSI in the first chart is now at his highest overbought area and to surpass or break above the slopping trend line it will require more steam. In that case a minor to sizable decline can not be ruled out. We need one correction before surpassing 5200 lvls. The 3 green snake in the second chart is now placed at 5011, 4997 and 4979 which is going to act as strong support area. By any means if nifty trades below 4978 then situation will be different and we will have to rethink about the next course.

Immediate support is at 5088, 5072 and 5056 for the day.

During last hour of the closing time NIFTY started showing cool down process along with swing reversal so we feel that today being expiry day there may be some selling pressure at the early hours and then drop may start. However, this is just an assumption so do not jump to go short. As there is no any signal to go short.

Intraday: Trader in this category can sell NIFTY below 5110 lvl and cover short at 5088 lvls. Buy above 5145 with SL of 5110 for the TGT of

Day time frame: It is in up trend. “Exit 100% LONG” Sell below 5045 Is breached or Risk taker can sell Feb future with SL of 5200 lvls. No fresh buying in this time frame.

Position trader medium term: Exit long and wait for the fresh call to generate.

Long term: Who started position at 4700 or below should exit 50% only and rest carry with SL of 4933 lvl.

NIFTY RANGE: 4950-5200 for immediate trend and 4700 – 5250 for positional trade.

CRUCIAL: SUPPORT 5040 & RESISTANCE 5200 and 5217.

APPROACH: SELL SHORT WITH SL OF 5200.

STRATEGY: AVOID FRESH LONG.

MARKET TREND: Topping out.

MARKET OUTLOOK: Long term good but for short term immediate reaction/correction is due.

FACTORS: Greece and Portugal financial crisis.

IMPORTANT: Investor mood is cautious

NIFTY SUPPORTS for the day @ 5062- 5010- 4970.

NIFTY RESISTANCE for the day @ 5153- 5192 - 5244.

BANK NIFTY: 9787.  Almost TGT reached and now it is in overbought area. SELL with SL of 10000 while short below 9700 for TGT of 9533 or 9280 lvl.  

POSITION CALL: NIFTY: 5113:

INITIAL SELL OFF expected to test the bottom of 5088.

AFTER INITIAL WEAKNESS IF NIFTY SURPASSES 5142 BUY

IMP SUPPORT 5088, 5072 AND 5056.

MAJOR SUPPORT 5056 BELOW THAT ANTICIPATE 5004.

VOLTAS: RS 95.20: stock just entered again in buy zone and surpassed its previous swing top of Rs 94.90. Also it has cleared another resistance of 100 day SMA which was at 93.48. Buy with SL of Rs 90 for the TGT of Rs 120 which is its 200 day SMA.

IFCI: Rs 26.75. Consecutively forth week it has surpassed its previous week’s high. Buy with SL of 25 for the immediate TGT of 31 and next 36. Consider this as a safe bet for the short term to medium term.

B: BFUTILITY: CMP 367.

SL 355

TGT 395

3IINFOTECH RS 17.15

BUY POSITION

SL 16.00

TGT 22. AND 24.5

BPCL; BUY INITATE ABOVE 563.

SL 554. TRADING CALL FOR 2 DAYS

TGT 569 TO 577.

INVESTMENT CALL

MTNL: RS 28.65. BUY WITH SL OF 26.70. SUDDEN RISE IN VOLUME OBSERVED ALONG WITH RISE IN PRICE. A CORRECTION OF 0.27% OF THE LAST UP MOVE (22.25 TO 29.85) OBSERVED UP TO 26.70. IN OTHERWORDS A HIGHER BOTTOM IS FORMED. SWING REVERSAL FORMATION OBSERVED. PRICE IS LIKELY TO SURPASS 30 LVL AND TGT OF 38 IS ANTICIPATED.

COAL INDIA: Rs 329.50. Rally started from 293 to 358 is now fully matured and progressing to correct the previous rise. It has completed 0.382 and now 50% is at 325 while 61.82% is at 318. So one can buy at or below 318 as I feel that the current decline is giving best opportunity for the future and range between Rs 300 to 318 should be an ideal investment range to accumulate this stock. Buy and hold for 3 to 6 months time horizon.