NIFTY TURNED WEAK AS PER THE TIME CYCLE AND SWING CHANGE. NOW STAY AWAY FROM LONG AND KEEP SL OF 6120 FOR ALL SHORT POSITION

Observation: MY TURNING OF 22^ND IS NOW IN BEARISH TREND. SELL WITH SL OF 6120 AS YOUR KEY SL.

Date: 23/01/2013:  NIFTY closing: 6060: Trade direction: DOWN AND OVERBOUGHT SITUATION HAS RNEDERED SELL WITH 6120 AS RESISTANCE lvl.

Reversal: For daily: 6050 (for short term up trend), For weekly: 5985 and for monthly 5955. 

Buy Above 6092 SL 6049 TGT 6094, 6129 AND 6149 : Sell Below 6040 SL 6076, 6020, 5985.

Observation: As expected NIFTY turned weak from turning cycle day and now so many stock turned weak along with NIFTY. Any rally observed should be used to sell with SL of 6120.

Trends in motion will stay in motion, they will persist, until they reverse

Time cycle:  NIFTY time cycle turning is turned weak now today the 22^nd Jan

BANK NIFTY:

·         TURNED DOWN FROM12975 HIGH AND IS NOW SHOWING WEKANSS.

·         ALREADY ARRIVED NEAR THE SIMPLE 21 DAY MA AT 12696 IS BROKEN AND ST IS AT 12575 WHILE CLOSE STK% IS SHWOING NEW LOW INDICATING CHANGE IN TREND IS ABOUT TO TAKE PLACE.

·         CLOSE BELOW 12574 INDICATES CORRECTION STARTED.

CLOSE BELOW 12655 WILL BE FRESH WEAK SIGNAL AND 12750 WILL BE A TREND REVERSAL.

RECOMMANDATION:

SELL:

ALBANK: RS 182.50: TURNED WEAK SELL AT CMP SL RS 188 TGT 176 AND THEN 167.

BANKNIFTY: RS 12600: EMA AND ADX TURNED WEAK. SELL WITH SL OF 12750. TGT 12425, 12282.

DLF: RS 254.10. SWING TURNED WEAK SELL WITH SLOF 258. WHILE TGT IS RS 249, 245 OR 240.

GAIL: RS 370.75: SELL AS SWING DOWN WITH NOSE DIVE OBSERVED. SELL WITH SL OF 377. TGT IS NOW 364, 359 AND 348.

JSWSTEEL: RS 858.20. SELL WITH SLOF 865. TGT IS RS 851, 844.

LT: RS 1556.60: A DOUBBLE TOP AT LOWER PART OF THE CHART IS FORMEDAT 1579 AREA. SELL WITH SL OF 1580. MORE WEAK TREND BELOW 1552 FOR TGT OF RS 1535 AND 1518.

NIFTY: RS 6060.45. SWING CHANGE OBSERVED. SELL WITH SL OF 6120 TGT IS 6040, 6020 AND BELOW 6000 5965.

BUY SIDE.

RELINFRA RS 541. BUY WITH STRICT SL OF 538. TGT 551, 561. BELOW 534 REVERSE YOUR TRADE.

SBI: RS 2472: ADX AND EMA BOTH TURNED WEAK. SELL WITH SL OF 2510. TGT RS 2451, 2429 AND 2395. BEING RESULT ON CARD MUST REVERSE YOUR TRADE WITH SL OF 2510.

SUNTV: RS 425. LAST TRADING DAY HAS RENDERED BOTH BUY AND SELL. SO BUY ONLY ABOVE 433 AND SELL BELOW RS 420. IN BETWEEN ITS NO TRADING ZONE.

SYNDICATE BANK: RS 140. BUY ABOVE RS 144 FOR FRESH UP MOVE. KEEP SL OF 138.