StockMarketTechnicals

Dow :Rising wedge

2012-01-08T19:22:00.000+05:30

Dow is forming a rising wedge on daily charts ...this pattern could take another 2-3 weeks to get completed at around 12700 levels.

Nifty

2012-01-04T18:13:00.000+05:30

Nifty has been moving in a triangle and upper trend line has provided resistance many time so for any further up move nifty needs to clear the upper trend line with volumes.

2011 :Year Gone by

2012-01-01T12:07:00.001+05:30

When we look at above chart we see that nifty corrected 24.6 % in year 2011 in compared to 52 % correction in year 2008 but if we look at chart below which shows number of stocks below various ema's on monthly basis ,we can see that broader market has corrected to almost same levels as in 2008

Happy New Year

2012-01-01T11:53:00.000+05:30

Nifty

2011-12-27T18:22:00.000+05:30

Probable Inverted Head and Shoulder pattern or just wishful thinking?

S&P 500 : Bullish Chart

2011-12-24T10:34:00.000+05:30

S&P 500 chart gives hopes to the bulls...firstly it managed to close above 200 DMA and secondly it also closed above downward moving trend line.

Nifty : Channel Breakout

2011-12-22T18:21:00.000+05:30

Nifty was moving down in a channel ,today it gave a breakout from that channel so now nifty could target 4880-4900.

Hindustan Unilever

2011-12-22T10:24:00.003+05:30

Hindustan Unilever has made ascending triangle pattern on daily chart so if it takes out 403 with good volumes then the stock could target 430-435.
************************************************************************
Update EOD

HUL gave a breakout on good volumes.

Update : Bindal Agro

2011-12-20T17:36:00.001+05:30

As stated in this post as soon as the stock broke down from 60 it saw a big cut of 18.5% in a single day.

Update : Nifty Double Top

2011-12-20T15:38:00.000+05:30

Double Top target given in last post reached today.

Nifty : Double Top

2011-12-18T16:59:00.002+05:30

Nifty made a double top @ 4840 and 4819 on hourly chart and confirmed it by closing below 4680, it could now target 4540-4530.

Nifty : Channel Breakout

2011-12-16T10:03:00.001+05:30

Nifty gave a breakout from the downward moving channel so it could now target 4920-4930.
************************************************************************
Update EOD

Breakout failed and a single hourly candle at 3:00pm made all the difference.

Nifty : Channel Breakout

2011-12-13T17:33:00.001+05:30

Nifty was moving in a downward moving channel, today it gave a breakout from this channel so now nifty could target 4870 and 4910......any move below 4730 would invalidate the setup.
*********************************************************************
Update 15/12/11
Breakout failed as market gap down and opened below 4730.

Nifty

2011-12-08T21:04:00.000+05:30

In last five days nifty has taken support at 4916-4922 three times, lets see if this support is held fourth time also as there is positive divergence in 1 min chart but still no positive divergence on hourly chart...if nifty breaks this support than it is most likely to fill the gap between 4917-4845.

Update : Nifty Rising Wedge

2011-12-08T15:44:00.001+05:30

Both the targets given in last post reached.

Nifty :Rising wedge

2011-12-07T10:06:00.001+05:30

Nifty is forming rising wedge pattern on hourly chart.....with target of 4980-4920, if nifty starts trading above the upper trend line or after breaking the lower trend line (which as of now stands at 5040) it starts trading sideways the pattern will get invalidated.

Nifty

2011-12-04T21:02:00.003+05:30

This week nifty is most probably going to trade between 4830-5125 levels.

Update : Nifty

2011-11-28T18:01:00.000+05:30

Target of 4860 given in last post reached today.

Nifty

2011-11-24T17:52:00.000+05:30

In hourly chart nifty was moving down in a channel.....today it gave a breakout from that channel along with a positive divergence on RSI ,so one can go long and channel breakout target comes at 4860.

Nifty

2011-11-21T19:03:00.001+05:30

Nifty could take support at 4725 -4680 area as it has provided support on earlier occasion also.

Update :L&T

2011-11-20T19:08:00.000+05:30

Second target given in this post reached.

Bindalagro

2011-11-15T18:49:00.001+05:30

In June 2011 Bindalagro consolidate at 90 levels for around two months and then gave a breakout which failed and then the stock fell more than 30% after that.....now once again after consolidating at 60 levels for more than a month the stock gave a breakout on 09/11/11 which failed..... so will the history repeat itself is to be seen.

Nift - Intraday post

2011-11-11T10:14:00.000+05:30

Nifty took support at lower trendline of downward moving channel.

Nifty

2011-11-10T18:09:00.001+05:30

5200-5165 area could provide support for nifty as this area has provided strong resistance in past months.

TTK Prestige

2011-11-04T18:16:00.000+05:30

TTK Prestige had a tremendous move from 200 levels in 2009 to 3175 levels in 2011.....but now it looks like that the stock is making a rounded top.

Nifty

2011-11-03T21:26:00.000+05:30

Nifty made a double bottom at 207-202 in hourly chart,if 5300 is taken out with volumes nifty could target 5400.

HUL

2011-11-01T19:19:00.000+05:30

Hindustan Uniliver has made all time high on very good volumes after breaking out of resistance line so now this line should act as support

Nifty

2011-11-01T19:10:00.001+05:30

5220-5230 area is important for nifty for tomorrow(02/11/11) as this level coincide with 23.6% retracement level of up move from 4729 till 5382 and upward moving trend line, also at 5219 level nifty will fill post diwali gap.

ACC

2011-10-27T17:32:00.001+05:30

ACC has given a breakout on good volumes after consolidating in a range for almost a year so the stock could now target 1300-1350.

20 Best and Worst performing stocks since last Diwali

2011-10-26T14:57:00.001+05:30

20 Best performing stocks since last diwali

20 Worst Performing stocks since last Diwali

Nifty

2011-10-26T14:12:00.000+05:30

Yesterday nifty gave a breakout from 4720-5160 range on good volumes, the thing to be seen is will there be follow through move today?

Happy Diwali

2011-10-25T21:17:00.001+05:30

GSFC

2011-10-23T13:38:00.000+05:30

GSFC has been trading in a range of 420-464 for more than a month, so one can trade this range for quick gains and if the stock is able to give breakout above 464 with good volume then it could see another 10% upside.

Nifty Weekly Chart

2011-10-09T16:28:00.000+05:30

For last 7 weeks nifty has been trading in a range of 5169-4720.........breakout from this range will give good trading opportunity.

Update : Axis bank

2011-10-09T16:00:00.000+05:30

Axis reached the traget given in this post

Orchid Chemicals

2011-10-04T13:21:00.000+05:30

Orchid chemical has broken down from an important support of 61.8% retrachment level of up move since march 2009..........so the stock could now target 140-120 levels in coming weeks.

Update : L&T

2011-09-28T17:47:00.000+05:30

First target given in last post reached today.

L&T

2011-09-25T20:03:00.000+05:30

L&T has broken down from head and shoulder pattern with good volumes so the stock could now target 1400-1200 in coming weeks

Reliance

2011-09-22T18:52:00.001+05:30

Reliance made a double top at 860 level and now it has confirmed the same on good volume so now the stock could see 740 level.

Bajaj Hindusthan

2011-09-21T17:47:00.000+05:30

Bajaj hind is trading near its multi-year low.

Ipca lab

2011-09-18T10:32:00.001+05:30

Ipca lab has been trading in a band of 345-350 and 260-270 for over a year ,if the lower band is broken with good volumes the stock could target 200 in coming weeks.

Atul

2011-09-15T19:18:00.000+05:30

Atul is showing bullish flag and pole pattern with a target of 253...pattern invalidates on close below 210.

Abirlanuvo

2011-09-11T13:37:00.001+05:30

Abirlanuvo has been trading in a range for last two years, any move out from the range could give 300 points.

Axis bank

2011-08-21T13:50:00.002+05:30

Axis Bank has broken down from a descending triangle and an important trend line at 1179 so now the stock could fall down to 980 - 905 - 790.

SBIN

2011-08-18T19:10:00.000+05:30

SBIN has broken down from head and shoulder pattern (but on low volumes) ...... it could target 1820-1590.The stock has very strong support around 2030 levels.

Tata Power

2011-08-15T15:25:00.000+05:30

Tata power has broken down from the down ward moving channel it was trading for last two years........so the stock could now fall to 900 -840 levels.

Update : IT Index

2011-08-13T11:23:00.000+05:30

IT Index reached both the targets given in this post .

Polaris

2011-08-11T19:03:00.000+05:30

Polaris has been trading in a range of 213-140 for last one and a half year and it is now trading at the lower end of this range and if the the range is broken with volumes then the stock could fall all the way down to 70 levels.

Update : Infy

2011-08-08T20:52:00.001+05:30

Infy reached its first target as given in this post .
(Note : I was not updating the blog as there was some problem with my blogger account)

Nifty

2011-07-10T20:48:00.000+05:30

Nifty is doing nothing but making a range between 5610-5730.

FMCG Index

2011-07-04T08:57:00.000+05:30

FMCG Index is at all time high.

Nifty

2011-06-28T08:30:00.000+05:30

Nifty is heading towards wall of resistance at 5600.

ACC

2011-06-26T21:23:00.000+05:30

For last 7-8 months ACC has been oscillating between 922-1130.

TCS

2011-06-21T09:13:00.000+05:30

TCS is at very strong support now.

IT Index

2011-05-25T17:56:00.001+05:30

Today IT index broke down from a bearish head and shoulder pattern and could go down to 5260 and 5050, so IT stocks should be avoided for the time being..........also IT biggie infosys today closed below a strong support of 2800.

SBIN

2011-05-24T18:37:00.000+05:30

SBIN has broken down from a flag and pole pattern with good volumes so it could now fall upto Rs1900.

Metal Index

2011-05-23T21:11:00.000+05:30

Metal Index was trading in a triangle for last one and a half year but now it has broken down from the triangle,so metals stocks are a avoid now.

Nifty : Bearish Flag?

2011-05-15T09:56:00.001+05:30

Nifty has formed bearish Flag on daily chart........if nifty breaks down below 5450 with good volumes then it could test February lows.

Nifty Weekly Chart

2011-05-08T19:32:00.000+05:30

This week Nifty took support at the upward moving trend line ,which for coming week stands at 5466.

Update : Descending Triangle In Nifty

2011-05-05T15:44:00.001+05:30

Both the targets for descending triangle given in the last post reached today.

Nifty : Descending Triangle

2011-05-03T18:17:00.000+05:30

Nifty broke down from an descending triangle with good volumes..........now it could target 5485 and 5450.

Nifty

2011-05-02T18:31:00.001+05:30

Nifty is below 200 DMA and at the lower end of range in which it has been trading since april .

Nifty Weekly Chart

2011-04-30T17:54:00.000+05:30

This downward moving trend line is really turning out to be a tough nut to crack for nifty.

Infosys

2011-04-24T16:40:00.000+05:30

Infosys has made a head and shoulder pattern.........if the neckline is broken with volumes the stock could target 2470-2330 .

Polaris

2011-04-18T13:06:00.003+05:30

One can short Polaris for a target of 184-185......stop loss above 198.
***********************************************************************
Update 19/04/11
Stop loss hit

Nifty Weekly Chart

2011-04-17T19:37:00.000+05:30

The Upper trend line is resisting nifty for last three weeks.

Nifty

2011-04-14T16:20:00.001+05:30

Nifty is getting resisted by downward slopping trend line again and again ............lets see whether we are able to move above it convincingly this time or not.

Nifty Weekly Chart

2011-04-04T08:47:00.000+05:30

This is follow up chart of last week...........and we could see that nifty has clearly broken out of downward moving channel............so now we could see nifty scaling previous highs in coming months.

Nifty Weekly Chart

2011-03-27T18:25:00.000+05:30

In Nifty weekly chart above, one could clearly see that nifty has been trading in a downward moving channel...and last week it closed right at upper trend line of the channel.......so lets see whether nifty is able to move out of this channel or once again start its downward journey.

Nifty

2011-03-24T20:34:00.002+05:30

Nifty broke out from downward moving channel but has strong resistance at 5575 level and if it manages to close above this level it could target 5650.
******************************************************************************
Update EOD 25/03/11

Target reached as nifty made a high of 5667.

Happy Holi

2011-03-18T17:45:00.001+05:30

Reliance

2011-03-15T21:27:00.000+05:30

Reliance has been trading in a range for almost two years ............and it is not showing any weakness in such turbulent environment............and today it managed to close above 200 dma also..........so Reliance is definitely a stock worth keeping an eye on .

Tsunami In World Markets

2011-03-15T21:14:00.001+05:30

Cipla

2011-03-13T15:19:00.000+05:30

Cipla has closed below 300 level on weekly basis ...........now the stock could fall another 30-40 rs.

Nifty

2011-03-03T19:18:00.001+05:30

For 04/03/11 Nifty has resistance at 5560 and then at 5640 and support at 5475.

Nifty : In channel

2011-03-01T21:10:00.000+05:30

Nifty is trading in an upward moving channel and could face resistance at upper trend line which for tomorrow stands at 5640.

*************************************************************************
Update on Orchid Chemicals
Even though the pattern still hold , but looking at market momentum on upside its dangerous to trade against market direction.

Orchid Chemicals

2011-02-28T10:39:00.001+05:30

There is an head and shoulder pattern in orchid chemicals and is trading below its neckline so it can target 235-215 .
(Facing problem in uploading charts)

Update : INDUSIND BANK

2011-02-27T13:03:00.000+05:30

INDUSIND Bank made a high of 238 and reversed to hit the stop loss.

Update : Petronet

2011-02-24T15:31:00.000+05:30

Petronet target given in this post reached today.

Update : SBIN

2011-02-24T09:42:00.000+05:30

State Bank of India made a high of 2814.75 and reversed back to hit the stop loss.

Update : Reliance

2011-02-22T13:20:00.002+05:30

Target for Reliance given in this post reached today.

INDUSIND BANK

2011-02-21T21:00:00.000+05:30

One can buy indusind bank for target of 251 with a stop loss of couple of closing below 227.

Cipla

2011-02-17T21:14:00.000+05:30

Cipla is at important level , breakdown from this level could take the stock another 30-40 rs down.

Reliance

2011-02-16T19:01:00.000+05:30

One can buy Reliance above 950 for a target of 1000.

SBIN

2011-02-15T12:30:00.001+05:30

One can buy state bank of india (SBIN) above 2735 for target of 2980 with stop loss of 2690 on closing basis.

Petronet

2011-02-10T20:48:00.001+05:30

Petronet chart show a breakdown from rising wedge...........so now the stock could target 105.

Nifty

2011-02-09T18:54:00.001+05:30

There is a strong possibility of nifty seeing a bounce back tomorrow or getting into consolidation which could last for a few days.

Update : Descending Triangle In Nifty

2011-02-08T20:11:00.000+05:30

Nifty target given in this post reached today.

Update : M&M

2011-02-08T20:05:00.001+05:30

M&M target given in this post reached today.

Update : Cipla

2011-02-07T20:05:00.001+05:30

Cipla reached target given in this post .

Nifty

2011-02-06T19:17:00.000+05:30

Nifty at important support.

Update : ITC

2011-02-05T19:28:00.004+05:30

ITC target reached given in this post .

Nifty : Forming a Range ??

2011-02-03T20:34:00.000+05:30

Nifty is trading in a range for last 4 sessions,will it continue to trade in the same range or breakout is yet to be seen.

Tata Steel

2011-02-01T19:02:00.000+05:30

Tata Steel has formed head and shoulder pattern on daily charts, so couple of closings below 625 could take the stock another 100 points on the downside.

ITC : Breakdown

2011-01-31T20:13:00.000+05:30

ITC broke down from the range its was trading for last four months, now it could target 152.

Nifty Monthly Chart

2011-01-31T19:25:00.001+05:30

Nifty formed a bearish engulfing pattern on monthly charts, indicating further decline in coming months.

Look at Small Cap Sector

2011-01-30T10:18:00.001+05:30

Small Cap sector has broken down below the neckline of head and shoulder pattern formed, it could now target 6730, so one should avoid buying small cap stocks.

M&M : Double Top

2011-01-28T11:25:00.000+05:30

M&M formed double top at 800 and is trading below 722 so now it could target 650.

Cipla : Bearish Flag

2011-01-28T09:29:00.000+05:30

Cipla made a bearish flag which could take the stock to 318.

Reliance : Ready For a Breakdown??

2011-01-27T18:51:00.002+05:30

With primary trend being down, many stocks which were trading in a range have started to break down......Reliance the big daddy of Indian stock market is also trading at lower end of its range in which it is stuck for more than one and a half year.Today it broke an important support of 957.........so it would be interesting to see if reliance is able to hold 917 levels............. because once it breaks that level we could see 750-700 in reliance.