Asian Paint, ABCD PatternAsian Paints, Weekly Chart. ABCD Pattern completed, PRZ @ 1150/1200 Area. Strong Support @ 888 & 725
NIFTY-NSE
POLARIS ABCD Pattern Polaris may bounce from 166 Levels. Watch for price action/ Divergence in Indicators @ 166 Levels. If Holds 1 can go long with target of 198. (All fibo Levels)
HDFC Bank: Approaching Long term topNSE:HDFCBANK
The impulse that started in early February is nearing completion.
We are already seeing signs of RSI divergence on daily charts.
More importantly, it is also completing 5 wave cycle, as seen on this weekly chart.
Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.
Reliance Capital - Targeting 470 (Buy)After today's strong breakout at 420 levels and managing to close above that levels provide us a strong bullish signal on its price action. I believe now the price action will move towards the next resistance levels in next few weeks.
It is a good time to enter with the reward risk ratio of 1:3
Target 1: 452
Target 2: 470
SL 1: 400
NIFTY Futures Trade plan - Week 20-JuneMarket Bytes 20-Jun-2016
Nifty futures: In the previous session despite gap up openings NIFTY futures failed to clear our swing hurdle of 8250 range.Expected gap down opening below our trend decider of 8140-50 zones. This immediate zone will hold resistance and decide the market trend for today. On the downside a break of 8105 can lead to a test of 8080 levels again. Swing hurdle on the upside continue to remain at 8240-50 zones.
#nifty #nseindia #sensex #stock
NIFTY 09 May Plan aheadMarket Bytes 09-May-2016
Nifty futures: On our Fridays Market bytes edition we discussed that 7700-05 will hold a key base for the markets. This got respected pretty well despute a gap down opening. This further rep inforced the level. We discussed that the range of 7700-7900 is going to probably hold fort for coming sessions. On the upside immediate hurdle lies at 7850. so the idea will be to look at the base of 7700 and target the levels of 7830-50 in the swing or intraday day play.
overall not much of a plan change from last plan.
#nifty #nseindia #sensex #stock
Banknifty 3 YR Long Term Consolidation Breakdown ShortHello
This is an update from my BANKNIFTY Long call from 13700
and my BANKNIFTY short call which is at a breakeven point. The first scenario I had foreseen was a reversal at this lvl. The second was retrace to 17k and then back down. Now I notice a 3y long pattern of consolidation that has been in development ever since BANKNIFTY rallied from 8k to a 200%+ high of 20k. The banking index is looking weak as India continues to cut rates inorder to increase budget by decreasing payments on debt.
In the short term I think that the second possibility of 17k and back down is possible as the price action has been extremely bullish from 13k ranges and shows indications of wanting to test the top of the consolidation triangle at around 16.7k.
Best of luck
Nifty short term viewNifty is moving in range of 6960 - 7280 .
Nifty has already made triple bottom pattern on daily chart.
stay long on nifty till above 6960 . further 7100 7190 7280
any break below 6960 then reverse the position and go short on nifty with the target of 6900 6869.
NIFTY Future Trade Plan Week 14 Feb-2016Market Bytes 15-Feb-2016
Nifty Futures:Friday we restated that we see a bottom at 6800-6830 levels against the tide of the trend. This proved so correct as NIFTY managed to hold on and make a low of 6875 to bounce back from there. Expect 6850-75 to be a bottom for now and this could be used for swing long trades.For intraday trades our immediate suport base can be 6980 levels. Expect near term upside movement upto 7080 and 7130 levels. Lets use 6980 as a trend decider and look for short trades below as well for down side retracements upto 6920-30 levels.
#nifty #nseindia #sensex #trading #intraday #shares
Breakout in USDINR (above 63) : Warning for Nifty (Sell Off)Watchout USDINR in coming weeks, it is looking to go higher and a breakout will cause INR to move very swiftly !! And the effect of breakout will be on Nifty as FII would start to pull out from India !!
Better strategy would be Long USDINR and Short Nifty
