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Bank Nifty too has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out almost the last one month of Buying in a single blow! However, Bank Nifty still seems the stronger of the two indices when compared to Nifty. For the upcoming week, Bank Nifty seems likely to trade between 52,900 & 49,700 The...

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Nifty has been massacred by the brutal selling last week! If we look at the weekly chart, the weekly candle close has wiped out the last one month of Buying in a single blow! This clearly has signalled that we are in a Bear Market Grip. For the upcoming week, Nifty seems likely to trade between 24,400 & 23,155. The sentiment would be Sideways to...

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Heromotocorp is reversing from a strong support zone. While the overall trend continues to be bearish, a mean reversion is playing out. Which means a target of 4500 is feasible in the near short term. An Intraday or BTST type trade can be taken for a quick target to 4500. SL would be todays low.

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Bajaj Auto has once again demonstrated further weakness by breaking the present days low and the crucial neck line. Price is below all three crucial pivots - monthly, weekly & daily. I have shorted it once more for the next target as 8760.

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LT is showing weakness as it rejects the Monthly R1 zone on the Daily time frame. There are evident Lower Highs being formed and the crucial neck line is broken. I've taken a short swing trade for target till 3700 zone which would be the next logical support.

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Bank Nifty is clearly holding the highs of Last Friday. Price is holding strong above the Weekly and Daily Pivots which is a Bullish sign. I'm anticipating a blast on the upside and have taken a Long position for a target to 54,160 level.

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Notice how TCS is clearly breaking down from a price consolidation. The Weekly and Daily Pivots have been rejected which clearly indicates weakness. I've taken a short position till Target 4350.

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As I mentioned in my earlier post today, there was an inherent risk in shorting Dr. Reddy and that came true. Since the price was above the Daily Pivot, the bias was indeed bullish. A long trade has now been initiated for a target to the above resistance zone. This would be a BTST type trade.

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This price structure is similar to my earlier post about Bajaj Auto. Clear rejection from the highs after a gap up opening. Short position can be initiated for a target to 1230. This however could be slightly more riskier than Bajaj Auto because the price is above the Monthly Pivot. So that risk element needs to be taken into consideration.

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Bajaj Auto had a big gap up today morning and got rejected right away from The Daily resistance level. As per my understanding this has to be a good place to short for optimum risk to reward ratio considering that it has been in a downtrend. Short target - 8920.

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Bank Nifty previous weeks candle has closed positively with the formation of a Bullish Pin bar. The last trading session Daily candle closed again in a very Bullish manner signalling that Bulls have taken control in the immediate term. Similar to Nifty, I am expecting Bank Nifty to head towards 54,250 this week. In case of flat opening or gap down opening, BN...

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Nifty previous weeks candle has closed positively with the formation of a Bullish Pin bar. The last trading session Daily candle closed again in a very Bullish manner signalling that Bulls have taken control in the immediate term. As I mentioned in my last update on Friday, I have taken Long position overnight and am expecting Nifty to head towards 24,200 in this...

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Nifty is finally showing signs of Bullish confirmation. Notice how the price is expanding from a narrow state of low volatility. Daily RSI is also on the verge of a breakout of the 60 zone. If price closes positively at a new high for the day, I will be taking Long position and carrying it on a swing basis. Next long target - 25,250.

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Pharma sector is having a good selling pressure now and this is evident in top Pharma heavyweights like Sun Pharma, Divis etc. There is a clear rejection of pivots - Weekly & Daily and you can see the Lower highs being formed which clearly shows that buyers are certainly not in control. I have taken short positions for a Monthly target of around 1740 levels....

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I have taken short on BN. Daily support zone has been violated and 53,040 level could be tested. This is a quick trade.

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SBIN is clearly failing from the highs and has broken the Weekly Pivot and Daily Pivot. This is a sign of weakness. I have taken a short position on a Swing / STBT basis for target till 840.

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Bharti Airtel is weak. Monthly Pivot, Weekly Pivot and Daily Pivot have been rejected. A short position can be taken once price closes below 1566. Short side first target - 1545

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Maruti is showing a good bullish momentum. Price is trading above the Monthly Pivot and has now closed above the Weekly Pivot as well. Good buying coming in from the lows. A long option trade can be initiated till 11,500 level maximum which also coincides with 50 DEMA resistance. SL will be the present days' low.