NIFTY TECHNICAL VIEW

NIFTY Daily Chart

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Before and After

TATA MOTORS AFTER

TATA MOTORS BEFORE

AXIS BANK AFTER

AXIS BANK BEFORE

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TATA MOTORS

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AXIS BANK

Axis Bank 60 Min Chart

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ABAN OFFSHORE

ABAN 60 Min Chart

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HERO HONDA

HERO HONDA 60 Min Chart

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NIFTY INVERTED CHART

NIFTY Daily Chart (INVERTED)

It is good written in one of TA book that If you want to buy stock in bull market you need to do just one thing. You need to inverse the chart and ask yourself one question whether you will sell now if answer come "No" then you should not buy that stock and if answer comes "Yes" then you should buy that stock.

Why I am telling you all this things? it is to explain you that why the current level is not comfortable to buy stocks. You can see yellow ellipse which is 20 DMA crossover 50 DMA which is bullish sign in Inverted chart. You can also see RSI below that chart it is also making higher lows (on inverted scale) which signs the reversal of trend anytime soon. I am not trying to anticipate anything in stock market either not advising any short position.

I am personally uncomfortable to buy stocks at current levels I would rather prefer to wait for some good correction of 20% - 25% from current levels. Now levels I am watching are 4953 and then 4890. If these two levels breaks then 1st stop comes around 4700 and finally if 4700 breaks then expecting the entire current trend will get reversed significantly.

Now want to give some input on Nikkei (Japan Index) it has potential to correct and rally well before world markets do, which has been seen in history also. Nikkei started correcting from 31st August 2009 which is still going on. Now it is coming in oversold territory and expected to move sideways till other markets get corrected.

According to Elliott Wave analysis the Major 5 Wave cycle of S&P 500 ended at 1576 and fallen in 5-3-5 formed. first 5 wave downside completed at 667 and 3 wave corrective is about to complete around 1114 so soon the 5 wave down to retest the low of 667 will start.

Coming to Dollar lots of talks happening on its bottoming out or not. Many analysts are still pessimistic on Dollar, the scenario I look same as it was at the time when S&P 500 reached 667 when many analyst telling about more downside in it. Now I don't understand how can one country can afford deflation of their currency, certainly this is for boosting US Exports but in the long run this will create more serious problems for US govt and if US is in problem it will screw whole world with its problem like what happened in 1929, 1970,2000 & latest 2008.

Now coming to astrological dates 1st to 5th December may come as reversal time for stock market, 1st week of January 2010, then 15th to 20th February 2010. Now keep watch on these dates as it can trigger some correction in days to come.

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GAIL 60 Min Chart

GAIL 60 Min Chart

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DEFENSIVE STOCKS FORMING BULLISH PATTERNS !!!

ITC Daily Chart

HUL Daily Chart

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Can DOW JONES Cross 10450 ???

DJIA Daily Chart

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CNX-IT INDEX

CNX-IT Index

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SENSEX RISING WEDGE & MULTIPLE SUPPORTS

Sensex Multiple Supports

Sensex Rising Wedge

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NIFTY FUTURE 23-10-2009

NIFTY 60 min Chart

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S&P 500 VIEW

Daily Chart of S&P 500

In the above chart of S&P 500 you can see that S&P500 took the support exactly at the green trendline, Red upper trendline & last but not least at 50 DMA indicated with green circle. Now you can see it is facing resistance at exact upper trendline. Now I have also pointed that it is in formation of Head & Shoulder which is bearish pattern but its not time to react on this unless it closes below green trendline. It may give false breakdown as it has given in past marked with blue trendline and names. So small bounce is expected on S&P 500.

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POSSIBLE INVERSE HNS ON TULIP!!!

60 min Intraday Chart of TULIP

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POSSIBLE INVERSE HNS ON MC-DOWELL!!!

Mc-Dowell 60 min Intraday Chart

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POSSIBLE RISING WEDGE ???

NIFTY HOURLY CHART

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BEWARE OF OVER OPTIMISM IN MARKET ???

SENSEX Weekly Chart

--> I tried to compare the current move with the move which happened in Jan 2008. I saw the current move is showing exactly same formation which we saw in Jan 2008. The Red Line (RSI) shows exactly same negative (highlighted with green shadow) divergences which we saw in Jan 2008.

--> Now Technically market is making new 2009 highs but RSI is not, which is signalling that its time to generate cash at higher levels.

--> In Jan 2008 Sensex has given false breakout and then suddend fall with lower Circuit, currently Sensex has to give Breakout above 16300 and could go upto 17500-18000 in short term but it would be wise to liquidate long positions around these levels rather building fresh long positions.

--> Will update my view regularly in coming weeks. Need to watch Sensex Closely.

SENSEX Daily Chart

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NIFTY VIEW 10-08-2009

NIFTY WEEKLY CHART

Nifty is in the range of 700 points between 4000 to 4700 any move eitherside will give quick 700 points move on NIFTY. Nifty may consolidate between this levels. Now it requires very strong triggers to get pass the 4700 strong resistance. If Nifty manages to pass 4700 decisively then we could see 5400 on Nifty quickly. Now negative factors which may impact the current uptrend are SWINE FLU & Monsoon woes which are getting bigger day by day. Now we need to wait & watch till Nifty gives strong buy signal or Go long on Nifty only if it crosses decisively 4700.

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"IMPORTANCE OF USD INDEX"

USD INDEX EoD Chart

The above Chart is of USD Index. In Early March the USD index topped out which trigerred the massive rally in GLOBAL EQUITIES. Now the Daily Chart USD Index is showing some signs of bottoming out.RSI is making higher lows while prices are making lower lows which signals that USD is in process of bottoming out or consolidating before notching upward. If USD bottoms out and starts moving (Which will happen soon based on technical indicators) up will impact adversely the GLOBAL EQUITIES. Small to Medium term correction could be trigerred in GLOBAL EQUITIES. Also All GLOBAL INDICES are trading near major resistance which will act as strong barrier for all GLOBAL INDICES.

Now why we are giving so much importance to USD Index???

The answer is in past USD Index has inverse co-relation with EQUITIES.

In Early March the USD Index topped out (Highlighted with BLUE Circle) & at the same time Massive Rally started in GLOBAL EQUITIES. Now according to ELLIOTT WAVE USD Index ended 5 wave corrective phase & Equities may be in its 5th wave.

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NIFTY FUTURE INTRADAY VIEW 31-07-2009

NIFTY FUTURE 60 Mins Chart

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Today is the last day we are posting NIFTY View on the BLOG. As we are starting paid service from 3rd Aug 2009. So if you are satisfied with our views and want to earn more on NIFTY then kindly subscribe to our paid Service.

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NIFTY FUTURE INTRADAY VIEW 30-07-2009

NIFTY FUTURE 60 Min Chart

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NIFTY FUTURE INTRADAY VIEW 29-07-2009

NIFTY FUTURE 60 min Chart

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NIFTY INTRADAY 21-07-2009 VIEW

NIFTY Intraday 60 mins Chart

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WAIT & WATCH HaHaHaHaHaHa

SENSEX Daily Chart for 20th July 2009

NIFTY 60 mins Intraday Chart for 20th July 2009

DOJI as SHORT TERM Bottom mentioned on 14th July 2009

H&S Pattern Formation Mentioned on 29th June 2009

We had mentioned about H&S pattern on 29th June 2009, in that we had told that closing below neckline will give some good downside move. We have suggested positional short calls to our Nifty positional trading clients on the Budget day at 3 pm with stop loss of 14261. Sensex has given 550 odd points move on downside. Many analyst were waiting for more confirmation to take call on such moves.

Now again on 14th July 2009 we had mentioned about DOJI also we had written that short term bottom is in place on SENSEX. We suggested short covering call as well as fresh long positional call to our Nifty trading clients on 13th July 2009 at 3 pm and we got 1400 points from 13400 to 14800 move. Many analyst are still waiting & watching the levels to take call. Swift move will happen in this kind of market so analyst has to take swift & bold calls on market move.

Conclusion did you made profit out of this 1950 points movement on the SENSEX or still waiting for levels like many other analysts hahahahahahaha. :))

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NIFTY INTRADAY 17-07-2009 VIEW

NIFTY 60 mins Chart

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New Scheme Only for NIFTY Traders

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INTRADAY VIEW 16-07-2009

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INTRADAY VIEW 15-07-2009

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SENSEX ,S&P 500 & WIPRO VIEW 14-07-2009

SENSEX view

S&P 500 view

WIPRO 14-07-2009 View

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SENSEX VIEW 13-07-2009

SENSEX Daily Chart

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INTRADAY VIEW 10-07-2009

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INTRADAY VIEW 09-07-2009

NIFTY 60 Mins Chart

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"HISTORY REPEATS ITSELF"

Nifty Daily Chart

--> Budget spoiled the Bull party as it was expected (refer to our SENSEX v/s BUDGET View posted on 22nd June 2009 just click on the below link

http://market-gyaan.blogspot.com/2009/06/sensex-vs-budget.html

--> Some Tech Analyst were arguing about the pattern but I see the same thing happening which happened in the past Budgets. Now only thing is we have to wait for succsesive close below 4150 for 3-4 trading days, then only we will confirm the breakdown and pattern completion. Technically the target comes to 3650-3700 on Nifty and 12200-12500 on Sensex, but Nifty has strong support area of 3800-3900 & Sensex has strong support around13000 levels. As said in Technical Analysis "History Repeats It Self"

--> After yesterday's fall Nifty can show small but sharp bounce upto 4200-4220 which will act now stiff resistance for Nifty to cross.

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NIFTY INTRADAY 03-07-2009 VIEW

Nifty 60 mins Intraday Chart

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NIFTY INTRADAY 02-07-2009 CHANNEL

Nifty 60 mins Chart

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NIFTY INTRADAY 02-07-2009 VIEW

NIFTY 60 Mins Intraday Chart

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NIFTY INTRADAY 01-07-2009 VIEW

NIFTY 60 Mins Chart

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NIFTY INTRADAY 30-06-2009 VIEW

NIFTY Spot 60 mins Chart

Nifty has a strong resistance at 4440-4450 levels if it gets taken out by Nifty then we may see new intermediate high on Nifty and Sensex both. While on the downside it has good support at 4330-4300 levels. Nifty may consolidate in between 4300-4450 and then the next trend decider move will happen. Traders can buy around 4330-4300 levels with strict stop of 4280 & sell around 4420-4440 with strict stop of 4450.

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"OLD WINE IN NEW BOTTLE"

SENSEX HEAD & SHOULDER ???

"GOLDEN CROSS"

-->Finally the much awaited "GOLDEN CROSS" happened. According to Technical Analysis Theory "History Repeats Itself" we may have entered in the BULL MARKET. Last time when “GOLDEN CROSS” happened on Sensex, it was at 5963 and rised up to 21206 which was almost 256% gains from 5963 and Sensex took 49 months to reach 21206 mark.

-->In Current scenario when GOLDEN CROSS happened 22/06-2009 Sensex was at 14000 and if we calculate the same % gains on it the it comes to 49000-50000 on and Sensex may reach this mark in 49-50 months of period starting from 22/06/2009. So by July 2013 we may see 49000-50000 on Sensex.

"HEAD & SHOULDER PATTERN"

-->Currently Sensex and Nifty both are forming Head & Shoulder pattern on Daily chart, which is bearish pattern technically. Left Shoulder and Head are being formed and now Sensex and Nifty both are in process of forming of Right Shoulder. Technically we need to wait for the pattern gets completed and If the pattern gets completed and Both the Indices Break and closes below the neckline that will be our confirmation and then the target comes for Sensex is around 12000-12200 & for Nifty it comes to 3600-3650.

-->Now we need to wait for confirmation and wait for the whole pattern to develop. If Sensex and Nifty manages to take out previous highs of 15600 & 4693 then our view on H&S will be negated. We need to wait and watch for momentum line also, if it gets broken then the uptrend will come to an end in intermediate, the value comes to around 14300. We had mentioned about one big correction can not be ruled out (about 1500-2000 points on Sensex) in our view dated 14th June 2009 which we will treat it as "GOLDEN OPPORTUNITY".

-->There are two type of trading strategy in this kind of pattern

1. Sell 50% at 14900-15000 and sell remaining if Sensex breaks 14000 mark.

2. Exit from all longs whenever Sensex breaks and close below 14000 mark.

-->Weekly Support comes for Sensex to 14300/14000/13700 while resistance comes to 14900/15600/16200.

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