Bajaj Electricals – A consumption play
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Sunday, December 30, 2012
Sunday, April 8, 2012
Nifty Monthly Analysis 8th April - 7th May,2012
Nifty Spot Closed at 5322
Nifty Spot Supports at 5238-5120-5049
Nifty Spot Resistances at 5421-5512-5630
Trend - Mild Bullish.
March was range-bound month for market. After 7 consecutive weeks of sharp upswing, We saw 4 weeks of market consolidation and some correction. Technically, Nifty is bullish above 515 which is also 200 DMA. On 29th march, Nifty hit 5150 but bounced sharply from 200 DMA and now trading with mild bullish at 5322 level. The single most important reason why market is not falling so far is nobody is convinced about upside. Open Interest indicates market is balanced with not too much longs.
Q4 earnings will be better than analyst’s expectations as analysts are extremely bearish on the same line like Q3. RBI will meet again in April for possible rate cut. Although, Rate cut will be slower in 2012 due to high inflation. Fiscal deficit between 5.5%-6% is concern. Stimulus of US and Europe will bring liquidity in India. Overall, Fundamental looks neutral for month of April.
Until and Unless, Nifty Holds 5150 spot on closing basis, The only way to beat the street is to have only one side approach BUY on DIPS. closing below 5150, Market will bearish for Short as well as Medium term. For short term, On Upside, Nifty spot will face resistance at 5421-5512-5630. On Downside, 5218 and then 5120-5049 are key support level. Long term is bullish. One should continue to HOLD/Buy on Decline fundamentally strong scrip's for 1-2 year time frame. We maintained Bullish term outlook for whole 2011 and we are doing the same for 2012 too.
“Trade with Levels not with Hope”
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Sunday, January 29, 2012
Nifty Weekly Technical Analysis (30th Jan-03rd Feb)
Nifty Spot Closing Price @ 5204
Nifty Spot Supports @ 5058-4907
Nifty Spot Resistances @ 5270-5400
In 1st 4 weeks of January, Nifty moved around 650 points from bottom of 4588. Momentum indicators are overbought with possibility of some consolidation and correction in near term if fails to sustain above 5200 spot. Nifty spot is standing at crucial resistance at 5200 which is 200 DMA. If Nifty sustains above 5200 zone for 2-3 days, it will reach 5352-5400 in Feb. On downside, Supports @ 5118-5058-4981-4907-4830. Short term trader can take some profit on longs and Hold rest with trailing SL of 5118 on closing basis. Avoid Fresh positional longs or trade with tight SL. Overall, Market is Bullish above 5058 for short term. Whenever there would be correction, it would be time to buy.
Last time, we mentioned Long term investors don’t need to panic at 4500-4600 levels. Long term investors will gain a lot if they HOLD or Buy quality fundamental scrip’s for 1-2 year time frame. Sensex was trading at attractive levels and many stocks were even trading at more attractive levels. Short and Long term are Bullish now. Long term investors should hold fundamentally strong scrip’s and Add on decline. Medium Term bearish below 5400-5500 levels.
“Trade with Levels not with Hope”
Regards,
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Nifty Spot Supports @ 5058-4907
Nifty Spot Resistances @ 5270-5400
In 1st 4 weeks of January, Nifty moved around 650 points from bottom of 4588. Momentum indicators are overbought with possibility of some consolidation and correction in near term if fails to sustain above 5200 spot. Nifty spot is standing at crucial resistance at 5200 which is 200 DMA. If Nifty sustains above 5200 zone for 2-3 days, it will reach 5352-5400 in Feb. On downside, Supports @ 5118-5058-4981-4907-4830. Short term trader can take some profit on longs and Hold rest with trailing SL of 5118 on closing basis. Avoid Fresh positional longs or trade with tight SL. Overall, Market is Bullish above 5058 for short term. Whenever there would be correction, it would be time to buy.
Last time, we mentioned Long term investors don’t need to panic at 4500-4600 levels. Long term investors will gain a lot if they HOLD or Buy quality fundamental scrip’s for 1-2 year time frame. Sensex was trading at attractive levels and many stocks were even trading at more attractive levels. Short and Long term are Bullish now. Long term investors should hold fundamentally strong scrip’s and Add on decline. Medium Term bearish below 5400-5500 levels.
“Trade with Levels not with Hope”
Regards,
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Saturday, December 24, 2011
Nifty Weekly Outlook (26th -30th Dec)
Nifty Spot Closing Price @ 4714
Nifty Spot Supports @ 4630-4500
Nifty Spot Resistances @ 4840-4970
Last week Nifty recovered some ground from 4539 and closed at 4714. Recovery was more due to short covering from technical oversold zone. Next week would be last week for 2011 which was bad for investors as well as traders. For next week, Nifty spot has support @ 4630. If closes below then earlier low of 4540 possible. If Nifty spot holds 4630, Then recovery till 4840 and even 4930-5010 possible. Nifty to go beyond 4840 needs value buying which need to be seen in last week and early next year. One can Buy Contra longs with Strict SL and below 4630 spot closing avoid short term longs. Medium term is bearish below 5300 weekly spot closing. Short term is neutral. Bearish below 4630 & Bullish above 4840 spot closing. 4480-4380 is long term support.
Endless calls of 4200-4000 target and endless downgrades of India has already come though the lowered earnings of Sensex comes to 12,000-11,000. Long term investors don't need to panic at this junction. Long term investors will gain a lot if they HOLD or Buy quality fundamental scrips for 1-2 year time frame. Sensex is trading at attractive levels and many stocks are even trading at more attractive levels.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 4630-4500
Nifty Spot Resistances @ 4840-4970
Last week Nifty recovered some ground from 4539 and closed at 4714. Recovery was more due to short covering from technical oversold zone. Next week would be last week for 2011 which was bad for investors as well as traders. For next week, Nifty spot has support @ 4630. If closes below then earlier low of 4540 possible. If Nifty spot holds 4630, Then recovery till 4840 and even 4930-5010 possible. Nifty to go beyond 4840 needs value buying which need to be seen in last week and early next year. One can Buy Contra longs with Strict SL and below 4630 spot closing avoid short term longs. Medium term is bearish below 5300 weekly spot closing. Short term is neutral. Bearish below 4630 & Bullish above 4840 spot closing. 4480-4380 is long term support.
Endless calls of 4200-4000 target and endless downgrades of India has already come though the lowered earnings of Sensex comes to 12,000-11,000. Long term investors don't need to panic at this junction. Long term investors will gain a lot if they HOLD or Buy quality fundamental scrips for 1-2 year time frame. Sensex is trading at attractive levels and many stocks are even trading at more attractive levels.
" Trade with Levels not with Hope "
Regards,
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Monday, November 7, 2011
Nifty Weekly Outlook (08th -11th Nov)
Nifty Spot Closing Price @ 5284
Nifty Spot Supports @ 5187-5061
Nifty Spot Resistances @ 5371-5503
Last week market remained range bound between 5200-5350. Nifty spot made low around 5200 and recovered some ground and closed at 5284. Next week is expected to be volatile as it will have only 3 trading sessions as Monday and Thursday are holidays. Nifty spot index has strong support @ 5200-5180 zone and until and unless it holds, One can continue to hold long positions or/and Buy on Decline. Closing below 5187 spot for 2 days, Trend will become mild negative from neutral and next supports of 5061-4970 will come in picture. On upside 5330-5370 is stiff resistance zone which was formed by the 61.8% of the short term or immediate fall, 50% of the intermediate or medium term fall and 38.2% of the higher term time frame fall. Closing above 5371, next upside target could be around 5500 with trend reversal at 5200.
Short term is side-way with mild positive bias. Medium term is Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term. Risk-Reward ratio for Buyer for long term investment is good.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 5187-5061
Nifty Spot Resistances @ 5371-5503
Last week market remained range bound between 5200-5350. Nifty spot made low around 5200 and recovered some ground and closed at 5284. Next week is expected to be volatile as it will have only 3 trading sessions as Monday and Thursday are holidays. Nifty spot index has strong support @ 5200-5180 zone and until and unless it holds, One can continue to hold long positions or/and Buy on Decline. Closing below 5187 spot for 2 days, Trend will become mild negative from neutral and next supports of 5061-4970 will come in picture. On upside 5330-5370 is stiff resistance zone which was formed by the 61.8% of the short term or immediate fall, 50% of the intermediate or medium term fall and 38.2% of the higher term time frame fall. Closing above 5371, next upside target could be around 5500 with trend reversal at 5200.
Short term is side-way with mild positive bias. Medium term is Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term. Risk-Reward ratio for Buyer for long term investment is good.
" Trade with Levels not with Hope "
Regards,
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Sunday, October 2, 2011
Nifty Weekly Technical Analysis (03rd-07th Oct)
Nifty Spot Closing Price @ 4943
Nifty Spot Supports @ 4843-4720
Nifty Spot Resistances @ 5051-5170
Last week market continued with its downtrend and made another low on weekly basis. Nifty Spot made low of 4758 very close to crucial support of 4720. Although market recovered from 4758 to 5034 after Monday steep fall but it closed at 4943 due to profit booking. Technically, Market is still range-bound and sideways with no clear direction. On Downside, Strong supports stands at 4843-4720. On upside, immediate resistance stands at 5051. Closing above for 2 days, It will move towards 5121-5170-5238. As of now, Market is Buy on decline until and unless holds 4720 and Sell on highs until and unless fails to cross and closes above 5170.
Short term is side-way/neutral. Medium term is Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 4843-4720
Nifty Spot Resistances @ 5051-5170
Last week market continued with its downtrend and made another low on weekly basis. Nifty Spot made low of 4758 very close to crucial support of 4720. Although market recovered from 4758 to 5034 after Monday steep fall but it closed at 4943 due to profit booking. Technically, Market is still range-bound and sideways with no clear direction. On Downside, Strong supports stands at 4843-4720. On upside, immediate resistance stands at 5051. Closing above for 2 days, It will move towards 5121-5170-5238. As of now, Market is Buy on decline until and unless holds 4720 and Sell on highs until and unless fails to cross and closes above 5170.
Short term is side-way/neutral. Medium term is Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Sunday, September 18, 2011
Nifty Weekly Technical Analysis (19th-23rd Sept)
Nifty Spot Closing Price @ 5084
Nifty Spot Supports @ 4980-4865-4750
Nifty Spot Resistances @ 5180-5268-5400
We didn't posted Nifty Technical Analysis last week.
last week, Nifty recovered from 4900 levels and closed at 5084 after hitting high of 5143. Petrol price hike of Rs.3 per litre and a 25 bps hike in the interest rate has effected the upward momentum. For Next Week, Nifty is still in side-way zone between 4900-5180. As long as 4980 holds, Nifty can move upwards towards 5180-5268. Once Nifty Spot closes above 5268 for 2-3 days, Trend will change into Bullish and 5400 will come in picture. Below 4980, Next crucial support stands at 4900. Closing below 4900, Next target would be 4800-4750 zone.
Short term is side-way/neutral and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Saturday, September 3, 2011
Nifty Weekly Technical Analysis (05th-09th Sept)
Nifty Spot Closing Price @ 5040
Nifty Spot Supports @ 4970-4860-4720
Nifty Spot Resistances @ 5120-5250-5336
We didn't posted Nifty Technical Analysis for last 3 weeks due to technical reason.
For Next Week, Nifty is in neutral zone with negative bias. Overall, still weak and last week rally was pullback rally after big correction. Until and Unless Nifty Spot holds 4970, Chance of pullback till 5120-5250 is possible. 5220-50 will be strong resistance zone. There is 100 point gap between 5230 and 5330 which need to be filled for bullish trend. On Downside, Support stands at 4970-30. Closing below 4930. 4860-4800-4720 possible. On Upside, 1st resistance stands at 5120, Closing above 5220-5250 will come in picture. As per trading strategy, High risk trader can go long until 4970 Holds. Short term will be bullish only if closes above 5120 and then 5250 on closing basis. Now, Both short term and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Monday, August 15, 2011
Nifty Technical Analysis (16th-19th Aug)
Nifty Spot Closing Price @ 5073
Nifty Spot Supports @ 5000-4910
Nifty Spot Resistances @ 5180-5350
Last week in our Nifty technical analysis, We mentioned Nifty is Bearish below 5350 and 5130-5050-4970 possible. We said Bears will try to short on every rise. Nifty Hit below 4950 and closed at 5073. Nifty cracked big time due to S&P downgraded the US for the first time in 70 years
For Next week, Nifty is still in bearish zone below 5120. Next Supports stands at 5030-4970-4910. As long as Nifty trades below 5120, Trend will be bearish and last Monday low is possible. Closing Above 5180 for 2-3 days, then trend will become mild positive and it can move towards 5330-5400 zone. Now, Both short term and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Sunday, August 7, 2011
Nifty Technical Analysis (08th - 12th Aug)
Nifty Spot Closing Price @ 5211
Nifty Spot Supports @ 5100-4970
Nifty Spot Resistances @ 5330-5450
Last week in our Nifty technical analysis, We mentioned Nifty is broadly in neutral and sideways zone between 5400-5700. Closing below 5370, Trend will change into bearish and June low 5256-5195 possible. The weakening financial and debt crisis in the US and Europe took a toll on our markets and Nifty hit 5116. Nifty spot closed at 5211.
For Next week, Nifty is in bearish mode. Next Nifty spot supports stands at 5130-5050-4970. Technically, Nifty is bearish below 5350. Until and Unless Nifty trades below 5350, Bears will try to short on every rise. Closing above 5350 trend will become mild positive and 5410-5470-5560 will come in picture. Now, Both short term and medium term are Bearish and long term is bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Sunday, July 31, 2011
Nifty Technical Analysis (01st-05th Aug)
Nifty Spot Closing Price @ 5482
Nifty Spot Supports @ 5400-5330
Nifty Spot Resistances @ 5560-5650
Last week in our Nifty technical analysis, We mentioned Nifty is mild bullish and closing above 5730 for 2 days, it could move towards 5800-5848. As expected the strong resistance zone mentioned last week proved to be too strong and the market reversed exactly from there due to unexpected 50bps interest rate hike by the RBI. Later, Market corrected and closed below crucial support of 5530.
For Next week, Nifty spot below 5530 next crucial support stands at 5410-5370. Technically, Nifty is in sideways zone between 5400-5700. Trend is broadly neutral now between 5400-5700. Closing above 5700 for 2-3 days, Trend will become bullish and next upside target could be 5800-5848-5930. Closing below 5370, trend would change into bearish and June low of 5256-5195 will come in picture.Short term and Medium Term are Neutral. Long term is Bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 5400-5330
Nifty Spot Resistances @ 5560-5650
Last week in our Nifty technical analysis, We mentioned Nifty is mild bullish and closing above 5730 for 2 days, it could move towards 5800-5848. As expected the strong resistance zone mentioned last week proved to be too strong and the market reversed exactly from there due to unexpected 50bps interest rate hike by the RBI. Later, Market corrected and closed below crucial support of 5530.
For Next week, Nifty spot below 5530 next crucial support stands at 5410-5370. Technically, Nifty is in sideways zone between 5400-5700. Trend is broadly neutral now between 5400-5700. Closing above 5700 for 2-3 days, Trend will become bullish and next upside target could be 5800-5848-5930. Closing below 5370, trend would change into bearish and June low of 5256-5195 will come in picture.Short term and Medium Term are Neutral. Long term is Bullish and this is the time to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Saturday, July 23, 2011
Nifty Technical Analysis (25th-29th July)
Nifty Spot Closing Price @ 5634
Nifty Spot Supports @ 5530-5410
Nifty Spot Resistances @ 5730-5848
Last week in our Nifty technical analysis, We mentioned Nifty is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Nifty recovered from key support of 5530-5495 and closed at 5634.
For Next weel, Nifty Spot Trend is mild Bullish until it holds 5530 on closing basis. On Upside Nifty spot has resistances at 5652 and then at 5717-5752. If Nifty Spot closes above 5730 for 2 days, then it will move towards 5800-5848. One should continue to Hold Long positions or Buy on Decline with SL 5530 on closing basis. Closing Above 5730, Nifty will streghten its bulishness. On Downside, Nifty Spot has supports at 5530-5495. Closing below 5495, next supports of 5410-5355 will come in picture. Currently, Short term is Bullish Above 5495 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 5530-5410
Nifty Spot Resistances @ 5730-5848
Last week in our Nifty technical analysis, We mentioned Nifty is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Nifty recovered from key support of 5530-5495 and closed at 5634.
For Next weel, Nifty Spot Trend is mild Bullish until it holds 5530 on closing basis. On Upside Nifty spot has resistances at 5652 and then at 5717-5752. If Nifty Spot closes above 5730 for 2 days, then it will move towards 5800-5848. One should continue to Hold Long positions or Buy on Decline with SL 5530 on closing basis. Closing Above 5730, Nifty will streghten its bulishness. On Downside, Nifty Spot has supports at 5530-5495. Closing below 5495, next supports of 5410-5355 will come in picture. Currently, Short term is Bullish Above 5495 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Sunday, July 17, 2011
Nifty Technical Analysis (18th-22nd July)
Nifty Spot Closing Price @ 5581
Nifty Spot Supports @ 5495-5410
Nifty Spot Resistances @ 5652-5750
Last week in our Nifty technical analysis, We mentioned Nifty Spot has crucial resistance of 200 DMA around 5750. Nifty is also overbought, Hence some consolidation possible around 5550-5750. If Nifty Spot closes above 5750 for 2 days, then it will move towards 5832-5945. On Downside, Crucial Support at 5600 and then at 5541. Nifty traded between 5530-5650 for most of the time.
For Next week, Trend is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and then 5750. If Nifty Spot closes above 5750 for 2 days, then all trend will change into Bullish and it will move towards 5832-5945 in short term. On Downside, Strong support at 5495 and 5410. Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Closing below 5450 trend will change into bearish and next supports of 5410-5355 will come in picture. Currently, Short term is Neutral Above 5500 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Nifty Spot Supports @ 5495-5410
Nifty Spot Resistances @ 5652-5750
Last week in our Nifty technical analysis, We mentioned Nifty Spot has crucial resistance of 200 DMA around 5750. Nifty is also overbought, Hence some consolidation possible around 5550-5750. If Nifty Spot closes above 5750 for 2 days, then it will move towards 5832-5945. On Downside, Crucial Support at 5600 and then at 5541. Nifty traded between 5530-5650 for most of the time.
For Next week, Trend is neutral with further consolidation between 5500-5650 possible. On Upside Nifty spot has resistances at 5652 and then 5750. If Nifty Spot closes above 5750 for 2 days, then all trend will change into Bullish and it will move towards 5832-5945 in short term. On Downside, Strong support at 5495 and 5410. Until and unless Nifty spot holds 5495 on closing basis, chance of pullback rally possible. Closing below 5450 trend will change into bearish and next supports of 5410-5355 will come in picture. Currently, Short term is Neutral Above 5500 spot closing. Medium Term is Neutral and will change into Bullish Above 5750. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Saturday, July 9, 2011
Nifty Technical Analysis (11th-15th July)
Nifty Spot Supports @ 5600-5541-5442
Nifty Spot Resistances @ 5750-5832-5945
Last week in our Nifty technical analysis, We mentioned Trend is Bullish but profit booking at higher level possible. Next Crucial resistances stands @ 5720-52. Above these levels, Nifty can move towards 5800-5871-5920. Nifty Spot failed to close above 5752 and finally closed @ 5660 on Friday.
For Next Week, Nifty Spot has crucial resistance of 200 DMA around 5750. Nifty is also overbought, Hence some consolidation possible around 5550-5750. If Nifty Spot closes above 5750 for 2 days, then it will move towards 5832-5945. On Downside, Crucial Support at 5600 and then at 5541. Closing below 5541 trend will change into bearish. Currently, Short term is Bullish Above 5600 Spot closing. Medium Term is Neutral. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Sunday, July 3, 2011
Nifty Technical Analysis (04th-08th July)
Nifty Supports @ 5520-5410
Nifty Resistances @ 5720-5871
Last week in our Nifty technical analysis, we mentioned Trend is Bullish with major Hurdle @ 5550-5610. Nifty continued to move upward from 5471 to 5705 while crossing hurdle of 5550-5610 and closed at 5627. For Next Week, Trend is still Bullish but profit booking at higher level possible. Next Crucial resistances stands @ 5720-52. Above these levels, Nifty can move towards 5800-5871-5920. On Downside, Strong supports at 5520 - 5458 - 5410. As long as 5520 holds, Trend will be Bullish. Closing below 5458 trend will change into bearish again. Medium Term is Neutral. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
Regards,
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Saturday, June 25, 2011
Nifty Technical Analysis (27th June-1st July)
Nifty Supports @ 5340-5252
Nifty Resistances @ 5600-5752
Last week in our Nifty technical analysis, we mentioned Trend is negative with support @ 5330-5280. Below 5280, it could move towards 5238-5177. Nifty made low 5195 after breaching all support of 5330-5280-5238 due to Mauritius treaty news. After making low @ 5195, Nifty recovered sharply and closed strongly @ 5471. Sharp recovery was mainly due to short covering and Value buying at lower level. For Next week, Trend is Bullish with major Hurdle @ 5550-5610. Above 5610, Next crucial resistances stands @ 5710-5752. On Downside 5340 will act as crucial support. Now, Short term is bullish and Medium term is bearish below 200 DMA of 5752. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
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Sunday, June 19, 2011
Nifty Weekly Technical Analysis (20th-24th June)
Nifty Closing Price @ 5366
Nifty Supports @ 5300-5177
Nifty Resistances @ 5470-5600
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral with some negative bias. Trend can only be bullish if closes above 5600. Closing below 5451, Nifty will move towards 5370-5300. Nifty Hit 5355 on Friday. For Next week, Trend is negative as of now until nifty closes above resistance zone of 5470. Next immediate nifty supports stands @ 5330-5280. Below 5280, it could move towards Feb low of 5238-5177. On upside, near term resistance stands @ 5470. Closing above 5470 with good volume can move nifty towards 5530-5600 where major resistance will come in picture. Now, Both Short term is bearish and Medium term is bearish below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
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Nifty Supports @ 5300-5177
Nifty Resistances @ 5470-5600
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral with some negative bias. Trend can only be bullish if closes above 5600. Closing below 5451, Nifty will move towards 5370-5300. Nifty Hit 5355 on Friday. For Next week, Trend is negative as of now until nifty closes above resistance zone of 5470. Next immediate nifty supports stands @ 5330-5280. Below 5280, it could move towards Feb low of 5238-5177. On upside, near term resistance stands @ 5470. Closing above 5470 with good volume can move nifty towards 5530-5600 where major resistance will come in picture. Now, Both Short term is bearish and Medium term is bearish below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Sunday, June 12, 2011
Nifty Weekly Technical Analysis (13th-17th June)
Nifty Closing Price @ 5486
Nifty Supports @ 5380-5256
Nifty Resistances @ 5600-5757
Nifty Trend Deciders @ 5402-5600
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral and most the momentum indicators are mixed. closing below 5451 & Above 5600 will make Bearish and Bullish Trend respectively. Nifty Spot failed to close Above/Below 5600 and 5451. For next week, short term trend is still neutral with some negative bias. Trend will change into bullish only if closes above 5600 for at least 2 days with good volume. Above 5600, It can move towards 5652-5691-57357. On Downside immediate supports stands @ 5451-5420. Closing below these levels May support of 5370-5300 will come in picture. Hence, Short term is Neutral and Medium term is bearish now below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Sunday, June 5, 2011
Nifty Weekly Technical Analysis (06th-10th June)
Nifty Closing Price @ 5517
Nifty Supports @ 5451-5330
Nifty Resistances @ 5620-5757
Nifty Trend Deciders @ 5451-5610
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral and closing below 5400 & Above 5610 will make Bearish and Bullish Trend respectively. Nifty Spot failed to close Above/Below 5610 & 5400. Although Nifty gives up weekly closing gain but trend is still neutral. For next week, Nifty will face stiff resistance @ 5600-5620 zone. Most of the technical momentum indicators are mixed. There are multiple resistances between 5600-5757. Once Nifty spot closes above 5600-20 zone, It can move towards 5652-5691-5738-5777. On Downside Strong Support @ 5451-5420. Closing below these levels May support of 5370-5300 will come in picture. As long as 5451-20 holds, Trend will be neutral. Medium term is bearish now below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Supports @ 5451-5330
Nifty Resistances @ 5620-5757
Nifty Trend Deciders @ 5451-5610
Last week in our Nifty weekly technical analysis, We mentioned that trend is still neutral and closing below 5400 & Above 5610 will make Bearish and Bullish Trend respectively. Nifty Spot failed to close Above/Below 5610 & 5400. Although Nifty gives up weekly closing gain but trend is still neutral. For next week, Nifty will face stiff resistance @ 5600-5620 zone. Most of the technical momentum indicators are mixed. There are multiple resistances between 5600-5757. Once Nifty spot closes above 5600-20 zone, It can move towards 5652-5691-5738-5777. On Downside Strong Support @ 5451-5420. Closing below these levels May support of 5370-5300 will come in picture. As long as 5451-20 holds, Trend will be neutral. Medium term is bearish now below 200 DMA of 5757. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Saturday, May 28, 2011
Nifty Technical Analysis (30th May - 3rd June)
Nifty Closing Price @ 5476
Nifty Supports @ 5402-5330-5238
Nifty Resistances @ 5561-5620-5690
Last week in our Nifty technical Analysis, We mentioned that trend is still neutral and closing below 5400 & Above 5610 will make Bearish and Bullish Trend respectively. Nifty Spot hit 5328 after closing below 5400 and recovered the ground and closed at 5476 on Friday. As of now,Nifty is taking support at at crucial medium term trend-line. Trend is still Neutral. On Downside Multiple Supports @ 5402-5330. Trend will turn Bearish closing below 5380. As Long as 5402-5380 Holds, One can add contra longs with strict stop. On Upside, Major resistances @ 5530-5620. Nifty will slowly increase its bullishness while crossing many hurdles from 5530-5760. Medium term is bearish now below 200 DMA of 5760. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
Nifty Supports @ 5402-5330-5238
Nifty Resistances @ 5561-5620-5690
Last week in our Nifty technical Analysis, We mentioned that trend is still neutral and closing below 5400 & Above 5610 will make Bearish and Bullish Trend respectively. Nifty Spot hit 5328 after closing below 5400 and recovered the ground and closed at 5476 on Friday. As of now,Nifty is taking support at at crucial medium term trend-line. Trend is still Neutral. On Downside Multiple Supports @ 5402-5330. Trend will turn Bearish closing below 5380. As Long as 5402-5380 Holds, One can add contra longs with strict stop. On Upside, Major resistances @ 5530-5620. Nifty will slowly increase its bullishness while crossing many hurdles from 5530-5760. Medium term is bearish now below 200 DMA of 5760. Long term is bullish and this ongoing consolidation and corrective phase is long term time-wise correction only. Hence, One should accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame.
" Trade with Levels not with Hope "
Regards,
www.equityahead.com
www.equityahead.net
www.equityahead.in
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