Weekly NIFTY Technicals , News Letter and Stock Ideas

Markets were volatile last week.
Get NIFTY Technicals here.

No special news this week.
Adani Power IPO which was offered at Rs100 opened at 8% premium.

Sectors on which we are bullish this week :
IT.
Pharma.

Stocks to watch out for this week :

Aurobindo Pharma : Buy above 690 for targets of 720 and 735. SL of 681

MNM : Buy above 800 for targets of 820 and 845. SL of 792

TATA Motors : Buy above 430 for targets of 440 and 448. SL of 425

Happy Investing!

Read Oil India IPO Review.

{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Boom boom boom : Nifty looks strong | Weekly technical analysis.

NIFTY Showing some amount of strength.
The global cues are looking positive.

NIFTY Technicals :
NIFTY TRIN at 1.321
NIFTY Range - Between 4400 - 4850

Current Spot - 4636.5
Support - 4580 and 4505
Resistance - 4695 and 4790
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4750.



NIFTY Autogenerated technical analysis.

Read the full post...

NIFTY Technical analysis | Post Budget.

After budgets we have witnessed a huge fall on the Indian Stock markets. The fundamentals didn't support after budget.

Now every one have reduced the rating for the markets. Every one is predicting the markets to further fall down.

Last week NIFTY closed at 4003.9 just managed to sustain the 4K level.
NIFTY TRIN at 1.631
NIFTY Range - Between 3820 to 4185


Current Spot - 4003.9
Support - 3910 and 3805
Resistance - 4102 and 4221
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4100.

Read the full post...

NIFTY Technical analysis : Wekly Show.

Last week we saw volatility in the Indian stock markets. NIFTY was highly volatile.

The trend signifies NIFTY is in uptrend.
The market sentiments are positive.
Turnover have increased drastically. FII's have started buying, one positive factor which will pull up the markets in short term.

Last week NIFTY closed at 4586 and this week at 4583.4 a flat ending.
NIFTY TRIN at 1.52
NIFTY Range - Between 4420 to 4685

Current Spot - 4583.4
Support - 4495 and 4392
Resistance - 4660 and 4705
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4650 and 4740.



The next U turn in the markets can be seen after the forthcoming budget.

NIFTY Auto generated Technical analysis.

Read the full post...

Weekly Technical analysis : After the gains !

Its almost the sky limit for the Indian Stock markets isn't it !!!
The million dollar question going on every mind is that when will this rally end or even when will markets cross 18K !

What the trend signify is that NIFTY is heavily overbought.
Turnover has increased in the markets.
FII's have turned net buyers over a period of time.

Last week we saw NIFTY zooming up.
Last week NIFTY closed at 4448.85 and this week at 4586 a good gain again.
FII's participation was excellent.
NIFTY TRIN at 1.566
NIFTY Range - Between 4350 to 4695

Current Spot - 4586
Support - 4490 and 4385
Resistance - 4650 and 4720
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4620 and 4670

Chart :



NIFTY Auto generated Technical analysis.

Read the full post...

NIFTY Technical Analysis : Weekly Show !

The UPA victory changed the phase of the markets and it also changed peoples conception towards markets.
Turnover has increased in the markets.
FII's have turned net buyers over a period of time.
NIFTY Looks over brought. But the trend remains positive.

Last week we saw NIFTY zooming up.
Last week NIFTY closed at 4238 and this week at 4448.85 a major gain again.
FII's participation was excellent.
NIFTY TRIN at 0.24
NIFTY Range - Between 4210 to 4645

Current Spot - 4448.85
Support - 4340 and 4210
Resistance - 4575 and 4635
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4525 and 4670

Chart :



NIFTY Chart in the month of May basically indicates uptrend.

NIFTY Auto generated Technical analysis.

Read the full post...

NIFTY Weekly technical analysis.

The UPA victory gave a sharp movement in the markets. Couple of upper circuits and the markets were hardly open for 50 seconds on Monday.
Tuesday we saw a record turnover also witnessed by profit booking.
NIFTY Looks over brought. High volatility expected in the markets in the coming week.

Last week we saw NIFTY zooming up.
Last week NIFTY closed at 3671 and this week at 4238 a vary major gain. (In fact the maximum gain ever)
FII's participation was excellent.
NIFTY TRIN at 1.184
NIFTY Range - Between 4050 to 4400

Current Spot - 4238.50
Support - 4150 and 4080
Resistance - 4325 and 4390
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4350 and 4500.

Read the full post...

NIFTY Weekly Technical Analysis

Basically the win of Congress will surely take the markets up this Monday. It would not be influenced by more of technicals and global markets.

Last week we saw NIFTY was in a range bounded mode.
Last week NIFTY closed at 3620 and this week at 3671 a minor gain.
FII's participation was good.
NIFTY TRIN at 0.748
Over all Nifty is Range Bounded. But bullish for Monday.
NIFTY Range - Between 3500 - 3750.

Monday expect a gap up opening.

Current Spot - 3671.35
Support - 3610 and 3545
Resistance - 3735 and 3795
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Happy Investing

NIFTY Auto generated Technical Analysis.

Read the full post...

NIFTY Weekly Technical analysis.

Last week we saw NIFTY was in a bullish mode.
Last week NIFTY closed at 3473 and this week at 3620 a huge gain.
FII's participation was good.
NIFTY TRIN at 1.735
Over all Nifty is Range Bounded.
NIFTY Nature - Between 3400 - 3750.

Waiting till Election results are declared is the best strategy.

Current Spot - 3620.70
Support - 3540 and 3470
Resistance - 3725 and 3805
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty scaled the 3600 mark last Monday and went on to close the week above this level. Next medium term target zone for Nifty, if we consider the retracement of the down-move from January 2008 peak, lies between 3800 and 4000. July 2008 trough at 3790 will also be keenly watched as a possible resistance. Close below 3270 is needed to mitigate the positive medium-term view for the index.

Short-term outlook for Nifty is also positive and immediate targets are at 3730 and 3794. Supports for the week would be available at 3560 and 3460. Fresh longs should be avoided on a close below the first support.

Happy Investing!

Read the full post...

NIFTY Weekly Technicals.

Last week we saw NIFTY was in a range bounded mode. Volatility was seen. Followed by many holidays n markets.
Last week NIFTY closed at 3480 and this week at 3473 a flat one.
FII's participation was good. This participation can be reduced due to Swine Flu fear.
NIFTY TRIN at 0.42
Over all Nifty is Range Bounded.
NIFTY Nature - Wait.

Support - 3390 and 3341
Resistance - 3510 and 3585
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty closed marginally in the red after a volatile start to the week. The index could move higher to 3487 or 3517 next week. If there is a close above the second target, it would usher in a rally to 3572. Supports for the week would be at 3300 and 3170. Short-term traders can continue to buy in declines as long as the index trades above the first support.

Medium term view for Nifty stays positive and a close below 3170 is required to signal a medium-term trend reversal.

Read the full post...

NIFTY Weekly technical analysis.

Last week we saw NIFTY was in a range bounded mode. Average uptrend was seen. Followed by strong global cues.
Last week NIFTY closed at 3384 and this week at 3480 an increase of 100 points odd. A good one.
FII's participation was good.
The week was followed with good global cues and also good local cues. (Rate Cut by RBI)
NIFTY TRIN at 1.331
Over all Nifty is Range Bounded.
NIFTY Nature - Wait and Watch

Support - 3236 and 3170.
Resistance - 3550, 3636 and 3684.
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

The short-term trend in the Nifty too is sideways between 3300 and 3500. Short-term traders can buy in declines with a stop at 3250. Upper target on a break-out above 3500 are 3550, 3636 and 3684. Supports for the week would be at 3236 and 3170.

A close below 3170 would be the first indication of a medium term trend reversal. As explained earlier, a strong counter-trend rally is in force since 2539. The first target for this move lies between 3480 and 3680. If this zone is crossed, the next target zone is around 3820.

NIFTY Auto generated EOD Technicals.

Read the full post...

NIFTY Weekly technicals.

Last week we saw NIFTY was in a range bounded mode. Average uptrend was seen. Followed by strong global cues.
Last week NIFTY closed at 3342.05 and this week at 3384 an increase of 40 points odd. A moderate one.
But we saw sell off's coming from higher levels.
FII's participation was good.
The week was followed with good global cues and also good local cues.
NIFTY TRIN at 0.484
Over all Nifty is Bullish.
NIFTY Nature - Wait and Watch

Support - 3310 and 3245
Resistance - 3420 and 3510
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty made an attempt to climb above 3500 before a mild correction set in. It is difficult to determine if the movement over the last three sessions is a terminal corrective or a running correction. According to both the counts, sharp moves can be expected in the week ahead. As explained before, if the move from the 2539 low is the B wave of a long-term bear market, its first targets would lie in the zone between 3480 and 3680.

Since Nifty is already at this zone, it would do to stay extra vigilant.

The short-term trend however continues to be up and traders can buy in declines as long as the index holds above 3300. A firm close below 3100 is needed to indicate that the medium-term trend is reversing lower. Upper targets for the week are 3550 and 3684.

NIFTY Auto generated EOD Technicals.

Read the full post...

NIFTY Weekly Technical Analysis.

Last week we saw NIFTY was in a bullish mode. A good uptrend was seen. Followed by strong global cues.
Last week NIFTY closed at 3211.05 and this week at 3342.05 an increase of 130 points odd. A good one.
The week was followed with good global cues and also good local cues.
NIFTY TRIN at 0.566
Over all Nifty is Bullish.
NIFTY Nature - Heavily Over Bought

Support - 3150 and 3100
Resistance - 3425 and 3510
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty recorded the intra-week peak at 3401 and ended with a 131 points gain. The doji formation in the daily chart and the halt below the 200-day moving average at 3441 implies indecision in the short-term. A short-term correction can pull the index down to 3234 or 3131. Fresh longs should be avoided on a decline below the first support. Medium-term view will, however, turn negative only on a close below 3000.

Immediate targets for the current rally are 3326 and 3450. If there is a vertical break-out above 3450, next target would be 3911. However, targets for the B wave of the long-term down-move from the 6357 peak are 3680 and 4050. These could be the ceiling for the index for this calendar.

NIFTY Auto generated EOD Technicals.

Chart -

Read the full post...

NIFTY Weekly technicals

Last week we saw NIFTY was in a bullish mode. A good uptrend was seen.
Last week NIFTY closed at 3108 and this week at 3211.05 an increase of 100 points odd. A good one.
The week was followed with good global cues.
NIFTY TRIN at 0.482
Over all Nifty is Bullish.

Support - 2970 and 2820
Resistance - 3325 and 3420
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty flirted with the 3200-mark on Friday and closed slightly above it. This does not qualify as a break-out. Since this level has been the ceiling for the index over the last five months, we would like to see a close at least 2 per cent above 3240 before we can start celebrating.

Immediate targets for the wave from 2539 trough are 3189 and 3287. To put it in simpler terms, one leg of the up-move from the 2539 trough could be drawing to a close. But a strong move above 3287 will imply a wave extension that makes the index can race towards 3326 or 3450. The 200-day moving average also present at 3450 will be the level that most participants will aim for on a strong move above 3287.

Supports for the week are at 2970 and 2820. Short-term traders can hold their longs as long as Nifty trades above the first support.

Read the full post...

NIFTY Weekly Technicals.

Last week we saw NIFTY was in a bullish mode. A good uptrend was seen.
Last week NIFTY closed at 2807 and this week at 3108 an increase of 300 points odd. A good one. 
The week was followed with good global cues.
NIFTY TRIN at 1.424
Over all Nifty is mixed.

Support - 2990 and 2918
Resistance - 3140 and 3240
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Though the Sensex is below its November 2008 and January 2009 peaks, Nifty has already reached these resistance levels that lie between 3140 and 3240. 38.2 per cent retracement of the recent leg of the down-move also gives us the resistance at 3200.

We have also been reiterating that the upper end of the medium-term trading range in the Nifty is around 3200.

In other words, Nifty is at decisive level.

A strong break above the 3240 level will mean that the index is in a strong counter-trend rally that can take it higher to 3500 or even 3800.

However, a reversal from the 3200 level can drag it lower to 2500 again. Short-term supports are at 2990 and 2918. Fresh longs should be avoided on a decline below the first support.

Medium-term investors can stay sanguine as long as the index holds above 2800.

NIFTY Autogenerated Technical Analysis

Read the full post...

NIFTY Weekly Technicals

Last week we saw NIFTY was in a rangebounded mode.
Last week NIFTY closed at 2719 and this week at 2807 an increase of 90 points odd.
The week was volatile.
NIFTY TRIN at 1.118
Over all Nifty is bearish.

Pivot - 2824
Support - 2720 and 2660
Resistance - 2902 and 2945
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty struggled with the psychological resistance at 2800 last week; reversing from an intra-week peak at 2836. But the correction so far has been extremely mild and the index has been meandering in a narrow band between 2770 and 2820 in the last two sessions. Traders need to exercise caution until the index records a strong move above 2800. For a reversal from here will cause a medium term decline to 2570 or lower. Short-term supports for the index are at 2720 and 2660. Stop-loss for long positions ought to be at 2700.

A strong move above 2800, on the other hand, will take the index to 2946 or 3054 in the near-term. Fresh long positions should therefore be initiated only on a strong move beyond 2820. It however needs to be remembered that a run-away rally is not likely in the Nifty yet since the medium-term ceiling for the index could be at 3000 or 3200.

CHART -



NIFTY Autogenerated Technical Analysis

What do you think who will win the General Elections ? Cast your vote here.

Read the full post...

NIFTY Weekly Technicals.

Last week we saw NIFTY was in a rangebounded mode.
Last week NIFTY closed at 2620.15 and this week at 2719 an increase of 100 points.
The week was volatile.
NIFTY TRIN at 0.538
Over all Nifty is rangebounded.

Pivot - 2720
Support - 2645 and 2590
Resistance - 2800 and 2845
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Over all mode "Volatile"

Nifty held above the support at 2502 last week and rebounded strongly on Friday to end the week up 3.7 per cent. Nifty needs to make a little more headway before the short-term outlook turns positive. Key near-term resistance for the index is at 2800. Presence of the 50-day moving average at this level adds to its significance.

Failure to move above 2800 will imply that the near-term outlook for Nifty stays negative and the index can reverse down to decline to 2500 or 2252. However, a close above 2800 will make the near-term view positive for Nifty. Such a move will indicate that the index can move higher to 3000 or 3250 over the medium-term.

CHART -

Read the full post...

NIFTY Weekly technical analysis.

Last week we saw NIFTY was in a rangebounded mode.
Last week NIFTY closed at 2763 and this week at 2620.15 a decrease of 150 points odd.
The week was volatile.
NIFTY TRIN at 3.045
Over all Nifty is Bearish.
5 day EMA at 2646.68

Pivot - 2597
Support - 2595 and 2490
Resistance - 2691 and 2745
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Over all mode "Volatile"

The medium-term outlook for the index is negative and this view will be mitigated if Nifty closes above 3000. Last week’s move signals that the long-term down move from last January’s peak could have resumed that can take the index down to 2252 or 2172.

Chart -

Read the full post...

NIFTY Weekly Technical Analysis.

Last week we saw NIFTY was in a negative mode.
Last week NIFTY closed at 2736 and this week at 2763 an increase of 30 points odd.
The week was volatile.
NIFTY TRIN at 0.771
Over all Nifty is of Mixed Nature.
5 day EMA at 2767.44

Pivot - 2749.65
Support - 2690 and 2625
Resistance - 2815 and 2895

NIFTY 1 month target 2915
Over all mode "Volatile"

NIFTY target for Next week - 2825 (NIFTY can touch this point and can come down)

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2756	2765	2821	2822	2837	2869	3685

Chart -



NIFTY Autogenerated technical analysis Click Here.

Happy Investing.

Subscribe for free Email Updates - Click here.
Free SMS Updates subscribe - Click here

Read the full post...

NIFTY Weekly technical analysis.

Last week we saw NIFTY was in a negative mode.
Last week NIFTY closed at 2948 and this week at 2736 a decrease of 200 points odd.
This was due to bad global cues.
NIFTY TRIN at 2.154
Over all Nifty bearish.
5 day EMA at 2813.56

Pivot - 2701
Support - 2620 and 2575
Resistance - 2810 and 2875

NIFTY 1 month target 2875 (Revised)
Over all mode "Extremely Volatile and Bearish."

NIFTY target for Next week - 2795 (NIFTY can touch this point and can come down)

Simple moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2784	2836	2844	2826	2854	2883	3733

Chart -



NIFTY Autogenerated technical analysis Here (LINK)

Read the full post...