NIFTY: 31 May 2012: Already quoted on 29 May 2012 for the fall of 3-5 days on the failure of 5040. Expect dip up to 4877 or 4843 before any rebound.

You must read previous articles and watch above chart carefully to understand this article completely.

I have already stated the fall may begin from 29 May 2012’s second half. Most important is that we remain away from 5040 resistance levels. It exactly moved in that manner. We are on the third day of trade today. SGX is giving all sign of gap down opening.

Its true that for intraday it tend to generate some levels which save fall for intraday for majority of trading session and reacting in last 20 minutes only. This is strongly a troubling days for traders. You all know how tough it is.

Read the above chart and watch the given levels for today’s trading session. I strongly believe on ratio analysis and here are some crucial details.

Take a recovery wave i.e. a-b-c. From 4789 to 5020 (Note that we have successfully forecasted those on time or before time). Taking retrenchment few important levels are as follow-

• 4932 – Very obviously, it will not be visible in opening minutes.
• 4904 – Gap down will give you opening near to those. (Consider 3-4 points of approximation)
• 4877 – It will be the result on the failure of 4904 on decisive break.
• 4843 – If panic hit the market then you can expect fall up to 4843. Do not forget that we are on expiry day so nothing is impossible.

Why I said earlier that 5040 will not be tested?

Reason – Make a count of 50% of down wave from 5279 to 4789. It ended @ 5034. (I do not want to force you to believe me. Believe the study).

You can note that I put the 5 wave count beginning from 5279 only and end up the 5^th wave at 4789. (All levels were successfully predicted before they hit).

Now we were in a-b-c corrective up wave.

I am repeating this again –

“Look at time cycle. We had 13 days of fall and then 8 days of rise. (13 and 8 are Fibonacci numbers). Up coming down cycle may have a life of 1, 2, 3 or maximum 5 days. I will update more about the same in my intraday analysis or tomorrow.”

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you. Intraday posts are available on www.viecapital.com only.

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates.

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889 

NIFTY: 30 May 2012: It is a failure of 5040 in the expected second half. So we may see dip for today or may be till Friday.

You must read previous articles and watch above chart carefully to understand this article completely.

I have already stated the fall may begin from yesterday’s second half. Most important is that we remain away from 5040 resistance levels. I have stated this few days back too that recovery from 4789 should come above 5000 but fail near 5040.

It exactly moved in that manner.

We need to note few important point of this recovery.

• Why have I said that 5040 may not cross? This I am saying from the day we recovered from 4789.

Reason – Make a count of 50% of down wave from 5279 to 4789. It ended @ 5034. (I do not want to force you to believe me. Believe the study).

You can note that I put the 5 wave count beginning from 5279 only and end up the 5^th wave at 4789. (All levels were successfully predicted before they hit).

Now we were in a-b-c corrective up wave.

I am not expecting any big dip right now. It will depend on the magnitude of fall today. Look at time cycle. We had 13 days of fall and then 8 days of rise. (13 and 8 are Fibonacci numbers). Up coming down cycle may have a life of 1, 2, 3 or maximum 5 days. I will update more about the same in my intraday analysis or tomorrow.

You can take few important resistances for today.

Starting with 4998 < 5021 < 5034 < 5040

Important supports will be as following –

Starting with 4956 < mild @ 4928 < 4889 (May not break)

SGX NIFTY is indicating a gap down opening with 25- 30 points. Suppose if we break 4956 on NIFTY spot then fall may continue.

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you. Intraday posts are available on www.viecapital.com only.

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates.

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889 

NIFTY: 29 May 2012: Its 8th day from 4789. Cross over of 4998 may push NIFTY towards 5040. Failure, if has to come, then it can come in second half today

You must read previous articles and watch above chart carefully to understand this article completely.

Nifty stand above 4956 and came close to the technical target of 4998. Now question is what is coming next?

We need to note few important point of this recovery.

• 4790 – I have updated this figure well in advance when market was fall. It has almost taken “U” turn from there with a low at 4788.95
• 4830 – We have not seen close below this level yet.
• Today is the 8^th day after hitting 4788.95

Technical indicators – long term technical indicator has turn positive at 4985 of Nifty.

Its is very clear that if we manage to stay above 4998 then we has higher possibility of testing a level which should be near to 5040

Split the day in two parts. One is before European market opening and other is after European market’s opening.

We will have a top before European market opening which will be crucial. Question is very obvious. Why? I have states this in past also that European market kept on giving shocks time to time. Its might be another such day.

I heard that now Spain is in fresh trouble. This was the reason that almost all European market give up from their intraday high yesterday.

If we manage to stand above the first half high (Below 12:30 pm) then we may see some decisive and significant advance on Nifty. Technical support will be at 4956 > 4940 > 4930. I hope that we will not going to break 4930 so easily as of now.

DO not forget that we are on 8^th day of recovery today so nothing is impossible in India market. I am cautiously positive. As of now SGX is coming @ 4995, which is indicating flat to positive opening.

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you. Intraday posts are available on www.viecapital.com only.

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates.

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

Notice - Regarding 'intraday updates'

As I have time limitation during trading hours so my 'intraday updates' will be first published on my official web - www.viecapital.com. 

It may be visible with some delay on www.viecapital.blogspot.com. 

Readers are requested to visit www.viecapital.com for quicker updates.

Thanks & Regards,

Praveen Kumar

NIFTY: 28 May 2012: As long as 4880 hold, we will not have any big threat of fall. Band contraction is giving support @ 4880 and @ 4830. We still need to stand tall above 4956.

NIFTY/STOCKS INTRADAY UPDATE
__________________________________________________________
02:13 Pm : NIFTY (4958)Which stocks are impressive ?JUBLFOOD - 1293 so rapidly. Once it crosses 1192, it kept on moving higher. SBIN - steady moves towards 2077 - So strong rebound in past 2 days. Weak stock - TATASTEEL  - as it has failed to come even near to 419. It may be dull index but only stock specific move can make the day. 
__________________________________________________________
02:00 Pm : NIFTY (4952)If you look even my time line, it is indicating for choppy trades. I am constantly releasing such hints. We crossed 4956 but now there is no more steam in the market to advance further. I am still not saying for weakness but mometum is missing. Buyers are able to focus just few stocks like, SBIN and JUBLFOOD. Intraday support for NIFTY is still @ 4940-4930. As long as we hold those we can expect wild rapid behaviour on index in the beginning on expiry week
.__________________________________________________________
01:00 Pm : NIFTY (4962)Nothing happening in this market in term of index. We are just able to see very limited move on stocks. We cannot search for excitment. It seems that someone has to trap, either bulls or bears. Its better to wait till market take some decision. I can still suggest that atleast one should not short as long as 4956-4950 sustain. Let it settle below those to count for weakness. LT,INFOSYS and TATASTEEL - will provide better trading opportunity in last 120 minutes of trades. __________________________________________________________
11:55 am : NIFTY (4962)Nifty has crossed 4956, it has crossed even 4960 on decisive time frame but still failing to generate momentum. I am already sensing it that market is running short with steam but technicals charts are still not weak. As long as 4956 holds we have target of 4998 but those cannot be without momentum. Nifty is still choppy and not giving opportunity. Support for intraday 4940-4930 for NIFTY spot. NIFTY MAY FUT is on discount of 13 points.I have quoted this in past too that this is the zone of multiple retrechment resistances. Hence even rise is not smooth. __________________________________________________________
11:00 am : NIFTY (4955)Nifty is still moving in a very small range. It seems that maret is running out of stream for further recovery. I am still expecting some decisive move. LT shoot up in last one hour and Infosys slipped. SBIN is still stable for gain. NIFTY has technical target at 4998 if able to sustain well above 4956. Let us see. __________________________________________________________
10:00 am : NIFTY (4950)NIfty hit a high at 4959.35. Should I consider this as decisive break? No. Breakout always refer with two term, one is price breakout and other is time breakout. I am still not on trade for intraday. SBIN has gained little in past 30 min but rest other is not impressive. Do watch two stocks for trading opportunity, Infosys and LT. I am not on trade yet
.__________________________________________________________
9:30 am : NIFTY (4945)Regular readers must be knowing that I have quoted for the resistance @ 4956 manytimes in recent days. Today's high as of first 15 min is 4955.05 which is confirming the importance of 4956. Range for first 15 min is 4930 to 4955 which is not suitable to conclude anything. We are just witnessing some strength in steel stocks,JUBLFOOD and SBIN. I have already said, 4956 is beyond speculation. __________________________________________________________

You must read previous articles and watch above chart carefully to understand this article completely.

Important development of charts –

• Nifty has saved 4789 levels and forming ‘Double bottom’ pattern as of now.
• Nifty has not closed below 4830, which is 61.80% downside from 5136 levels (5630-5136).
•  A double bottom formation with lows @ 4789 and 4803.
• 4880 – It will emerge as important support for 2-3days.
• 4956 – 50 % retrenchment of 5125 to 4789.
• 4790 = 76.40% from 5630 against the rise from 4531 to 5630. We must be opening near to this one.

 “We are still not out of threat, we seen to stand tall above 4956 (sandwiched high) to bet for confirmation for short term bottom. Will it happen so easily?”

My repeated quote is, “I never prefer to speculate of levels like 4956. Let it come to see a good confirmation for rise. Cross over of 4956 will give us levels of 4998 (61.80% from 4789 against fall of 5125 to 4789).”

I am still hoping for either choppy or an attempting market on higher side. It means that Nifty may make another attempt. It doesn’t matter where SGX Nifty is trading right now. Take a note that my recommended short on stocks can run on the trades below 4880 levels of Nifty.

NIFTY MAY FUTURE: If it manages to stand above 4940 then we can hope for further 30 points f gain, which might cause the cross of 4956 on NIFTY spot. If those happen we can expect 4998 levels in coming days.

Our intraday update will begin from 9:30 am onwards and this article will be updated every hours. Do visit again.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

NIFTY: 25 May 2012: Crucial sandwiched top is @ 4956- “Make or Break” level. Decisive crossover will give 4998 and then 5040 levels. Support @ 4880 > 4850.

You must read previous articles and watch above chart carefully to understand this article completely.

_____________________________________________________________________________________________
Intraday update - 2:30 Pm -  (4925) 
NIFTY is facing resistance in every 8-10 points. Crossed 4932 and hit a high at 4935.80 but still no firework. It seems that Nifty is tiring now. I am avoiding trades as I do not want to stuck at higher end. How higher end?
Suppose if this is a ranging market between 4956 to 4789 then surely we might be at higher end. I will buy on decisive cross.
NIFTY is under performing few crucial bluechip stocks and that is not looking good at all.  


SBIN - Good rise continues but not the time to catch again or buy at higher levels. JUBLFOOD was the show of the day


Intraday updates closed 
_____________________________________________________________________________________________

Intraday update - 12:30 Pm -  (4909) 
NIFTY crossed 4916 but again turned shy before 4932. If you remember, just few days back when we were at this levels, I said, 'its a zone of multiple retrenchment resistances.' We are facing resistances in easy 8-10 points and making the day choppy for index trading. 
Already suggested you JUBLFOOD in the morning minutes. Moving from 1175 to 1239, What a move. Even I havn't waiting that long. 
___________________________________________________________________________________________
Intraday update - 12:30 Pm -  (4911) 
Nifty has moved by odd 10-12 points in past one hours but it is still choppy and yet to cross and stand above 4916. Quoted one stock in the morning, JUBLFOOD, moved from 1175 to 1208 as of now. For nifty levels will be like - 4916 < 4932 < 4956. I am repeating we need to see cross above 4956. Support @ 4880
____________________________________________________________________________________________
Intraday update - 11:36 am -  (4900) 
NIFTY is not doing much and expected to be silent with support at 4880. Its a choppy and misguiding session. We can expect better strength above 4915-4916.
_____________________________________________________________________________________________
Intraday update - 9:30 am -  (4900) 
Its a gap down driven by some fresh global concern but now a day that a part of daily routine. There is no great signal to trade. Support for NIFTY spot will be at 4880. We can only hope that it should not be typical Friday. Few important point for today on higher side, one is @ 4932 and other @ 4956. If its ranging market then we might be nearer higher side. Still to decide. Stock like JUBLFOOD to be watched.
_____________________________________________________________________________________________

Important development of charts –

• Nifty has saved 4789 levels and forming ‘Double bottom’ pattern as of now.
• Nifty has not closed below 4830 %, which is 61.80% downside from 5136 levels (5630-5136).
•  A double bottom formation with lows @ 4789 and 4803. 

I have already said that as long as 4789 holds for nifty, one should not prefer short just above 4800 marks. We have seen a firm close yesterday with a high just above 4930.

Ratio analysis has one major important support as of now,

• 4790 = 76.40% from 5630 against the rise from 4531 to 5630. We must be opening near to this one.

 “We are still not out of threat, we seen to stand tall above 4956 (sandwiched high) to bet for confirmation for short term bottom. Will it happen so easily?”

I never prefer to speculate of levels like 4956. Let it come to see a good confirmation for rise. Cross over of 4956 will give us levels of 4998 (61.80% from 4789 against fall of 5125 to 4789).

Nifty will have technical support at 4880 (~4874) > 4850. Volatility is unavoidable so one need to deal this market very carefully.

We must note that whenever we come at 4800 levels, we have seen so much of pessimism so try to be cautious of this fact that most of the pessimism bottom came at 4800 or nearer levels.

Our intraday update will begin from 9:30 am onwards and this article will be updated every hours. Do visit again.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

NIFTY: 24 May 2012: As of now it is almost double bottom-with second bottom higher. As long as 4789 hold, its buy near to 4800-4830. Expect Nifty coming close to 4880. Cross over will add strength towards 4912 < 4930 < 4956. (UDS/INR= 56.25/56.50/57?)

You must read previous articles and watch above chart carefully to understand this article completely.

________________________________________________________________________________
Intraday updates :2:25 pm (4886)
It was a good one hour from 11:30 to 12:30 for bulls. Then next hour goes in favour of bears. Now we are at mysterious point of trading. Charts as still suggesting for recovery as long as 4853-4850 hold for NIFTY spot. We may expect soft trading move towards higher side only. Will we go near to 4912? Let us see. I have to take fresh trading decision yet. Suggest for traders, never be a compulsive bear in any bearish market as rising impulses are the past of trading system.

Next update : Closed for the day
________________________________________________________________________________

Intraday updates :1:30 pm (4865) chart updates

(Click on image to see enlarge view).
Five wave consolidation is very typical formation and well know in Elliott wave theory. on 5 min chart it was better visible (although you can get same in 15 min chart also. Explanation is given in chart itself. Even in my pre- market updates I have quoted supports as 4830 and resistance @ 4912. Both are working fine as of now. I took profit near to 4900 and now not adding anything. USD/INR is still my concern.Trade less in this kind of market. Fresh support may emerge near 4850 and then 4830. We cannot say anything about the life time of current mild recovery from 4803.

Next update : probably at 02:30 pm (Last update)
________________________________________________________________________________
Intraday updates :12:30 pm (4902)
What an hour it was. Nifty shoot up from 4848 to 4907 and Infosys shoot up from 2338 to 2382. I am sure you must have enjoyed the rise. As said, this is not a market for short as long as 4789 hold. I will buy in dip as long 4874 hold. Few traders has asked me for intraday chart, If I find time then I will try to upload in few min.
Next update : probably at 01:30 pm
________________________________________________________________________________
Intraday updates :11:30 am (4859)
Finally after 2.15 hrs we got the cross of 4854 and it is giving good signs to move towards 4880 to 4900. As informed an hour before, Infosys (2338 to 2358) turnout as first stock to attract buyers. Hope to get simple rise. I am already hesitant of shorting from yesterday.

Next update : probably at 12:30 pm
________________________________________________________________________________
Intraday updates :10:30 am (4836)
Nifty is still almost dead. It will give you feeling to trade but actually there is no trade. Take a quote, "Rather than knowing when to trade, it is even more important to know when not to trade". Be stock specific. Infosys may add fewer gain. Support - still valid @ 4803 and resistance @ 4853-4854.

Next update : probably at 11:30 am

________________________________________________________________________________
Intraday updates : 9:32 am (4843)
Nifty has opened above 4867 but practically from 9:16 onward, high was at 4853.35 only. , which was yesterday's high. It will be choppy with resistance @ 4853-4854. Support will remains @ 4803 and 4789.
________________________________________________________________________________

Nifty has saved 4789 levels and forming ‘Double bottom’ pattern as of now.

As long as 4789 hold, I will not act on short trades from lower side. I have already quoted this in my yesterday’s intraday updates. (This article will be updated every hour during market hours; do not miss to read latest updates).

Ratio analysis has one major important support as of now,

• 4790 = 76.40% from 5630 against the rise from 4531 to 5630. We must be opening near to this one.

I have already quoted for the retest of 4790 which is looking to end with an almost formation of double bottom. I must quote this also,

“We are still not out of threat, we seen to stand tall above 4956 (sandwiched high) to bet for confirmation for short term bottom. Will it happen so easily?”

We must remember that whenever we got short term low in the zone below 4800, it always come with excessive of pessimism. I am still scared for further fall but who knows that I might also be the part of those pessimistic thoughts.

(INR vs USD – My updates were released when it was 54.43 and now it is has tested 56.22. This drama seems to have a bitter climax. I will update more at suitable time. I have quoted this earlier too and repeating that this is the most distractive force for Indian Stock Market as of today. Our market has tried to show better relative strength yesterday).

Suppose if it breaks 4790, then you can expect levels of 4766 > 4740 and hen 4700 > 4685.

We must note that recovery sustains from 4789 to 4956 only and the respective retrenchment will be in action in coming few days. It is now the short term range for the market.

Do I need to mention Greece situation? It looks like a done deal for its exit from euro zone but I can tell you that it will not be so easy. Germans can speculate but it may not happen.

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

23 MAY'12: Do you know that S&P CNX DEFTY is very near to December'11 lows?

Calculation of S&P CNX Defty

(Click on image to see enlarge view)

Computations are done using the S&P CNX Nifty index calculated on the NEAT trading system of NSE and INR-USD exchange rate that is based on the real time polled data feed.

S&P CNX Defty = S&P CNX Nifty at time t * Exchange rate as on base date

                                              Exchange rate at time t

It is very clear that this index is used by FII to judge market which is running near December lows. Weak Rupee can do a lot more damage in term of sentiments. INR is hitting 56+ against USD.  RBI is running short of ideas to handle the situation and things are left on time and market. It is indicating that if above index breaks 2950-4940 kind of levels then it can see more massive fall which can be 10-15% in magnitude.

So one must be careful and prefer to stay away from investment buying in all formats. I am sure that you are aware about brutal price hike of petrol by Rs 7.50/ liter.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

NIFTY: 23 May 2012: Ready to re test of 4790 again. Further failure will push lower towards 4766 > 4740. Weakness in India Rupee will create further pressure and panic in the Stock Market. (No one can do anything now to save INR, all has given up their hand)

You must read previous articles and watch above chart carefully to understand this article completely.

Nifty has again failed at 4956, at a dot resistance.

This is again forcing me to mention fewer old support studies, which was derived by ratio analysis. These are as follow: -

• 4790 = 76.40% from 5630 against the rise from 4531 to 5630. We must be opening near to this one.
• 4766 = we have seen a vertical dip from 5125 to 4903 few days back. 61.80% further dip from 4903 will end up at 4766
• 4740 = which is the reaction of actionary wave from 5136 to 5379. Take 1.618 times from 5136 or 2.618 times from 5379. It will give us 4740.

I have already quoted this yesterday too, “I am still warning. We are not out of threat of retest of 4790.”

INR vs USD – INR is slipping below 55. Just imagine if it go to hit 57. I must add that those breakout has occurs. Technical charts are suggesting that by any chance if we break 55.25 then no one can save it. Are we heading towards FCCB defaults? Yes, we may be.

It is advisable to be on short side on trade for the retest of 4790 first. We will face stiff technical resistance at 4880 to 4900 levels. In the above chart have quoted two level as 4685 and 4520. It may take some time but those have greater chance of coming as of now.

We must note that recovery sustain from 4789 to 4956 only and the respective retrenchment will be in action in coming few days.

____________________________________________________________________________
Intraday updates (9:30 am)
NIFTY pausing @ 4830. Unexpected is nothing. Why 4830? I had mentioned this in past also.

• 4830 – I consider a wave from 5630 to 5136, both figures are well known for every single trader. 1.618 times of wave A is suggesting for support at 4830.  

It seems that it is going to hold for first hour of trades. Let us see. I am not adding any short as long as this level hold. In my view break of this 4830 is very obvious but when, that matter most.

_____________________________________________________________________________

Intraday updates (10:44 am)
NIFTY breaking 4830

• One must note breakout on two basis, one is price breakout and other is time breakout. Question is are we going to test 4790 or not? 
• You can open 5 min intraday chart for NIFTY SPOT and watch out for close below those and that must be sustaining to conclude anything. I am watching for momentum and intensity. We may have soft fall of few points but not decisive. 
• 1 USD = Rs 55.86 (Where is RBI?)

Its hard to answer but, traditionally, it is choppy first half. little up or down but it is not moving. It is just not suitable to trade. Market may be dull till 12:30 or even 1:30 pm.
_____________________________________________________________________________

Intraday updates (11:50 am)
NIFTY standing @ 4810

• As said, it was a soft fall below 4830 but we must accept that there is nothing panic like situation as of now. Nifty has a support @ 4789. Already suggested earlier for move near those. (Near to those - cannot be defined as its something which is beyond the scope of speculation). 

I am not on trade as of now, near to support. I am preferring to be in wait and watch mode only. 
_____________________________________________________________________________
Intraday updates (12:20  pm)
NIFTY standing @ 4838

• When it was not in panic like situation and moving near support, we should not have traded and I follow my rules. Nifty hit at low st 4803.95 and recovering. Above write up was enough to suggest you not to short as levels were running beyond the scope of speculation. 

I have added long on index/NIFTY FUT @ 4800 and few selected stock. Let us see.
_____________________________________________________________________________
Intraday updates (12:45 pm)
NIFTY standing @ 4833

• Probable pattern - double bottom with one @ 4788.95 and other @ 4803.95. Second bottom (today's) is still high. We can see confirmation only if NIFTY stand tall above 4850. 

As of now we are not out of dangerous zone and levels. INR hitting near 56, this is my prime concern as it is capable of destroy any recovery in any minutes. May GOD bless Indian economy. _____________________________________________________________________________

Intraday updates (02:00 pm)
NIFTY standing @ 4816


We are back to the same levels again as of morning. Nifty was just able to to hit a high at 4853 for few seconds and few attempt. As said earlier, "INR hitting near 56, this is my prime concern as it is capable of destroy any recovery in any minutes".

When our Finance minister blame Greek for all bad happening in economy then what can you expect. Problem seems to be much deeper than what it seems. We are at lower levels again. Supports for NIFTY stand @ 4803 and then @ 4789. We must accept that market try (I am saying trying, no idea how can it try) to refuse many negative cues, like weak INR and weak European trades
_____________________________________________________________________________

Intraday updates are closed for the day

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889

USD/INR: A short term study. Wake up call for Government of India. Cross of 55 will prepare for get-set-go for 57

Read this article – As published on 20 May 22, 2012

Link –

 http://viecapital.blogspot.in/2012/05/usdinr-short-term-study-wake-up-call.html

When we have published that article, USD = INR 54.43

With in two days,

It shoots up to 55.43.

If I am right we will see INR 57 much sooner than expected. RBI really interested?

May be not or may be it’s out of their hand.


Impact will be worse on equity market too. I have already expressed my fear of re-test of 4790 and it seems to be coming tomorrow only. It will not stop @ 4790 this time. We need to prepare for all new set of lower levels for NIFTY and Sensex.

Due to higher number of queries, I am re-publishing the link. Study remains same.

Do not miss to read,

Thanks & Regards,

Praveen Kumar

NIFTY:22 MAY 2012 : (Intraday updates)High as of now is 4956. This is 50% of 5124.75 to 4788.95. Another retrechment resistance. Repeating- we are in the zone of many retrechment resistances

You must read previous articles and watch above chart carefully to understand this article completely.

I am repeating the same what I said yesterday, that is, “we are in the zone of multiple retrenchment resistances”.
_______________________________________________________________
Updates as of 10:00 am 

Today’s high as of now is at 4956. It is nothing but 50% retrenchment from 5124.75 to 4788.95. You can say a mid point too. Market is expected to be affected a lot of USD/INR equation.

I cannot predict exactly about the resistance to work but I can say that there are too many such figures and hence market will feel heavy with every advancing levels.+
_______________________________________________________________
Updates as of 12:20 pm 

Yesterday panic low in last few min of trade was at 4894 and today's morning impulsive high was 4956. 
50% of 4894 to 4956 =  4925 (Check the day's low, its @ 4925.05). 
Applicable range = 23.60% i.e. 4942 to 4925. Nothing much in this zone. 
You can expect moves only if it breaks ranges on lower side. So 4924 can be decisive for fewer points of trading moves.
_______________________________________________________________

Updates as of 02:20 pm 

Nifty has broken 4924 as mentioned above and slipped towards 4890. 
Problems are coming from forex market where INR is slipping below 55 again against USD. (You can read my views on USD/INR is given link - 
http://viecapital.blogspot.in/2012/05/usdinr-short-term-study-wake-up-call.html )


We are heading towards some troublesome hours of trades. Ofcourse, for bears these are good levels. 
Charts are suggesting that break below 4880 will cause immediate fall of further 30 points. If that happens then we may see closing @ days low.

______________________________________________________________

For today, intraday updates are over. 

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889 

NIFTY: 22 May 2012: Resistance zone – 4930 to 4950. Cross over will also not able to give 5000. We are in multiple resistance zones. Low of 07 - 08 May @ 4983-4988.

You must read previous articles and watch above chart carefully to understand this article completely.

Nifty has yet to cross 4930 to 4950 resistance zone.

It took attempt but failed at 4937 and slipped very sharply in last hour trades. We are going to see gap up today so one can expect opening in the zone of 4930 to 4950 itself.

Even if we see cross above 4950 then also we will see movement towards the double low of 07-08 May 2012 which was in the zone of 4983 to 4988. Then it may switch off recovery without touching 5000.

It is very clear that this rally do not want to sustain at higher levels. (That’s the reason that we are giving up majority of gain in last hour of trades, or you can say that as those are slipping in last hour so it is not ready to sustain).

Where are support – We have support just at 4898. Break below 4898 will result fall towards 4876 and then at 4850. You all know what is going to happen next.

I am still warning. We are not out of threat of retest of 4790.

INR vs USD – INR is slipping below 55. Just imagine if it go to hit 57. I must add that those breakout has occurs. Technical charts are suggesting that by any chance if we break 55.25 then no one can save it.

This is the major concern which is already out of control. All thanks to RBI and Ministry of Finance.

Depending on market condition we will release intraday updates too. Till that time, you can post your views also so that I can present better result for you.

(If you think that other readers should also read this article then recommend this on google by clicking g+ link given below).

Read www.viecapital.com for stocks views

Follow us on twitter a/c 'viecapital' to get intraday updates. Link – www.twitter.com/viecapital

Thanks & Regards,

Praveen Kumar

Mail id – Praveen@viecapital.com

Mobile number – 09893369889