25 August 2014: Stock Chart Analysis for intraday – TECHM, KOTAK BANK and JPASSOCIAT

TECHM (2306.45)

Buy above 2315/ SL 2305/Target-2340-2370 || Sell below 2280/ SL 2290/ Target 2260-2240

KOTAK BANK (1030.75)

Buy above 1036/ SL 1030/ Target – 1045-1052 ||Sell below 1021/ SL 1028/ Target 1013-1008

JPASSOCIAT (51.80)

Buy above 53/SL 52.50/ Target 54-55 ||Sell below 51/ SL 50.70/ Target 50-49-48

NIFTY WEEKLY CHART ANALYSIS – 25 AUGUST 2014 TO 28 AUGUST 2014

Trend established on weekly chart is still intact and upward with previous weekly closing at top most point. It is showing for more steam left in Nifty for upside. One need to note that weekly strong support is at 7650-7600 based on trend line.  This is 5^th wave on Elliott chart. Diamond formation is now turning to ‘rising wedge formation’. It is meaningful with support at 7850. 101% - be caution at higher levels if it emerges near 8000 psychological mark. Although, Elliott wave resistance will be at 8132 only if it manages to stay above 7940.