Vie Capital: 01/01/2015

Friday, 30 January 2015

30 January 2015: Nifty Elliott wave analysis: 9000 NIFTY may be on hunt today. I still advise caution after 10 days of positive close in a row.

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

For 30 January 2015: -

On 29 January 2015, FII Bought INR 1723.77 crs and DII Sold INR 1680.09 crs

Derivative expiry goes wild only in last 60 minutes of trades with short covering rise. Eventually it goes with 10 positive closes in a row. So big and so massive! It seems that there is nothing called over sold. Nifty is neat to 9000 levels again. I like to see market reaction today if it really comes at 9000 levels.

This market is expensive at these levels as said by fundamental people too. I am advising strong caution at these kinds of levels. Something must come to stop this kind of rally. I always say, “Correction used to hit on come when least people expect about it and most of time reason of correction is also unknown before event”. It’s a dollar liquidity which took market to these levels.

For today’s trading session, 8985 and 9000 are going to be key resistance. What’s if it crosses above 9000? It will just be interesting to see. I have no overnight position and I am ready to take fresh position for February month. I still believe January rally used to result a yearly top in first two month itself.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – I still expect a flat start even after rally in US market. As it came higher with lower premium then I believe that people has forwarded shorts. Technical charts are suggesting for resistance to emerge at 9040 and 9070 levels. I may opt to short higher levels. Just like I did two days back.

S&P 500 (USA) – It rebounded again from 1990 support and closed with good gain, again. So what to conclude next? I say it’s the bull’s attempt which is saving market. I say, it used to come and it will come. Especially, if it trades near any crucial supports, like 1990. On higher side it will face resistance at 2040 and then at 2060 levels. A dip is expected and it will come again. Every rise will get sold.

30 January 2015: Stock Chart Analysis for intraday: BPCL, ANDHRABANK and HDFC

BPCL (733.85)

Buy above 738/SL 732/ Target 748-755|| Sell below 726/ SL 731/ Target 715

ANDHRABANK (90.15)

Buy above 92/SL 91.20/Target 93.50||Sell below 89.50/ SL 90.50/ Target 87-86

HDFC (1315.55)

Buy above 1330/SL 1322/Target 1342-1350||Sell below 1305/ SL 1313/ Target 1280

Thursday, 29 January 2015

29 January 2015: Nifty Elliott wave analysis: Derivative expiry today. Trade limited for intraday. Key support = 8870, Below 8870 expect 8800 !!!

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

For 29 January 2015: -

On 28 January 2015, FII Bought INR 1723.17 crs and DII Sold INR 1292.70 crs

Yesterday’s high on Nifty was 8985 levels followed by almost 100 points sell off from intraday high point and closed flat. This is DOJI formation which is usually is topping sign. Indian market is 7% higher than its 100 DMA while US market is travelling below its 100 DMA. This kind of outperformance never sustained for long in past. It will be interesting to see how long this can sustain this time.

We have derivative expiry for January month series today. What we have seen in first half yesterday was a short covering. If shorts are covered then we can expect long unwinding. One think is sure that we can expect 100 points trading range for today.

For today’s trading session, 8870 will be a key level to watch. Below 8870 we can expect a move towards 8800 too. On higher side, we can expect stiff resistance at 8940 and 8985 levels. If we get follow up of yesterday’s selling then we can expect 3-4 days sell off. Just take a note that it was more than 800 points rise in one go so even if it got sold by 300 points then also, people will say its profit taking. In reality it is not. It is a toppy formation.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – SGX Nifty is giving hint for weak opening near 8930 levels. If this happens then bears may have a good chance of dragging it lower further near 8900 levels. I say not to act for intraday as it is derivative expiry. One can expect resistance at 9000 levels. Let us see what we get.

S&P 500 (USA) – I have already said that direction is in bear’s hand now and a move is likely towards 1990 to 1980 levels. We saw close near 2000 levels. Do you now that S&P has again broken 100 DMA which is at 2010 levels. It has 200 DMA at 1972 levels. So, all crucial moving averages are coming closer in this more than two month’s consolidation. Every bounce got sold near to or above 2050 levels. This is itself a bearish formation. It is matter to time to see a break below 1972 Sooner or later, this is supposed to happen.

29 January 2015: Stock Chart Analysis for intraday: DLF, TATASTEEL and HFCL

DLF (163.05)
Buy above 165/SL 163.50/ Target 170|| Sell below 159/ SL 160.50/ Target 155

TATASTEEL (391.15)
Buy above 397/SL 395/Target 402-405||Sell below 389/ SL 392/ Target 384-380

HFCL (16.80)
Buy - Never||Sell below 16.30-16.00/ target 12-10-8-6

Wednesday, 28 January 2015

28 January 2015: Nifty Elliott wave analysis: Derivative expiry is coming tomorrow for January month series. High chance is that Yearly top is hitting in January month itself or maximum by early February!!! 101% CAUTION ADVISED !!!

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

For 28 January 2015: -

On 27 January 2015, FII Bought INR 953.51 crs and DII Sold INR 783.34 crs

People were talking about 9000 marks for Nifty by December 2015 or maximum by March – April in post budget days. Well, denying all expectations, it almost came by January itself. It is euphoric jump in market by bulls. Whenever bulls turn so mad, it is time to make exit from the market. I used same phrase every time.

I was expecting correction to some from 8750 levels which turned wrong and now nifty is above 8900 levels also. We got a deeper cut last night with almost 300 points dip on DJIA. Think – SGX Nifty is almost unchanged. Indian market has denied past three days fall in US market. Question is how long can it do this?

Technical charts are just up and it will remains up as long as it is fails to give at least one negative close. Take note that Indian market has given eight positive close in a row. I still take 8800 as key support as well as trend reversal support which is almost 110 points from current levels. Have a look on given chart. Nifty has general tendency of staying near to 100 DMA whenever correction used to come. 100 DMA is now at 8278. It is almost 7% away from current levels. Hence, 101% be cautious. We have derivative expiry tomorrow.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – SGX Nifty is giving hint for flat start which will itself going to be achievement after US market selloff. I am strongly suggesting to avoid trades or one must avoid all possibility of long trades. Corrections used to come when least people expect about it. It is true that its technical support stand only at 8810 to 8800 levels.

S&P 500 (USA) – It is down by 1.40% last night. It is a good dip which has transfer the direction to the bear’s hand. On medium term chart too we have yet to see the break of 1990-1980 support. As of now I am expecting this to test those support. I am almost right on take on US market. A correction which was expected has begun on 23^rd January 2015 itself. I just hope this to begin in Indian market too.

28 January 2015: Stock Chart Analysis for intraday: ANDHRABANK, TATASTEEL and RELCAPITAL

ANDHRABANK (91.35)
Buy above 93.50/SL 92.75/ Target 95|| Sell below 90.25/ SL 91/ Target 89-88-86

TATASTEEL (398.40)
Buy above 405/SL 403/Target 410-413||Sell below 395/ SL 397/ Target 389-386

RELCAPITAL (475.45)
Buy above 481/ SL 476/ Target 488-495||Sell below 472/ SL 476/ Target – 465-460

Tuesday, 27 January 2015

27 January 2015: Stock Chart Analysis for intraday: ANDHRABANK, BHEL and LT

ANDHRABANK (91.50)
Buy above 93.50/SL 92.75/ Target 95|| Sell below 90.50/ SL 91.25/ Target 89-88

BHEL (279.10)
Buy above 282/SL 279/Target 286-289||Sell below 277/ SL 279/ Target 272-270

LT (1711.30)
Buy above 1717/ SL 1709/ Target 1730-1750||Sell below 1699/ SL 1708/ Target – 1680

27 January 2015: Nifty Elliott wave analysis: We are near to short term top but top has yet to confirm. NIFTY support stand at 8800-8780 levels.

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

For 27 January 2015: -

On 23 January 2015, FII Bought INR 2019.98 crs and DII Sold INR 1299.76 crs

Once again, good news flow continues. It seems that market want to take advantage of good sentiments building up after Indo-US nuclear deal. I am saying it is just changing sentiments. It will take a bigger time to give any impact on economy. What is the use of this kind of deal when US companies has themselves not installed any nuclear plan in US since 1986. I am taking this as some desperation for improvement by Indian government which will help Indian market to sustain current optimistic levels for some time more.

I am wrong on correction call but I am definitely saying that we are close to 200 points of correction from levels. It is true that Nifty may come near 8900 as of now. I am not going to jump on stocks to buy at higher levels. I will prefer to be on side line or will add fewer long on puts to take limited risk. Technical support is at 8780 levels.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – Week will open on optimistic note again. Technical charts are just not so meaningful after so many gaps up and so many DOJI formations. We still have no correction yet. All we are getting in positive close one after another. Expect stiff resistance at 8870-8880 levels. I can expect correction only if it can sustain below 8800 for 15-30 minutes.

S&P 500 (USA) – Us market is doing nothing on little broad time frame. Technical charts are suggesting that bulls has not yet taken full control after series of rate cut in other part of the world. Well, but above 2075 it can gather many strength which will be definitely against my expectation. On other hand, desired correction will begin if we see close below 2035 levels. Expect a challenging week.

Friday, 23 January 2015

23 January 2015: Nifty Elliott wave analysis: Prepare to handle another gap up and 13th day from the low of 8065. I still hope to see this as short term pop up top.

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

For 23 January 2015: -

On 22 January 2015, FII Bought INR 592.79 crs and DII Sold INR 578.53 crs

Near to 8750, I have a view for price correction with crucial Fibonacci resistance emerging at higher end. Suddenly world is in full rush with events like series of rate cut and a newer stimulus. I had few Nifty put to try the luck before yesterday’s big event, where I am surely going to lose money. Nifty is likely to surpass 8800 and 8800 may not be visible in opening minutes. It means, we have another gap up. Whatever momentum says but this is simply a dangerous market to trade.

Just think – it is going to open near 8850. Where is the opportunity to trade long? I had few important Fibonacci resistances where I am failing on my correction call. I will not trade with this gap up again. Today is 13^th day from the low of 8065. It can be easily said that Nifty has almost given 10% rally in 2015. Take a note that a 10-11% rally is maximum for a single wave historically.

I am wrong on correction call but I am definitely close to get a top. I have no trade and levels for today. It can open here and there 8850. I like to watch the developments. Let us see what is coming now. Participating in over stretched rally can give money but those money comes with full of high risk.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – Nifty is likely to open higher by 70-80 points. It will not easy to deal afterwards. I had few 8700 put as I took small risk. I am willing to hold but no planning to average it. How much higher can Nifty extend without correction? I already had a view yesterday that a short term top may come in the day or two. Today is second day. I hope to see a top. If this happens then a sell off is likely after gap up.

S&P 500 (USA) – Fine, it happened and goes against my expectation, no matter how. We got a close above 2060 levels. I was hoping for a last pop up rise before sell off. A big series of rate cut and stimulus came to save global market and making stocks cheaper even at life time high. I have no idea how history will name these events. I have no take for the day. I like to first observe today’s move.

Thursday, 22 January 2015

22 January 2015: Nifty Elliott wave analysis: Even after a possibility of 8900 I would say, a pullback is coming in a day or two just because this rally is largely based on one stock called HINDUNILVR!!!

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

For 22 January 2015: -

On 21 January 2015, FII Bought INR 1275.59 crs and DII Sold INR 761.60 crs

It has built up too much momentum in very short time frame. There is no single negative close in past 500 points of rise. In general, I can be bullish after this rise too but here is a fact. We have nearly 150 points gap up on 15^th January 2015 due to sudden rate cut by RBI. This gap up is very close to give a trouble to this market.

Elliott wave theory is still saying for rise to continue but it is going to lose its momentum somewhere. If this has to happen then today is best possible day for consolidation based correction. Logically, it has built up five trading sessions in a row. Most important is that the participation was just from key blue chip stocks like sometime by HINDUNILVR or sometime by HDFC. Low participation is a sign of correction. I mean how long I can expect HINDUNILVR based rise. It has already moved from 760 to 950.

For today’s session also we may expect gap up opening. Now, I am expecting a top to emerge for consolidation. Take a note that most global market is on very crucial Fibonacci levels. Whatever the opening comes, we have a chance of seeing a red close today. If it slides below 8700 then it can surely invite a possible price correction. Resistance on moving higher will be 8750 and 8770.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – SGX Nifty is hinting me for higher start which is nothing but traditional. 50% of past 500 points of rise almost goes in gap up only. This does not make too much sense but January month is known for this kind of activities. Technically 8770-8780 will be resistance point. Cross above 8780 can result 8830. Below 8700, we can expect meaningful correction. sooner or later, in a day or two, it is coming.

S&P 500 (USA) – It is the same pop up which I was talking yesterday. The chance is big that it is going to invite bulls to ride on it and then go for some wilder sell off. As of now it looks like this rise will end somewhere near to 2045 levels. I feel that it will give a rise in the very first half today and then it will go in sell off mode by today itself. A big red candle can come in maximum of two trading sessions.

22 January 2015: Stock Chart Analysis for intraday: DLF, HEXAWARE and TATASTEEL

DLF (143.70)
Buy above 146/SL 145/ Target 148-149|| Sell below 142/ SL 143.50/ Target 140-138

HEXAWARE (225.00)
Buy above 227/SL 225/Target 232-235||Sell below 222/ SL 223/ Target 219-217

TATASTEEL (397.10)
Buy above 400/ SL 398/ Target 405-408||Sell below 393/ SL 395/ Target – 386

Wednesday, 21 January 2015

21 January 2015: Nifty Elliott wave analysis: Life after new all-time high – A possibility emerging for a move towards 8900 before expiry itself.

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

For 21 January 2015: -

On 20 January 2015, FII Bought INR 1275.59 crs and DII Sold INR 761.60 crs

Market has built up its momentum after a huge gap. How many times this happened in past? I can say that it has happened many times. Usually, I used to say those can bull’s gap up. Cross above 8630 has generated a fresh up wave. After multiple gap up, it was not easy to buy and it will not easy too to buy.

Elliott wave theory was saying for a challenging test of 8630 and we got those too. Wave theory is suggesting for minimum target to come at 8750 levels. I still believe that if market able to make above this breakout then 8900 will also be a possibility till this expiry.

For today’s session also we may expect gap up which is going to be traditional but irritating. I am presenting my study assuming that gap up will come. Now support if it opens with gap up of 30-40 points then wait one pullback of 20-30 points and opt to buy with stop loss depending on intraday condition. Definitely it should not be big one. As of now, stop loss can be near to 8630 levels which will act as good support now.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – SGX Nifty is hinting me for higher start. Every day it is 30-40 odd points which make intraday traders uncomfortable. I still say, buy in dip and keep stop loss in the zone of 8680 to 8690 levels. Never make a mistake of shorting at any cost.

S&P 500 (USA) – It has again bounced from a low which was above 2000 marks. It is giving me a sense that market may want to have one more bounce before fall. As long as it holds 1990 it may invite a pop up bounce which is already on but overall topping pattern cannot be denied. This topping pattern may have some price consolidation. How long these consolidations can continues? Well, answer can be 2 to 4 weeks. Do not short in this pop up move.

21 January 2015: Stock Chart Analysis for intraday: ANDHRABANK, TATAMOTORS and TATASTEEL

ANDHRABANK (93.35)

Buy above 95/SL 94/ Target 97-98|| Sell below 92.50/ SL 93.50/ Target 91-90

TATAMOTORS (559.20)

Buy above 562/SL 558/Target 570||Sell below 549/ SL 553/ Target 542-539

TATASTEEL (402.00)

Buy above 404/ SL 402/ Target 408-411||Sell below 396/ SL 399/ Target – 391-389

Tuesday, 20 January 2015

20 January 2015: Nifty Elliott wave analysis: Will it take out all-time high in one go or will it go for consolidation. Support for consolidation will be at 8450-8400 only.

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

For 20 January 2015: -

On 19 January 2015, FII Bought INR 433.72 crs and DII Sold INR 237.71 crs

We got gap up three sessions back and since then market saw three positive closes. It is remarkable that we saw Nifty narrower trading day in every session. This is some time known as ascending triangle pattern. Not always but sometime this turn out to be a topping pattern. I trying shorting on index yesterday but failed to get any gain. I still believe that a top is near if Nifty fails to clock a newer all-time higher. Hence, from here, resistance is at 8600 and 8630 levels. We have scope to see a fall at least towards 8450 to 8400 levels.

Elliott wave theory is saying that above 8445, Nifty can challenge its previous all-time high. It means that we may in striking distance of 8626 by early this week. It used to open two way analyses if it comes near 8629. First is another 250-300 points run on higher side to claim for 8900. Another is, if it turns shy near 8629. It can result a quick fire profit taking. There is no way to claim in advance at such levels so let it come. I must add that a newer wave will be applicable on higher side only if it can move above 8630. So, if one want to take long from 8550+ levels then it is better to wait for next 1% upside to come as confirmation.

For today’s session, it should not go on gap up anymore now. Even if it comes then also 8600 and 8630 should be crucial resistances. In the down side trades below 8520 should generate a caution in this advancing rally. Take a note that we will have a higher low pattern which is a sign of bullish move. Trade above 8630 will give a view that we will have higher high pattern too. This will make market bullish and move bullish. So, call for correction is just because of the possibility of consolidation before any big rally.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – If Nifty opens in flat range then we will see some trading resistance emerging at 8600 and then at 8630 levels. Technical support will emerge at 8530 to 8510 levels. It seems that break below 8510 should generate some good price correction. I advise strong caution for the day on higher levels.

S&P 500 (USA) – A bounce came exactly from 1990 support again and it came on the time when it almost gave a sense of give up. What shall we conclude with this bounce from 1990? It is still showing signs that market will put its best effort to save. As long as it holds 1990 it is showing direction as up. How long can this continue? Answer is as long as market wants. I am not optimistic for second half of January. Bears are coming!!!

20 January 2015: Stock Chart Analysis for intraday: SBIN, HINDUNILVR and RELIANCE

SBIN (313.15)

Buy above 318/SL 316/ Target 322-324|| Sell below 312/ SL 314/ Target 308-304

HINDUNILVR (892.55)

Buy above 902/SL 896/Target 909-916||Sell below 885/ SL 891/ Target 875-870

YESBANK (824.95)

Buy above 829/ SL 824/ Target 840-845||Sell below 818/ SL 823/ Target – 810-805

Monday, 19 January 2015

19 January 2015: Stock Chart Analysis for intraday: LICHSGFIN, HINDUNILVR and RELIANCE

LICHSGFIN (487.05)

Buy above 488/SL 483/ Target 500-510|| Sell below 479/ SL 483/ Target 470-465

HINDUNILVR (941.05)

Buy above 948/SL 942/Target 960-964||Sell below 934/ SL 939/ Target 926-923

RELIANCE (869.70)

Buy above 872/ SL 868/ Target 880-886||Sell below 863/ SL 867/ Target – 856-852

19 January 2015: Nifty Elliott wave analysis: Charts says that above 8445, Nifty should challenge all-time high. Then, it will be make or break story.

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

For 19 January 2015: -

On 16 January 2015, FII Bought INR 1099.93 crs and DII Sold INR 716.91 crs

Indian market is still enjoying the bull’s ride which begins after surprise rate cut. Technical charts are not giving any negative signal as long as it is staying above 8445 levels. Remember, firstly it was Elliott wave resistance which was surpassed in wild gap up.

For today’s session, it will get gap up opening after some good corporate numbers. If it opens in the range of 8600 then I will go on silent mode for intraday again. It may never be easy to deal after gap up of more than 50 points in general. I have no positions and I am free to pick a direction.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – SGX Nifty is saying for opening in the range of 8600. So, if this happens then intraday traders have nothing great to do. Just go for Holiday. I am taking this rise as make or break. One cannot short this kind of momentum. Equally, you may not get any dip to buy either.

Friday, 16 January 2015

16 January 2015: Nifty Elliott wave analysis: Caution is still alive for second half of this month. Global market goes in same way. Hang over of rise in post rate cut may extend little more.

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

For 16 January 2015: -

On 15 January 2015, FII Bought INR 1738.24 crs and DII Sold INR 527.27 crs

So it was RBI who came to save Indian market from a possible sell off. Market enjoyed to its great extent. There is no question is how it came. Fact is that it came to make a possible breakout but unfortunately it has no global support. We may see relative strength in Indian market for few days. If global market slips by 2% then Indian market will by 1% but it will also slip.

It has surpassed the Elliott wave resistance which was at 8445. Such blow up gap us used to sustain for few days before giving up. We need to understand RBI’s stand too. Are they really convinced with lower inflation and possible higher growth? I give you other way to think about this sudden change in RBI’s governor’s mind. Was it driven by economy data or was it driven by politics? I clearly say that RBI has done things in hurry. Government has not yet passed benefit of fall in crude oil price to even 25% yet.

For today’s session, it will get some gap up opening as yesterday’s hangover but all global market futures are in deep red. Technical resistance will come at 8530 to 8550. Cross above 8550 will give a challenge to all-time high which is at 8629 levels. My words of caution are still alive.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – I just do not prefer to trade this kind of euphoric gap up opening which came yesterday. It is killing most of the time and running with great volatility. Technical resistance for NIFTY January month future is at 8570. It can show fresh strength only above 8570 now. I am considering that opening can go around 8530 levels. Note tht my words of caution for second half of January is still alive.

S&P 500 (USA) – I said,” If it stands below 2000 on closing basis then it will give a weapon in the hand of bears”. Now, it really gave a weapon. If you remember, it was already quoted for strong caution for second half of this month. It is showing all true symptoms now. It seems that it can easily slide towards 1950 by very early next week. Do not opt to buy dip now.

16 January 2015: Stock Chart Analysis for intraday: SBIN, BHEL and DLF

SBIN (320.30)
Buy above 325/SL 323/ Target 330|| Sell below 317/ SL 319/ Target 314-311

BHEL (268.90)
Buy above 272/SL 270/Target 275-277||Sell below 267/ SL 269/ Target 263-261

DLF (147.80)
Buy above 149/ SL 148/ Target 152-155||Sell below 145/ SL 146.50/ Target – 142-140

Thursday, 15 January 2015

15 January 2015: Nifty Elliott wave analysis: Leaving 50 DMA as resistance is a sign of price fall in near term. Once again, second half of January demands caution at higher levels.

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

For 15 January 2015: -

On 14 January 2015, FII Sold INR 69.74 crs and DII Sold INR 223.98 crs

It has failed to break 50 DMA on higher side and a sell off hit from higher levels again. We saw a wild last hour of trade and all has happened due to just one stock. It was HINDUNILVR again to save index. It has gained over 4.50% to save Nifty form any bigger cut. Think – from 760 to 934 without price correction. It is not easy to deal.

Based on Elliott wave theory we are in corrective up wave ‘c’ which will also be divided in three waves as shown in given chart. It has fulfilled the condition of top of wave ‘c’ in wave (b) itself. Big question is that if this is only the pullback in wave ‘c’ then we may not see the violation of 8445.

We saw another sell off in US market again last night. It is fair to say that at the beginning of year 2015, US market is struggling to settle at higher levels. This may be early sign of weakness.

For today’s session, it will get some gap down opening due to lower close in US market last night. Technically, zone of 8250 to 8235 will act support in dip. Somehow it is suggesting me that Nifty can go around 100 DMA supports which are near to 8150 levels. Technical resistance will be at 8300 and 8340 levels.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty January future – One can expecting around 8280 to 8270 levels. Yesterday’s low of 8244 will be a key support. If it can sustain below 8240 for 5-10 minutes then expect a panic sell off which can result for a move for 100 to 150 points of sell in coming few days. Do not buy rise as it is designed to get support from just one stock. How much more has left for HINDUNILVR.

S&P 500 (USA) – Somehow bulls are looking under trouble. It has traded below 2000 levels also but recovered from low. It is too early to conclude for change in trend but equally it is not giving comfort to anyone. I still believe that second half of month may be different. For second half of the month – if it stands below 2000 on closing basis then it will give a weapon in the hand of bears.

15 January 2015: Stock Chart Analysis for intraday: RELIANCE, RELCAPITAL and MARUTI

RELIANCE (834.95)

Buy above 842/SL 836/ Target 854|| Sell below 829/ SL 833/ Target 818-810

RELCAPITAL (448.95)

Buy above 454/SL 451/Target 460-465||Sell below 446/ SL 450/ Target 438-432

MARUTI (3516.00)

Buy above 3532/ SL 3524/ Target 3560||Sell below 3499/ SL 3513/ Target – 3470-3460

Wednesday, 14 January 2015

14 January 2015: Nifty Elliott wave analysis: If trading on Nifty spot sustain below 8260 any moment then we can expect the beginning of price correction against recent recovery.

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

For 14 January 2015: -

On 13 January 2015, FII Bought INR 235.09 crs and DII Bought INR 46.06 crs

I have advised caution at higher levels. Reason becomes clear now after seeing the dip in last hour yesterday. It hit a high at 8356 levels before seeing a fall to hit 8268 levels. It was very sharp. Take a note that 100 DMA is at 8158 levels which is almost 2% from current levels.

50 DMA is at 8342 as of now which is advancing. This will act as stiff resistance for today’s trading session also. We saw fall in US market also from higher levels yesterday night. We have no great sell signal yet on the market but it may be coming sooner. I have already advised caution for second half of this month.

For today’s session, it will get a fair opening without any big gap. Technical support will emerge at 8280 and 8250. I say, if it can stand and spend time below 8320 then we can expect another sharp cut from these higher levels. Take a note that this rise has dominated by just one index heavy weight HINDUNILVR. This is suggesting that index can be more volatile if price corrects.

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Strategy for Nifty January future – We can expect opening go around 8340 levels. Expect technical support at 8320 and at 8270. It may not provide any easier trade sooner. I am again advising caution at higher levels again. Question is – can Indian market able to show better relative strength?

S&P 500 (USA) – This dip from higher levels is again giving shocks to bulls. Bulls have hope as long as it holds 2000 levels. This is still making some sense that something is changing. No matter up or down but range become wider compared to second half of last year. Technically, I am not buying as of now but I will plan to review for buy if it tries to save 2000 in this dip. One must note that 2000 must be a compulsive stop loss for all long.

14 January 2015: Stock Chart Analysis for intraday: SBIN, TATASTEEL and HINDUNILVR

SBIN (305.10)
Buy above 308/SL 306/ Target 312|| Sell below 304/ SL 306/ Target 300

TATASTEEL (391.50)
Buy above 395/SL 393/Target 399-402||Sell below 389/ SL 392/ Target 384-380

HINDUNILVR (884.55)
Buy above 893/ SL 888/ Target 900-902||Sell below 878/ SL 883/ Target – 870-865

Tuesday, 13 January 2015

13 January 2015: Nifty Elliott wave analysis: Above 8335 it can again try to move forward towards 8445 levels. I this market buy in dip? Have a close eye on HINDUNILVR!!!

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

For 13 January 2015: -

On 12 January 2015, FII Bought INR 244.95 crs and DII Sold INR 331.18 crs

Before beginning, have a look on run on one stock called Hind Unilever. This stock went up from 760 to 900 in just 5 trading days without any price correction or consolidation. This kind of price movement makes me uneasy to deal for trades as we are just in the hand of just one stock.

So far, charts are up and showing all journey for upside only. I can say that above 8335 which 50 DMA is, it deserves to be up only. Based on pure charting view, above 8335 it can hit 8445 levels or may go close to 8445.

For today’s session, it will get a fair opening without any big gap. Technical support will emerge at 8280. I say, if it can stand and spend time above 8335, it can move forward. There is nothing for bears so far. We can say that as long as it can maintain levels above 8335 it can bet for 8445. Above 8445 it can bet for a level which can be comparable to all-time high. It seems so bullish. Still, it may not be easy to make an easy buy due to few big gap up in past few days.

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Strategy for Nifty January future – We can expect opening go around 8360-8370 levels. Expect technical support at 8335 and at 8300. So far, it seems to be buy in dip. I am not very sure for today if I should buy the dip or not. This is just what charts are saying. I never prefer to trade without consolidation if price comes after 2-3 big gap. I am worried about impact come by HINDUNILVR. Let us see.

S&P 500 (USA) – I still believe for a blow up top hence rise is expected. It seems that pullback has done for now. As of now, close above 2035 can add strength from here. Euro zone has seen better close last night. I do not want to be bearish without a confirmation for top. I am playing for top which should be comparable to all-time high on S&P. equally, I advise strong caution near to those levels.