28 February 2015: Nifty Elliott wave analysis: Will it be ‘Make in India rally for 9200’ or a 10% crash coming today?

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

For 28 February 2015: -

On 27 February 2015, FII Bought INR 1957.10 crs and DII Sold INR 491.93 crs

Are you surprised of economic survey report? I am not. Above heavy buy figures by FII were backed by p-notes. I quoted this as informed by news channel reports. Most of the time, p-notes buyers used to buy on confirm news. This happens every year before budget. Their success rate is also not very impressive. Hence, I have nothing to take a cue. It is the time to keep yesterday’s rise behind and keep your eye on union budget.  

A nine month’s old rally comes to the litmus test today. It is going to be very first complete Union Budget of this government. It is time to work for government. Looking on their recent draft on land acquisition ordinance, I have strong doubt. Many of their ministers and party members are involves in illogical agenda and they got media attention. You cannot think about development with old rotten ideas. I have not found anything innovative in past nine months.

Will it please at least Stock Market? Or at least common man?

For today’s trading session, technical charts has no great meaning. Charting suggests that above 8880 we can expect 8950-9000 levels. Maximum strength can give you 9100-9200 levels on Nifty, if market likes budget. If market dislikes it then Nifty will settle first below 8780-8750. Below 8660, we can expect bloodbath. Take this level of 8660 for whole March Month.

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Strategy for Nifty March future – I do expect some positive opening. I take the range of 8900 to 8950 as stiff technical resistance. Cross above 8950 may give you 9000 levels. All these to happen before budget, if it has to happen. After budget Nifty Future can either hit 9200 or it will crash to 8500.  

S&P 500 (USA) – It came very close to 2100 levels. This was very much expected. Even after new life time high, S&P has neither great euphoria nor any strength to sustain. Remember, 2145 is my maximum of expectation. It may see a fall before that also. Immediate technical charts are suggesting that if it sustain below 2096 then we can expect fresh dip. Next week will be interesting and challenging. 

28 February 2015: Stock Chart Analysis for intraday: DLF, CANBK and ADANIENT

DLF (155.95)

Buy above 157/SL 155/ Target 161-164|| Sell below 152 SL 125.30/ Target 148-145

CANBK (408.05)

Buy above 412/SL 406/Target 420-425||Sell below 399/ SL 405/ Target 392-380

ADANIENT (711.35)

Buy above 715/SL 707/Target 725-738||Sell below 699/ SL 707/ Target 685

27 February 2015: Nifty Elliott wave analysis: The next key support = 8660 !!! Bloodbath below 8660 !!! Litmus test will come tomorrow for 9 month old rally !!!

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

For 27 February 2015: -

On 25 February 2015, FII Bought INR 516.06 crs and DII Bought INR 19.70 crs

It has broken 8725 and it hit a low around 8669 levels. This was expected. Now yesterday’s low range of 8669-8660 will be last hope for bulls before tomorrow. We have union budget to come tomorrow which is going to be litmus test of optimistic rally of past nine months.

I can still add, this is going to be dangerously volatile market for tomorrow. If it just sustain below 8725-8730, this will favour bears only. If it breaks 8660 then we can expect nearly 80-100 points further.

For today’s trading session, I am expecting some positive opening but it may try to be dull in first half of trade. There will be fight between fear and hope before budget. It is the time to deliver as this is full majority government and they cannot give any excuse. I have no great hope looking Rail Budget. There were no great innovation, vision and any vikas ka formula. It was same old budget which miss to quote the source of money. It was just full of promises. Even government do not know how to fulfil that formula. I saw this kind of vision document for Indian railway by UPA in 2009.

Do not give me logic that state and centre will bear the cost. Hardly any state government has any money. All of them depend on centre fund only.

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

Strategy for Nifty March future – it has broken 8780 and slipped to hit 8720 levels. Nifty March future will have technical support at 8710. If it breaks and sustain below 8710 then we can see a fresh dip of 80-100 points. On higher side 8800 will act as stiff resistance. Do not buy any rise at any cost.

S&P 500 (USA) – I have nothing to change in analysis. It is another day with zero percent moves. How long can this continue? Good answer is that as long as market wants. It hit an intraday high near to 2120 levels. I can still repeat that as long as it is above 2100 levels we can hope for 2145. Still, I like to ignore to make a buy on this index.  One should wait for a sell signal on this index. On a long term chart it is near to 2100 levels from past three months. 

27 February 2015: Stock Chart Analysis for intraday: SBIN, ANDHRABANK and M&M

SBIN (289.40)

Buy above 293/SL 291/ Target 296-298|| Sell below 288 SL 291/ Target 284-280

ANDHRABANK (82.30)

Buy above 84/SL 83.60/Target 85-86||Sell below 82/ SL 83/ Target 80-79

M&M (1249.60)

Buy above 1270/SL 1263/Target 1285-1300||Sell below 1242/ SL 1250/ Target 1225-1210

26 February 2015: Nifty Elliott wave analysis: NIFTY key support is at 8730-8725 levels. Below 8725, expect sharp fall. No buying before budget now.

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

For 26 February 2015: -

On 25 February 2015, FII Bought INR 516.06 crs and DII Bought INR 19.70 crs

We have derivative expiry for this month series today. All eyes are on Rail budget too before Union budget coming on Saturday. Somehow, Nifty is not shaping well before budget. It keeps the room to make a move towards any direction. There is no edge either bulls or bears. If I have to give edge based on my senses then I will give edge to bears. One must prepare to see shocking move and volatility.

Do expect steep fall if Nifty breaks 8726 levels and sustain. Technically 8800 to 8850 will act as stiff trading resistance. Steel and selected PSU stocks are looking weak. I believe that Union budget and S&P top will come near to same time. If correction begins in US then we may see deeper cut. I am repeating, if Budget fails to satisfy then we may see a move of 10% fall.

For today’s trading session, one can expect flat to positive opening. Immediate technical support will emerge at 8730 levels. On higher side cross above 8800 may act as stiff trading resistance. Do expect wild moves today. Expiry effect will add more volatility now.

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

Strategy for Nifty March future – Opening may go around 8820 levels. Technical support will emerge at 8800 and then at 8780. I expect fall to extend if it can sustain below 8780. Note that nothing is impossible in this market. Many times it has given up in just few minutes. Trade less is the key.  

S&P 500 (USA) – It is another day with zero percent move. How long can this continue? Good answer is that as long as market wants. It hit an intraday high near to 2120 levels. I can still repeat that as long as it is above 2100 levels we can hope for 2145. Still, I like to ignore to make a buy on this index.  One should wait for a sell signal on this index. On a long term chart it is near to 2100 levels from past three months. 

26 February 2015: Stock Chart Analysis for intraday: TATASTEEL, APOLLOTYRE and M&M

TATASTEEL (350.90)
Buy above 356/SL 353/ Target 362|| Sell below 350/ SL 353/ Target 344-340

APOLLOTYRE (173.40)
Buy above 176/SL 175/Target 179-180||Sell below 172/ SL 173.50/ Target 167-165

M&M (1267.10)
Buy above 1282/SL 1275/Target 1300-1310||Sell below 1259/ SL 1265/ Target 1240-1230

25 February 2015: Nifty Elliott wave analysis: Before expiry 8730 will play as crucial support on Nifty. Expect wildness before budget now.

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

For 25 February 2015: -

On 24 February 2015, FII Bought INR 697.28 crs and DII Sold INR 146.98 crs

I took yesterday’s close as zero percent change. These kinds of moves are suggesting that market is clueless about budget. If not then also it is not prepared to see any big rise at least. At one time it had given hope for 9000 but those fed away with 50% retrenchment.

Yesterday’s low of 8726 was around the given support of 8730 which was mentioned in pre-market analysis. Even after index fall there are stocks which are running budget hopes, like ADANIENT, BHEL etc. this is suggesting that budget may give something. Note that stocks and charts used to sense news earlier than it comes.

For today’s trading session, one can expect flat to positive opening. Immediate technical support will emerge at 8730 levels. On higher side cross above 8800 may act as stiff trading resistance. Do expect wild moves today. Expiry effect will add more volatility now.

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

Strategy for Nifty March future – Opening may go around 8850 levels. Technical support will emerge at 8820 and then at 8780. I expect fall to extend if it can sustain below 8780. Note that nothing is impossible in this market. Many times it has given up in just few minutes. Trade less is the key.  

S&P 500 (USA) – It is slow but steady above 2100 levels. This is in line with expectation. I strongly warn from any kind of buying at these higher levels. Based on technical charts, I still believe for a move towards 2145 but this should be ignored for trade for good reasons. This may be last 1-2% rise from current levels. As long as it is above 2100, there is no reason to be bearish either. 

25 February 2015: Stock Chart Analysis for intraday: ADANIENT, BHEL and HEXAWARE

ADANIENT (712.20)

Buy above 715/SL 708/ Target 730|| Sell below 699/ SL 705/ Target 688-684

BHEL (277.75)

Buy above 280/SL 278/Target 285||Sell below 274/ SL 276/ Target 270

HEXAWARE (274.30)

Buy above 275/SL 273/Target 280-283||Sell below 271/ SL 273/ Target 267

24 February 2015: Nifty Elliott wave analysis: Pre-budget up move seems to be over. Below 8730, expect further fall. Technical resistance = 8880-8920

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

For 24 February 2015: -

On 23 February 2015, FII Bought INR 601.91 crs and DII Sold INR 163.79 crs

Pre-budget rally has magnitude from 8479 to 8913 levels. Even yesterday it has failed to cross the land mark intraday resistance of 8880 and hence we saw a fall. Most important is that has closed just above the crucial 8750 marks. If it sustain below 8750 for some time then we can expect fresh dip from current levels.

We can expect wild swings in coming few days. If it does not go above 8880-8900 levels then we cannot expect fresh hope for rise on budget day. Charts are shaping to digest a move which it has to create as budget event. It is most likely to see a fall. This is what I can conclude from chart.

For today’s trading session, one can expect flat to positive opening. Immediate technical support will emerge at 8730 levels. On higher side cross above 8800 may act as stiff trading resistance. Do expect wild moves today. Rate sensitive stocks will attract volume and activities. Reality stocks have shaped up for fall.

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

Strategy for Nifty March future – Opening may go around 8820 levels. If it sustain below 8800 then we can see immediate 40-50 point’s fall. On higher side, no level is going to be safer. Still, if I have to quote then 8860 and 8890 will act as stiff trading resistance. Has this market converted to sell-on-rise before budget? Answer may be yes.

S&P 500 (USA) – It goes in line with expectation. Think- a new all-time high trades has also failed to create some energy in the market. It is trading dull and silent. Only good part is that it has closed near to the high point of the day. I still believe that as long as it is above 2100 we can hope for a move towards 2145 levels. I have no great interest in trading long this time on this index. 

24 February 2015: Stock Chart Analysis for intraday: SBIN, RELIANCE and DLF

SBIN (296.55)

Buy above 300/SL 298/ Target 305|| Sell below 294/ SL 296/ Target 290-288

RELIANCE (845.00)

Buy above 854/SL 848/Target 866||Sell below 839/ SL 845/ Target 824-818

DLF (146.55)

Buy above 149/SL 147.50/Target 153||Sell below 145/ SL 146.50/ Target 142-140

23 February 2015: Nifty Elliott wave analysis: Will we get 9000 Nifty on Budget optimism. Petro-gate scam is a treat now. Technical support = 8800-8750 for Nifty.

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

For 23 February 2015: -

On 20 February 2015, FII Sold INR 89.41 crs and DII Bought INR 204.85 crs

Pre-budget euphoria is not over yet. Market is trading wild now a day. We are in budget week. Budget session will begin from today. I have no long – no short as of now. I am just in plan to take fresh view towards the market. Genuine analysis is suggesting that if Nifty can sustain above 8930 then we can expect 9000 levels.

I have already said that we have two targets on budget rally. One is at 9000 and other at 9200 levels. I still believe for same moves. This is going to be interesting week. Take a note that Budget will come on Saturday.

For today’s trading session, one can expect flat to positive opening. Immediate technical support will emerge at 8880-8850 levels. On higher side cross above 8930 may push Nifty towards 9000 levels by today itself. One should expect buying in budget based optimistic stocks. I still believe for buy in dip. Will I go wrong some point? Yes, there are chances due to Petro-gate scam.

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

Strategy for Nifty February future – Opening may go around 8870-8860 levels. I consider 8830 as key support before 8800 levels. One thing is sure, above 8930 it can add quick move towards 8960 and then at 9000 levels. I am not very sure so this index is not in my choice of trade. Let us see how it shapes today.

S&P 500 (USA) – It is above 2100 levels. It is surprising but good thing is that I avoided short either in the zone of 2050 to 2100 levels. Technically, it has generated target for a move towards 2145 at least. I was expecting this in the month of January but it took a big dip before that. Now, it is taking fresh attempt. I still believe that this is a toppy market.  Top come at 2100 or 2145, on long term chart this is a caution at top. 

23 February 2015: Stock Chart Analysis for intraday: BHEL, ANDHRABANK and HEXAWARE

BHEL (275.25)
Buy above 277/SL 275/ Target 282-285|| Sell below 272/ SL 274/ Target 268-265

ANDHRABANK (88.75)
Buy above 89.50/SL 88.50/Target 92-93||Sell below 87.50/ SL 88.50/ Target 86-85

HEXAWARE (265.05)
Buy above 268/SL 265.50/Target 272-276||Sell below 262/ SL 264/ Target 258

20 February 2015: Nifty Elliott wave analysis: Optimism is a key driver. One can expect 9000 levels on Nifty anytime if Nifty can spend time above 8930 levels.

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

For 20 February 2015: -

On 19 February 2015, FII Bought INR 1542.70 crs and DII Sold INR 195.74 crs

Even 100 points of dip were bought by market yesterday. This is what optimism can do. I have already said that 8800 to 8750 will offer good trading support. Today is eighth trading session from the low of 8470 levels. We have not seen any kind of signal as big threat of fall yet.  

Pure technical charts are suggesting that we can expect 9000 before budget. After that it can try to hit 9200 if Budget gets respect by market. If not, then we can expect a very sharp selloff. Remember, we have seen massive rally on hopes only. Now, time has come for the current government to deliver. What if market does not like budget? Well, in that case market may correct as big as 10%. Market wants to shape up well to digest all possible outcomes. I must add that Nifty may try to hit 9000 to 9200 markets before union budget if global cues remain supportive.

For today’s trading session, one can expect flat to positive opening. Immediate technical support will emerge at 8880-8850 levels. On higher side cross above 8940 may push Nifty towards 9000 levels by today itself. One should expect buying in budget based optimistic stocks.

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

Strategy for Nifty February future – Opening may go around 8930-8940+ levels. A next key level to watch for is at 8960. We can expect a sharp rise if it can surpass 8960 levels. Downside technical support will emerge at 8890 levels. I will avoid deals if it sustain below 8880 by any chance.

S&P 500 (USA) – It is dead for third day near 2100 levels. Last night, it has closed with small negative. I still say 2100 levels should be decisive if manages to close above this levels. It is not going to be easy. Clear crossover of 2100 will give a target of 2145. Failure at 2100 will confirm for another short term top near at 2100 levels. Today is last trading session of week. Let us see.  

20 February 2015: Stock Chart Analysis for intraday: ADANIENT, HDFC and BANKBARODA

ADANIENT (692.25)
Buy above 694/SL 689/ Target 705-715|| Sell below 684/ SL 688/ Target 670

HDFC (1353.45)
Buy above 1360/SL 1352/Target 1375-139||Sell below 1338/ SL 1345/ Target 1315

BANKBARODA (178.50)
Buy above 180/SL 178.50/Target 185||Sell below 176/ SL 177/ Target 173-172

19 February 2015: Nifty Elliott wave analysis: Avoid trading if market goes dull. I plan to buy only intraday dip. Technical support – 8830. Technical resistance = 8930-8950

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

For 19 February 2015: -

On 16 February 2015, FII Sold INR 182.80 crs and DII Bought INR 280.77 crs

One round of pre-budget rally has done. This is now going to be second round. Before the next round of rally it should see some choppy moves. Ideally, we should expect 2-3 trading sessions will silence. There may be some kind of nervousness at higher end. I still feel that fall should be bought till budget. As long as Nifty is above 8750 we can expect rise only.

Pure technical charts are suggesting that we can expect 9000 before budget. After that it can try to hit 9200 if Budget get respect by market. If not, then we can expect a very sharp selloff. Remember, we have seen massive rally on hopes only. now, time has come for the current government to deliver.

What if market does not like budget? Well, in that case market may correct as big as 10%. Market wants to shape up well to digest all possible outcomes. I must add that Nifty may try to hit 9000 to 9200 market before union budget if global cues remains supportive.

For today’s trading session, one can expect flat opening. If it gives some price correction after these four days of rise then one should opt to buy. There is no technical threat of any big correction right now. Only thing is that market went up to a level where should be cautious. 8750 should get good respect in any price correction.

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

Strategy for Nifty February future – Opening may go around 8880+ levels. If this sustain above 8880 then we may see some short covering rise too. It can give a good push to the market on higher side. Yesterday’s high of 8928 may act as stiff resistance on higher side. I was already expecting 8900 from past few trading session.  Strong technical support may emerge at 8830 to 8800 levels. Buy every dip.

S&P 500 (USA) – It is still at 2100 on dot. I have already said that crossover of 2100 will generate the target of 2145. Will that come?  Will that really come? So far, it is on dot 2100 and turning silent. This may be treated as ‘make or break’ levels. It will get technical support at 2092 and at 2080. I still suggest to avoid trading on this global index. 

19 February 2015: Stock Chart Analysis for intraday: HEXAWARE, TCS and ACC

HEXAWARE (268.80)

Buy above 271/SL 269/ Target 276-280|| Sell below 263/ SL 265/ Target 259

TCS (2635.65)

Buy above 2645/SL 2635/Target 2670-2700||Sell below 2620/ SL 2630/ Target 2590

ACC (1653.30)

Buy above 1662/SL 1649/Target 1685-1700||Sell below 1635/ SL 1644/ Target 1616-1600

18 February 2015: Nifty Elliott wave analysis: I expect dull trades now. Technical support is at 8800. Uptrend intact as long as it is above 8750.

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

For 18 February 2015: -

On 16 February 2015, FII Sold INR 182.80 crs and DII Bought INR 280.77 crs

We have seen pre-budget rally and this trend will remain intact as long as Nifty is staying above 8800 to 8750 levels. There are signs that market will turn choppy now. This choppy move can continue for few days before taking a final shape before budget.

I still believe that this market is for buy in every possible dip till budget. We may see some sector specific optimism on price chart. What will we get in budget? I have no idea. I have planned to deal for long till budget day only, definitely not after that budget. Somehow, Elliott wave long term chart is saying that We have a chance of hitting yearly high only in the month of February itself or maximum by early March.

What if market does not like budget? Well, in that case market may correct as big as 10%. Market wants to shape up well to digest all possible outcomes. I must add that Nifty may try to hit 9000 to 9200 market before union budget if global cues remains supportive.

For today’s trading session, one can expect flat opening. If it gives some price correction after these four days of rise then one should opt to buy. There is no technical threat of any big correction right now. Only thing is that market went up to a level where should be cautious. 8750 should get good respect in any price correction.

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

Strategy for Nifty February future – Opening may go around 8860+ levels. If this sustain above 8880 then we may see some short covering rise too. It can give a good push to the market on higher side. I was already expecting 8900 from past few trading session.  Strong technical support may emerge at 8830 to 8800 levels. Buy every dip.

S&P 500 (USA) – It came at 2100. I was not long but equally I was not short either. It has saved me. A break above 2100 was something which I failed to see it coming at that beginning of month. I considered this rise as the same as of past many months. Pure technical charts have a simple view that if S&P can sustain above 2100 then we can expect a move towards 2145 to 2150 in this breakout. Will that come?  Will that really come? 

18 February 2015: Stock Chart Analysis for intraday: BHEL, TATAMOTORS and RCOM

BHEL (259.55)

Buy above 262/SL 259/ Target 266-269|| Sell below 255/ SL 257/ Target 250

TATAMOTORS (574.15)

Buy above 576/SL 571/Target 584-590||Sell below 569/ SL 574/ Target 560

RCOM (75.10)

Buy above 76/SL 75/Target 77-78||Sell below 74/ SL 75/ Target 72-71

16 February 2015: Nifty Elliott wave analysis: Now, pre-budget rally will get support at 8750. Cross above 8850 can give us 9000 levels too. Buy every dip till budget!!!

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

For 16 February 2015: -

On 13 February 2015, FII Bought INR 390.26 crs and DII Bought INR 95.82 crs

As expected we got a close above 8800 and things are turning well before upcoming union budget. It is optimism which is going to build before budget. We saw buying in past four trading sessions. This bounce may consolidate but fall is not likely till budget at least. Strong technical support will come at 8770-8750 levels.

So far it seems that this market is buy in every possible dip till budget. If market has to correction then also it will correct only after budget. We have eight trading sessions more to go. This government has already treated as pro-reform government and it has to fulfil market desire now.

What if market does not like budget? Well, in that case market may correct as big as 10%. Market wants to shape up well to digest all possible outcomes. I must add that Nifty may try to hit 9000 to 9200 market before union budget if global cues remains supportive.

For today’s trading session, one can expect flat opening. If it gives some price correction after these four days of rise then one should opt to buy. There is no technical threat of any big correction right now. Only thing is that market went up to a level where should be cautious. 8750 should get good respect in any price correction.

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

Strategy for Nifty February future – Opening may go around 8860+ levels. If this sustain above 8880 then we may see some short covering rise too. It can give a good push to the market on higher side. I was already expecting 8900 from past few trading session.  Strong technical support may emerge at 8830 to 8800 levels. Buy every dip.

S&P 500 (USA) – It came in the striking distance from 2100 levels. This is going to be decisive. A break above 2100 may guide for a fresh up move towards 2145 but I still suggest that this rise should not be bought. Technical indicators are suggesting that we have no great conviction in this rise. Trading support may emerge at 2080 levels. I am avoiding long on this index and I still prefer to avoid. This index will turn interesting in dip only. 

16 February 2015: Stock Chart Analysis for intraday: MARUTI, ARVIND and TCS

MARUTI (3616.95)

Buy above 3630/SL 3616/ Target 3670-3700|| Sell below 3580/ SL 3595/ Target 3550

ARVIND (313.25)

Buy above 315/SL 313/Target 318-322||Sell below 309/ SL 311/ Target 304-302

TCS (2538.75)

Buy above 2551/SL 2540/Target 2575-2590||Sell below 2525/ SL 2537/ Target 2510-2500

13 February 2015: Nifty Elliott wave analysis: It has surpassed above 8670-8680 levels to give a quick boost. Is it a confirmation of pre-budget rally?

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

For 13 February 2015: -

On 12 February 2015, FII Sold INR 406.28 crs and DII Bought INR 705.53 crs

Yesterday it has crossed 8670-8680 and then we saw a quick and sharp run on nifty. Technical charts have shown that it has broken downside trend line on higher side. My view is that if it can sustain above 8730 then we can hope for pre-budget rally. I just like to ignore economy data which has presented yesterday. Market is habitual of those poor data.

I still like to repeat that February month may turn up as a month to give yearly high. History suggests that whenever big rally comes in early year then top may remain for rest of the year. What I mean is that whenever 10% rally comes at the beginning of the year then things may never be easy for rest of the month. Right now, all hopes are on budget.

What if market does not like budget? Well, in that case market may correct as big as 10%. Market wants to shape up well to digest all possible outcomes.

For today’s trading session, one can expect 25-30 points’ higher start. Then it will get two crucial supports, one is at 8730 and the next will be at 8680 levels. I have already added long yesterday near 8680 levels. I like to hold those which some broader risk. If things go right then here we have a possibility to see 8900 levels again.

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

Strategy for Nifty February future – Opening may go around 8800 levels. If this sustain above 8800 then we may see some short covering rise too. I still feel that Nifty Future may try to come near 8900+ levels. We are two weeks away from union budget. One can expect downside support at 8750 and 8710 levels.

S&P 500 (USA) – I will not suggest to trade in the range of 2050 to 2100 as said from past few days. Well, it has still impressed me with this strength just like past many times. What if it surpasses 2100? Technical charts are suggesting for a move towards 2145 in that case but it is not the likely case which I can consider. I still feel that this strength will end up near 2100 at the max. 

13 February 2015: Stock Chart Analysis for intraday: BHEL, ADANIENT and LUPIN

BHEL (267.70)

Buy above 270/SL 268/ Target 274-276|| Sell below 263/ SL 265/ Target 258

ADANIENT (684.35)

Buy above 688/SL 682/Target 700||Sell below 678/ SL 684/ Target 670-665

LUPIN (1617.70)

Buy above 1624/SL 1617/Target 1650||Sell below 1600/ SL 1609/ Target 1580-1570

12 February 2015: Nifty Elliott wave analysis: One must watch global cues for today and tomorrow. Nifty key support = 8580!!!

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

For 12 February 2015: -

On 11 February 2015, FII Sold INR 371.27 crs and DII Bought INR 147.49 crs

Let us consider that 8470 acted as support for once. If this is true then this bounce has faced resistance at 8650 levels which is perhaps most stiff resistance for bounce. If Nifty can able to stand tall above 8650 then only we can think for Nifty to go higher from current levels.

If I consider historic cycle before budget then we came to know that most of the time market denies falling before union budget. This is perhaps only fact which is saying that market may not give up. It may hang at these levels. In such case trading may be very dull and boring for rest of month.

For today’s trading session, one can expect flat to negative opening. A failure at 8650 to 8670 may give us another round of sell off. I advise caution for today and tomorrow if market has to react for lower move. If correction hit further then we can expect for a move towards 100 DMA levels. This is my actual expectation from February month.

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

Strategy for Nifty February future – Opening may go negative near to 8650 levels. Intraday support will emerge at 8630. If trades sustain below 8630 then only we can make a plan to short on fresh basis. On higher side 8700 will act as resistance. If global cues turn negative then break down is very much likely.

S&P 500 (USA) – I will not change my words of correction until S&P crosses above 2100. I am repeating this view from levels higher above 2050. The best I can say is to avoid the range of 2050 to 2100 for trading. Time and pattern wise, there is something which is troubling market in a big way and stopping from moving higher on medium term chart. I will stick with my point. As long as it is below 2100, this may not be a buy. 

12 February 2015: Stock Chart Analysis for intraday: BHEL, HDIL and ARVIND

BHEL (255.45)

Buy above 260/SL 258/ Target 265-267|| Sell below 252/ SL 255/ Target 245-242

HDIL (110.30)

Buy above 112/SL 111/Target 114-115||Sell below 108/ SL 109/ Target 105-104

ARVIND (297.05)

Buy above 300/SL 298/Target 305||Sell below 294/ SL 296/ Target 288-285

11 February 2015: Nifty Elliott wave analysis: Post BJP Shock will be litmus test today for market. Technical support = 8500-8470. Resistance = 8630

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

For 11 February 2015: -

On 10 February 2015, FII Sold INR 1261.19 crs and DII Bought INR 851.32 crs

So market cheer for the AAP victory in Delhi election. Well, it has nothing to do with Delhi election outcome for rise. Fall could have blamed but not the credit for rise in market. In true political sense, bell is ringing for BJP now. Relative comparison of them self with Congress will not work longer. Setting a new base year to just make a calculative GDP higher is not what we can say ‘growth’. This is just like playing with numbers. Now, is this market not expensive at Nifty near 9000?  

What we said above has nothing to do with my trading plan as those are based on technical. Situation is not so alarming for charts. In fact, those are relatively better. Market got a bounce after seven days of fall. Today will be a litmus test for this revival.

For today’s trading session, one can expect flat opening but we may see stiff resistance at higher levels. 8530 will act as trading support. Break below 8530 will give levels like 8500 and then 8470 too. On higher side 8600 to 8630 will be stiff resistance. I must say that actual test of recovery will come today only.

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

Strategy for Nifty February future – After a roller coaster ride market ended with gain. This was eighth day reversal. If Nifty future starts trading below 8585 then one can expect further quick dip. On higher side 8650 and 8690 will be key point of resistance. I do not want to say for direction as it has to be establishing yet.

S&P 500 (USA) – I will not change my words of correction until S&P crosses above 2100. I am repeating this view from levels higher above 2050. The best I can say is to avoid the range of 2050 to 2100 for trading. Time and pattern wise, there is something which is troubling market in a big way and stopping from moving higher on medium term chart. Will Greece make exit from Euro zone to make market crash the way I am seeing it? 

11 February 2015: Stock Chart Analysis for intraday: RELIANCE, HEXAWARE and TATASTEEL

RELIANCE (882.00)

Buy above 889/SL 884/ Target 896-904|| Sell below 876/ SL 881/ Target 866-860

HEXAWARE (241.35)

Buy above 242/SL 240/Target 246-250||Sell below 237/ SL 239/ Target 232

TATASTEEL (357.75)

Buy above 362/SL 359/Target 368-370||Sell below 353/ SL 356/ Target 346-340