30 June 2015: Nifty Elliott wave analysis: Indian market reacted relatively better on Greece crisis. 8250 and 8200 will be key trading support.

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

For 30 June 2015: -

On 29 June 2015, FII Sold INR – 711.88 crs and DII Bought INR 906.38 crs

I had posted a technical target of 8200 on Nifty. It hit a low at 8196 and then took a rebound of more than 125 points. This shows the strength of technical support at 8200. India might be one such market which has reacted least on Greece development. I cannot deny further impact. Technical charts are giving hints for side wise movement for Nifty now.

For today’s trading session, I am expecting a weak opening as getting hint from SGX Nifty. It may be due to 350 points sell off on Dow Jones last night which was more than what market were expecting yesterday. Still, technical support is at 8280 to 8250 zone for trading. It is likely to open around 8280 so 8250 may come in force immediately. I have forwarded long from yesterday which I may book. Avoid all banking stocks.

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Strategy for Nifty July future – One can expect opening around 8390 levels which may be interesting. Key supports are as 8275 and then straight at 8250-8240 levels. If it comes around 8240 then it may be back to square. I am expecting a choppy session as it may be break down immediately. If times favours then market may again go in buy mode just like yesterday but event based predication before Greece is just not possible.

S&P 500 (USA) – There were times when people said that Greece does not matter to the world. Really? Now it matters all. Close below 2070 has a good hint for the test of 2045. Now, keep technical analysis at one side as it has given enough hints for long term top when it was near 2130 few days ago. Let us see what is going to happen in Greece now.  Will Greece be the last nail for multi-year rally? I have written enough for shorting when it was at 2130 levels. 

30 June 2015: Stock Chart Analysis for intraday: ACC, TATASTEEL and TECHM

ACC (1411.75)

Buy above 1418/SL 1410/ Target 1435-1450|| Sell below 1399/ SL 1407/ Target 1385-1375

TATASTEEL (296.30)

Buy above 298/SL 295/Target 305-308 ||Sell below 293/ SL 295/ Target 288-286

TECHM (483.35)

Buy above 490/SL 484/Target 501-510||Sell below 478/ SL 483/ Target 470-465

29 June 2015: Nifty Elliott wave analysis: Ghost of Greece is back. Expect gap down by 120 points. Only logical support is 8200 !!!

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

For 29 June 2015: -

On 26 June 2015, FII Sold INR – 203.74 crs and DII Bought INR 234.21 crs

The ghost of Greece is back and hence all major global indices are on big tank. I have added short on Nifty Future on Friday’s session in last hour of trade and added 8200 put also on anticipation of possible top to emerge at 8423 levels itself. SGX Nifty is down by 125 points. We have updated our paid subscribers for Nifty target at 8200 levels. Major part of possible fall will be washed in gap down itself. Greece is something which cannot be predicted. Global markets are down right now who knows if it can go green by night. I am just saying how unpredictable this can be.

For today’s trading session, I am expecting a weak opening backed by Greece crisis. If gap down sustain then Indian market can really go scary red by closing. Hence, I am advising strong caution. Equally, if situation eases around noon hours then Indices may go on recovery. Just stay tuned for News reports. Policy makers will try their best to hide their failure. They will try to save Greece once more. My possible downside target and support is at 8200.

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Strategy for Nifty July future – If you have short on Nifty then enjoy like else. If not, then just stay out of market. I cannot suggest taking short after gap down. If I get a good chance to book profit then I will surely prefer to book profit for once. Technical support can be at 8250 levels.

S&P 500 (USA) – It has closed at 2101 on Friday’s session but now its future is down over 28 points. So it can straight forward hit my technical target of 2070. Once it sustain below 2070 then we can expect 2045 levels too. It’s something which may be a final set back for sell off. Will Greece be a trigger point for global market? I believe for Greece default from past many years but every time it saved somehow. I never change my stand. Sooner or later Greece will default and it can capable enough to bring a meltdown for stock price anytime across the globe. In fact, policy makers has done blunder by introducing ‘Euro” itself. 

29 June 2015: Stock Chart Analysis for intraday: LT, TATASTEEL and ARVIND

LT (1780.70)
Buy above 1791/SL 1783/ Target 1810-1820|| Sell below 1774/ SL 1783/ Target 1755-1745

TATASTEEL (298.65)
Buy above 302/SL 299/Target 307-310 ||Sell below 296/ SL 299/ Target 290-286

ARVIND (265.65)
Buy above 268/SL 266/Target 273-275||Sell below 263/ SL 265/ Target 258-256

26 June 2015: Stock Chart Analysis for intraday: HINDUNILVR, TATAMOTORS and TECHM

HINDUNILVR (883.25)
Buy above 891/SL 885/ Target 902|| Sell below 878/ SL 884/ Target 865

TATAMOTORS (432.40)
Buy above 438/SL 434/Target 445-450 ||Sell below 427/ SL 431/ Target 418-410

TECHM (529.80)
Buy above 536/SL 531/Target 545-550||Sell below 525/ SL 529/ Target 515-510

26 June 2015: Nifty Elliott wave analysis: Opening for July month series may go on weaker note. Resistance @ 8420-8450!!!

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

For 26 June 2015: -

On 25 June 2015, FII Bought INR – 280.21 crs and DII Sold INR 8.45 crs

Yesterday we took our profit in initial minutes forwarded short trades and then went on silent mode. It was a right decision every day is not for trade. In past two trading days, technical charts have shown that Nifty has faced resistance at 8420+ levels. It may not find it easier to cross levels like 8450 right now.

For today’s trading session, I am expecting a weak opening which got a base from SGX Nifty right now. One must note it cautiously that Nifty has support only in the range of 8300-8280 which is far away from yesterday’s closing levels. On higher side we have closest resistance at 8450 levels.

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Strategy for Nifty July future – I had a view yesterday that if I do not take short on caution at higher levels then we have high chance to regret. It looks like same way. Technical resistance is in the zone of 8450-8460. SGX Nifty is giving a hint for opening at 8380 levels which is negative 40 points. Technical support is at 8330 and then at 8290 levels. Expect follow up of selling.

S&P 500 (USA) – It is coming close to 2095 levels. This is again showing weakness around 2100 marks as of past many occasions. Technical charts are advocating for targets around 2070 if it breaks 2095. I have already expressed my concern for a decisive dip in July month of trade. On higher side 2110 will act as stiff resistance on higher side. Let us see if it can break on down side or not. 

25 June 2015: Nifty Elliott wave analysis: Derivative expiry day is going to be wild due to 8 days of rise and a subsequent weak day. Avoid trades !!!

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

For 25 June 2015: -

On 24 June 2015, FII Bought INR – 92.57 crs and DII Bought INR 13.52 crs

Today is derivative expiry of June month future trades. Technically this is going to be most volatile expiry. Nothing is going to be certain for today’s trade. Normally today should be litmus test trading day for bulls and bear both but this fall on expiry day. What I mean to say is that even after yesterday’s last hour sell-off weakness cannot be guaranteed.  

For today’s trading session, I am expecting a resistance to emerge at 8360 and then 8400 levels. It is possible to expect a short term top at yesterday’s high. If today’s closing goes in negative then it can be almost certain. If that turns true then we may see retest of 8000 levels too. One should trade less today, due to uncertainty. Key support is only at 8280 levels.

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Strategy for Nifty July future – I am not suggesting any fresh trade for today. If I have picked long on 8200 Nifty July put from 69 which has closed at 100 and I picked short from 8400 levels. I may opt to close this deal if market fails to stay in negative. Key level is 8300 !!! If breaks then bears can show some power.

S&P 500 (USA) – I was already expecting this kind of dip. Once again, a top around 2135 came but remains untested at 2135. It has shown weakness and came off. I still advocate that US indices are in top formation mode. Trading support may emerge around 2010. Once it starts trading below 2010 then we can expect a re-test of 2095 levels. I want to see the most desired long term break out on down side. 

25 June 2015: Stock Chart Analysis for intraday: TATASTEEL, BHEL and RELIANCE

TATASTEEL (304.55)
Buy above 307/SL 305/ Target 312|| Sell below 302/ SL 304.25/ Target 298-296

BHEL (254.10)
Buy above 258/SL 256/Target 262-265 ||Sell below 251/ SL 253/ Target 247-245

RELIANCE (990.90)
Buy above 996/SL 992/Target 1003-1010||Sell below 989/ SL 993/ Target 982-975

24 June 2015: Nifty Elliott wave analysis: A day before expiry, advising caution near 8400. A reversal is very much possible.

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

For 24 June 2015: -

On 23 June 2015, FII Sold INR – 374.97 crs and DII Bought INR 404.20 crs

Heading towards derivative expiry market has closed positive for eight days in a row. This is the time when confidence must go less to hold long. Buying for fresh is just not easy. We can expect to emerge at current levels sooner. If rise comes then it may be just a expiry factor. It is hard to say that anymore short has left in this market after almost 450 points of rise in past eight trading session.

For today’s trading session, I am expecting a resistance to emerge at 8400 levels. It may open flat only. Technical support can be only at 8330-8300 levels. I am advising strong caution due to expiry. Charts may not have that great sign of caution yet but Fibonacci sequence is giving strong hint for reversal.

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

Strategy for Nifty July future – I am not suggesting any trade as of now. If I have a chance then I will pick trades on short side only. Technical support is at 8350 only. Break below 8350 will cause a slip towards 8280 levels in quick succession. Trade less and small quantity due to uncertainty.

S&P 500 (USA) – I can keep analysis same as of yesterday. Core is that it has turned shy again near 2135 resistance zone. Will it try to break? I doubt. I still stick on my point that US market has no big room for rise and it is under a long term top formation. Even SPX VIX is justifying the views from past few months. Only thing which is saving market is that market-men are not ready to give up but they will give up sooner or later. Expect a down week. 

24 June 2015: Stock Chart Analysis for intraday: TATAMOTORS, RELIANCE and LUPIN

TATAMOTORS (436.00)
Buy above 441/SL 436/ Target 448-452|| Sell below 434/ SL 438/ Target 424-420

RELIANCE (995.00)
Buy above 1005/SL 997/Target 1020 ||Sell below 986/ SL 992/ Target 974-970

LUPIN (1771.25)
Buy above 1790/SL 1781/Target 1805-1810||Sell below 1764/ SL 1773/ Target 1745-1730

23 June 2015: Nifty Elliott wave analysis: On expiry week, caution advised. Technical resistance to emerge in zone of 8400, here and there !!! Today is Eighth day from recent low of 7940 !!!

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

For 23 June 2015: -

On 22 June 2015, FII Bought INR – 651.31 crs and DII Sold INR 94.03 crs

We saw seven days of positive closing sessions in a row. Today is eighth day of trade. Based on Fibonacci sequence, eighth day is vital for trend reversal if it used to be unidirectional. So today’s trading is crucial before expiry. Equally, as we have derivative expiry so market may feel expiry pressure too. I feel that recent gain has good contribution from a fact that market were in down mood from past two months.

For today’s trading session, I am expecting a resistance to emerge at 8400 levels. Beyond this technical resistance we may expect short covering based rise. Such chances are not so bright but cannot deny. In the down side we can expect technical support in the range of 8280. Even if it has to go on reversal mode, we may see a choppy session as long as it is above 8280. It means that weakness can govern only if it stay below 8280.

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

Strategy for Nifty June future – I am not suggesting any trade as of now. We are near to expiry and market has already taken a big unidirectional move. Technically Nifty June month future has resistance 8390-8400 levels. Above this threshold we can expect expiry based up move. I am talking about short covering rise.

S&P 500 (USA) – Yesterday, it hit top around 2129 and then slipped from high point but still manages to close with good gain. Core is that it has turned shy again near 2135 resistance zone. Will it try to break? I doubt. I still stick on my point that US market has no big room for rise and it is under a long term top formation. Even SPX VIX is justifying the views from past few months. Only thing which is saving market is that market-men are not ready to give up but they will give up sooner or later. Expect a down week. 

23 June 2015: Stock Chart Analysis for intraday: PNB, DLF and LUPIN

PNB (138.05)

Buy above 140/SL 138/ Target 144-146 || Sell below 136/ SL 137.50/ Target 134-132

DLF (114.60)

Buy above 117/SL 115.50/Target 120-122 ||Sell below 113/ SL 114.50/ Target 110-109

LUPIN (1806.20)

Buy above 1820/SL 1810/Target 1845-1850||Sell below 1799/ SL 1809/ Target 1780-1760

22 June 2015: Nifty Elliott wave analysis: On expiry week, caution advised. Above 8200, bulls may try to take it to 8300 !!!

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

For 22 June 2015: -

On 19 June 2015, FII Sold INR – 106.12 crs and DII Bought INR 447.55 crs

We are in derivative expiry week and volatility is expected at higher levels. We saw a high around 8250 which is well 300 points from recent low of 7940 levels. I have already quoted that above 8200 it may try to give a test towards 8300. It is very much possible. A key intraday point is at 8280 and then a move towards 8300+.  Shall I call off threat analysis? No. it will be a part of study so that traders can save themselves from any investment bet. July month may not be good for equity price.

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, we can expect opening levels as flat to positive. My desired target range s 8280 to 8300 levels. Will banking stock participate? A clear answer is a key for further move on index. Unfortunately I am not able to see the desired strength. Majority of rise came with Reliance. We all know most of the time Indian indices used to make a top with rise in Reliance. Key support is 8180-8200 levels.

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

Strategy for Nifty June future – I am not suggesting any trade as of now. It will face a resistance at 8300 or higher levels. So far, it may be a day with buy in dip but not to buy on rise. As Nifty has already gained for six straight say so I am advising caution at higher levels. Before expiry, some weak bulls may try to pull their hands.

S&P 500 (USA) – Friday’s dip again came in line with my expectation as resistance were supposed to emerge at 2125 to 2135 levels. I still stick on my point that US market has no big room for rise and it is under a long term top formation. Even SPX VIX is justifying the views from past few months. Only thing which is saving market is that market-men are not ready to give up but they will give up sooner or later. Expect a down week. 

22 June 2015: Stock Chart Analysis for intraday: M&M, IDEA and BHEL

M&M (1305.55)

Buy above 1312/SL 1305/ Target 1325-1340 || Sell below 1294/ SL 301/ Target 1280

IDEA (175.50)

Buy above 177.50/SL 175.50/Target 180-182 ||Sell below 174/ SL 175.50/ Target 172-170

BHEL (241.25)

Buy above 244/SL 242/Target 248-250||Sell below 238/ SL 240 Target 235-232

19 June 2015: Nifty Elliott wave analysis: Above 8200, Nifty will have next logical resistance at 8240. Surpass above 8240 will open for another rally towards 8300-8400 ranges.

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

For 19 June 2015: -

On 18 June 2015, FII Sold INR – 940.91 crs and DII Bought INR 1447.07 crs

Yesterday was a choppy session with no action. We can expect a higher opening backed by good rise in US market. This may have improved global sentiment for one-two days. I was expecting nifty to go in the range of 8180-8200 at least in this recovery which I got yesterday. I am still keeping caution analysis too in my study although we are far away from panic levels.  

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, we can expect opening in the range of 8240 levels which is supposed to be next immediate hurdle above 8180-8200 levels. If it can surpass 8240 then we can expect a slow and steady rise towards 8300-8400 levels. Banking stocks need to participate for any further rise.

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

Strategy for Nifty June future – I am off to my long yesterday hence I am bound to miss today’s gap up. I decided not to take risk before event. Technically, above 8180 we can expect levels of 8210. It will be interesting to see how Nifty June future reacts above 8220-8230 levels. I have no plan to add short or long yet.   

S&P 500 (USA) – I was expecting levels near 2115 but Fed has given a boost. This boost up again brings a race for 2135 levels. Still we can conclude that higher resistance of 2135 may not be easier to cross. So far, at least fed move has given a cheer to the global market. Technical support for S&P will be at 2115-2110 levels. I am expecting resistance to emerge at higher levels. 

19 June 2015: Stock Chart Analysis for intraday: YESBANK, HDFC and LICHSG

YESBANK (824.65)

Buy above 830/SL 824/ Target 842-850 || Sell below 818/ SL 824/ Target 800-795

HDFC (1213.30)

Buy above 1220/SL 1214/Target 1235-1242 ||Sell below 1205/ SL 1213/ Target 1190

LICHSG (428.60)

Buy above 432/SL 426/Target 440-450||Sell below 424/ SL 428 Target 415-410

18 June 2015: Nifty Elliott wave analysis: I do expect more recovery on index. Least target for recovery above 8100 should be 8180-8200 levels.

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

For 18 June 2015: -

On 17 June 2015, FII Sold INR – 940.91 crs and DII Bought INR 1447.07 crs

I was expecting this bounce towards 8100. What I was not expecting was the selloff in last 15 minutes. A high at 8136 was looking convincing. I must add that market is attracting short covering time to time now days which is perhaps happening after real long time. I still keep caution study a part of my study although I am in buy mode.

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, I am expecting a flat start or above 8100 levels on Nifty. If it can sustain above 8100 then it may try to retest 8136 levels. If resistance has to emerge then it need to emerge only near to 8180 levels. In the down side it will get support 8050 levels.

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

Strategy for Nifty June future – I got a test of 8100 but I did not booked my long yet. I should have taken profit on high but this happens on optimism. I still believe that Nifty can advance high. I am still cautious but I believe for re-test of yesterday’s high. Technical support is at 8050 levels. I am equally ready to book my long on any sell off kind of situation.  

S&P 500 (USA) – Let us keep the study same. Bounce continues and advances towards 2100 levels. Can we expect some more bounce? Yes, there is still a room to go near 2110 to 2115 levels. Technical support will be at 2090 to 2085 levels for trading moves. It is not an easy task to figure out which top will be final but this is equally clear that S&P do not have intensity to move higher. Let us see. It is eighth month of consolidation. 

18 June 2015: Stock Chart Analysis for intraday: ARVIND, HINDUNILVR and RELIANCE

ARVIND (235.05)
Buy above 238/SL 235/ Target 242-245 || Sell below 232/ SL 235/ Target 228-226

HINDUNILVR (862.05)
Buy above 868/SL 863/Target 880-890 ||Sell below 856/ SL 861/ Target 845-840

RELIANCE (931.20)
Buy above 938/SL 932/Target 950-956||Sell below 924/ SL 931 Target 915-909

17 June 2015: Nifty Elliott wave analysis: Sustaining above 8000 has pulled us from threat levels. We can expect 8100 at least as of now.

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

For 17 June 2015: -

On 16 June 2015, FII Sold INR – 521.65 crs and DII Bought INR 644.81 crs

We took a long on the rock bottom of the day in the last trading session. Bounce came in second half as expected. Are we still in threat range? Yes, we are but we moved little far from those levels. I am still keeping caution analysis as the part of my study. Frequent close below 8000-7960 zone will be alarming.

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, I am expecting a good start for the day. It has closed near 8050 levels but it has yet to move above 8060. Once it sustain above 8060 then we can expect a move towards 8100 levels. Beaten down momentum stock may give good trade opportunity. Technical support for Nifty spot is at 8000 levels only.

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

Strategy for Nifty June future – We saw short covering after a long time. I am expecting a test of 8100 marks at least after a good start. Technical support after opening should be at 8050 levels. If day favours then we can expect a big up day today or tomorrow. Condition is that it should not close far from top of the day.

S&P 500 (USA) – Bounce continues and advance towards 2100 levels. Can we expect some more bounce? Yes, there is still a room to go near 2110 to 2115 levels. Technical support will be at 2090 to 2085 levels for trading moves. It is not an easy task to figure out which top will be final but this is equally clear that S&P do not have intensity to move higher. Let us see. It is eighth month of consolidation. 

17 June 2015: Stock Chart Analysis for intraday: ICICIBANK, CENTURYTEX and ACC

ICICIBANK (302.05)

Buy above 304/SL 300/ Target 310-312 || Sell below 298/ SL 301/ Target 293-290

CENTURYTEX (661.60)

Buy above 667/SL 660/Target 685-700 ||Sell below 654/ SL 661/ Target 640-630

ACC (1387.50)

Buy above 1396/SL 1389/Target 1410-1424||Sell below 1376/ SL 1383 Target 1366-1350

16 June 2015: Nifty Elliott wave analysis: Can it above to sustain above 8000 levels on Nifty? We may see decisive moves up or down?

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

For 16 June 2015: -

On 15 June 2015, FII Sold INR – 604.86 crs and DII Bought INR 650.47 crs

If we can keep global concern on another side then we can hope for some more recovery on Indian indices. We saw a high around 8060 yesterday before last hour sell off on Greece fear again. US market has closed on negative note only. So far, market has saved 8000 levels and that may be giving some hopes to bulls.

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, I am expecting flat to nervous start. We are still not too far from 8000 levels. We may see two good technical supports in the down side one is at 7980 and next is at 7930 levels. On higher side we still need to close above 8060 levels to claim for some up days.

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

Strategy for Nifty June future – I do not feel easy to short this market without any meaningful recovery. Equally, long trades are also not giving much profit and chance. Somehow trading range is narrow and volatile. Technical support is at 7970 and 7930 levels. Let us see.

S&P 500 (USA) – I have quoted a support of 2070 levels. Yesterday it has not broken 2070 and took a turn from 2072 levels itself. Will this kind of recovery for lower levels sustain? I do not think so. It has created a sell signal near to 2110-2115 zone and used to be right most of the time. Below 2070 it can hit lower levels of 2045 to 2030 levels in some quick time. On higher side 2110-2115 is stiff resistance.  

16 June 2015: Stock Chart Analysis for intraday: SINTEX, CENTURYTEX and CIPLA

SINTEX (102.35)

Buy above 104/SL 103/ Target 107-105 || Sell below 99/ SL 100/ Target 97-96

CENTURYTEX (614.55)

Buy above 301/SL 299/Target 307 ||Sell below 292/ SL 294/ Target 288-286

CIPLA (585.70)

Buy above 589/SL 584/Target 600||Sell below 579/ SL 582 Target 574-570

15 June 2015: Nifty Elliott wave analysis: We got first close below 8000. Nervousness can drag Nifty towards 7800. Recovery is just a hope not a signal.

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

For 15 June 2015: -

On 12 June 2015, FII Sold INR – 670.96 crs and DII Bought INR 705.58 crs

We saw a low of 7940 in the last trading session and then a small technical recovery. This recovery does not have any big meaning unless Nifty tall above 8000 levels which is still looking tougher but it is very close. Above 8000 we can expect subsequent resistance above 8040 levels. I advise caution till we stay below 8000 levels. Shall we short? Slide may be more like a shock than compared to take favourable risk reward ratio.

I AM KEEPING CORE OF ANALYSIS AS IT IS. Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, I am expecting nervous start. If it sustain below 7940 then we may see a free fall towards 7900 levels or may be much lower. On higher side we can have some hope of technical recovery but there are no such promising signals yet.

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

Strategy for Nifty June future – I gained nearly 25-30 points in last trading day and booked the trade on same day. Now, we have no trade as of now. Global market may go on nervous mood. Technical charts may be favour bulls. Support may range near to 7930 level. Below 7930 we may see sharp slide. For any kind of buy signal I will depend on intraday signal. I hope that recovery should come but I am not too sure.

S&P 500 (USA) – Friday’s fall was in line with my expectation. I strongly believe that 2115 may act as stiff resistance on higher side and it can easily create another strong sell signal in this zone. Big question is will it break 2070 support mark to hit 2045. If not by June then also by July month market should take that kind of dip. Global market is in long term top formation.   

15 June 2015: Stock Chart Analysis for intraday: HEXAWARE, TATASTEEL and WOCKPHARMA

HEXAWARE (272.20)

Buy above 274/SL 272/ Target 278-282 || Sell below 269/ SL 271/ Target 264-262

TATASTEEL (297.55)

Buy above 301/SL 299/Target 307 ||Sell below 292/ SL 294/ Target 288-286

WOCKPHARMA (1317.25)

Buy above 1325/SL 1315/Target 1350-1360||Sell below 1290/ SL 1298/ Target 1270-1260

12 June 2015: Nifty Elliott wave analysis: Below 8000, it has opened for 7960. Below 7960, it is on six months low!!! Achhe din ??? Achhe din ??? Achhe din ??? All silent !!!

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

For 12 June 2015: -

On 10 June 2015, FII Sold INR – 482.11 crs and DII Bought INR 788.06 crs

It has broken 8000 and hit 7960 also. It has closed just above 7960. This is very critical marks to trade. I booked my long in initial minutes only in the last trading session. We lost few points on long attempt near 8000 levels but then moved out of market.

Technical charts have warning sign below 8000 on closing basis. It is suggesting or says giving a hint that we see multiple closing below 7960 then we may be in the position to say that market has done a long term top and scope for fall will open. It may be one of the biggest H&S pattern in past more than 10 years on chart. This can result a fall towards 7000 levels. It is caution time for investment. Is economy and stock market paying price for over hyped political language?

For today’s trading session, I am expecting nervous start. If it sustain below 7960 then we may see a free fall towards 7900 levels. Do you know that last time Nifty was at this level was 17^th December 2015? So it is on six month’s lowest point. On higher side 8000 and 8030 may be a tougher resistance to cross.

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Strategy for Nifty June future – I lost nearly 20 points on long attempt near 8000 levels and then moved out to save by money. Now, I may be in better position to take fresh deal but this deal may not be in favour of bulls. Market trend is down and it has no sign of revival. Discount on Nifty Future is showing nervousness. Panic fall may result 7900-7870 sooner. There is no threshold point for bulls.

S&P 500 (USA) – I can still say that it should have decisive resistance at 2115 in this pull back. I will for shorting opportunity at higher levels. Dull trades are just not good to trade. It has a signal for bounce from the support of 2075-2070. Technical signals are well enough to conclude that it has resistance at higher levels. Long terms top formation should result a decisive fall. Waiting turned too long, longer than seven months now. 

12 June 2015: Stock Chart Analysis for intraday: TATAMOTORS, BPCL and ACC

TATAMOTORS (430.20)

Buy above 436/SL 432/ Target 445 || Sell below 425/ SL 431/ Target 415-410

BPCL (842.40)

Buy above 850/SL 845/Target 860-865 ||Sell below 836/ SL 841/ Target 825-820

ACC (1407.70)

Buy above 1415/SL 1408/Target 1430-1435||Sell below 1399/ SL 1406/ Target 1385-1370