30 October 2015: Nifty Elliott wave analysis: As it is below 100 DMA so expect a test of 50 DMA which is at 8025.

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

For 30 October 2015: -

On 29 October 2015: FII Net Bought – INR 174.12:  DII Net Sold – INR – 299.20

Expiry ended at 8110 which is just not good enough to say for further rise. Take a note that Nifty has failed to revive near 200 DMA. It has seen fall from levels before that. Now it is trading below 100 DMA. It seems that next achievable target can be around 50 DMA which is at 8025 levels.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices. The first impact of H&S is coming in line with my expectation.

For today’s trading session, I am expecting a mild negative opening again. I am expecting levels around 8025 levels. A fall towards 8025 may invite panic too. Take a note that bank Nifty has seen further weakness and looking weaker than Nifty. As much lot size is increasing in a big way from today one can expect less participation by retail traders. I am strongly criticizing this sort of havoc lot size. This is an attempt to keep small traders away from market and giving leverage to big players. It invites unhealthy activities in market.

Index may not give flavour to trade.

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Strategy for Nifty November future – I say a short below 8175 and I wend on it. My first expected target is at 8080 levels. If it breaks further then we can expect levels 8000 too in very small time. It may take 1-2 trading sessions to challenge 8000 levels. A level near 8000 may be a point to watch.

S&P 500 (USA) – I am keeping my study remains same. How to deal on S&P near 2100? I must say that old days are back and it may try to add more advances. Big question is will it challenge all-time high. I have no trade but my view is to give an edge to the bulls as long as it is above 2075-2060 levels. Zigzag range bound session has no great meaning for trade. This is not short as long as it is above 2075. 

30 October 2015: Stock Chart Analysis for intraday: GAIL, SUNPHARMA and SBIN

GAIL (313.00)

Buy above 316/ SL 314/ Target 323||Sell below 309/ SL 311/ Target 302-299

SUNPHARMA (878.90)

Buy above 888/SL 882/ Target 902|| Sell below 874/ SL 881/ Target 860-855

SBIN (236.95)

Buy above 240/SL 238/Target 246||Sell below 234/SL 236/Target 229-224

29 October 2015: Nifty Elliott wave analysis: Avoid expiry day to trade. A bounce possible if Nifty can spend time above 8180.

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

For 29 October 2015: -

On 28 October 2015: FII Net Sold – INR 731.17:  DII Net Bought – INR – 107.17

It has broken and stays below 100 DMA. Nifty future finally settled lower. Today is derivative expiry and I do not prefer this day for trading. Can we expect a contra bounce? Well, if Nifty stays below 8180 then a chance for such bounce is very low. If it can stand above 8180 then we may have a possibility.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices. The first impact of H&S is coming in line with my expectation.

For today’s trading session, I am expecting a mild negative opening. A view is that Indian market will decide it course of action for November month by today itself. If bounce is a desire then it should come today only. If not then I can see expiry going near 8100-8080 levels. I strongly say that derivative day can be dicey as market was in range for most part of this derivative month.

Index may not give flavour to trade.

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Strategy for Nifty November future – A simple deal is short below 8175 and long above 8230. Can this happen easily? It may be not. Let us see how it shapes up. If bounce comes lower then we can see a firm bounce. This is just an expectation based on technical.  Elliott wave pattern is giving signal for a possible short term dip. I may opt to take trade sooner on this signal.

S&P 500 (USA) – I said a 50-50 deal at 2075 and it goes in favour of bulls. Sequentially it hit a level of 2090 and it opens the scope of hitting 2100 levels. How to deal on S&P near 2100? I must say that old days are back and it may try to add more advances. Big question is will it challenge all-time high. I have no trade but my view is to give an edge to the bulls as long as it is above 2075-2060 levels. 

29 October 2015: Stock Chart Analysis for intraday: SBIN, BHEL and ITC

SBIN (242.05)

Buy above 245/ SL 243/ Target 249||Sell below 239/ SL 241/ Target 234-232

BHEL (212.40)

Buy above 215/SL 213/ Target 220|| Sell below 210/ SL 212/ Target 206-204

ITC (355.20)

Buy above 359/SL 357/Target 365||Sell below 353/SL 355/Target 346-342

28 October 2015: Nifty Elliott wave analysis: A day left for derivative expiry but it is still range bound. 8180 is likely below 8250-8225.

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

For 28 October 2015: -

On 27 October 2015: FII Net Bought – INR 9.50 :  DII Net Sold – INR – 165.45

Practically, Nifty spends time in just 10 points range for most part of the time yesterday. This is expected October month’s choppiness. Now, we are just one day away from derivative expiry. This makes market uneasy for trade on index.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am expecting a mild negative opening which may be just a continuation of yesterday’s dip. Unless market opens its range by itself it may remain range bound. As it is trading below 8250 so I have few reasons to accept for the downside target at 8180.

Index may not give flavour to trade.

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Strategy for Nifty October future – We are just a day from derivative expiry and we can only hope for the end of this choppy days. Usually it used to remain choppy till Diwali. If that’s the case then we have no great reason to expect moves for two weeks more. If may be down but it has to say about magnitude of down side.  

S&P 500 (USA) – As expected it is choppy now. It has drop from 2075, a pause at 2060 with a close at2065. I expect some choppy moved near this resistance of 2075. Most of the global indices are in range bound mode. Many looks tired too. Technically there is no great sign of weakness. So far market looks to take a fresh move. It can be down and it can be up too. It is 50-50 call now. Hence there is no trade.  

28 October 2015: Stock Chart Analysis for intraday: LT, MARUTI and LUPIN

LT (1494.75)

Buy above 1510/ SL 1500/ Target 1545||Sell below 1486/ SL 1496/ Target 1460-1450

MARUTI (4497.00)

Buy above 4510/SL 4495/ Target 4560|| Sell below 4475/ SL 4490/ Target 4420-4400

LUPIN (1945.65)

Buy above 1960/SL 1948/Target 1990||Sell below 1934/SL 1946/Target 1900-1890

27 October 2015: Nifty Elliott wave analysis: Below 8250-8225 it can hit a support at 8180. Below 8180 it can be under firm grip of bears.

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

For 27 October 2015: -

On 26 October 2015: FII Net Bought – INR 724.51 :  DII Net Sold – INR – 530.78

Tiredness is in air now. It has failed to move even close to 8400 even after Chinese booster. So far as long as it is above 8250 charts may not give a firm sign of trade. It was choppy even yesterday. Chances are bright for the range to open today on lower side. I have a figure of 8180 in my mind right now. If it breaks 8250 then it is likely to hit 8180.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am expecting a mild negative opening which may be just a continuation of yesterday’s dip. If it sustains sufficient time below 8250-8225 then we can think for further 50-60 points of fall.  On higher side 8300 and 8330 may act as tougher and decisive resistance.

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Strategy for Nifty October future – We are moving close to derivative expiry. For most part of the trading it was choppy. Hence it may be a tough job to say about direction towards expiry. Based on technical indicators, below 8250 it may be under grip of bears. A firm bears. Can it happen?

S&P 500 (USA) – It just hit a top at 2075 last night and dropped a little. It is still not weak enough but justified my resistance of 2075. Unless it crosses above 2075 we cannot think for further rise. It is the time to talk about resistance as it may be on task now. The best case is that it can turn choppy near 2075 but further rise looks tougher. 

27 October 2015: Stock Chart Analysis for intraday: TATAMOTORS, MARUTI and RELIANCE

TATAMOTORS (384.60)

Buy above 388/ SL 385/ Target 394||Sell below 383/ SL 385.50/ Target 376-370.

MARUTI (4385.15)

Buy above 4415/SL 4400/ Target 4445|| Sell below 4375/ SL 4390/ Target 4330-4300

RELIANCE (942.85)

Buy above 952/SL 946/Target 960-966||Sell below 938/SL 945/Target 920-910

23 October 2015: Nifty Elliott wave analysis: A gap up is coming which may give a pop up top. Nifty resistance – 8400

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

For 23 October 2015: -

On 21 October 2015: FII Net Bought – INR 48.33 :  DII Net Sold – INR – 138.73

Indian market is trading choppy from past many days. As said October remains range bound. I have already said that close above 8250 may generate a possibility for a move towards 8400. We got a big bounce in US market last night. This may push some higher opening.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am expecting another higher opening which may be a volatile top. First hour top may be crucial top for the market for rest of the day. Take a note that we have derivative expiry next week without doing much for this month. As it is a gap up so there will not be many trades.

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Strategy for Nifty October future – Either it remains choppy or goes on gap trades. None is tradable and this remains characteristic of this months. After a gap up we have a possibility to see a pop up top formation. If that happens then 8350 may be a resistance. Below 8280, bears may take their stand sooner.

S&P 500 (USA) – S&P goes on expected move above 2045. A hit towards 2060 is very likely now. It has generated a momentum. Technically it can move towards 2075 also if able to sustain above 2060 levels. Be cautious at higher levels. One resistance will fail sooner. So far up and hence up. Long term trend bound to be down and this is shirt term up trend only. Current rise is an impact of two breakout crossovers; one was at 1950 and next was at 1990. 

23 October 2015: Stock Chart Analysis for intraday: TATASTEEL, INFY and CANBK

TATASTEEL (244.40)

Buy above 247/ SL 244.50/ Target 251-253||Sell below 242/ SL 244.50/ Target 235

INFY (1138.40)

Buy above 1147/SL 1138/ Target 1160-1140|| Sell below 1125/ SL 1134/ Target 1110-1100

CANBK (294.10)

Buy above 297/SL 294/Target 303||Sell below 293/SL 295/Target 287-284-280

21 October 2015: Nifty Elliott wave analysis: 100 DMA support comes at 8205 levels. It can be another dead choppy session.

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

For 21 October 2015: -

On 20 October 2015: FII Net Bought – INR 523.69:  DII Net Sold – INR – 354.96

In a choppy session it saved crucial supports. Now 100 DMA support is around 8205 levels. I still feel the choppy days to continue on index. On higher side 8300+ levels are looking like a resistance on tired mode. In general, tired moves need a fresh breakout for further rise. If that can be the case then we can expect a test towards 100 DMA.  

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am expecting a flat opening. This opening may get technical support around 8200 levels if it sees any profit taking. On higher side resistance will emerge in the zone of 8300-8320 levels. Be cautious at higher levels.

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Strategy for Nifty October future – Too many choppy sessions may invite trouble. Hence, traders need to be cautious at higher side. Once again Banking Index is looking weak. If this continues then Nifty can see a fall before trading 8300. Well, downside may be limited around 8200 levels. For further dip it need to give fresh signal.

S&P 500 (USA) – S&P goes to hit a high at 2039 before closing at 2030. As said it took a move towards 2045 but showing tiredness.  Technical support of 2020 is still valid. We can expect revival as long as it holds 2020 levels. It can invite trading trend to open for downside if it breaks 2020 levels. Can it able to cross above 2045? Wait for fresh breakout.  

21 October 2015: Stock Chart Analysis for intraday: TATASTEEL, RELIANCE and LT

TATASTEEL (240.80)

Buy above 245/ SL 242.50/ Target 251-253||Sell below 238/ SL 240/ Target 230

RELIANCE (956.70)

Buy above 964/SL 958/ Target 978-980|| Sell below 948/ SL 954/ Target 940-935

LT (1573.55)

Buy above 1585/SL 1576/Target 1605-1615||Sell below 1565/SL 1573/Target 1540

20 October 2015: Nifty Elliott wave analysis: One more dead session ahead Support stand at 8250-8225 levels.

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

For 20 October 2015: -

On 19 October 2015: FII Net Bought – INR 898.23:  DII Net Sold – INR – 246.26

It can turn choppy anytime just like yesterday. It opened at a point and kept trading on same levels becomes closing to the same levels. If things go like this then we may not have any trade on index. Based on technical chart Nifty is above 8250 and this is a good sign for bulls as a possibility towards 8400 levels too.  

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am not so firm on index. I feel that one can make intraday deal on long side as long as it holds 8250-8225 levels. Shorts cannot open at higher end as there is no sign of weakness. It may get sign of tiredness but not the weakness. It has another rising wedge formation. A top is sooner before fall.  

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Strategy for Nifty October future – It has over done on hourly chart but low volume can result this kind of sharp rise. Just based on technical chart 8400+ levels may be reality for this month of trade. Mostly I am avoiding this month for any positional trades. For today’s trade trading support can stand in the zone of 8190-8200 levels.

S&P 500 (USA) – It hit a low around 2022 yesterday in intraday dip. This confirms the support at 2020 but on daily chart it is giving sign of tiredness. This cannot be concluded as sign of weakness. So far this is up. I see 2045 as achievable target. If it breaks 2020 then only one can exit from all long. Crossover of 2045 can add another boost towards 2060 levels. 

20 October 2015: Stock Chart Analysis for intraday: TATASTEEL, RELIANCE and TATAMOTORS

TATASTEEL (248.40)

Buy above 246/ SL 248.50/ Target 240-238||Sell below 251/ SL 249/ Target 256-258

RELIANCE (963.50)

Buy above 967/SL 961/ Target 978-980|| Sell below 954/ SL 960/ Target 940-935

TATAMOTORS (378.70)

Buy above 384/SL 381/Target 390-394||Sell below 374/SL 377/Target 365-360

19 October 2015: Nifty Elliott wave analysis: It will open scope to hit 8400+ levels if able to close above 8250 levels.

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

For 19 October 2015: -

On 16 October 2015: FII Net Bought – INR 436.79:  DII Net Bought – INR – 102.49

On Friday it was dead for most part of the day and then suddenly it got a boost to see a sharp rise. Eventually it came near to the high point which it has tested on Monday itself. This set up is definitely bullish and it can turn more bullish once it goes above 8250 levels.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices.

For today’s trading session, I am expecting a flat to negative opening. Big question is still alive. Will it cross 8250? What looks easier but may not be much easier. One thing is for sure that above 8250 it becomes bull’s playground. This up trend remains intact as long as it is staying above 8080.

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Strategy for Nifty October future – It has over done on hourly chart but low volume can result this kind of sharp rise. Just based on technical chart 8400+ levels may be reality for this month of trade. Mostly I am avoiding this month for any positional trades. For today’s trade trading support can stand in the zone of 8190-8200 levels.

S&P 500 (USA) – As long as it is above 2020 it can take attempts to move towards 2045 to 2060 levels. This is a short term move. There is no single signal of weakness unless it tired by itself. Trading trend is us but I still consider that long term trend is down. I need to remind that we are almost on same levels where US market turned sluggish last year. 

19 October 2015: Stock Chart Analysis for intraday: YESBANK, LUPIN and ACC

YESBANK (773.20)

Buy above 778/ SL 773/ Target 789-795||Sell below 768/ SL 773/ Target 756-750

LUPIN (2055.30)

Buy above 2068/SL 2059/ Target 2094|| Sell below 2044/ SL 2054/ Target 2020-2010

ACC (1393.70)

Buy above 1403/SL 1395/Target 1420-1424||Sell below 1384/SL 1392/Target 1370

16 October 2015: Nifty Elliott wave analysis: Expected resistance can emerge in the range of 8225-8250 once again.

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

For 16 October 2015: -

On 14 October 2015: FII Net Bought – INR 121.75:  DII Net sell – INR – 207.63

Hall mark trade of these days are a close near the opening price. This used to happen in festival season and volume remains down. There is no great way to trade in this range. US market saw a big rise last night. This may push some higher opening for the day.

In the absence of any trading trigger this dull move can extend longer. I do not see the possibility for the opening of this trading range sooner.

For today’s trading session, we may see some flat to positive opening. It has saved 8080 support levels and moving towards 8200 levels. I am expecting resistance to emerge in the zone of 8225-8250 levels. I still say participate in this month of trade. Technical indicators may not give comfort. Although it is true that above 8250 Nifty can try to hit 8400 levels.

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Strategy for Nifty October future – We are not trading index in these days. This can go choppy around 8200-8225 once again. I will participate in a clear breakout only. it does not matter if it comes on higher side or lower side. Trading range can see more dullness.

S&P 500 (USA) – It saves 1990 and then it took out the top which it has registered on Fed meet day. This shows a momentum. The next achievable target for S&P is around 2045-2060 levels. It has every chance of turning choppy near this kind of levels. Equally as long as it is above 2020 there is no threat of fall. A trading move turns bullish above 2020. 

16 October 2015: Stock Chart Analysis for intraday: RELIANCE, BPCL and CANBK

RELIANCE (903.70)

Buy above 906/ SL 899/ Target 914-920||Sell below 898/ SL 903/ Target 890-885

BPCL (893.10)

Buy above 896/SL 890/ Target 910|| Sell below 887/ SL 893/ Target 875-870

CANBK (301.75)

Buy above 305/SL 302/Target 312-315||Sell below 297/SL 300/Target 290

15 October 2015: Nifty Elliott wave analysis: Saving on 8080 can result a move towards 8180-8200 levels. Mostly it will be range bound again.

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

For 15 October 2015: -

On 14 October 2015: FII Net Bought – INR 121.75:  DII Net sell – INR – 207.63

We can see an unclear diamond formation in current choppy moves. I have already said that Indian market is running on festival mode. Nifty is ranging in just 40 points for most part of the day. Participation is turning lower. This does not give much trading opportunity on index.

In the absence of any trading trigger this dull move can extend longer. I do not see the possibility for the opening of this trading range sooner.

For today’s trading session, we may see some flat to positive opening. It has saved 8080 support levels. The next possible move can be attempt of recovery. We cannot say the length of this recovery. It can die any moment. I prefer to be on wait and watch mode again.

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Strategy for Nifty October future – We booked our short in the zone of 8140-8130 which we had initiated at 8200-8210-8220. Since then we have no trade on index. If it violates the support of 8090-8080 then only we can think to trade short again. If not then recovery can extend towards 8170-8180-8200. I do not expect bigger trade than this.

S&P 500 (USA) – An expected fall hit the Wall Street but took a pause at 1990. As I said earlier this is a make or break level. If it breaks 1990 then we can expect further dip If it makes from here then we will see range bounce trade from 1990 to 2020 levels. October is usually a bad month for US market. Take a note that this is a recovery after a fall. So far this is only a recovery. Long term direction is still down. 

15 October 2015: Stock Chart Analysis for intraday: LUPIN, INFY and MARUTI

LUPIN (2066.85)

Buy above 246/ SL 244/ Target 250-252||Sell below 242/ SL 244/ Target 238-235

INFY (1097.60)

Buy above 1111/SL 1103/ Target 1135|| Sell below 1082/ SL 1092/ Target 1050

MARUTI (4249.75)

Buy above 4255/SL 4240/Target 4300-4320||Sell below 4235/SL 4250/Target 4220-4200

14 October 2015: Nifty Elliott wave analysis: 8080 will go at make or break levels. If breaks and close below 8080 then then 8000 is inevitable.

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

For 14 October 2015: -

On 13 October 2015: FII Net Bought – INR 272.61:  DII Net sell – INR – 273.51

A dip from 100 DMA is so far just a nominal profit taking. Technically if it breaks 8080 levels then we can see some concerning note. Will this go that much concerning. In normal circumstances if it breaks 8080 levels then we have a possibility to visit 8000 levels.

I cannot name it as sign of weakness unless it closes below 8080. This is key support levels which market may not find easier to cross. Can it go choppy around this level? Yes, it may.

For today’s trading session, we may see some gap down opening. US market is on threat of fall. Technology stocks may spoil market mood as TCS has again presented a bad result. On higher side Nifty will face stiff resistance at 8150-8170 levels. Do not trade long at least from any levels. If you want to buy stocks then move out from market.

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

Strategy for Nifty October future – I can say now that if it breaks 8090 levels then it can invite some big trouble with a threat of fall below 8000 levels. October is usually a choppy month for Indian market. I am definitely not in mood to participate much as this market can turn choppy at any levels. Most days are ranging in just 40 points. Technical resistance is at 8170.

S&P 500 (USA) – So, we saw fall from 2020 levels. This was quite expected and well predicted. This fall can extend on serious note if by any chance it breaks 1990 levels. I expect a down side break again. October is historically a bad month for US market. This sluggish move can turn on big sell again anytime. We still need to wait for more confirmation. 

14 October 2015: Stock Chart Analysis for intraday: HEXAWARE, INFY and MARUTI

HEXAWARE (243.80)

Buy above 246/ SL 244/ Target 250-252||Sell below 242/ SL 244/ Target 238-235

INFY (1099.40)

Buy above 1111/SL 1103/ Target 1135|| Sell below 1082/ SL 1092/ Target 1050

MARUTI (4273.85)

Buy above 4306/SL 4290/Target 4350||Sell below 4260/SL 4280/Target 4220-4200

13 October 2015: Nifty Elliott wave analysis: A profit taking from near to 8250 may get support around 8080. Fresh short can be added only if it breaks 8080.

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

For 12 October 2015: -

On 09 October 2015: FII Net Bought – INR 317.56:  DII Net sell – INR – 175.07

As quoted yesterday we saw a top around 8250 and then a fall hit. This is a normal profit taking. Most bullish position is maintaining a stop loss around 8080 levels. Current profit taking came from 100 DMA which is an usual event.

I cannot name it as sign of weakness unless it closes below 8080. This is key support levels which market may not find easier to cross. Can it go choppy around this level? Yes, it may.

For today’s trading session, we may see some opening on flat note but immediate support is around 8080 levels only. If it breaks 8080 then we may have some chance for significant profit taking. On higher side 8200-8250 will a short term resistance.

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

Strategy for Nifty October future – We have added a short in the zone of 8200-8210-8220 on higher side but this month may remain dull most of the time. I am looking for a target around 8100. Further trades depend on market condition. I can still say trade less for this month.

S&P 500 (USA) – My study remains same. This technical recovery may end anytime now. This gives us a sense that 2020 is a nearest resistance and recovery may not extend beyond 2020 levels. I feel that market will go on choppy mode now as it has saved itself from further weakness. Dull days are not suitable to trade but this is giving a sense to short around current levels now with stop loss above 2020 on closing basis. 

13 October 2015: Stock Chart Analysis for intraday: HEXAWARE, TATASTEEL and LUPIN

HEXAWARE (246.40)

Buy above 250/ SL 248/ Target 255-256/Sell below 245/ SL 247/ Target 240-238

TATASTEEL (250.85)

Buy above 254/SL 252/ Target 258-260|| Sell below 249/ SL 251/ Target 245-243

LUPIN (2009.80)

Buy above 2022/SL 2013/Target 2045||Sell below 1999/SL 2009/Target 1970-1960

12 October 2015: Nifty Elliott wave analysis: All eyes on Infosys result now. Technically, 8225-8250 is still a resistance to be tested on closing basis.

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

For 12 October 2015: -

On 09 October 2015: FII Net Bought – INR 483.86:  DII Net sell – INR – 369.00

Trading range was little broader compare to rest of the week on Friday but closing goes on dull note again. Now, market is on most crucial day of the October months. We have Infosys result today. Largely, October is assumed to be a dull month but today we may have some exception. Market may try to make some move today but direction is not known yet.

Based on technical chart, one can try some shorting near 100 DMA with small stop loss. If profit taking fails to come at current levels then rest of the month remains dull again.

For today’s trading session, we may see some opening backed by Infosys result. Up or down that should depends on technical index whose behaviour will depend on Infosys result. Technical charts are justifying for resistance to emerge in the range of 8225-8250 levels. Threat of trend truncation will emerge only on close below 8080 levels.  

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

Strategy for Nifty October future – If it wants to be up then it also it can be up for first hour of trade. Technically we may be on the last leg of rise. If first hour top emerges below 8250 then it turn to sell anytime now. Note that we already have eight days of rise.

S&P 500 (USA) – My study remains same. This technical recovery may end anytime now. This gives us a sense that 2020 is a nearest resistance and recovery may not extend beyond 2020 levels. I feel that market will go on choppy mode now as it has saved itself from further weakness. Dull days are not suitable to trade but this is giving a sense to short around current levels now with stop loss above 2020. 

12 October 2015: Stock Chart Analysis for intraday: INFY, TATASTEEL and RELIANCE

INFY (1167.40)

Buy above 1175/ SL 1165/ Target 1200-1220/Sell below 1155/ SL 1164/ Target 1120-1100

TATASTEEL (251.10)

Buy above 252/SL 250/ Target 256-258|| Sell below 247/ SL 249/ Target 242-240

RELIANCE (887.35)

Buy above 898/SL 893/Target 907-915||Sell below 880/SL 885/Target 870-865