31 December 2015: Nifty Elliott wave analysis: Year End trade and derivative expiry too. Avoid trade- 7940 is a resistance to watch.

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

For 31 December 2015: -

On 30 December 2015: FII Net Bought – INR 152.20:  DII Net Sold – INR – 74.41

Once again 7940 is on play and market is trading dull on New Year festival mode. I cannot name this as sign of weakness. This used to come every year. I still believe that down side can be the opportunity to add long but here comes shocker. Stopping at 7940 is definitely not a good sign. This is a zone of right solder of mentioned H&S pattern. Hence, I am cautious. I like to wait before concluding.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat opening. Year-end trade and derivative expiry is making it is tougher puzzle to solve. Simple, I will trade long if it can sustain above 7940-7950. If not, then no trade.

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Strategy for Nifty January future – I usually do not trade derivative expiry day. Technical support is at 7900-7890 levels. On higher side it needs to spend time above 7960 to claim for gain. I hope for second half rise but it is just my hope.

S&P 500 (USA) – Once again it is a profit taking from 2075 resistance levels. This profit taking may turned to be opportunity to buy in dip. Somehow US indices are showing enough strength to move higher on New Year. From current levels I am expecting good trading support at 2050 to 2045 levels and advising buy on any possible dip. It is likely to hit 2100. 

31 December 2015: Stock Chart Analysis for intraday: TATAMOTORS, TATASTEEL and RELIANCE

TATAMOTORS (393.45)

Buy above 396/ SL 393/ Target 402-408||Sell below 389/ SL 392/ Target 382-380

TATASTEEL (258.70)

Buy above 261/SL 259/ Target 266-270|| Sell below 255/ SL 257/ Target 249-247

RELIANCE (1004.50)

Buy above 1016/SL 1009/Target 1030||Sell below 999/SL 1005/Target 990-986

30 December 2015: Nifty Elliott wave analysis: Keep your eye on 7940 again. This is decisive before 8000.

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

For 30 December 2015: -

On 29 December 2015: FII Net Bought – INR 8.49:  DII Net Bought – INR – 6.44

We saw a dot pause at 7940. It hit a top and turned silent. This is suggesting the importance of 7940 levels. Once it starts trading above 7940 then it can start moving towards 8000 levels. Based on technical charts I am hoping for levels above 8000 sooner or later.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat to positive opening. Now market is building over budget expectations too. If that’s the case then we may see some sector picking up very soon and those will give good fruit. If Nifty can stand above 7940 then today will be very impressive day for bulls. I am not saying that Nifty can get a top at 8000. It can extend more.

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Strategy for Nifty December future – Once again key is at 7940-7950 levels. If it can stand above 7940-7950 then we can see quick addition of 50-60 points on higher side. That should be equivalent to 8000 levels on Nifty. Do not short this market although there may be some such signal emerges.

S&P 500 (USA) – This is just expected bounce which I was anticipating from past few trading sessions. Big question is will S&P revise above 2100. This is something which is beyond the scope of speculation. So far technical charts are hinting for a move towards 2100 and then market may go on decisive mode. Somehow I feel that it can move higher but it is just my hope. 

30 December 2015: Stock Chart Analysis for intraday: BEL, HINDUNILVR and RELINFRA

BEL (1343.60)

Buy above 1356/ SL 1346/ Target 1374-1390||Sell below 1334/ SL 1343/ Target 1315

HINDUNILVR (857.90)

Buy above 852/SL 858/ Target 842-838|| Sell below 864/ SL 859/ Target 872-876

RELINFRA (508.50)

Buy above 513/SL 508/Target 524||Sell below 499/SL 504/Target 490-484

29 December 2015: Nifty Elliott wave analysis: Great impact of positive divergence on MACD. 8000 may be next level to talk about once it goes above 7940 … … …

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

For 29 December 2015: -

On 28 December 2015: FII Net Sold – INR 302.62:  DII Net Bought – INR – 987.82

Index has slowly moved towards 7940 and this is great from recent low. I have talked about positive divergence on MACD from past many days and this is the great impact of the same. I am expecting levels of 8000 to be tested by this week itself.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat to positive opening. Now market is building over budget expectations too. If that’s the case then we may see some sector picking up very soon and those will give good fruit. If Nifty can stand above 7940 then today will be very impressive day for bulls. I am not saying that Nifty can get a top at 8000. It can extend more.

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Strategy for Nifty December future – Once it was above 7870, it gave all hints for 7925 as given yesterday. Even for today one can expect up move to continue. If case of gap up one must wait for some intraday dip. Do not be in hurry as Nifty spot going at critical 7940. I will utilize dip to buy only.

S&P 500 (USA) – I do not count much about these pullbacks. My study remains same. Technical charts are still favouring the direction towards 2100 from current levels too. 2045 will act as key support for the move. I say one can opt buying in dip for this week too. On higher side I am expecting 2100 levels by this week itself.  

29 December 2015: Stock Chart Analysis for intraday: RELIANCE, TATAMOTORS and RELINFRA

RELIANCE (1010.40)

Buy above 1013/ SL 1004/ Target 1030||Sell below 999/ SL 1008/ Target 988-980

TATAMOTORS (394.00)

Buy above 396/SL 393/ Target 404-410|| Sell below 389/ SL 392/ Target 382-378

RELINFRA (491.20)

Buy above 498/SL 492/Target 510-520||Sell below 484/SL 490/Target 470-465

28 December 2015: Nifty Elliott wave analysis: Derivative week is likely to be dull or bullish. I still expect a move towards 8000 !!!

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

For 28 December 2015: -

On 23 December 2015: FII Net Bought – INR 385.82:  DII Net Bought – INR – 632.64

I have talked about the positive divergence. Based on that positive divergence I believe that Nifty may give an attempt towards 7940. We are on derivative week and will enter to New Year too. If it can able to above 7940 then next key will be towards 8000 levels.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat opening. I am keeping my biasing positive for the day. I will prefer to buy index in dip. It will be good to wait for intraday dip towards 7850 as 7850 to 7800 may act as key support.

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Strategy for Nifty December future – Can we see easy and sustaining crossover of 7870 levels. So far it is just not turning easier. If it does so then we can expect levels of 7925-7940. If not then consolidation will continue. Chance for moving higher side more than the chance of lower side. Do not short. Technical trading support will emerge at 7830-7810.

S&P 500 (USA) – It ended last week on good note with small amount of profit taking in last trading sessions. Technical charts are still favouring the direction towards 2100 from current levels too. 2045 will act as key support for the move. I say one can opt buying in dip for this week too. On higher side I am expecting 2100 levels by this week itself.  

28 December 2015: Stock Chart Analysis for intraday: RELINFRA, TATAMOTORS and SBIN

RELINFRA (493.20)

Buy above 498/ SL 492/ Target 510-515||Sell below 484/ SL 489/ Target 470

TATAMOTORS (382.40)

Buy above 383.50/SL 379/ Target 392-398|| Sell below 378/ SL 381/ Target 372-370

SBIN (228.30)

Buy above 231/SL 229/Target 236-238||Sell below 226/SL 228/Target 222-220

24 December 2015: Nifty Elliott wave analysis: 7870 has done but challenge is on for a good crossover.

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

For 24 December 2015: -

On 23 December 2015: FII Net Bought – INR 385.82:  DII Net Bought – INR – 632.64

I am optimistic but market is showing lot of hesitation in crossing above 7870 levels. Suppose if it does not cross then we can expect a dull trading here and there near 7850 only. We can expect a good trading support at 7825-7800 levels. Short term support will be at 7780 levels.  

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat opening. I am keeping my biasing positive for the day. I will prefer to buy index in dip. There are many stocks which are showing sign of revival from lower consolidation mode. Some stocks are mentioned in our stock analysis.

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Strategy for Nifty December future – Can we see easy and sustaining crossover of 7870 levels. So far it is just not turning easier. If it does so then we can expect levels of 7925-7940. If not then consolidation will continue. Chance for moving higher side more than the chance of lower side. Do not short. Technical trading support will emerge at 7830-7810.

S&P 500 (USA) – For US market, it may be called Santa rally. We saw levels above 2065 too. Current move has enough momentum to suggest for 2100 levels. Once again note that 2100 has history of being dicey levels for traders.  Up as long as it holds 2045 as of now. Hope for more extension in rise for today also. I hope traders are enjoying long from lower levels of 2030. 

24 December 2015: Stock Chart Analysis for intraday: BHEL, DLF and RELIANCE

BHEL (172.10)

Buy above 173/ SL 171/ Target 177-179||Sell below 169/ SL 171/ Target 165-164

DLF (116.10)

Buy above 117.50/SL 116/ Target 120|| Sell below 114/ SL 115/ Target 110-108

RELIANCE (1003.85)

Buy above 1011/SL 1005/Target 1025-1030||Sell below 990/SL 996/Target 978-970

23 December 2015: Nifty Elliott wave analysis: 7850-7870 is still a challenge. Hope to see a surpass very soon. n

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

For 23 December 2015: -

On 22 December 2015: FII Net Bought – INR 168.73:  DII Net Bought – INR – 238.36

Higher levels have failed as Nifty was not able to sustain above 7850 levels. It has closed on logical support of 7780 levels. I do not see big reason for lower levels to sustain although I have not picked lower levels for long yet. Mostly, market used to be dull going in to new year trade.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a positive opening. Anything above 7800 will invite bulls to come in to play. Once again 7850-7870 is a decisive resistance. I repeat that only above 7870 we can able to see fresh wave of rise.

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Strategy for Nifty December future – I am expecting a positive to gap up opening. Above 7800 we can expect levels of 7840-7850. Can we able to see trades above 7870 now? Let us see. I am keenly waiting for the desired move. I may opt to buy dip for the day.

S&P 500 (USA) – As expected, it has sustained above 2030 and then moved forward towards higher levels. The next key challenge for bulls is at 2045. One can consider 2030 as key support for trading. As long as it is above 2030 it has room to go up only. I hope for a move towards 2060 levels. I count it as Santa recovery rather than Santa rally. Hope to convert this into Santa rally. 

23 December 2015: Stock Chart Analysis for intraday: CEATLTD, SBIN and RCOM

CEATLTD (1054.20)

Buy above 1058/ SL 1048/ Target 1075||Sell below 1038/ SL 1047/ Target 1010-1000

SBIN (228.35)

Buy above 230.50/SL 229/ Target 235|| Sell below 226/ SL 228/ Target 222-220

RCOM (85.65)

Buy above 86/SL 85/Target 88-90||Sell below 84/SL 85/Target 82-80

22 December 2015: Nifty Elliott wave analysis: Keep a close eye on 7850-7870 as next strong buy will come above this.

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

For 22 December 2015: -

On 21 December 2015: FII Net Bought – INR 37.37:  DII Net Bought – INR – 62.70

I have already said not to panic at lower levels. We saw good bounce and Nifty is near to 7850 once again. It is important for Nifty to sustain above 7850-7870 levels. I still believe that it Nifty can sustain tall above 7850 then we can see further 1% rise on index.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, we may see a flat opening. For today I am not advising to buy dip. What I want is to buy above breakout price. That breakout price can be above 7850-7870 levels. We need to see the clear sign of strength as if reversal has to come then that will also come from current levels only. This is on sandwiched pattern on candle chart.

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Strategy for Nifty December future – I am expecting a flat opening. If this opening can sustain for first half and then try to challenge higher resistance then it can turn for a buy anytime. Cross above 7870-7875 may give us 7910-7940 levels by the day itself.  

S&P 500 (USA) – It has saved support of 2000-1990 and hence we saw the bounce. Good part is that this one day bounce tried to come near 2030. If it can able to sustain above 2030 then we can see another good extension of rise which used to come from support levels. Note that market has digested the rate hike in a good manner. Be a buyer at dips.  

22 December 2015: Stock Chart Analysis for intraday: ONGC, M&M and IDEA

ONGC (230.45)

Buy above 232/ SL 230/ Target 238-240||Sell below 227/ SL 229/ Target 222-220

M&M (1278.85)

Buy above 1288/SL 1278/ Target 1310|| Sell below 1265/ SL 1275/ Target 1250

IDEA (138.20)

Buy above 139/SL 138/Target 142||Sell below 136/SL 137/Target 133-132

21 December 2015: Nifty Elliott wave analysis: Do not panic at lower levels. Support range = 7725-7700.

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

For 21 December 2015: -

On 18 December 2015: FII Net Sold – INR 6.99:  DII Net Sold – INR – 404.98

I was expecting a profit taking and we got this. I have not picked long yet. Good part is that Nifty came to the next support around 7725 levels. For today’s trading session it may trade near to 7725 here and there. Key thing is that if it can misguide at 7725 then 7700 is also possible and there will be an opportunity for long trades. I am not going to be easily bearish.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, I may opt to buy the fall after gap down as I have not bought the gap down yet. Technically 7725-7700 will be the range of good support. For this week market may be mixed but over all direction may be up from lower levels. It will be good if we see lower levels by today only. I may opt to buy depending on conditions and strength.

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Strategy for Nifty December future – I am expecting opening around 7740 levels irrespective of SGX Nifty. We may see some immediate of panic sell off around 11 am. If I have to be long then I may opt to buy after 11 am trades. Buy with caution with smaller stop loss.  

S&P 500 (USA) – It has broken 2030 support levels and took a dip towards 2000 levels. It has opened wide uncertainty in this zone. Below 2000-1990 there may not be scope of pullback. I may turn a buy if it can save 1990 levels. I repeat buying can be possible from lower levels only. No higher levels looks safer to say as threshold for bulls. 

21 December 2015: Stock Chart Analysis for intraday: RCOM, RELINFRA and TATASTEEL

RCOM (83.25)

Buy above 84/ SL 83/ Target 88||Sell below 81/ SL 82/ Target 79-78

RELINFRA (450.10)

Buy above 454/SL 449/ Target 462-466|| Sell below 443/ SL 448/ Target 435-430

TATASTEEL (255.65)

Buy above 257/SL 254/Target 265-270||Sell below 252/SL 255/Target 248-245

18 December 2015: Nifty Elliott wave analysis: I said for profit taking from 7850 but it may not be a big one. I may opt to buy in dip again.

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

For 18 December 2015: -

On 17 December 2015: FII Net Sold – INR 638.01:  DII Net Bought – INR – 366.23

I have said for profit taking to emerge from a level between 7800 to 7850. We saw a high yesterday at 7850+. Now we are about to get a gap down which is fairly accepted based on chart. Down the line, 7800-7780 may act as good trading support.

One must look on positive divergence on MACD. It is really a huge one and can be capable to nullify the effect of H&S pattern which has emerged on long term chart. If this goes right then we should buy every dip. It’s too early to conclude hence it is just a view so far.

For today’s trading session, I may opt to buy the fall after gap down. I am expecting an intraday recovery.  I may plan to buy in the zone of 7800-7780. I see Nifty going towards or above 7900.

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Strategy for Nifty December future – I am expecting a trusted support at 7780 levels in gap down. Suppose if it opens with gap down and able to save 7780 then we can expect a intraday rebound. Below 7780 do not attempt any long trades. Days may be dead if trades below 7780.

S&P 500 (USA) – It was not entirely unexpected. A profit taking from levels near to 2070. Well, once again I repeat, S&P never goes for comfortable trades near 2100. It does not matter how much time it has spent in that zone. So far I am not bullish or bearish on US indices. If things has to favour bulls from lower levels then 2030 must be protected. 

18 December 2015: Stock Chart Analysis for intraday: RELIANCE, MARUTI and ONGC

RELIANCE (1009.70)

Buy above 1015/ SL 1007/ Target 1030-1040||Sell below 996/ SL 1004/ Target 980

MARUTI (4666.75)

Buy above 4685/SL 4660/ Target 4750-4760|| Sell below 4645/ SL 4665/ Target 4600-4580

ONGC (224.80)

Buy above 227/SL 225/Target 231-233||Sell below 221/SL 224/Target 215-213

17 December 2015: Nifty Elliott wave analysis: Hope for 7800 is still alive. A pullback expected from any levels between 7800-7850.

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

For 17 December 2015: -

On 16 December 2015: FII Net Sold – INR 503.22:  DII Net Bought – INR – 1024.03

7800 is my fairly expected target. Take a note that 7800-7850 may not be easy level to trade or say to cross. One pullback is possible near 7800-7850 before any rise. I am expecting a trade near 7800 and then a pullback from levels between 7800 to 7850.

I must say that one should not neglect the formation of H&S pattern emerges twice. This kind of pattern used to give fluctuation between n-line and shoulder.

For today’s trading session, market may see a gap up. If this gap up goes to 7800 in first minutes of trades then wait for some pullback. The day should still favour bulls from lower levels. What that lower levels can be? I will be happy to see something near 7740-7725. If not then we may not get good trades.

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Strategy for Nifty December future – As I said yesterday 7800 is still under expectation. I rather say that traders should use pullback to trade long. Avoid first half of trade if pullback fails to come. If not today then tomorrow a pullback may come.

S&P 500 (USA) – It goes as expected. We got S&P above 2070. Will this hit 2100? Yes, it can hit but once again I will not prefer to trade long at 2100 levels. I must add that 2100 is a fair possibility before fed meet. Technical support is at 2060 and 2045. I advise strong caution near fed meeting. Take a note that even after pullback no global indices is convincing for new wave of rise. 

17 December 2015: Stock Chart Analysis for intraday: LUPIN, RCOM and LICHSGFIN

LUPIN (1828.80)

Buy above 1832/ SL 1818/ Target 1860-1870||Sell below 1813/ SL 1825/ Target 1790

RCOM (82.05)

Buy above 83/SL 379/ Target 390-394|| Sell below 376/ SL 379/ Target 370-368

LICHSGFIN (479.00)

Buy above 482/SL 478/Target 490-499||Sell below 475/SL 478/Target 468-463

16 December 2015: Nifty Elliott wave analysis: Above 7720 one can expect a move towards 7800. Buy in dip.

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

For 16 December 2015: -

On 15 December 2015: FII Net Bought – INR 48.67:  DII Net Bought – INR – 273.93

I got my anticipated moves when I was on vacation. I am back on work today and market looks in good command of bulls from lower levels. I have few threshold levels to work. Technically, for today’s trading if nifty can sustain above 7710-7720 then we can expect a move towards 7800 by this week only.

Near to fed meeting market may go on silent mode. It is just not advisable to predict the outcome of fed meeting. At least I will take safe hand and I will not take any call on fed now. They can do unpredictable although market is considering for rate hike this time.

For today’s trading session, market may see a gap up. This gap up may be impressive if Nifty can able to manage levels above 7720 for some time. I am bullish for the day and I will prefer to buy stocks except bank but I will buy in intraday dip.

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Strategy for Nifty December future – I opt to buy in dip. Technical resistance can be 7740 which may be opening quote for nifty. If it can sustain above 7740 then next likely target can be 7800. In good case it can hit levels of 7900 also by this week.

S&P 500 (USA) – When I was on vacation S&P hits my target of 2000 and took a smart bounce. I was expecting this kind of move. Slowly we are moving on crucial date in term even as we have fed December meet coming. Market may turn volatile on anticipated outcome. It is very likely to see a rate hike now. Technically, once it sustain above 2045 then we can expect moves towards 2070 too. 

16 December 2015: Stock Chart Analysis for intraday: LUPIN, TATAMOTORS and TATASTEEL

LUPIN (1792.90)

Buy above 1795/ SL 1780/ Target 1830||Sell below 1775/ SL 1785/ Target 1750

TATAMOTORS (379.50)

Buy above 383/SL 379/ Target 390-394|| Sell below 376/ SL 379/ Target 370-368

TATASTEEL (244.35)

Buy above 247/SL 244/Target 252-255||Sell below 241/SL 244/Target 235-233

10 December 2015: Nifty Elliott wave analysis: 7600-7580 may be support before 7530 levels. A relief bounce expected.

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

For 10 December 2015: -

On 09 December 2015: FII Net Sold – INR 527.41:  DII Net Bought – INR – 874.61

I have already projected for levels near 7530 to come once it has broken 7760 levels. We got levels near 7600 and this may get some respect by bears too. Take a note that in recent past whenever it broke 7600 it has never sustained. Looking on that Nifty may try to see a pause here or some pullback at current levels. I am not expecting any big pullback. One should look on H&S pattern emerging. Its two H&S pattern back to back, which is confirming my long term targets of 7000-6500 levels.

For today’s trading session, market may see a flat opening. Afterward, I do expect some support emerging at lower levels. If it can manage to give some relief bounce then it can extend for tomorrow too. I avoid any fresh shorting at current levels.

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Strategy for Nifty December future – I got good on put options which I may opt to unwind by today only. Technically we can expect support at 7600-7580 levels. If it saves the downside support then a bounce is expected.

S&P 500 (USA) – If I do not buy easily at 2100 then equally I do not short 2030 so easily. Technically, if it makes few attempts to come near 2030 then also take cautious view. Fresh short should not be initiated unless it breaks 2030 with good volume. It is a good idea to book profit on all shorts for once near 2040-2045 levels. Let us see. We may have some pullback from here. 

10 December 2015: Stock Chart Analysis for intraday: LT, RELIANCE and TATASTEEL

LT (1300.70)
Buy above 1311/ SL 1298/ Target 1330-1340||Sell below 1293/ SL 1303/ Target 1260

RELIANCE (915.90)
Buy above 924/SL 918/ Target 935-940|| Sell below 909/ SL 915/ Target 900-890

TATASTEEL (226.85)
Buy above 232/SL 229/Target 240-242||Sell below 223/SL 225/Target 218-215

08 December 2015: Nifty Elliott wave analysis: Failure to cross above 7850 may trigger to get for the fall towards 7530.

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

For 08 December 2015: -

On 04 December 2015: FII Net Sold – INR 1745.73:  DII Net Bought – INR – 1069.01

It was way away from 7850 and it never looks to cross. Eventually we got closing near 7760 levels. Logically, I am expecting a gap down which is reflecting by SGX Nifty as well. Most important trading support is at 7680 levels. If breaks then we can expect 7530 levels too which is on my expected target once it failed to cross above 7850.

For today’s trading session, market may refuse to recover from lower levels too. It depends on how market reacts at 7680 levels. Does it make sense for recovery? It may not but optimism may cause pause or small recovery near 7680. I maintain my view for 7530 for this month.

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Strategy for Nifty December future – I picked some puts for this fall. Logically, 7730-7700 is on expected levels. If it fails to maintain support at 7700 levels then we can see fall whole this week. Market is turning nervous near Fed meeting. Pain for Indian market is bigger than any other part of the world.

S&P 500 (USA) – Once again it gave up a big part of Friday’s gain by yesterday night itself. A simple reason is that it was very close to 2100 levels. This is not easily predictable that 2100 is turning out to be crucial resistance. Based on chart, current fall should see extension towards 2045 again before remarkable recovery. Most awaited fed meet may cause some fear. 

08 December 2015: Stock Chart Analysis for intraday: RELIANCE, LUPIN and ITC

RELIANCE (952.05)

Buy above 960/ SL 954/ Target 972-976||Sell below 946/ SL 952/ Target 930-920

LUPIN (1831.65)

Buy above 1841/SL 1831/ Target 1862-1870|| Sell below 1818/ SL 1830/ Target 1800-1790

ITC (313.55)

Buy above 317/SL 314/Target 324||Sell below 309/SL 312/Target 303-300