NIFTY WEEKLY CHART

If this diversion Plays on weekly chart with price confirmation then we are heading towards big fall.

NIFTY VIEW

IF THIS DIVERSION PLAYS WE ARE HEADING TOWARDS BIG FALL.

NIFTY LONG TERM VIEW

Weekly Nifty shows a Bearish Engulfing reversal Pattern in 1st Week of the month. Positional  nifty tgt may be 4500 as per the pattern.  So be cautious on Longs. 

TECHM

TECHM FORMED A NICE CUP AND HANDLE PATTERN. 

Buy TechM in deeps near 1150 sl 950 on closing basis. tgt 

1500,1700 in medium term.

CIPLA LTD

SELL CIPLA LTD BELOW 370 TGT 350-330-300 sl above 375.

USDINR

Short USDINR SPOT@ 58.70 SL 59.25 ON CLOSING BASIS. TGT 58-57-56.

SIEMENS

TATASTEEL

Buy TATASTEEL @ 300 sl 290 on closing basis.  tgt 320, 350.

SAIL

Buy With SL of 51 On closing Basis. Tgt are open.                        It is a Bullish Gartley Pattern. 

Shooting Star

Shooting Star on Month chart of Nifty.  It is a bearish/reversal pattern.  

HDFCBANK

SELL HDFCBANK @ 707 SL 730 TGT 680, 640, 620

OFSS, YESBANK, BANKNIFTY

BUY OFSS @ 2440 sl 2350 (closing basis) tgt 2750 , 2890

YES BANK Weekly chart shows sign of reversal.  Also a double top formation with -ve diversion in RSI.  Positionals short with sl of 560 on closing basis. 

If this div. on Plays on weekly chart with price confirmation then we are heading towards big fall.

STER

Buy STER @ 98-99 SL 93 (Closing Basis) tgt 112-117

1^st   4770 – 5349 = 579          

2^nd 5349 – 5032  = 317  (0.55%)

3^rd 5032 – 6112 =  1080  (1.86%)

4^th 6112 – 5477  = 635  (0.58%)

5^th 5477 – 6276 = 799 ( 1.38% of  1^st ) ???

Or 5477 - 6413  = 937 (1.618% of 1^st) ???

Buy ULTRACEMCO @2000 SL 1940 TGT 2100, 2200, 23000

SIEMENS

+ve div. on Day chart of Siemens. Target 200dema 

i.e. 634 sl 465 on closing basis. cmp 490.

Bearish Gartley Pattern

Nifty may forming Bearish Gartley Pattern on day chart.  Possibilities are as follows.

XA  = 6112  - 5664  =  448

B = 5665- 5971 =  306  (68.30% of XA)

C = 5971 - 5682 = 289 (94.44  of AB)

Projection Of D

1.38 of BC  =  6083 

1.618 of BC =  6118

Today is event day.  On the day of event all moving averages are converging towards downside.  Shorts are safe below 5885.  Short term trend is down.  Trend is up above 5950 only. 

Elliott Wave Analysis for Nifty

This is one of the possibility that still up-move is pending.  Above 5971 we may test 6242 or 6442.    Invalidation of the count is below 5550.   

This is another Bearish Count.  A and B finished and we are in C wave may tgt 5522.  Invalidation of the count is above  5972   

C wave is subdividing.  a or 1st and b or 2nd done. and we are in 3rd or c wave. 

We are in the middle of the trend.  Either side breakout possible.  Aggressive longs can be above 5880 with sl of 5850 and aggressive short below 5870 with sl of 5900

Positional Shorts are safe below 5971 only.  Above that bull will rule.  Below 5800 bears will rule.

TATAMOTORS

On Budget Day Nifty Behavior

Nifty’s Movement on Union Budget day since 1999

27th Feb 1999 +5.13%

29th Feb 2000 -5.12%

28th Feb 2001 +4.38%

28th Feb 2002-3.87%

28th Feb 2003+0.19%

08th Jan 2004 +2.54%

08th July 2004 -2.25%

28th Feb 2005 +2.18%

28th Feb 2006 +0.86%

28th  Feb 2007 -4.01%

29th Feb 2008 -1.38%

06th July 2009 -5.83%

26th Feb 2010 + 3.2%

16^th Mar 2011  +4.2 %

14^th Mar 2012  -2.3%              

SBIN

ICICIBANK

This is a dream of bears of ICICIBANK LTD.   This pattern gives very low targets of ICICIBANK.
Stoploss is above 1200 on monthly closing basis.   

USDINR

USDINR trend turns up on weekly basis.  USDINR close above WHEMA.  Next trend line hurdle near 55.30.  Close above that TL breakout possible.  RSI breakout gives early indication.  Daily chart with Andrew Pitchfork still works well.  It is interesting to see will it work further for this upmove.   

USDINR

Buy USDINR in every dip with sl of 53 on closing basis. Positional Tgt is 55-57-60-64. Below 53 close bullish view is invalid.

Buy HDFCBANK ABOVE 656 SL 635 TGT 767 TO 777 IN 2-3 MONTHS

Nifty

Nifty is in falling wadge  breakout above 5960-65 may tgt towards 6000 and above 

KOTAK BANK

Kotak Bank is in Rising Wadge Pattern

ही इतिहासाची पुनरावुत्‍ती तर नव्‍हे ?

NIFTY

Nifty have -ve div on day. with chanel resistance @ 6100 zone. Shorted Nifty with SL of 6130 on closing basis.  

USDINR DAILY

On Daily Charts triangle appear Breakdown may happen below 54 tgt is 53.50, support is 54 i.e. 34wema.   Breakout above 55 may tgt 55.50 1st then above 55.75, 2nd tgt 57 to 60 range.