April 30,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5195.50. BSE SENSEX Closes at 17378.46.
NIFTY closes above 200 day SMA after Feb 29. Few more closes above 200 day SMA is required to assume strength in charts. NIFTY has closed near our target - 5200 level. It is yet to close above it. It'll happen. However, the time frame is unknown.
If NIFTY closes above 5285.10, then NIFTY would display an excellent chart pattern. However, no long position is encouraged for at least two days. For intraday traders or jobbers anything beyond 5257 could be used to book profits or short.
NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.
NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
4875, 4610 to 4630 act as support levela.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
Wednesday, April 30, 2008
Monday, April 28, 2008
April 28,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5111.70. BSE SENSEX Closes at 17125.98.
NIFTY is just 40 points away from 200 day SMA. Even upper band is just few points away. So, NIFTY stays near crucial resistance levels. Fresh longs are to be avoided.
NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.
NIFTY is likely to test 5200 levels. But it is very difficult to judge the time factor. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
5140 to 5180 level might serve as strong resistance level. Even NIFTY based intraday short positions at 5180 might fetch some jobbing profits. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5111.70. BSE SENSEX Closes at 17125.98.
NIFTY is just 40 points away from 200 day SMA. Even upper band is just few points away. So, NIFTY stays near crucial resistance levels. Fresh longs are to be avoided.
NIFTY is likely to test 5000 levels and there is a technical confirmation for these levels to be tested. Similarly, in the worst case scenario, NIFTY could test a low below 4710 levels. So, trade cautiously with strict stop loss.
NIFTY is likely to test 5200 levels. But it is very difficult to judge the time factor. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
5140 to 5180 level might serve as strong resistance level. Even NIFTY based intraday short positions at 5180 might fetch some jobbing profits. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Advise to Long term investors - Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
Wednesday, April 23, 2008
April 23,2008
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5049.30. BSE SENSEX Closes at 16,783.87.
Although, NIFTY had a good close in the past few trading sessions, it is time to stay cautious. NIFTY penetrated upper band in day before yesterday's closing. So the volatality levels are high and fresh long commitments should be avoided or taken with strict stop losses.
NIFTY is likely to test 5200 levels. But it is very difficult to judge the time factor. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
NIFTY has closed above the Psychological 50 day SMA again. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5130 to 5160 level might serve as resistance level. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5049.30. BSE SENSEX Closes at 16,783.87.
Although, NIFTY had a good close in the past few trading sessions, it is time to stay cautious. NIFTY penetrated upper band in day before yesterday's closing. So the volatality levels are high and fresh long commitments should be avoided or taken with strict stop losses.
NIFTY is likely to test 5200 levels. But it is very difficult to judge the time factor. NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
NIFTY has closed above the Psychological 50 day SMA again. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5130 to 5160 level might serve as resistance level. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
Tuesday, April 22, 2008
April 22,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5037. BSE SENSEX Closes at 16739.33.
"Chart Patterns of NIFTY look excellent. Patterns signal a breakout rally." This is the quote from yesterday's post. NIFTY penetrated important resistance at 5020 as per our expectation. NIFTY has penetrated and closed above an important trend line. Few positive closes from these levels would help NIFTY reach our first target -5200 levels target.
NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
NIFTY has closed above the Psychological 50 day SMA again. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5130 to 5160 level might serve as resistance level. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 5037. BSE SENSEX Closes at 16739.33.
"Chart Patterns of NIFTY look excellent. Patterns signal a breakout rally." This is the quote from yesterday's post. NIFTY penetrated important resistance at 5020 as per our expectation. NIFTY has penetrated and closed above an important trend line. Few positive closes from these levels would help NIFTY reach our first target -5200 levels target.
NIFTY is likely to test 5300 levels as well. It is a medium to long term target.
NIFTY has closed above the Psychological 50 day SMA again. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5130 to 5160 level might serve as resistance level. Similarly 4875, 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed targets in their chart patterns.
Medium to Long term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
Monday, April 21, 2008
April 21,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4958.40. BSE SENSEX Closes at 16481.20.
Chart Patterns of NIFTY looks excellent. Patterns signal a breakout rally.
It was consistently maintained in this post that NIFTY would test 4970 levels. It was tested on Friday. IF NIFTY crosses 5020 intraday, it may gain further momentum.
Let us wait and watch NIFTY to test 5200 levels in short to medium term. Two indicators confirm this.
NIFTY has closed above the Psychological 50 day SMA. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed breakout in their chart patterns.
Short to Medium term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
If INFOSYS & WIPRO closes up with decent volume, they would confirm break out as well.
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4958.40. BSE SENSEX Closes at 16481.20.
Chart Patterns of NIFTY looks excellent. Patterns signal a breakout rally.
It was consistently maintained in this post that NIFTY would test 4970 levels. It was tested on Friday. IF NIFTY crosses 5020 intraday, it may gain further momentum.
Let us wait and watch NIFTY to test 5200 levels in short to medium term. Two indicators confirm this.
NIFTY has closed above the Psychological 50 day SMA. It is a good sign. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term, if there is any negative trigger.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
---------------
RELIANCE, CNX IT,SATYAM and TCS have confirmed breakout in their chart patterns.
Short to Medium term technical target
TCS - Rs.1160
RELIANCE - Rs.2800 to Rs.3000 level
SATYAM COMPUTERS- Rs.540
If INFOSYS & WIPRO closes up with decent volume, they would confirm break out as well.
Thursday, April 17, 2008
April 17,2008
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4887.3. BSE SENSEX Closes at 16244.19.
NIFTY has consistently closed above medium term sma, which is a positive sign. But it signalled indecisiveness yesterday. Positive momentum might stay depending upon the signals from world markets or good results season. If NIFTY crosses yesterday's high(4951.4), further bullishness could be witnessed.
Expectation of good monsoon is a positive factor along with a decent result expectations might help markets to move up in medium term.
4970 - short to medium term target, is yet to be tested. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term.
Crucial support level remains unbroken. NIFTY is likely to close around 5200 levels in short to medium term. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
-------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4887.3. BSE SENSEX Closes at 16244.19.
NIFTY has consistently closed above medium term sma, which is a positive sign. But it signalled indecisiveness yesterday. Positive momentum might stay depending upon the signals from world markets or good results season. If NIFTY crosses yesterday's high(4951.4), further bullishness could be witnessed.
Expectation of good monsoon is a positive factor along with a decent result expectations might help markets to move up in medium term.
4970 - short to medium term target, is yet to be tested. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term.
Crucial support level remains unbroken. NIFTY is likely to close around 5200 levels in short to medium term. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Wednesday, April 16, 2008
April 16,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4879.65. BSE SENSEX Closes at 16,153.66.
NIFTY moved up in expected lines. Infosys results have provided some trigger, especially to IT sector which stayed as laggards. Little bit momentum in IT stocks would make their charts look more bullish. TCS looks good. It may turn fantastic, if positive momentum continues in today's session with a good higher close.
It was mentioned - "NIFTY is likely to test 4815,4915 & 4970 levels in short to medium term" in yesterday post. NIFTY has tested 4815 & 4915 in yesterday rally.
4970 - short to medium term target, is yet to be tested. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term.
Crucial support level remains unbroken. NIFTY is likely to close around 5200 levels in short to medium term. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4879.65. BSE SENSEX Closes at 16,153.66.
NIFTY moved up in expected lines. Infosys results have provided some trigger, especially to IT sector which stayed as laggards. Little bit momentum in IT stocks would make their charts look more bullish. TCS looks good. It may turn fantastic, if positive momentum continues in today's session with a good higher close.
It was mentioned - "NIFTY is likely to test 4815,4915 & 4970 levels in short to medium term" in yesterday post. NIFTY has tested 4815 & 4915 in yesterday rally.
4970 - short to medium term target, is yet to be tested. On the negative side, NIFTY may suffer a huge loss,if there is a negative news or momentum. A low below 4710 is possible in short to medium term.
Crucial support level remains unbroken. NIFTY is likely to close around 5200 levels in short to medium term. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Tuesday, April 15, 2008
April 15,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4777.80. BSE SENSEX Closes at 15,807.64.
NIFTY is consolidating for now and it is yet to set a trend. This consolidation might help NIFTY to form a second strong support base. Good base formation is very essential for long term upsurge to sustain at higher levels. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. Infosys Technologies' Guidance, might serve as the next trigger. Conservative estimate of EPS above Rs.90 for FY09, may please markets. Else, markets may look jittery initially and then wait for any other new trigger.
Crucial support level remains unbroken. NIFTY is likely to test 4815,4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
Monday's crash in Asian markets didn't get reflected in Indian indices, since it was a holiday. If INFOSYS doesn't provide any good trigger, markets may react to it today. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4777.80. BSE SENSEX Closes at 15,807.64.
NIFTY is consolidating for now and it is yet to set a trend. This consolidation might help NIFTY to form a second strong support base. Good base formation is very essential for long term upsurge to sustain at higher levels. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. Infosys Technologies' Guidance, might serve as the next trigger. Conservative estimate of EPS above Rs.90 for FY09, may please markets. Else, markets may look jittery initially and then wait for any other new trigger.
Crucial support level remains unbroken. NIFTY is likely to test 4815,4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
Monday's crash in Asian markets didn't get reflected in Indian indices, since it was a holiday. If INFOSYS doesn't provide any good trigger, markets may react to it today. A good result season might help market to decouple from the world markets.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Friday, April 11, 2008
April 11,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4733. BSE SENSEX Closes at 15,695.10.
NIFTY is consolidating for now and it is yet to set a trend. This consolidation might help NIFTY to form a second strong support base. Good base formation is very essential for long term upsurge to sustain at higher levels. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. Inflation data to be announced today might act as one of the triggers. Guidance given by the Infosys Technologies on April 15th, might serve as the next trigger.
Crucial support level remains unbroken. NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4733. BSE SENSEX Closes at 15,695.10.
NIFTY is consolidating for now and it is yet to set a trend. This consolidation might help NIFTY to form a second strong support base. Good base formation is very essential for long term upsurge to sustain at higher levels. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. Inflation data to be announced today might act as one of the triggers. Guidance given by the Infosys Technologies on April 15th, might serve as the next trigger.
Crucial support level remains unbroken. NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Wednesday, April 09, 2008
April 9,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4709.65. BSE SENSEX Closes at 15,587.62.
NIFTY is consolidating for now and it is yet to set a trend. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4709.65. BSE SENSEX Closes at 15,587.62.
NIFTY is consolidating for now and it is yet to set a trend. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Tuesday, April 08, 2008
April 8,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4761.2. BSE SENSEX Closes at 15,757.08.
As mentioned in previous post NIFTY tested day before yesterday's low and bounced back. The crucial support level remains intact. In fact it seems NIFTY is forming bases at some particular levels. Earlier NIFTY formed a base near bottom at 4450 to 4480 levels. Now around 4600 to 4630. So, these levels might confirm the bottom formation. So, these two levels might act as critical support levels and helps NIFTY to lay a strong foundation. Thanks for the Friday correction.
NIFTY has closed above medium term SMA again. It is a good sign. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4761.2. BSE SENSEX Closes at 15,757.08.
As mentioned in previous post NIFTY tested day before yesterday's low and bounced back. The crucial support level remains intact. In fact it seems NIFTY is forming bases at some particular levels. Earlier NIFTY formed a base near bottom at 4450 to 4480 levels. Now around 4600 to 4630. So, these levels might confirm the bottom formation. So, these two levels might act as critical support levels and helps NIFTY to lay a strong foundation. Thanks for the Friday correction.
NIFTY has closed above medium term SMA again. It is a good sign. Still NIFTY has to move up further to gain strength.
Wait and watch until a new trigger. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Monday, April 07, 2008
April 7,2008
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4647. BSE SENSEX Closes at 15,343.12.
Fundamentals superseded Technicals on Friday. Chart patterns were looking good enough for a bounce back. But the inflation data played a spoilsport.
So, we've to wait until a new trigger for the next move. Friday's low might be tested again. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
------------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4647. BSE SENSEX Closes at 15,343.12.
Fundamentals superseded Technicals on Friday. Chart patterns were looking good enough for a bounce back. But the inflation data played a spoilsport.
So, we've to wait until a new trigger for the next move. Friday's low might be tested again. But crucial support level remains unbroken.
NIFTY is likely to test 4915 & 4970 levels in short to medium term. Similarly, NIFTY is likely to close around 5200 levels in short to medium term.
5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Friday, April 04, 2008
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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S&P NSE NIFTY Closes at 4771.60. BSE SENSEX Closes at 15,832.55.
NIFTY's short term SMA has consistently closed above Medium term SMA for the past few sessions, implying positive momentum to continue. Many important vital SENSEX/NIFTY stocks' chart patterns look good after long time. So markets might turn bullish.
NIFTY is likely to test yesterday's high 4916.75 in short term and the same new high would be tested in the next or near term trading sessions. Similarly, 4970 would be tested in short to medium term.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. 5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
RELIANCE
TCS
INFOSYS TECHNOLOGIES
WIPRO
S.KUMARS NATIONWIDE
__________________________________
S&P NSE NIFTY Closes at 4771.60. BSE SENSEX Closes at 15,832.55.
NIFTY's short term SMA has consistently closed above Medium term SMA for the past few sessions, implying positive momentum to continue. Many important vital SENSEX/NIFTY stocks' chart patterns look good after long time. So markets might turn bullish.
NIFTY is likely to test yesterday's high 4916.75 in short term and the same new high would be tested in the next or near term trading sessions. Similarly, 4970 would be tested in short to medium term.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. 5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Stocks to Watch
RELIANCE
TCS
INFOSYS TECHNOLOGIES
WIPRO
S.KUMARS NATIONWIDE
Thursday, April 03, 2008
Apr 3,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
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S&P NSE NIFTY Closes at 4754.20. BSE SENSEX Closes at 15,750.40.
NIFTY's short term SMA has consistently closed above Medium term SMA for the past few sessions, implying positive momentum to continue.
NIFTY is likely to test yesterday's high 4916.75 in short term and the same new high would be tested in the next or near term trading sessions. Similarly, 4970 would be tested in short to medium term.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. 5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
----------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4754.20. BSE SENSEX Closes at 15,750.40.
NIFTY's short term SMA has consistently closed above Medium term SMA for the past few sessions, implying positive momentum to continue.
NIFTY is likely to test yesterday's high 4916.75 in short term and the same new high would be tested in the next or near term trading sessions. Similarly, 4970 would be tested in short to medium term.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. 5010 to 5020 levels might act as resistance level. Similarly 4610 to 4630 act as support level.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Wednesday, April 02, 2008
Apr 2,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4739.55. BSE SENSEX Closes at 15,626.62.
"we prefer tomorrow's low being tested today before a bounce back happens" - Quote from yesterday's post. NIFTY behaved as per our expectation.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. NIFTY might test 4970 levels in short term. Market has provided an opportunity to investors for shopping, yesterday.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
----------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
S&P NSE NIFTY Closes at 4739.55. BSE SENSEX Closes at 15,626.62.
"we prefer tomorrow's low being tested today before a bounce back happens" - Quote from yesterday's post. NIFTY behaved as per our expectation.
We still maintain bullish stance. So, even a steep recovery could be witnessed in short term. NIFTY might test 4970 levels in short term. Market has provided an opportunity to investors for shopping, yesterday.
NIFTY is likely to test 5200 levels in short to medium term. Bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
Tuesday, April 01, 2008
Apr 1,2008
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NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
NSE NIFTY Closes at 4734.5. BSE SENSEX Closes at 15,644.44.
Although NIFTY had a drastic fall yesterday, a bullish signal has emerged with reference to short term sma and medium term sma. So, still our bullish stance remains. So, even a steep recovery could be witnessed in short term.
However, we prefer tomorrow's low being tested today before a bounce back happens. Yesterday's drastic fall is surprising. Market has provided an opportunity to investors for shopping.
NIFTY is likely to test 5200 levels in short to medium term.
Day charts ensure an intra day high above 4970 in short to medium term. Unless any news from external front affects the market, bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.
----------
NIFTY OUTLOOK - TECHNICAL ANALYSIS
__________________________________
NSE NIFTY Closes at 4734.5. BSE SENSEX Closes at 15,644.44.
Although NIFTY had a drastic fall yesterday, a bullish signal has emerged with reference to short term sma and medium term sma. So, still our bullish stance remains. So, even a steep recovery could be witnessed in short term.
However, we prefer tomorrow's low being tested today before a bounce back happens. Yesterday's drastic fall is surprising. Market has provided an opportunity to investors for shopping.
NIFTY is likely to test 5200 levels in short to medium term.
Day charts ensure an intra day high above 4970 in short to medium term. Unless any news from external front affects the market, bullish momentum is likely to be maintained.
NIFTY is sure to test 6260 and 6345 levels in 6 to 12 months period. So, there is no need to panic. Patience should be maintained at least until 6250 is tested.
Note: These views do not have any relevance to NIFTY futures.