| Symbol | Exchange | Name | Event | Close at Event | Target Price Range | Opportunity Type |
| AXBK | NSE | AXIS Bank Ltd | Continuation Diamond (Bearish) | 561.00 | 234.00 - 294.00 | Intermediate-Term Bearish |
| TTSP | BSE | Tata Sponge Iron Ltd | Continuation Diamond (Bearish) | 129.15 | 74.00 - 86.00 | Intermediate-Term Bearish |
Sensex Technical View :
Sensex could not breakout above the 10750 level and has broken below 10100-9900 zone which implies a test of 9600 support which if broken it could very well head to 9300/8900 levels on lower side.
So yet again the view remains to wait and watch till Sensex doesnot break out of this range. Till then it could remain in a broad range of 9300/8900 as lower zone and 10750 on upside. Technically as the indices are volatile in a small range its better to wait for 2-3 sessions closing to see direction instead of taking quick conclusions.
Stocks to watchout for :
Glenmark did the tgt of 350 , Deccan , century hit trailing stops.
Had listed a few stocks which should be watched for trades if markets are able to sustain higher levels. But none of the stocks neither markets could move above breakout levels ( ge shipping hit stop ) . MIDCAP fno stocks also would be applicable only later on breakabove.
So again we are in a situation that if the lower zone of 9600 or equivalent lows break can give short selling trades. Listing a few stocks again.
ABB .... will be weak below 475 can tgt 455-440 levels.
Kotak Mahindra Bank below 394 can touch 360 or lower.
HDFC below 1630 , RPL below 79 could be other stocks to watch.
Keep a stop of 3-4 % from entry price and buy only if it sustains below alongwith the market trend.
Sensex could not breakout above the 10750 level and has broken below 10100-9900 zone which implies a test of 9600 support which if broken it could very well head to 9300/8900 levels on lower side.
So yet again the view remains to wait and watch till Sensex doesnot break out of this range. Till then it could remain in a broad range of 9300/8900 as lower zone and 10750 on upside. Technically as the indices are volatile in a small range its better to wait for 2-3 sessions closing to see direction instead of taking quick conclusions.
Stocks to watchout for :
Glenmark did the tgt of 350 , Deccan , century hit trailing stops.
Had listed a few stocks which should be watched for trades if markets are able to sustain higher levels. But none of the stocks neither markets could move above breakout levels ( ge shipping hit stop ) . MIDCAP fno stocks also would be applicable only later on breakabove.
So again we are in a situation that if the lower zone of 9600 or equivalent lows break can give short selling trades. Listing a few stocks again.
ABB .... will be weak below 475 can tgt 455-440 levels.
Kotak Mahindra Bank below 394 can touch 360 or lower.
HDFC below 1630 , RPL below 79 could be other stocks to watch.
Keep a stop of 3-4 % from entry price and buy only if it sustains below alongwith the market trend.
Nifty may open close to 2876 levels, and will be weak breaking 2876 .next intraday support is at 2833-2814 levels.
Now due to the big movement yestrday, all SL will be big for nifty and i can give more levels only once it opens today.
If u see the attached chart, it shows a perfect technical chart where nifty has broken down of a triangle and gives 1st tgt of 2752 thn 2628 with positional view with a SL of 3030 on closing basis.
so risky clients can keep following these levels if they are willing to take a big SL, this will be updated everyday.
now for intraday again , if 2876 sustaing, nifty can give a big pull back up to 3030 levels, however it wont be easy to cross.
also keep strct SL for all trades today , as i am expecting some news based volatile movements
Chart Shows the Last 7 days of Movement in Nifty giving alternate buy and sell signals as per 5 EMA trading system. Look like a consolidation pattern between 2888-3150 only breakout can give direction. So we have to wait for news till the breakout occures
Simply. As the news is gonna decide the breakout.
UPSIDE BREAKOUT WILL LEAD NIFTY TOWARDS 200 WMA OF 3666 IN NEXT 2 WEEKS. HOWEVER FAILING TO CLOSE ABOVE 3100 ON ANY DAY AND SLIPPING DOWN TO CLOSE BELOW 2888 ON ANY DAY CAN SURELY SLIDE NIFTY TO MUCH LOWER CLOSING LEVELS TOWARDS 2800 & THEN TO 2684 DAY CLOSING DURING THE WEEK.A CLOSE BELOW THE CRITICAL CLOSING LEVEL OF 2684 ON ANY DAY CAN THREATEN THE LOWEST CLOSING OF THE YEAR OF 27TH OCT AT 2525 LEVELS.
Nifty :: Short term momentum once again turn down due to global news. As per our Sunday Sensex post, in Sensex 9630 & in Nifty 2860 an important level for upward target .Below it we change target of upswing momentum.. Watch Important level 2860,Below it next strong support 2784/2750.. As per technical term Mid term momentum still up, as far as Nifty hold support 2450.And that’s why in panic please avoid shorting at lower level.. Our strategy for 12th Nov. Up to 2860 buy on deep sell at high, below 2860 sell at high buy on deep... Resistance for up move at 2973/2992/3057/ 3088/3125.. Supports at 2929/2860/2784/2750/2634…
Here are the 5, 10, 20 and 50 day averages. All are now sloping down!
Chart Shows the Last 7 days of Movement in Nifty giving alternate buy and sell signals as per 5 EMA trading system. Look like a consolidation pattern between 2888-3150 only breakout can give direction. So we have to wait for news till the breakout occures
Simply. As the news is gonna decide the breakout.
Nifty :: Short term momentum once again turn down due to global news. As per our Sunday Sensex post, in Sensex 9630 & in Nifty 2860 an important level for upward target .Below it we change target of upswing momentum.. Watch Important level 2860,Below it next strong support 2784/2750.. As per technical term Mid term momentum still up, as far as Nifty hold support 2450.And that’s why in panic please avoid shorting at lower level.. Our strategy for 12th Nov. Up to 2860 buy on deep sell at high, below 2860 sell at high buy on deep... Resistance for up move at 2973/2992/3057/ 3088/3125.. Supports at 2929/2860/2784/2750/2634…
Here are the 5, 10, 20 and 50 day averages. All are now sloping down!
Illusions end with reality. Zapped!
The Indian market opened weak note on the weak global cues and drift lower till the end .For the coming session 2880-2863 will act support if we break 2860 it can drift to 2700 zone on the other side 3054 will act as strong resistances zone . Market will more react on global cues.
The Indian market opened weak note on the weak global cues and drift lower till the end .For the coming session 2880-2863 will act support if we break 2860 it can drift to 2700 zone on the other side 3054 will act as strong resistances zone . Market will more react on global cues.With this fast changing world ,Where news reaches from one corner of world to another
corner in seconds.,Which in turn can influence moment of stock markets worldwide and
increases volatility. A daunting situation for a trader.
Tracking Nifty waves as of now is no less than solving a puzzle.
Let me give my perspective .
Most of the elliotticians would back my on this when I say this is 4th sub wave of the main
3rd wave started on(5/5).
Lets get closer to 3rd main wave we can see a clear 3 waves in it till 27/10.
So here we reach the present situation 4th subwave of main 3rd wave.
Now in 3rd main wave the 2nd sub wave was a simple Zig zag.
Also since 1st subwave is not equal to 3rd subwave or
3rd sub wave is not equal to 0.62*1st subwave
We probably should have a Flat or a triangle here in 4th sub wave.
Lets get little closer to 4th sub wave
The rise from 2250( 27/10) low to 3240(5/11)high(green arrow)
this wave is 3 wave structure or
5wave structure is a debatable topic,:)
Though what happened after that look clear.
From 3240 to 2860 we did 5 waves down(Red arrow) Then...
From 2860 to 3160 we did 3 up(S blue arrow).
So the fall which we witnessed today should consist of 5 waves down.
The First target of this wave comes near 2800-2780
Second target comes near 2600-2550.
Note..A close below 2860 should open... way for down levels.
Let this happen and I would be ready with next Part Analysis
corner in seconds.,Which in turn can influence moment of stock markets worldwide and
increases volatility. A daunting situation for a trader.
Tracking Nifty waves as of now is no less than solving a puzzle.
Let me give my perspective .
Most of the elliotticians would back my on this when I say this is 4th sub wave of the main
3rd wave started on(5/5).
Lets get closer to 3rd main wave we can see a clear 3 waves in it till 27/10.
So here we reach the present situation 4th subwave of main 3rd wave.
Now in 3rd main wave the 2nd sub wave was a simple Zig zag.
Also since 1st subwave is not equal to 3rd subwave or
3rd sub wave is not equal to 0.62*1st subwave
We probably should have a Flat or a triangle here in 4th sub wave.
Lets get little closer to 4th sub wave
The rise from 2250( 27/10) low to 3240(5/11)high(green arrow)
this wave is 3 wave structure or
5wave structure is a debatable topic,:)
Though what happened after that look clear.
From 3240 to 2860 we did 5 waves down(Red arrow) Then...
From 2860 to 3160 we did 3 up(S blue arrow).
So the fall which we witnessed today should consist of 5 waves down.
The First target of this wave comes near 2800-2780
Second target comes near 2600-2550.
Note..A close below 2860 should open... way for down levels.
Let this happen and I would be ready with next Part Analysis
Today's Trade as per "SAR" & "ORB-15 mins":-
Op. range in the 1st 15 min was "3121 - 3091" and 3091 was breached at 10.20 AM initiating a Sell for the day though "SAR" was in sell mode from the start.
3050 being the channel bottom was breached subsequently(10.40 AM) and was challenged very briefly(11.10 AM).
3020 - 5 day ema was breached next(11.35 AM) and was challenged briefly upto 3032 and then the market kept falling faster thereafter.
Tomorrow's Trade:-On the lowerside , the critical supports are at 2880-2860 & then 2775.
5 day ema at 2993.
If tomorrow closes below 2920 (5 day Low ema), stay short.
I have a negative bias for tomorrow.
******************************************************************************
With the bearish engulfing candle, closing below 5 day ema, it is clearly turned down. One more day's action will complete the picture. If it is able to stay above 2860 and rally up & close above 3000, bulls will have a chance.
On the otherhand, if 2860 is broken and only weak rally materialises, it becomes "Sell on rises".
If 2775 is broken decisively, more severe falls likely.
So Tomorrow is very CRITICAL for decisive action ahead.
*****************************************************************************
Well well nifty showed weakness from the opening only and started loosing steam , catching the bulls by surprise , slipped below 3085 and quickly moved towards 2990-3220 area , where it tried to hold but slipped to a low of 2919 intraday. We have to watch 2860-2860 for some support failing which we will go to the next levels of 2780-2670-2631 area quickly..Hope all had booked their longs & taken short trading positions ..lets see where this ends before any positions in long can be thought of, as the sell today was big..enjoy the day...cheers..
Op. range in the 1st 15 min was "3121 - 3091" and 3091 was breached at 10.20 AM initiating a Sell for the day though "SAR" was in sell mode from the start.
3050 being the channel bottom was breached subsequently(10.40 AM) and was challenged very briefly(11.10 AM).
3020 - 5 day ema was breached next(11.35 AM) and was challenged briefly upto 3032 and then the market kept falling faster thereafter.
Tomorrow's Trade:-On the lowerside , the critical supports are at 2880-2860 & then 2775.
5 day ema at 2993.
If tomorrow closes below 2920 (5 day Low ema), stay short.
I have a negative bias for tomorrow.
******************************************************************************
With the bearish engulfing candle, closing below 5 day ema, it is clearly turned down. One more day's action will complete the picture. If it is able to stay above 2860 and rally up & close above 3000, bulls will have a chance.
On the otherhand, if 2860 is broken and only weak rally materialises, it becomes "Sell on rises".
If 2775 is broken decisively, more severe falls likely.
So Tomorrow is very CRITICAL for decisive action ahead.
*****************************************************************************
Well well nifty showed weakness from the opening only and started loosing steam , catching the bulls by surprise , slipped below 3085 and quickly moved towards 2990-3220 area , where it tried to hold but slipped to a low of 2919 intraday. We have to watch 2860-2860 for some support failing which we will go to the next levels of 2780-2670-2631 area quickly..Hope all had booked their longs & taken short trading positions ..lets see where this ends before any positions in long can be thought of, as the sell today was big..enjoy the day...cheers..
Sell ICICIBANK below 426, Target: 418,410 SL: 430
Sell RELIANCE below 1194, Target: 1178, 1160 SL: 1200
Sell UNITECH below 50, Target: 48, 46 SL: 51
Sell LT below 856, Target: 848,836 SL: 861
Sell CAIRN below 141, Target: 137,134 SL: 144
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