NEWS

(Rajandran)

Martin Amstrong's PI cycle(8.6 Years cycle) is an intresting topic for those who are intrested in tracking Global Economy, Mathematics and Business Cycles. Those who are interested can look at Martin Amstrong's. --- 8.6 Year Business Cycle

(Ilango)

SantyToday Nifty opened with huge gap crossing the previous resistance (3150), continuously traded higher and closed high at 3224. Market looks very bullish and it is advisable to go for long in proper pullback (swing low) with tight stop loss. Near support is seen at 3205 and resistance at 3407. If bullish sentiment persists then market could see 3400 pretty soon. Tomorrow market could be volatile and profit taking will be seen. So be cautious while entering any BUY or SELL order. For intraday trading opportunity, BUY the pullback and Sell retracements. For swing trading opportunity wait for pullback near 3200 with stop loss at 3150 for target at 3300.

Manoj chopra

Since, I have neutral to bearish view; my comments may be in line with my view. Better make your own observation and enter in trade – often in past my view have gone wrong.

My Observation of Nifty from weekly charts.

Nifty has moved 27% or 690 points in just 4 weeks.

From the chart it’s clear that the 13 WEMA has turned positive with volumes and has given a buy signal.

But it would be not advisable to go long since it has moved so fast in quick time and is ripe for some correction before any further up move – it would be prudent to buy on dips rather than buying now – since the price are in overbought zone, nearly in the area of the upper channel envelope and it faces immediate resistance at 3240 previous high, since October low and there is downward sloping Trend line around 3440-480 ,from the highs of the January 2008,which could act as a tough resistance for Nifty in coming days.

RSI is near resistance level, indicating strong resistance for Nifty.

Since the risk reward ratio is not in favor of longs, so it would better to stay in sideline and wait for better opportunity to enter Nifty if it tests the 13 WEMA is around 2920 levels , at present, to initiate any longs with stop loss of 2770.

From Daily charts

Daily charts too indicates bullishness as weekly chart – its clear from the charts that Nifty is in overbought territory as indicated by the Bollinger Band, and also supported by the dropping MACD Histogram. So it would be advisable better enter on dips as mentioned on weekly chart observations or High risk trader can short, Nifty with stop loss of 3250, if Nifty dips below 3080 for a target of 2965 / 2885 / 2802, in coming days. Rise has been sharp and narrow forming a wedge or channel like pattern, break of the lower trend line may signal sharp fall. So, better place TSL for longs or book partial profit in the longs imitated at lower levels.

Views expressed in daily charts are for intermediate term(60 days) and in daily chart is for short term (20 days).

nd week of April 2009 will start from 6th April 2009 and will end on 9th April 2009.

Planetary position during Second week of April 2009
Sun, Mercury, Retrograde Venus will transit in Pisces.
Moon will transit in Leo and Virgo.
Mars will transit in Aquarius.
Jupiter and Rahu will transit in Capricorn.
Retrograde Saturn will transit in Leo.
Ketu will transit in Cancer.

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Stock Market Prediction for 6th April 2009

Transiting Moon will be passing through Leo sign. Transiting Moon will be in applying aspect with Transiting Saturn, indicates Indian Stock Market BSE Sensex and NSE Nifty may open Up or nearer to previous closing. Market may steady or up side after 11.30am. Market will get volume after 14.40.




Stock Market Prediction for 7th April 2009
National Stock Exchange and Bombay Stock exchanges will remain closed On 7th April 2009, Tuesday due to National Holiday Shree Mahavir Jayanti 2009.

Stock Market Prediction for 8th April 2009
Transiting Moon will be passing through Virgo sign. Transiting Moon will be in applying aspect with Transiting Venus. Volatility would be seen in Gold and Crude. Some selling pressure will be there up to 10.30 but Market may steady or up side between 11.07 and 11.55. Indian Stock Market BSE Sensex and NSE Nifty will be volatile so be careful.





Stock Market Prediction for 9th April 2009

Transiting Moon will be passing through Virgo sign. Transiting Moon will be in applying aspect with Transiting Venus. Some selling pressure will be there after 14.00, Indian Stock Market BSE Sensex and NSE Nifty will try to touch bottom surface, Market will be volatile so be careful.



Stock Market Prediction for 10th April 2009
National Stock Exchange and Bombay Stock exchanges will remain closed On 10th April 2009, Friday due to National Holiday Good Friday - Good Friday Easter 2009.

Technical Analysis
Nifty has created bullish pattern in last week, if Nifty will close above 3287 for two days, it may go up to 3306. Resistance Level for Nifty will be 3272, 3303, 3333 and 3417. Support Level for Nifty will be 3105, 3052, 2999 and 2916.

Resistance Level for Sensex will be 10389, 10551, 10943 and 11105. Support Level for Sensex will be 10159, 9971, 9809 and 9323.

Profit booking will be seen between 20th April 2009 and 24th April 2009, so we suggest the investor to book profit at every rise and exit.

(NOORESH)

Just a lil ramblings on Elliot Wave based on what i read a few years back and what i get from my interactions with other ellioticians.... Although i am not a keen follower of the waves but just an interpretation possible.the no of wave possibilities are always numerous :P and may not be effective with the whole gamut of stocks with different wave counts!

Can we say from the above that the triple A-B-C correction is over with a failure signal and faster retracement move showing bull impulse after a long time and we are in next B wave of opportunity which will see 38/50 % of 8k-21k ?? or C - 5 bottom is still away with some zig zag combos ....Aah i would stop here :P

I would still prefer my classic technical analysis and the simpler practical approach to decide for the short to medium term decisions then to swim in the waves :P .

Many of these counts/projections are based on my personal view which may be naive and short sighted but as usual some stuff to ponder on :P

ssHindustan Zinc. What a beautiful rally on this weekly chart

ss

ss

Here's the weekly chart showing a breakout which will face the resistance of a trendline drawn from the January 08 highs. The red circled area around 3400~ matches well with the target given by the inverse H&S pattern.

Hi Jayrang. Here's the chart for SBI. As you may be aware, the Bank Nifty has underperformed the Nifty since October 2008 - Nifty has gained 27% whereas Bank Nifty has gained only about 8.26% and SBI has gained about 9%. So you have your first clue on the weakness in this sector.

Okie, going ahead we see two major resistances upwards -one at 1200~ and one at 1380~ So there can be a little bit upside till we hit 1200 and the price behaviour there will tell us whether it's a breakout to the higher 1380 or not. Watch for any weakness around 1200 and then take your call.