Planetary position during Last week of June 2009
Sun will transit from Gemini.
Mercury will transit from Taurus.
Venus will transit from Aries.
Moon will transit from Taurus, Gemini, Cancer and Leo.
Mars will transit from Aries.
Rahu will transit from Capricorn.
Retrograde Jupiter will transit from Aquarius.
Saturn will transit in Leo.
Ketu will transit in Cancer.
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Stock Market Prediction for 22nd June 2009
Transiting Moon will be passing through Taurus Zodiac sign. Moon void of course on Monday opening of the Stock Markets, indicates Volatility will be seen in Indian Stock Market up to 11.05. Market may try to recover or business in green signal. Some profit booking will be there after 14.30, so be careful.
Stock Market Prediction for 23rd June 2009
Transiting Moon will be passing through Gemini Zodiac sign. Transiting Moon will be in applying aspect with Transiting Mercury, indicates Market may slide from opening up to 12.00, so be careful. However, it may recover after 13.00. Market may under selling pressure and volatile, so be careful.
Stock Market Prediction for 24th June 2009
Transiting Moon will be passing through Gemini Zodiac sign. Moon void of course on Wednesday opening of the Stock Markets, indicates Volatility will be seen in Indian Stock Market up to 10.20. Market may steady or up side between 10.22 and 11.15. Market may go down from Intraday high after 13.10, so be careful.
Stock Market Prediction for 25th June 2009
Transiting Moon will be passing through Cancer Zodiac sign. Transiting Moon will be in applying aspect with Transiting Saturn, indicates Market movement would not be clear. Extreme Volatility will be there up to 13.55. Aviod Intraday trading. Hope it will not be BLACK Thursday.
Stock Market Prediction for 26th June 2009
Transiting Moon will be passing through Cancer Zodiac sign. Moon void of course on Friday opening of the Stock Markets, indicates Volatility will be seen in Indian Stock Market up to 12.00. FII buying may come and Market may recover between13.11 and 14.30. Again Some selling pressure will come in Indian Stock Market after 14.55, be careful.
During Last week of June 2009, Moon void of course on Monday, Wednesday and Friday, so Investor are advised to do business with a strict STOP LOSS. As per Vedic Astrology, July 2009 would be good for Market, so you can make position and sell your stocks during July 2009, it would be profitable.
BOUNCE BACK
The Doji appeared on 19/06/2009 Friday on the weekly charts, indicates bounce back during last week of June 2009. During third week of June 2009, The High Court judgment was the key development that triggered a correction in the market heavy weight and with it the markets. The Sensex and the Nifty corrected by 4.70% and 5.89% respectively.
Technical Analysis
Resistance Level for Nifty will be 4326, 4352, 4375, 4447, 4584 and 4601. Support Level for Nifty will be 4270, 4251, 4159, 3849, 3460 and 3445.
Resistance Level for Sensex will be 14630, 14682, 14978, 14996, 15195 and 15261. Support Level for Sensex will be 14257, 14322, 13829, 12954, 11387, 11255.
HARRISON MALAY REARING TO GO
This stock is very interesting from technical analysis view for following reasons
- It has made an inverse Head & Shoulder pattern indicating its bullish intentions.
- It attempted to breakout with huge volumes from a med term falling resistance line, But unfortunately it attempted on a day when the sensex tanked nearly 500 pts. and it had to retrace in line with the broader market.
- It has made several attempts to breakout of the highest close of last 20 sessions.
It should breakout sometime this week and head for 95-100 in short term. The level to enter the stock is above 83 with a stop of 74. Though the stock is headed much higher in medium term.
Sensex Technical View :- > This is in continuation of the previous chart which i had posted about the momentum line and ever since 8k-10k and this trend line has not been broken. So simply put the medium term trend remains up as of now.
- > Its been observed in the last few months that after hitting the momentum line the index has crossed the recent highs and also with a sharper move.
- > So we need to see how it pans out from 13800-14200. The index can give a good pullback to 14900-15100 also but the most important thing to note is whether it is able to cross 15600 or not and continue with the pattern.
- > If it does then we may also head to 16050-16200. If it doesnt then one needs to be very cautious and skeptical in the short term.
- > There is more to discuss did quite a bit of it in the webinar on the above chart. Little tired on sunday for now so in simpler terms the view remains to keep a short term view and trade strict with discipline.
We had a 1 hr -1hr 15 mins simple webinar today.
Register yourself on www.wiziq.com and then click the link below to watch the recording.
Do send us your feedback about the same on analyseindia@gmail.com . This was a first trial run so needs lot of improvement.
Stocks to watchout for :
ITC
The stock was covered earlier at 185 and did give a small move to 200. Yet again the stock is well placed in a range. If the stock starts staying above it could ove the defensive upmove like HUL and Cipla ( both were covered some time back). Investors can add on dips with 180 stop. Traders look for a move beyond.
Bang..!! the trendline gives support and we saw a big recovery.
For intraday today, nifty shouldnt break 4270 levels, targets could be 4371-4391
Overall on closing basis, i will look at a target of 4392-4452 with a SL below 4270
Sensex Intraday Elliott Wave :: As per last Wolfe Wave chart if Sensex made an intra mediate top in last week, now its moving down with intra mediate impulse 1-2-3-4-5… 5th of 1st wave finish with Ending Diagonal pattern, and move up for 2nd impulse. Maximum target of this 2nd wave in between 14650 to 15150.. If 2nd impulse move with minor double a-b-c, 2nd of c already enter in target.. Maximum target of c in between 14525 to 14750.. Finally both target match in between 14650 to 14750...After compilation of 2nd impulse Sensex once again move down for 3rd impulse..
Crude Oil :: All you know we are predict bottom of crude Oil near $ 30 in our Feb weekly post .. Now Crude Oil treading in corrective up move.. May be finish corrective a-b-c of c near $ 73.4...Watch important level $ 69.3...Once Crude Oil close below $ 69.3, its give conformation of short term top.. Next downward minimum target near $ 58/59 in coming days..
SELL IBREALBELOW183.50 TGT 165>145 STOPLOSS 200.50
BUY BANK OF BARODA ABOVE 435.60TGT444>451 STOPLOSS427.50
BUY BANK OF INDIA 339 TGT347>355 STOPLOSS333
Last week we had mention any major rally correct before next move still we had seen just 20 % retracement and 23%-4151 level 38%around 3850 and 50%is 3592 zones as shown in above chart .
The Indian market opened on higher note tracking positive cues but saw choppy session up and down close with handsome gains.On hourly chart we can see some bounces around 4371-4434 zone .On the downside 4240-4189 zone acts support zone breaking below 4189 more sell can seen .
Last week sensex lost 4.7% and nifty closed down 5.9% respectively. As last week we had mention about Rising wedge and long legged doji combination seen good reversal from upside and touch our nifty level which we had mention 4249-4189 zone .Nifty bounces from 4202 zone and close around 4313 levels .For coming session on daily we are forming Head and shoulder pattern that is another bearish and strong reversal pattern on top still we are in process of forming pattern as shown above chart .If current nifty goes around 4370-4456-4504 level and crack the neckline we can see lower target around 3865-3700 levels .Last week we had seen reliance industries had fill post election gap around 1976 levels .We expect same on nifty will come down around 4000-3795 level to fill gap zone sooner or later .
Now, let us take a look at the Nifty hourly chart:
In case of Nifty, it actually closed Friday on a good resistance as can be seen from the chart.
However, not discounting the probability of a break higher, If Nifty was to test higher levels, then 4450 seems to be the best possible resistance to me - considering that it was a decent support on the way down and it is a 50% retracement higher. Any substantial break above that and I'll be worried about the down move. In case we go straight down from here and do not test any higher levels before making fresh lows (this is the crucial bit) - then downward targets for Nifty could be in range of 3850 - 3900.
" Trading was even more teachable than I imagined, In a strange sort of way, it was almost humbling." Richard Dennis, Wall Street Journal.
NIFTY : (4313.60) Today Nifty face resistance at 4365, if cross 4365 then goes up to 4405.Nifty find support at 4280, if 4280 break then fall up to 4238 and 4162.
AXIS BANK : (756.15)
Buy Above 757 target 1-773, target 2-788, stop loss 741
Sell Below 741 target 1-720, target 2-706, stop loss 757
ICICI BANK : (714.05)
Sell Below 705 target 1-689, target 2-659, stop loss 727
SIEMENS : (469.35)
Sell Below 464 target 1-454, target 2-439, stop loss 472
STERLITE : (606.45)
Sell Below 603 target 1-585, target 2-562, stop loss 612
JSW STEEL : (604.50)
Buy Above 605 target 1-622, target 2-640, stop loss 590
Sell Below 590 target 1-572, target 2-543, stop loss 605
TATA STEEL : (412.55)
Sell Below 405 target 1-398, target 2-379, stop loss 416
REL CAPITAL : (919.15)
Sell Below 900 target 1-875, target 2-822, stop loss 922
RPOWER : (175.85)
Sell Below 174 target 1-169, target 2-152, stop loss 183
UNITECH : (80.25)
Sell Below 78 target 1-75, target 2-69, stop loss 84
Last friday market open huge downside and recovery some time. But second off after 01.00 pm market will heavy fall upto 4202 levels. Andalso market will recovery from day low at 2.50 pm market will bounce back postive trend for 60 points plus in market's. nifty will close 4320 level's this is most and good support level. Coming monday we expect in market postive trend it will go further uptrend upto 4420 levels. This nifty 4420 level will cross again market bullish upto 4720 to 4920 levels. But nifty will again come downside for 4250 to 4150 levels only. this levels for good support levels in market's. Market every decline level plz buy valuable stocts.
R-4282/4358/4401.
S-4239/4163/4120.
Nifty Fut
R-4289/4376/4426.
S-4239/4152/4102.
Sensex
R-14420/14661/14800.
S-14281/14040/13901.
Yesteray our buy call Sl trigged and first target achived. And Sell call three target's achived. Today Nifty buy abv 4290 SL 4260 tgt 4320,4340,4360,4385 and 4420 levels. Nifty sell below 4260 Sl 4290 tgt 4240,4230,4220,4180,4150 and 4120 levels.
Nifty made a 52 week high of 4693.20 on 12 June 2009. The 14 day ATR is 140.82. Subtracting the 3 times the ATR from High Point would be 4270.74. Nifty breached this level on 18 June 2009, when it made a Low of 4222.15. This represents short term reversal
Nifty made the lowest low of the present Swing on Friday, 19 June 2009, when it touched 4206.70. The range from HIP to LOP would be 486.50 or the range from 4693.20 to 4206.70 is 486.50. The 61.8% of 486.50 added to LOP would be 4507.35. Below this point Nifty is weak. The 23.6% of 486.50 added to LOP would be 4321.50. Below this point Nifty would continue to be bearish. And if continued to close below this number i.e., 4321.50 It would target the 127% of 486.50 subtracted from the HIP, i.e., 4075.35.
Nifty Daily Chart (2)
Nifty Weekly Chart
Nifty Half Hourly Chart
Intra Day Trend
The short term trend is down but seems to have found support at 4207 for the time being. A pullback was attempted in the last hour of trading, after positive divergences appeared on half hourly charts. It was stalled after hitting resistance at the 23.6% retracement level of fall from 4693 to 4207. Positive divergences are intact , so we can expect the rise to continue towards the other fibonacci retracememnt levels , which are marked on the chart.
Daily Trend
The Daily trend is in neutral zone. The daily momentum indicators are mixed. RSI 14 slipped below the 50 mark but has moved up again, macd is in a sell but above zero line and the stochastic is in oversold zone .Except for the 5 dema all other moving averages are bullishly aligned. Unless we have more evidence we cannot pronounce this fall as a reversal.
In chart one I have marked the consolidation after each rise . The percentage fall has been increasing and this time it has already corrected 81%.
Weekly Trend
Last week we had the ominous long legged doji warning us that the trend may see a change. Nifty confirmed this with a huge black candle engulfing the doji's real body . This candle completes the evening star pattern which is a bearish reversal pattern. This conveys that the bearishness may continue .The oscillators have turned down.The RSI14 has given a sell and gone below the 70 level. The stochastic and macd are yet to give a sell but has waned a bit.
However the Golden cross of 20,50 & 200wema is intact indicating that this fall may just be a correction. The trendline joining bottoms from 2539 has not been violated yet on these charts.We will have to be watchful of the quality of pullbacks to ascertain future movements --- whether it is with good volumes, good breadth, increase in open interest , follow up buying.
Above is a 5 minute chart of yesterday's price action. The day started off with a slow grind up to 43+ region. And then came a sudden 100+ point down move taking the Futures down to 4202. By this time a positive divergence was developing on the 60 minute chart (see below). Thanks to this divergence, the Futures shot up like mad and made another 100+ point move all the way back upto 43++!
Nifty made the lowest low of the present Swing on Friday, 19 June 2009, when it touched 4206.70. The range from HIP to LOP would be 486.50 or the range from 4693.20 to 4206.70 is 486.50. The 61.8% of 486.50 added to LOP would be 4507.35. Below this point Nifty is weak. The 23.6% of 486.50 added to LOP would be 4321.50. Below this point Nifty would continue to be bearish. And if continued to close below this number i.e., 4321.50 It would target the 127% of 486.50 subtracted from the HIP, i.e., 4075.35.
Nifty Daily Chart (1)
Nifty Daily Chart (2)
Nifty Weekly Chart
Nifty Half Hourly Chart
The short term trend is down but seems to have found support at 4207 for the time being. A pullback was attempted in the last hour of trading, after positive divergences appeared on half hourly charts. It was stalled after hitting resistance at the 23.6% retracement level of fall from 4693 to 4207. Positive divergences are intact , so we can expect the rise to continue towards the other fibonacci retracememnt levels , which are marked on the chart.
Daily Trend
The Daily trend is in neutral zone. The daily momentum indicators are mixed. RSI 14 slipped below the 50 mark but has moved up again, macd is in a sell but above zero line and the stochastic is in oversold zone .Except for the 5 dema all other moving averages are bullishly aligned. Unless we have more evidence we cannot pronounce this fall as a reversal.
In chart one I have marked the consolidation after each rise . The percentage fall has been increasing and this time it has already corrected 81%.
Weekly Trend
Last week we had the ominous long legged doji warning us that the trend may see a change. Nifty confirmed this with a huge black candle engulfing the doji's real body . This candle completes the evening star pattern which is a bearish reversal pattern. This conveys that the bearishness may continue .The oscillators have turned down.The RSI14 has given a sell and gone below the 70 level. The stochastic and macd are yet to give a sell but has waned a bit.
However the Golden cross of 20,50 & 200wema is intact indicating that this fall may just be a correction. The trendline joining bottoms from 2539 has not been violated yet on these charts.We will have to be watchful of the quality of pullbacks to ascertain future movements --- whether it is with good volumes, good breadth, increase in open interest , follow up buying.
Above is a 5 minute chart of yesterday's price action. The day started off with a slow grind up to 43+ region. And then came a sudden 100+ point down move taking the Futures down to 4202. By this time a positive divergence was developing on the 60 minute chart (see below). Thanks to this divergence, the Futures shot up like mad and made another 100+ point move all the way back upto 43++!Obviously, people who were short from 47 have covered their shorts around 42. Look at the volume for the last 30 minutes on the 5 minute chart. Volume is falling for the last few bars! and that's what makes me think that the fall is not over yet.
NIFTY CAN MOVE UP TILL 4445.CROSS OVER CAN BE CONSIDERED GOOD FOR THE MARKETS WHICH CAN TAKE THE NIFTY TILL 4525 AND THERE AFTER ATTEMPT FOR A NEW HIGH WITH THE OUTCOME OF THE BUDGET.STRICT STOP LOSS SHOULD BE KEPT AT 4190-4150 FOR THE NIFTY.
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