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NOORESH)

This seems like an advertisement of Before and After :)

SENSEX Aug 23 --- BEFORE

SENSEX 17 September - AFTER

As is very clearly visible from the charts that the index is making pattern similar to what happened in January last year.

And yet again technically we are getting into the danger box of 16500-17200 roughly. Although on higher end limit is placed at 17700-18000 ( highly uncomfortable if it goes there without a dip)

Technical Analysis is not a strict science and its not necessary all patterns would be replicated exactly. The rising wedge does remain in place and risk-reward increases above 16500. At the same time the correction can only get deeper when the index moves below the black trendline with big magnitude of price and volume.

Such a confirmation can come only later but as of now its plain simple ---- Better to be cautious in this box !!

MY CHART

Nifty :: Body gap up Black Hold line bullish candle.. As per bar rule its made and selling pressure bar..!! Its give first warning signal for up move.. Still we stuck with our Ending Diagonal bearish pattern.. Today we plot an larger degree Ending Diagonal pattern.. No other way to predict unfold wave cont in such kind of bullish scenario in corrective up move.. Minimum target (maximum target is still high but we neglect in this overbought situation) of Ending Diagonal 5th of c wave in between 4950 to 5150.. Its mean now Nifty enter in target zone, once again we repeat be careful at higher level.. Short term bullish structure is still intact as far as stay above 2-4 line or at least above 4873 and that’s why enjoy the ride for intraday at lower level only with strictly stop loss.. Our strategy at higher level near strong resistance zone 5006 to 5036 sell at high (S.L 5036) buy on deeps (S.L 4873) Resistance for up move at 4980/5006/5020/5036.. Supports at 4900/4890/4873..

 

The market did open flat to positive and It was a fantastic closing for the Indian market After a five-day consolidation our market moved higher assisted by good global cues.Market as expected could not break the low made in the morning itself and taken a good support from its immediate support zone of 4895 and remained above this level all the day and closed at near day high.Going forward we have closed above 4920 for the first time and now w may see the 5000 mark if global cues are not going to disturb this tempo.Nifty may take good support near 4900 and then 4845 and as long as we hold it, ride the rally with bulls.


It was another spectacular session today on Dalal Street. Positive global cues helped our market post the highest closing for Nifty, above 4950 for the first time since May 2008. Sensex shut shop at 16677, up 222 points and Nifty at 4958, up 66 points from the previous close. CNX Midcap index was up 1.43% and BSE Smallcap index was up 1.10%. The market breadth was positive with advances at 736 against declines of 517 on the NSE. Top Nifty gainers included Tata Steel, SAIL and Tata Motors while losers were GAIL, HUL and BPCL.






NIFTY (4958.4)
Resistance : 4975/4995/5025
Support : 4930 / 4905 / 4860 / 4820


SENSEX (16677.04)
Resistance : 16785 / 16900 / 17100
Support : 16565 / 16430


NIFTY FUT (4961.85)
Resistance : 4985 / 5005 / 5040
Support : 4920 / 4895






MKT COMMENTS
NIFTY FUT OI flat with 16% decreasing volumes indicating unwinding of long positions at higher levels.
We expect NIFTY FUT to trade rangebound with possibility of profit booking at higher levels.






On Thursday,Opening Is Flat To Positive,
Buy NIFTY Above 4950,Sl Below 4930,Tgt 4980/5010/5025/5050
Sell NIFTY Below 4930,Sl Above 4950,Tgt 4900/4870/4855/4830






BUY




JETAIR Above 270,Sl 265,Tgt 275/80+
BHARTI Above 425,Sl 420,Tgt 430/35
DIVISLABS Above 515,Sl 505,Tgt 530/40/50/55


GUJALKALI Above 115,Sl 110,Tgt 120/25
DRREDDY Above 830,Sl 810,Tgt 840/45/50
SBIN (2087),Sl Below 2065,Tgt 2110/20/30/40






FUTURES





Buy SUNTV Above 305/10,Sl 300,Tgt 315/20/25
Buy HDIL Above 325,Sl 320,Tgt 330/35/40/45/50




Sell CIPLA Below 265,Sl 268,Tgt 261/59/56/53/50/48/45+
 

 

GMR Infra Chart Daily:

GMR Infra has formed a Symmetric Triangle in Daily Charts posted earlier. But it didn't give any breakout or breakdown also it is nearing the apex. Now again it has formed small Symmetric Triangle in hourly charts. Below is the hourly chart marked with Symmetric Triangle.

GMR Infra Chart Hourly:

If GMR Infra gives breakout/breakdown with confirming volumes then it may give Rs.10. If it gives break out it may go much higher then the target, but if it gives breakdown there is a possible chance that the Triangle in daily charts may give support.

 

 FOR DATE 17-9-2009,
1.] SCRIP = GREAT OFFSHORE (BSE),
SCRIP CODE = 532786,
PREVIOUS CLOSE = 565 ,
STOP LOSS = 550,
TARGET = 669.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 16-9-2009,

WITH A CONSIDERABLE RISE IN VOLUMES, THIS STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN CONSOLIDATION SINCE AUGUST AND THE STOCK IS IN A STRONG UP TREND FROM MAY.
THE STOCHASTICS AND RSI HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT RULES INDICATE THIS COUNTER GOOD FOR SHORT TO MEDIUM TERM RANGE.
STRICTLY FOLLOW THE STOP LOSS.


2.] SCRIP = LIC HOUSING FINANCE (NSE),
SCRIP CODE = LICHSGFIN,
PREVIOUS CLOSE = 746.8,
STOP LOSS = 710,
TARGET = 969.
FOR INTRADAY MOVEMENT OF THE STOCKFILTER PLEASE Click Here!
(OR, CLICK THE LINK ABOVE LIVE SENSEX WATCH.)

CHART AS ON 16-9-2009

WITH A CONSIDERABLE RISE IN VOLUMES, THIS STOCK HAS GIVEN A FRESH BREAKOUT IN THE LAST TRADING SESSION. THE STOCK WAS IN CONSOLIDATION SINCE JULY AND THE STOCK IS IN A VERY STRONG UP TREND FROM MARCH, THIS STOCK IS AT ITS LIFE TIME HIGH LEVELS. THIS STOCK WAS ANALYSED AS A FILTERED STOCK ON 27-8-2009 ON THIS SITE.
TECHNICAL ANALYSIS TOOLS HAVE GIVEN A POSITIVE CROSSOVER.
TECHNICAL ANALYSIS AND PORTFOLIO MANAGEMENT RULES INDICATE THIS STOCK GOOD FOR A MEDIUM TO LONG TERM RANGE.
STRICTLY MAINTAIN AND FOLLOW THE STOP LOSS.