Technical Calls on ICICI BANK and REL INFRA

Relinace Infra
Rel Infra is showing a breakout in Hourly charts with positive divergence in RSI and trendline breakout

Buy above 732 Tgt 737,746 and 762 Sl 720

ICICI Bank

Double Bottom Formation with positive Divergence in RSI
Buy above 1018 Tgt

Read the full story »

Nifty mauled by bears Will BUlls comes for rescue?

Nifty Daily Chart

Nifty Daily chart post a grim picture we have broken 200 DAM and sustained below it for 2 days.Medium trend charts shows break in trendline from the rally started at 5460 levels to 6100.
RSI is oversold and MACD is also giving bearish signal.Whole street is bearish and looking at the way dow closed and Riots in Arabian countries which can effect the geo-political set up can add more fuel to fire and we can see more blood on street in coming week.
Till 5460 is protected rally can move …
Read the full story »

Volatility and Why VIX Signals Work

What is the VIX?
The VIX is a measurement of the implied volatility of the at the money Index Options.
The VIX Measures FEAR
High VIX readings mean that fear is also high, whereas low VIX readings mean that fear is low. Backtesting various VIX reversal signals has proven that the VIX can be used to predict market direction about 60 to 70% of the time, the more VIX signals the better. What this means is that when the VIX  is at an extreme (meaning everyone thinks the market will continue in …
Read the full story »

Nifty Breaks 200 DMA

Nifty Hourly Chart
Nifty Hourly chart are in oversold zone and a fierce bounce can come which can take indices back to 5709 levels which is middle bollinger band.
On hourly chart RSI and STOC are in oversold region.
If we continue fall we can see levels of 5500 on cards where we can see some value buying as stocks
Nifty Daily Chart
Nifty broke 200 DMA FIRST TIME 26 mAY 2010.Moved below it for few trading sessions and than gave a fierce bounce.
As 200 DMA is a important level need to see the price …
Read the full story »

Nifty 21 EMA Intra Day Trading System

Nifty Intra Day Trading System
I present the Nifty Intra day trading system which is profitable and having good success ratio on trending day like today.
As you can see in Intra Chart we have just 21 EMA on a 5 Mins Chart@http://niftyrtcharts.blogspot.com/
How it Works:
Wait for first 15 Mins of trade to find the ORB(Opening Range Breakout/Breakdown) Value
Once we get the ORB value we need to see whether Nifty is moving above 21 EMA or Below it
Once Nifty Starts trading below 21 EMA as of today initiate Short positions.
Hold Your Short Positions …
Read the full story »

Breakout Trades:Rajesh Export,Orbit and KSK Energy

Rajesh Exports

Buy above 143 Tgt 146.5 and 153

Orbit Corporation

Read the full story »

Nifty Weekly View for 24 Jan 2011

Nifty Daily Chart

After 2 Weeks Nifty was able to show some green tick on weekly charts after a roller coaster trading with a gain of meagre 0.74%.
As seen in Daily chart Nifty in short term is trading in lower down trending channel while long term trendline is still intanct on Daily chart which will get breached around 5200 (wishful thinking).

For next week will prove to be interesting as we have Expiry for January series and RBI rate hike decision on 25 th January and 26 …
Read the full story »

Nifty Technical View for Jan 21

Nifty Hourly Chart

Nifty Hourly chart is showing a trading range of 5630 – 5750 levels
As shown in chart break on either side of range will give a breakout and some quick points can be minted.

Buy above 5750 Tgt .....


Nifty Daily Chart

Trading range of 5630 and 5740 with positive divergence in RSI
wait for break the range or sell at swing high  5750 and buy at swing low 5630
Read the full story »

Sesa Goa and Strides Acrolab View

Strides Acrolab

Strides Acrolab taking support at 200 DMA as shown in chart with higher bottom formation and facing resistance at upper trendline as shown in chart again

BUy above 413 Tgt 417 423 and 429

Sesa Goa

Sesa Goa was able to close above its 100 DMA ob closing basis but volumes were on lower end which has raised question on the rally which is going on for this counter.
Negative divergence is visible on RSI

Buy above 333 Tgt 338 and 343

Sell Below 325 Tgt 

 

Read the full story »

Technical Views on RIL,ICICI Bank and Petronet

Petronet LNG
Petronet is forming a triple top with MACD giving a positive crossover

Buy above 131.7 tgt  133.5,136 sl 127

ICICI BANK

ICICI Bank is trading near its 200 DMA and in channel as shown in chart

Buy above 1024 tgt 1035 and 1047

Reliance Industries

Reliance is forming a symmetrical triangle on daily chart and if the holds the low of 980 and reverse back than we can see a rally till 1100 in RIL before expiry.

Buy above 980 Tgt 997,10051015 and 1023 Sl 970
Read the full story »

Nifty Knocking the Doors of Bear Market

Nifty Weekly Chart

Nifty Weekly Chart shows the breach of the bullish channel we were trading in from past 1-1.5 years and it has been breached for some 2 times before but after a quick whipsaw was back in channel again.Will it be 3 time lucky?

VIX Chart
VIX the fear factor is on its upper trendline again and it is in not able to breach this @24.3 than it will reverse and the Stock market will go up.Stock Market and VIX have inverse relationship,means when VIX goes up market will …
Read the full story »

Trade with Pivot Points

By definition, a pivot point is a point of rotation. The prices used to calculate the pivot point are the previous period’s high, low and closing prices for a security. These prices are usually taken from a stock’s daily charts, but the pivot point can also be calculated using information from hourly charts. Most traders prefer to take the pivots, as well as the support and resistance levels, off of the daily charts and then apply those to the intraday charts (for example, hourly, every 30 minutes or every 15 …
Read the full story »

Nifty Pullback Started

And it happened again When all Street was short and the surprise rally in spite of a pathetic IIP number which came in middle of afternoon.
Let see technically what happened:
Market was crashing like a pack of cards from past 6 days.
FII sold just 3000 cores and people got fearful on the way down.
Market always move in direction which cause maximum trouble to a short term trader.
Nifty made a triple bottom at 5700 level  as shown in chart and showed a pull back from the lows and  rallied till 5865. Tomorrow …
Read the full story »

Nifty under Bear Attack ?

After the recent fall, a majority are veering towards the bearish side. But, it is often observed that the market seldom does what the majority wants it to do. Looking at Nifty Weekly Charts we can see a Break of long term trendline.
Can it be a whipsaw or it serious breach of Bull Market,we will come to know in next few days.
As of now Bluechips like SBI,ICICI are heavily oversold. Metals are trading at all time high but Hindalco,Tata Steel are correcting and all are oversold on hourly …
Read the full story »

SBI and Infosys Technical View

Infosys Technology

Infosys will be declaring its result on 13 Jan and Stock looks precariously poised looked technically as its near 20 EMA.Stock saw a steep fall on Friday trading sessions.
If Stock breaks Friday’s low 3356 breaks Stock becomes a clear sell
Sell below 3356 TGt 3319 and 3268

State Bank of India

SBIN has corrected 25% from the highs of 2500 to low of 2600 .Rate Sensitive is correcting are taking a knock on rising inflation and fear of rate hikes.
SBI was in bull market and is now touching its 200 DMA. …
Read the full story »

Nifty Weekly Technical Levels for Week 7 Jan 2011

Nifty Daily Charts
Nifty is on a falling spree from last 3 days of the week with Friday being a huge fall of 2.5% in a day.Banks and Rate Sensitives sector are leading the fall as fear of Higher Inflation will prompt RBI to raise Interest rates in coming policy meet at 25 Jan.
Technically Speaking Nifty can see 2 possiblity in coming week.
1. Bullish Stance
As seen in above daily Chart Nifty can stop it falls around 5810 Levels forming a Higher Bottom and move towards it new high.
2. Bearish Instance …
Read the full story »

How to trade using Trend Lines in Stocks Charts

TREND LINES
Technical analysis is built on the assumption that prices trend. Trend lines are an important tool in technical analysis for both trend identification and confirmation. A trend line is a straight line that connects two or more price points and then extends into the future to act as a line of support or resistance. A proper trend line has to connect two or more peaks or troughs; otherwise, it will be drawn
in space and will have no significance.
UP TREND LINE
An uptrend line has a positive slope and is formed …
Read the full story »

Nifty @50 SMA

Nifty Sold of for 4 day in a row for high of 6180 to low of 6020 which is 50 DMA.  50 DMA has a significant support for nifty and yesterday it bounced after touching the 50 DMA.
On Hourly Charts we are oversold and a bounce should come either today or monday.
Banks are weighing heavily on Nifty,Bank Nifty  has corrected almost 7% in past 3 trading sessions.If Nifty were to bounce bank nifty support should be present.
SBI closed below 200 DMA of 2650 which is a bearish indicator but we …
Read the full story »

Technical Views on Bank Nifty and SBI

State Bank Of India
SBI has been falling from past 2 trading sessions with other banks and on city group 400 cores scam and banking sector as a whole is beaten down.
SBI has been trading in the range 2655- 2850 and now is in lower end of the range and we are seeing positive divergence on RSI.
Trade can be taken in SBI looking at trade set up and risk reward is turning up.

Buy above 2703 Tgt 2725,2758 and 2780 SL 2682

Bank Nifty
Bank Nifty has retraced sharply in past 2 trading …
Read the full story »

Breakout Trades:SCI

Shipping Corporation of India

SCI broke away the upper trend line with volumes after long dull period. Stock looks a good buy for short term.
MACD giving positive divergence
Buy above 135.6 tgt
Read the full story »

Technical view on Bank Nifty and JB Chemicals

JB CHEMICALS

Stock forming double top @148 levels and a rising trendline which is simliar to ascending triangle formation.
Break of 148 is necessary for higher tgts of 151 and 155
MACD is overbought zone
Sell below 141 tgt137 and 134
BANK NIFTY

Bank Nifty broke the trendline resistance and is now heading for acid test near 100 DMA @11915 and 50 DMA @ 12079
Both these levels needs to be crossed on closing basis for any further up move in bank nifty.
MACD is giving a buy on daily charts,closing above 100 and 50 dma is mandatory for …
Read the full story »

Nifty Weekly Technical Levels for Week 3 Jan 2011

Wishing All Readers a Happy and Prosperous New Year 2011.

Nifty Daily Chart

Nifty is highly overbought on Hourly Charts and a correction till 6060 can be seen in coming week as it is fibo levels from low of 5690 to high of 6147 we have witnessed in recent rally. Risk to Reward ratio is not in favor of entering new longs as of now.
MACD is coming in positive region and RSI is showing negative divergence on Daily chart as marked in above chart.
Traders holding Long position should keep a SL of …
Read the full story »