Nifty Technicals for Budget Day

Hi All,

http://www.brameshtechanalysis.com/ is having some technical issues,Hence it's down inconvenience regretted.I would be posting my views for coming week on Blog till than the Site should go up and running.

Nifty Hourly Chart

As seen from Hourly Chart 5340 is resistance for monday and a impulsive move above this could take Nifty back to 5400 Levels
RSI and STOCH are showing positive divergence which is quiet evident and we would looks for price move to confirm.

We should see a Huge round of volatility and my suggestion to all traders is Keep Booking profit coz in a fraction of Mins a profit making positions can turn to Loss.

On Friday Nifty gave 80 points move in 3 Mins just to give a sense of volatility which we will see.



Nifty Positional Buy/Sell System

Nifty Positional trading system gave a Buy which was stopped out at 5460 and now again sell was generated at 5428 levels which is going on in current downmove and we making more than 100 points.
Nifty Daily

 

Nifaty Daily is showing a support at trendline which we saw from high of 6188 and now if this trendline breaks we can see a retest of 5177 level and after that 5100-5000 levels will be seen

IF 5233 is protected on Monday than we should see 5417 levels which is middle of bollinger band and Monthly Low EMA also.

 Nifty Weekly Chart

 

Nifty Weekly Pivot:5354

Resistance:5476 and 5648

Support:5177 and 5067

Nifty Monthly Chart

Nifty Monthly 5 Low Ema is at 5417 and this level should be taken out if we need to be in BUllish scenario 

Will Pranab Da make this possible ??

Monday we will get the real picture

Technicals Call:IGL and ICICI Bank,Aurobindo Pharma

ICICI Bank

Formation of Bullish WW in ICICI Bank in this scenario of bloodshed on street.Food Inflation was up marginally and all banks were punished because of fear of rate hike.

 

Buy above 1000 TGt 

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Nifty Positional Trading System Generates BUY

Nifty Positional Trading System

As per Nifty Trading system which can be accessed by clicking on above link Nifty has generated Buy signal after Sell was generated @5998 levels.

5 EMA@ 5482
20 SMA@ 5464
MACD is in Buy mode
RSI above 50 which if hold nifty rallies

The same has been verified in charts,Hence We should intiate Longs with SL of 5460 on closing basis.
Targets should be 5600 and 5639(200 SMA) and above that we need to ride the wave with trailing SL.
Last Time System Generated SELL Call@5998 which went down till 5177

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Trading Calls:IDBI and CBI

Central Bank of India

CBI is taking support at its medium term trendline as shown in charts.
Weekly chart is forming Hammer and GraveStone Doji indicating downtrend is coming down

Buy above 159 tgt 162.6 and 165.5 and 170 SL 153


IDBI Bank
The stock stalled around its 200-DMA and 20-DMA, which is acting as a stiff resistance.
Inability for the stock to close above this trendline over several attempts suggest weakness.
If it is unable to hold on to Rs135 levels, it could retrace all the way to the levels of Rs125 and below.
Sell below Rs133 with stop …
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Nifty Technicals for 24 Feb Expiry Week

Nifty Hourly Chart

Next week is expiry and accept lots of volatility in Nifty.Nifty expired at 5604 in Jan contract and any close above it in next week will make things bad for bear camp because of simple reason Bears will start coming into loss and Bulls even if gave a liitle bit of support above 200 DMA@5635 Nifty will just move up on short covering.
Nifty Hourly chart at last showed some cooling off in indicators thanks to rumors floating around in market from morning.I have dram the treanlines in hourly …
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Why Traders loose money Trading Stock Options

90% of option traders lose money
Even people who are highly knowledgeable about the financial markets and work in the industry do poorly. There is evidence all over the place that losing money in options is normal and “everyone in the know knows it”.
I never got good at options trading, but I never encountered anyone else who was good at it, either. Some people admitted that they lost money overall, while others, although they spoke readily of their wins, were evasive about losses and totals. This was less surprising when I …
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Trading Calls:Central Bank,Patel Engineering

Central Bank of India

CBI is taking support at a rising trendline @156.65 and facing resistance @161.25 as shown on daily charts
RSI is rising and giving a buy signal and MACD is in Buy zone

Buy above 161.65 Tgt 163.4,116.9 Sl 160

Sell Below 159.5 Tgt 157.7 and 154.9

Patel Engg

Patel Engg looks ripe for a bounce after severe correction from high of 324 to sub 180 levels
MACD is a buy mode
Buy above 195.9 Tgt ..

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Technical Calls :BEML and SAIL

BEML
BEML has been in downtrend for 15 trading sessions in a row on back of some rumors by CAG on inflating there books which has no substantial evidence but was able to crash the stock for 30% in matter of 3 trading sessions.
Stock is trying to cover up its lost ground and was able to cover 1 red candel of 3 formed on daily charts but with declining volumes,on basis of short covering only.
On Technicals terms stock looks ripe for a bounce back as it is moving between 5 DHEMA@678.2 …
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Technical Calls :Rajesh Export,ICICI Bank and HCL Tech

Rajesh Export
Forming Triple top on daily charts @141.5 MACD also showing positive divergence.

Buy above 141.5 Tgt 144.2 and 146.96

ICICI Bank
ICICI BANK is forming lower top lower bottom formation  and saw good rally from lows of 950 to high of 1066 which coincidentally is
50 SMA@1062.RSI is also hitting upper boundary

Sell Below @ 1068 Tgt 1051,1036,1019 and 1004

HCL Technologies
HCL Technologies is forming trendline resistance @490 forming a resistance
Buy above 491.83
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Technicals on IOC and Allabhad bank

IOC(Indian Oil Corporation)
As Crude has come down in past 2 days coz of Egypt President handling the power and civil reset calm down in Egypt.IOC should be good beneficiary in crude cooling off.
IOC is trading in parallel  channel taking support at bottom trendline and now will head towards on upper trendline around 323
Buy above 316 Tgt 318,323 and 328 Sl 308
Allabhad Bank
Stock made a smar pullback on friday with a 5% gain backed by short covering on Banks Stocks.
Stocks is now moving in zone of Resistance
20 DMA has crossed 200 …
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Nifty Weekly Analysis for Week 14-18 Feb

15 Mins Chart

Nifty 15 Mins shows break of the 5270 in in 15 mins chart and market rallying to 5300 after touching a low of 5177. Rally was like it happened before Month when IIP data came bad and than nifty reacted in downside making a new low.Trapping shorters and than a rally.
Market always move in direction which causes pain to maximum people

Nifty Hourly Chart

Nifty hourly chart with trendline resistance is show joining to highs and now next high comes at 5370 which coincidentally is 10 DMA.
Closing above 5370 it …

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Why Traders Loose Money?

Over the years, I have seen several people (including myself) lose fortunes while trading stocks, and I’ve found that invariably, it would be for the same reasons. Such reasons appear mostly psychological and occur often in the trading scene.
It is a known fact 80% of traders lose money and 20% makes profits on the expense of 80% traders going well verse with
Pareto principle
So what exactly is the reasons behind that the misery of traders losing money.
Trade without plan: Most of traders enter the market based on there intuition. They just …
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Infosys and Larsen Technical Views

Infosys Technology
Infy moving in Range of 3040 and 3160 levels
Trade the range till we do not see a breakout on either side of range.

Buy near 3040 TGt 3069 3097 and 3140

Sell below 3026 Tgt 2996 and 2941

Larsen and Tubro
Larsen has seen a severe bear hammeringfrom high of 2000 to low of 1461 in a single shot.
We have seen a green candlestick patern after a long period of time.
5 EMA @ 1521.80 Stock is near its 5 EMA.
LArsen if able to close above 5 EMA than we can see some …
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Carnage on Dalal Street

Nifty Daily Chart
Nifty daily chart showing breakdown from September levels and breaking breakout level of 5300 levels. If nifty close below this level for another 2 days we are opening gate for 5000 levels.
The above chart was previous day chart when we broke the important support levels. What happened today is History again.
IF you look at NIfty today chart we were drifiting slowly but the carnage seen in mid caps and small caps was a diaster.Stock were falling like pack of cards and Infra stocks were hammered by bears as …
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Technical Calls:BEML and Allahabad Bank

Allahabad Bank
Base Formation is going on in Allahabad bank with resistance at middle level on BB.RSI is also showing positive divergence.
Buy above 205 Tgt 209,212 and 217 SL 196

BEML
Stock has been hammered from past 10 trading sessions,for reasons which i am unable to forsee.
BEML has a pattern …
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Trading Calls:Unitech,ICICI Bank and Raymonds

UNITECH

Value Buy for investor at such price from a perspective of 3-5 years.For traders its a liquid stock with good moves on upside and downside both.
For short term looking at technical indicators i have views on stock moving upside

Buy above 47.47 Tgt 48.52,50.5 and 52.4 Sl 46

ICICI BANK
ICICI bank today moved out of its formation of lower high and lower low in short term
Stock has formed base in range of 990-995 and started moving up. RSI ais showing good positive divergence with volumes and price conformation.
Buy above 1037 Tgt …
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Technical Call on Unitech and ACC

ACC
Double Bottom formation if broken can see a good fall

Sell below 966 Tgt 953 and 937

Unitech

Unitech has been thrashed by bears like company is going for bankruptcy.There are stories in market than stock is going for rs 10 levels. Unitech is india 2 largest realty developer.
The current fall is because of some pledging shares and rumors that Morgan Stanley will sell share in open market.
Unitech has clarified yesterday that they have paid half of money and remaining half will be paid by 22 Feb.
Below 50 it becomes a value pick …
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Technical Calls Bhusan Steel,Hindalco and IOC

Bhusan Steel
Bhusan Steel near its 200 DMA Hourly chart  shows a resistance at 401

Buy above 401 Tgt 407 and 418 SL 391

Hindalco Industries
Hourly Chart of Hindalco Industries with trend lines

Buy above 231 Tgt 235 and 239 Sl 226

Indian Oil Corp
Trendline Resistance at upside
Golden Crossover with cross of 5 EMA above 20 DMA
MACD Positive RSI in Buy zone
Buy above 341 Tgt
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