Trading Calls: Indian Bank and Escorts

Indian Bank

Indian Bank has been trading in range of 198 on lower band and 236 on upper end.At current price the stock is on upper side of trading band.
Stochastic has been in overbought zone.
Volumes on lower end

Sell around 236-237 Range Tgt 233,231.6 and 228

Escorts

Escorts is moving in uptrend from low of 118 and has movd till 143 levels.

From past few trading sessions has stuck in trading range 144 on upside and 138.2 on downside.

Volumes are on higher side

Srochastic gave a BUY on EOD charts

Buy above 144 Tgt 147,150 and 152.4

Will Nifty Correct after 5 Days of Winning Streak?

Nifty Hourly Chart

Nifty Hourly charts are moving towards the Resistance of 5790 levels.We have seen a one sided rally from past 5 trading sessions.5 EMA and 20 SMA system on hourly has not shown any sign of reversal as of now.

Indicators can remain overbought and oversold for prolonged period of time.Please remember this concept.

As per the Hourly charts Stochastic has given a SELL and Nifty closing below 5 high EMA@5749 is exhasuting sign for BULLS. RSI is also showing negative divergence.



Nifty Daily Chart

On Daily Charts Nifty closed above 200 DMA almost after 2 months which is a welcoming sign for bulls and now the mantra should be buy at dips till 50 SMA@5500 is protected.

On Daily chart STOCHASTIC is on verge of generating a SELL

As shown on daily charts we started with formation of higer lows and than saw a one sided rally

Market always give move the side which give pain to traders in short term.

Please do not go long and short in Nifty blindly.Till sign of weakness are not seen try to play with trend ie on upside.

Sell below 5729 Tgt 5688,5664,5640

Buy above 5770 TGt 5820 and 5867

Techical Calls:BGR Energy and Delta Corp

BGR ENERGY

BGR on Hourly chart is trading in a channel and after touching the upper end of channel is now correcting and moved below 5 EMA.

Slow Stochastic has generated SELL. Once the cross over of 5 EMA and 20 SMA is completed @477 BGR becomes a SELL

Sell below 477 Tgt 471,463 and 455

IF upper trendline breached Stock could move as per below levels

Buy above 488 Tgt 495 and 505


Delta Corp

Hourly Chart

As seen from Hourly Chart Delta is approaching the cross over of 5 EMA and 20 SMA which will have bearish implication.

Slow Stochastic has generated SELL

On Daily charts stock has crossed over its 200 DMA with volume on Friday and corrected on monday but BULLS did not allowed it to close below 200 DMA.

Holding 200 DMA will give further strength to stock.

As per trendline stock is forming a formation of Higher lows and Upper end is capped @76.65

Only move above 76.65 will give furthur strength to stock.

Buy above 76.7 Tgt 78 and 79.4

Sell below 72.8 Tgt 71.6,70

Trading Calls:Sesa Goa and Axis Bank

Sesa Goa
Sesa Goa has been in downtrend and showing signs of reversal with a move above its trendline as shown in daily Chart.MACD has triggered a buy.

Buy above 279.65 Tgt 281.2,283.8 and 288

Axis Bank
Axis Bank has shown a move above 200 DMA with volumes last friday.This is big positive for the stock

Read the full story »

Nifty Technicals for 31 March Expiry Week

Trading is an art which requires Discipline and Control your emotions.I come across many people who wants a system which generates BUY and SELL call but my friends no system in this world can put human emotions and hence your MIND is best system.

Discipline and Self Control (Fear/Greed) are the best tools for a TRADER. 

I have shared 5EMA and 20 SMA system Just want to share the Result of the System

I have applied the 5EMA/20 SMA system on Hourly chart and Have a look at the result.
Whole move from low of 5400 to high of 5600 has been captured.

On Hourly Chart there are 2 gaps remaining 5500 and 5531 levels which should provide support in case of correction.
Hourly Indicators are overbought but this should not be used to Short market as Indicators can remain overbought and oversold for extended period of times.

Let the Trend weakens first than Nifty should be shorted.

Nifty broke out of 5600 range which was eluding it for months now it got broken with FII and DII buying.

Nifty Daily Chart

Nifty Daily Chart is on a Crucial juncture hovering around 200 DMA will the Bulls have power to move the Index over 200 DMA@5684.

Above 200 DMA BULLS exists and below 200 DMA Bears exists.

If nifty is unable to cross 200 DMA than the rally will be turned as suckers rally and we are heading to 5000 and 4700 levels.

Weekly Chart

On Weekly Chart Nifty is moving in a channel as shown above. If nifty is able to break this channel on upside for coming week we should move back to 5800-5900 range.

Nifty Resistance:5684,5764 and 5844

Nifty Support:5605,5548 and 5471
Nifty Options

On Options 5400 PE is a firm support and 5700 CE having highest OI will give rsistance.

Trade with Levels and Earn Profit.
Please DO not speculate on trend.Trade Price and Volume Action.

If anyone is interested in learning Technical Analysis Please contact me @09985711341 to know further details.

Technical Views on Patel Engineering and Kotak Bank

Patel Enginerring
Patel Engineering has seen a breakdown from high of rs 500 to low of 133 in matter of 1.5 years.Stock has been in news for all bad reasons and corporate governace issues. Price factors everything.
Now Long term Bottoms are made in times of bad news and same apply to Patel. As seen from the chart below stock is forming a base trading in Rectangle

Buy above 144 Tgt

Read the full story » 

Nifty Technicals for Week starting 21 March

Nifty Hourly Chart

Nifty Hourly chart is moving in a channel forming Lower Highs and Lower lows as seen in the chart.
Stochastic is in Oversold zone which indicates we can have a bounce for time being which should be sold.

Indicators can remain overbought and oversold for an extended period of time.

Support of Trendline comes @5320 which should hold for market to bounce. 

Nifty Daily

 

 Nifty Positional trading system has generated a SELL once again last friday with a crossover of 5 EMA with 20 SMA on daily charts.

Positional Shorts takes @5455 should be held now with a trailing sl of Crossover of 20 SMA on closing basis.

Importance of 5320-5340 is also indicated in above Daily Chart of Nifty as it can be seen as a formation of Lower high if its held next week.

But following observation needs to be noted down:

1.  MACD has triggered a SELL 
2. RSI is above 50 not in oversold zone.
3. Nifty Closed below 5 Day LOW EMA@5413
4. Whenever Nifty cloeses below 5 Day Low EMA  more downside will emerge.

Nifty Weekly Chart

On Weekly chart 5 EMA low@5361 is last hope for BULLS if it gets broken more Blood will be there on streets.

Weekly Pivot:5472

Weekly Support:5381 and 5317

Weekly Resistance:5536 and 5627

Nifty OI Chart (http://bramesh-niftyoi.blogspot.com/)

As per Options Open Intrest Picture 5500 CE is having Highest OI @9,497,700 and 5300 PE is having Higest OI@8,290,700 with OI addition.

Nifty monthly low @5366 made on last friday and Range for March month is expanding.

Looking for Global news

1. China increasing reserve ratio to 50 BPS will have negative impact.
2. Japan nuclear radiation and contamination of food and water also have negative impact.
3. Dow can end its bull run.
4. Intervention of West in Libya and Gafaddi breaking ceasefire.
5. Middel east crisis
6. Political uncertanity at HOME.

Happy Holi to all Blog Readers

Happy Holi to you and Your Family.....

Nifty and Bank Nifty view on RBI Policy

Bank Nifty Hourly Chart

BankNifty Hourly chart has been on a roar before the Key RBI policy today@11:45 AM.

As the famoum adage goes Buy on Rumour and SEll of news.

Will today be that kind of day??

Stochastic has given a SELL on bank Nifty in hourly chart

As seen from the Chart we are seeing a W formation of which if 11001 is taken out will give a breakout to bank nifty for a tgt of 11292 levels

IF 11001 is not broken out just sell bank nifty tgt 10822 10 687 and 10591

Nifty Hourly Chart

Nifty hourly chart shows a gap unfilled between 5467 and 5475 this can be filled today with gap down opening.

Support @ 5492 (5EMA) and 5480( Daily Pivot) 5470 (Weekly Pivot ) 5448

Exit longs if it trades below 5437

Resistance @ 5507,5539,5567 and 5608

Technical Views on OBC and Tata Steel

Tata Steel

As seen from Tata Steel daily chart 575 is the laxman rekha for bulls.Bulls are able to define this level for 3 times as seen from below chart.

On the upper side we are having resistance at 5 Day High EMA@606.1.



Hourly Chart

As seen from hourly charts Keep a SL of 607.1 and go short in tata steel with a Tgt of 575
Slow Stochastic has also triggred a SELL

Sell with SL 607.1 Tgt 594.8 590.1 583 and 575


Oriental Bank of Commerce

Trendline Resistance@370
Buy break of 370 Tgt 374.4 and 379

Trrading calls:Punj Lloyd and Mercator Lines Limited

Punj Lloyd 

Punj has been mauled by bears out of shape and Legend Investor also exciting its stake in the company well i will not be the right person to comment on fundamental  of Punj  but technically speaking its looks ripe for a bounce. 

As shown in above Hourly chart Trend line Resistance@63.75 and Support @61.85 on hourly charts. 

Move above 63.75 should be used to intiate longs with tgt of 64.3 and 64.7 

Close above 64.3 will be considered Bullish for the Stock in near term and can rally till 20 SMA@67.8

Buy above 63.75 Tgt 64.3,65,66 and 67.8

Mercator Lines Limited

As Baltic Dry Index is hitting new highs MLL can see a good run up in coming few sessions as stock is forming higher bottoms on hourly charts but failed to cross the high of recent 39.65

Stock should start moving up once it crosses 39.65

Buy above 39 Tgt 39.65 40.3 and 41.5

Nifty Technicals for week starting 14 March

JAPAN....

We are deeply saddened by the loss of so many lives and property as a result of the earthquake.We offer prayers for those who have lost their lives in this tragedy and condolences to their families.

Nifty Hourly Chart

Nifty Hourly chart is trading in Channel as pointed in below chart with Support at 5400 Levels and Resistance @5459 on Hourly charts.

STOC is near oversold region and only a move above 5459 makes it buy in Hourly charts.

Nifty Daily Charts

On Daily charts we see significane of Support of 5400 as market has been saving this from 4 times of not breaking 5400 and nifty is getting support at it and resistance @5522 which is laxam rekha for bulls.


Also 50 DMA @ 5599 has crossed 200 DMA@5668 on downside which is a bearish indication.

RSI@50 if it moves above it Bulls will take control and below 50 bears will have upperhand.

Weekly Chart

On Weekly chart 50WSMA is proving a tough resistance to cross as shown in chart. Till the range of 5400-5600 does not break except choppy moves in market.

Nifty Pivot: 5472

Weekly Resistance:5536 and 5627

Weekly Support:5381 and 5317


Nifty OI 

OPen Intrest Chart shows 5400 PE OI @ 9,553,950 which should be support in near future and

5500 CE@6,258,150

which should act as resistance in near future.

Interesting week ahead... as Most of market participants are having short bias depening on middle east concerns and Japan Earthquake,European debt concerns.

Well market always cause pain for the majority of traders hence i feel we can see a quick upmove in coming week till 5600 (wishful thinking)

Nifty Technicals and Punj Lloyd

Hi All Readers,
 
http://www.brameshtechanalysis.com/  is having some technical difficulties and i am trying hard to get them resolved. Till the issues gets resolved i will use the Blog to write my posts.  I am sorry for the inconviences caused to you. 

Nifty Hourly Chart

Nifty hourly charts is showing support at today's low of 5467 which if broken we can easily slide to 20 DMA@5445 levels.

If 5445 is not sustained than we should get ready for a fall till 5409 if thats take out we can see an impulsive slide till 5200 levels. 

On upside we face resistance @ 5516,5531 and 5555. If 5555 gets crossed than we can see retest of 5608 and 5640 200 DMA

All mentioned levels are Nifty Spot levels.


Punj Lloyd

 

Punj is moving with a rising trend lines on hourly charts with a resistance at 65 levels.Once  it move above it next resistance @ 67

On Daily charts Punj is forming higher highs and higher low formation with rising volume which is a bullish indication

Buy@65 TGt

65.55

66

67.4

68.23

Bramesh
09985711341

Technical Calls:Bhusan Steel and BHEL

BHEL

BHEL is trading in a parallel channel on daily charts  with trading range between 2141 and 1961.As of now it is is middle of current trading range.
IF we have a look at hourly charts as shown below it is showing a contracting triangle formation which can breakout on upside as Stochastic  is oversold and RSI is about to go in oversold region on hourly.

Buy above 2037 Tgt 

Read Story with Charts

 

Nifty Weekly Technical for 07 March

Nifty Hourly

Nifty Hourly chart saw some cool off from the overbought conditions and took support at middle of Bollinger band and vertical trendline which is shown on chart.
If Nifty moves below 5524 which breaks both Bolliger Band Middle line and vertical trendline we can see 5480 levels.

Nifty Daily

Nifty daily chart is showing some intresting set up with 50 DMA@5651 and 200 DMA@5654 touching each other.
2 Scenarios are possible
BULLISH
IF 50 DMA is above 200 DMA than bulls can have a party time and 200-300 points in Nifty can come in 1 Weeks time frame
BEARISH
If 50 DMA crosses 200 DMA on downside than we may see a touch of 5177  and can move lower till..

Read More with Charts
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Technical Calls:Jet Airways and Punj Lloyd

Jet Airways

Hourly Chart of Jet Airways is presented below. I have applied Andrew pitchfork in Jet chart.
Jet is facing resistance of trendline @454 and once crossed technically we should touch the middle of Andrew Pitchfork line.

If we see the Daily chart of Jet

• STOC giving buy Buy
• Volumes on Higher side
• crude below 100$ can give some relief to stock and give a relief rally.

Buy above 454 TGt

Read the Full Post With Charts

When to Exit Trading Position?

Money management is one of the most important aspects of trading.Many traders enter into trade without having any exit strategy which is the cause of many profitable trades going into loss.As once the Stock goes your way means the stock price is increased after your entry than you need to have levels where to exit but most of traders greed factor comes in and they want to price to increase more and more. Let me give you an example to illustrated the scenario
Mohan buys 6000 CE of Nifty Dec series at 48

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