Trading Calls:ICICI Bank and Volatas

ICICI BANK

ICICI bank broke out of its falling wedge pattern which is a bullish pattern. Stock has been taking support around 994 levels and giving decent bounces.Stock is approaching another major resistance of 200 DMA @1084.
200 DMA is defining lines between Bulls and Bears
Move above 1084 will make the stock to enter is trading range of 1090-1130 where it consolidated before the previous downmove.

Buy above 1084 Tgt 1090,1100,1115 and 1130

ALLAHABAD BANK

Allahabad Bank broke out of its ascending triangle formation broke out last friday with volumes. Stock has entered into a …
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Technicals on HDFC,Tata Coffee and Bharti Airtel

HDFC
HDFC has been taking support from its short term rising trendline(drawn in Red) around 635 Levels.Blue Line drawn shows a classic example of support becoming resistance.
MACD has generated a Buy and RSI showing posting divergence.

Buy above 663 Tgt 669,680 and 690

Sell below 635 Tgt 626,617 and 610

Bharti Airtel
Bharti Airtel has been trading in a small trading range from 363-375 from past 14 trading session as shown in above chart.
After every volatile moves comes sideways move and every sideways move Volatile moves follows
Same is applicable to Bharti in the …
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Nifty Weekly Technical for Week 31 May

Nifty Hourly Chart

Nifty Did a U-Turn again and took everyone by surprise on its move on Last thursday. This move shows highly unpredicatble nature of market.
Market always follow the path of Least Resistance
On Hourly chart market has broken the downward trending trendline as Shown in chart. Next level of Resistance comes @5510 on Hourly charts.

Nifty Daily Chart
20 SMA is a tough resistance to crack on daily chart and in Extreme short term,Closing above 5485.8 will give another boaster to bulls to continue the trend on upside.
On Daily charts next level …
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VIX,Nifty Futures,Bank Nifty and Raymonds Expiry View

India VIX
VIX is the fear factor it and it signifies the the market volatility and prone of falling. VIX has inverse correlation with Nifty.ie. If VIX rises Nifty falls and vice versa. Live VIX CHART(Click on Link to see Live VIX chart)
As seen from above chart VIX is trying to cross 200 DMA@21. I it moves above 200 DMA it will enter in Bullish region which will have bearish implication on Nifty.
So have a close Watch on VIX for Nifty moves.


Nifty Weekly
Nifty Weekly chart has broken the Important Short term …
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Technicals on Bank Nifty and Jet Airways

Bank Nifty
Bank Nifty is trading at a very crucial junction and on verge of breakdown from Flag and Pole pattern.
Bank Nifty is trading end of lower end of and break of 10338 will lead to big downfall in Bank Nifty.
Market was consolidating yesterday and adjusting the oversold short term pattern.
Stochastic is still trading below 20,Hence Rallies should be used to exit longs and create fresh shorts.
Close above 10724 will nullify the bearish scenario we are talking about.
Selling is evident from the fact that bank Nifty is unable  to retrace 23.6% …
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ICICI Bank,DLF and Gitanjali gems technical Views

DLF Limited
DLF is trading a small range from past 3-4 Trading sessions forming lower highs and respecting its both upper and downward trendline.
Break of the Range will give momentum on upside or downside.
DLF is trading around its 5 EMA LOW and break/close of the same will give a impulsive down move.
RSI is in 50% indicating in netural zone.

Sell below 221.35 Tgt 220.5,217.6 and 214.8

Break of 220.5 one double its short.

Gitanjali Gems
Trading in a small range with low volumes from past many trading sessions. Stochastic turing up and yesterday tried …
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Technical Calls Wipro,Axis Bank and Praj Industries

WIPRO Ltd
Wipro has been a range bound Stock from almost a year. Weekly Chart of Wipro is shown range bound Moves in the Range of Rs 372-500.
Stock is forming a higher bottom on each fall and a Higher High before a fall which is a bullish case.
Presently stock is facing a trendline resistance@450 on its Weekly chart as shown with the Blue Line.

Buy above 450 Tgt 459,464 and 469

Sell Below 434 Tgt 428 and 422

AXIS BANK

Axis Bank has continued with its fall after bad results and now is consolidating in …
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Will Nifty May Expiry favour Bulls or Bears

Nifty Hourly Chart

Nifty Hourly chart on Friday was a classical example of Support becoming Resistance in a downtrend. As seen from the above Hourly charts we can observe that 5510-5515 was a support for Nifty during the fall where Nifty consolidated before the fall and now the same support has become resistance during the rise which came in on Friday.

Nifty Daily Chart
Nifty daily chart if we see the Trend line Breakout happened and Nifty is again unable to close above the trendline making it clear that selling pressure which is …
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Rules for Successful Trading

Nifty Moved from 5600 to 5400 and from 5400 to 5500 today. How many points were you able to made out of it.

When I interact with my readers on Mail or Phone I feel most of the people loose money for  reasons as mentioned
1. They are very rigid in there views — They have made there minds Nifty will go down so even if it goes up keep holding the positions. Keep on averaging your loosing trade till you are exhausted of your cash
2. Most of people Trade in Naked …
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Nifty and Compton Greaves Views for 20 May

Nifty Hourly Chart 

Nifty gave a Breakdown at much publicized  5471 levels and from past 2 days trading in a small range.
Yesterday was an Inside day,Inside day basically means when an Stocks is unable to break High and Low of Previous day.
Nifty was unable to break and was trading in a small range.
Nifty Daily
On Daily Charts Nifty has closed 3 days below the Trendline it broke and still unable to cross it making it clear the selling pressure we are facing on Higher levels.
RSI is oversold so we can get a …
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Technical View on RIL,Tata Motors and Hindalco

Nifty has been correcting from past few trading sessions and technically looking week. I have analysis ed the chart of 3 Heavyweight (RIL,TELCO and Hindalco)which can give us clue about Nifty moves in coming Days.

Reliance Industries
RIL has done nothing from past 2 years.The above is Weekly chart of RIL for 2 years.RIL has been trading in the range from 880-1200 from past 2 years.
880 has been long term support.Break of that will not only have bearish implication on RIL but Index also.
  Crimson Red will the color your should fall in …
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Nifty Will it give a Bounce?

Nifty Daily Chart
As said in previous Post Nifty is looking weak technically as unable to retrace 38.2% of its fall and Break of 5471 will make it correct furthur.
Charts discount everything and SBI results proved a Reason for Breakdown
How Long can this fall continue?
IF we draw the trendline from Low of 4200 we can see Support coming at 5365 levels.Nifty should halt its fall near this level and we can see a sharp and swift short covering rally offing as Indicators are oversold.


Nifty Hourly Chart
On Hourly charts again we see …
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Rgds,
Bramesh
09985711341

ONGC and SBI Technical View

State Bank of India
What an Earning shocker for Indian’s Largest bank and collapse in Stock.
State Bank of India’s fourth quarter net profit tumbled  98.8% YoY to INR 208.8 Mn on higher provisioning against non-performing assets and gratuity.

SBI broke its important short term support at 2500 and stock quickly gave a 100 point move on downside.
Shall we buy SBI now? NO NEVER EVER THINK OF BUYING A FALLING KNIFE.
I have marked the important support levels for SBI if it reached this level in this week small buy only for long …
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Nifty and Tata Steel Levels for May 17

Tata Steel
Tata Steel is at a crucial juncture @574,Level which has given support to Tata Steel 4 times on daily chart as can be seen in below chart.
Stock is trading below its 5 EMA Low@583  which should be watched closely if Tata Steel again bounce back from 574 levels.
Indicators are showing oversold charts but Indicators can remain overbought and oversold for extended period of time.
Sell below 574 TGt 571,565.8 and 555.2
Buy above 583 TGt 588 and 594

Nifty
Nifty Hourly charts is at a crucial juncture.In May series for past few trading …
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Technical Calls:BHEL and Godrej Industries

Godrej Industries

Godrej Industries is approaching its trendline resistance as shown in below daily charts. Trading range is getting smaller and in a tight range.Range breakout should happen on either breakdown or breakout.
 Buy above 198.5 Tgt 201,206 and 212 SL 196
Sell below 186.1 Tgt 

BHEL
Laxam Rekha for BHEL 50 SMA@2068 as clearly mentioned on charts.BHEL is unable to cross it and getting resisting at this level.On Lower line it is forming a higher lows .
Indicators are giving inconclusive indication
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Nifty Weekly TA for Week 16 May

Nifty Hourly
Nifty Hourly Charts are respecting the trend lines both on Upper end@5600 and on lower end @5440. Break on either side only will give range breakout. from this tight 200 point range.
Hourly was oversold and hence Nifty showed the much expected bounce but unable to cross the upper trendline @5600.
Market always move the path of Least resistance.
As we are trading below 200 DMA@5762 which makes us into bear market and Bear Markets rallies are swift like on Friday.
Do not get swayed away by one day one always look at …
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Can Money be made in Trading as a Profession

I have came accross many traders who have lost a fortune while trading and few people who made a fortune. Trading is a profession in which you require a Army like discipline and a peaceful mind.

90% of Traders Loose money

So now question arises why Traders loose money?
1. Having No trading system :- Most of Traders i have interacted have no system to trade with. Trading system will help a trader to generate Buy and Sell Levels with a proper Sl.
Trading system should work in all Kind of market and …
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Nifty Technical Levels for 12 May

Nifty Hourly
Nifty Hourly chart has been trading in a range of 5503-5492 for this week.A sideways move after 9 days of correction we saw.
As I have pointed in Weekly Analysis that 5595(Weekly Pivot) is am Important level which should be crossed for market to move till 5630 levels.Nifty is unable to cross this level in past 3 days.

On Hourly charts downside protection is coming at 5503-5515 levels.
Traders should trade the range of 5510-5590 till market does not break the range.
Break of 5595 is important for Bulls and Break of …
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Technical Calls:JP Associate and OBC

Jai Prakash Associate
JP Associate has corrected from High of 102 to low of Rs 84 as shown in the below charts.
Stock is trading in a tight range from past 5 trading sessions and range breakout will give a move of atleast 2-3% in a single session.
Break of Rs84 will give a quick move till 81 and a move above should give a move till 91
RSI and Stoch are in oversold region so a bounce back shall be offing but move above 87 is must for that
Buy above 87 Tgt 89,91.3 …
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Technical Calls:Jubilant Food,Amar Raja and Hind Zinc

Jubilant Food
Jubilant Food has been on a dream run from the day it listed and today it made a life time high@807 and moving into uncharted territory.Stock has been respecting its trend lines resisting at top end and taking support at lower end.

As per the above daily chart a pullback should be expected before  a  move up further. Pullbacks till Rs 748 should be used to
initiate longs in the stocks. Trend is your friend.
Stocks hitting new Highs will keep on Hitting Highs till the Market Participants have no more appetite …
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Nifty Weekly View for Week 9-14 May

Nifty Hourly Chart
On Hourly chart Nifty took support at the down trending trendline as shown in chart. 5450 levels proved to be a good support and a bounce back materialized from that levels ending the loss making streak of Nifty from past 9 sessions.
Nifty closed the week with a loss of 3.4% shaving off 200 points. 5 EMA and 20 SMA has generated Buy on Hourly charts but longs should be traded be cautious and use the rally to make shorts on higher end till Nifty does not close above …
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Need of Trading System in Trading

As mentioned in Earlier Article, trading is not about the big winners but the small consistent winners that add up over time to become very impressive annualized returns.

For example, if you use a strategy that produces a 10% monthly net return, that translates into an annual return of 120%!.Means Doubling your money in an Year  Little frequent victories win the war.

The underlying philosophy of trading is to design a trading system which can provide a higher than chance win-loss ratio together with a strict set of trading rules that will …
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Technical Views:Jet Airways,Tata Steel and Sesa Goa

Jet Airways
Our Site Reader Vimal asked me on TA for Jet Airways So discussing the same below
On Daily Charts Jet Airways looks to breach its downward trend line and in the process broke its 50 DMA@458.
If Jet breaks today's low @436 stock can move below 400 odd levels.

MACD has generated a SELL
RSI and STOCH are in sell zone

Sell below 434 Tgt 421 and 402

Buy above 453 Tgt 466,472 and 488

Sesa Goa
Sesa Goa forming a support around 296 and volumes are drying up which is giving an indication support will break …
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Nifty and Sintex Technical View

Sintex Industries
Sintex is trading with rising tops on daily chart and trading firmly above 200 DMA which is adding bullishness to stocks for extreme short term.
RSI rising is positive for the stocks.
Stochastic in Buy Zone.
As shown in chart stock is in multiple resistance zone of group of trend lines and a close above it will bring momentum to the stock.
Buy above 183.50 Tgt 186.7 and 190
Nifty Daily Chart
Nifty has taken support over the trendline which we have discussed yesterday in the chart and gave a bounceback from the levels.
There is …
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Nifty Under Bear Attack

Nifty Hourly Chart
RBI does it again for which market was not prepared for.Raising the the REPO and Reverse REPO by 50 BPS and markets tanked heavily.
Market did not discounted the news and Nifty tanked.
If we look at hourly charts on Nifty following observation can be noted down:
1. We are approaching a support zone of  5460-5555 which should provide support.
2. Oscillators and Indicators are oversold
So a relief rally should come either today or tomorrow which can take us back till 50 SMA@5630.

Daily Chart
On Daily Chart we are are can stop the …
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Bank Nifty Views Ahead of RBI meet

RBI will meet today on deciding the Interest rate Hike to ease of untaming inflation. From a fundamental perspective the tighter the Interest rate more it will affect the Growth cycle as Industries need to pay more Interest on loan hence affecting their profitably.
RBI has a tough task to do taming inflation and not slowing down the growth.
Looking from Technical Perceptive we can get the Best Indication from Bank Nifty.


Bank Nifty Hourly Chart
BN Hourly charts has generated sell from 11903 levels and still in SELL mode.BN was stuck in trading …
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Nifty Weekly Technical Bears Overpowering Bulls

Nifty Hourly Charts
Nifty Hourly charts are in sell mode from 5870  as shown in charts having combo of 5EMA and 20 SMA. On Higher side trendline resistance is coming from 5900+ levels and lower end downside is open till 5630 levels as of now.
Remember:Market always move in direction of least resistance.
Hourly charts Nifty is oversold and dead cat bounce from 200 DMA@5745 was excepted and it did last  hour of trade.On Hourly charts till Nifty does not close above 5 EMA High every rise should be used to SELL

Nifty Daily …
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