Technicals: Ranbaxy,Cairn and DLF

RANBAXY
Ranbaxy is facing a resistance in the range of 554-557 break of this range can propel the stock to 570 odd levels and failure to break the range can move the stock down to 514 levels. Good range to trade for swing traders

Buy above 557 Tgt 565 and 570

Sell below 544 Tgt 538,531 and 525

CAIRN

Cairn is trading in range of 302-314 and Indian government passing the deal today can give booster to stock on upside and move above its trading range.

Buy above 314 Tgt

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Nifty June Expiry Levels

Nifty Hourly Chart

Greek Parliament passes key austerity package is the latest headlines(Buy on Rumors and Sell on News will this again show it effect)

Nifty is rising from past 5 days Last time in remember Nifty rose from 9 days in a Row

Expiry Jitters tomorrow and volatile session is on its way.

Lets looks at Nifty Hourly chart

Straight line rise in Index. Moving in a vertical Channel as shown in above chart and never go against the market by shorting a strong market.

Negative divergence are observed in All …
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Technical Views:BHEL,HDFC Bank and JP Associate

JP Associate
JP associate has been trading in a Parallel channel as shown in above chart and forming a formation of  Lower Highs which is a bearish indication
Stock has taken support at 77.6 from past 2 days and breaks of this level will give a down move which can touch the downward channel.

Sell below 77.6 Tgt 76.1 and 74.6

HDFC BANK
HDFC BANK stock is moving into its supply zone of 2430 levels as shown in above chart.
Volumes are on Lower end

Sell below 2433 Tgt ....

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Technical View on:Nifty,SBI and HUL

Nifty Hourly
Nifty kept on its momentum build on Friday and rose another 1 % today.

On Hourly chart Resistances are @ 5565 and Mother of All Resistance 5610.
Indicators should only be used for trade confirmation .

As you can see in Hourly charts all indicators are in overbought zone and it does not imply that we need to take SHORT Trades.

Do not jump in trades based on your emotions,Enter when market gives an opportunity and wait for good Risk to Reward Ratio.

Market will not go anywhere so wait for Mr. Market …
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Developing an Effective Trading Strategy for Trading Success

Nifty did again the Unexpected Making everyone Bearish Blue Channel talking about 4800 Traders holding Bulk of Puts and Than came the U-turn and an awesome rally.
Traders who were Short need to cover at higher price or might be still holding the Shorts in a HOPE of nifty coming down.
100 % traders are bearish – how can market fall now? ?
For every trade to take place there must be a buyer and a seller. Further, there must be agreement on price and volume.
Most important aspect of Trading is your Trading Strategy whether you are trading for Intra day/Positional.

You need to have a trading Strategy to earn money in Stock Market

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Nifty Levels for 24 June

Nifty Hourly
Nifty Hourly traded as we had discussed in Previous post taking support at lower end of 5255-5245 range and resistance around 5325-5330 levels.
Classical Example of Support  5325 (Swing low before the fall) becoming Resistance Today’s  High 5330

Nifty Daily
On Daily chart Fibo retracement from a High of 5609 to low of 5196 give 38.2% retracement @5354 which should be next level of resistance if Nifty moves up above 5330 in tomorrows session.
RSI and Stoch are in oversold, and Bounce back is expected.
Nifty today formed a Bullish engulfing pattern which should …
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Nifty and SBI trading levels for 23 June

Nifty Hourly
Nifty Did nothing today was just consolidating in a range and We formed one more Inside Day (Unable to break previous day High and Low) and range is getting smaller for a breakout either on break above 5325 and below 5249.
From a short term perpesctive if 5196 taken out than we are in for a downhill till 5000.


Nifty Daily
On Nifty daily chart we can see a parallel channel formation and the bottom of channel being a resistance.Break above the  lower channel will take nifty to 5365 as shown in …
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Nifty Levels for 22 June

Nifty Daily Chart
Nifty daily has shown an inside day today and tomorrow should be crucial in term of a good trending day based on previous experiences of a INSIDE DAY
Fall till 5196 was based on trendline support as shown on above chart. 5389 is crucial top formed trade above which can only be respite to Bulls.

Nifty Hourly
 Nifty Hourly chart today was a classical example of Support becoming resistance. As seen from the previous  Charts 5325 was an important swing low and gave good support to market.
Today’s High of Nifty is …
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Trading Concepts:GTL Limited,GTL Infra,RIL and TATA Motors

This Post is for knowledge purpose.

GTL Infra
Never take a trade based on oversold/overbought indicators. GTL Infra  has been oversold  on Daily charts but on oversold chart can go it more oversold levels. Till the pain is not over.
It all depends on Demand and Supply so learn it a lesson never belive on indicators in a Trending market.
Trade with trend.

GTL limited

Never catch a falling Knife. Trading requires lots of patience both while deploying your money and booking your profits.
So never be in a hurry to buy a Stock else people …
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Nifty Weekly Technical for Week 20 June

Nifty Hourly Chart
Nifty Hourly chart shows the last support where a Bounce can be expected is last swing low of 5325. Hourly Chart are still in selling channel as shown in above chart and a close above 5391 and 5440 are important resistance levels.

Nifty Daily
Nifty Daily is again moving in a parallel downward trending  channel and No Sign Of Reversal Seen On Daily Charts.  Till we are unable to cross above 5440 there is no reversal on cards and rallies should be used to short the market on higher side.
There …
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Traits of Becoming Successful trader

Every trader need to Identifying his Strengths and Weaknesses
Trading requires as much honesty as is objectively possible. To be able to go over each trade and determine what you did right and what you did wrong requires putting ego aside for the benefit of becoming a better trader. You have to be able to admit “I was wrong”. With that being said, you can move foreword and find out why you were wrong and try to learn from the loss.
You may feel that you can be honest with yourself but …
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Nifty Levels to Trade for June 17

Nifty Hourly Chart
Has the Breakdown Happened ?
Nifty hourly chart is shown below where i have marked the support areas. 5393 was one Support the most important support will come near 5365-70 range if this get broken and sustained we will see a momentum fall.

Hourly Indicators are in Oversold zone and Rallies till 5455 should be used to short.

Nifty Fibo Chart
As per Fibo chart 5393 was 23.6 % retracement and Nifty took support gave a bounce.
Now on Higher side we are having resistance @ 5434 and 5455 levels which should be …
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Reliance,SBI and Tata Motors @Long term Support

TATA MOTORS
The 975-980 Band for TATA Motors is a good Long term support as shown in above chart.
If its gets broken only visible support is @ 900 Levels.
Stock has been forming lower lows and a close above 996 will negate that.
Buy around 980 With a sl of 972 Tgt 989,996,1003

Sell below 975 Tgt 964 and 955

SBIN
State Bank of India has formed a Head and Shoulder Pattern as shown in the Rectangle.
Neckline is placed around 2165.
Break of 2165 can drag the stock till 2000 in extremely short term where long term …
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Technical Analysis of BHEL,Kotak Bank

BHEL
BHEL has been trading range of 1894-1950 in daily chart. Stock is now trading in upper end of range @1950 and with volumes above average.
RSI and Stochastic is generating BUY.
Buy above 1950 Tgt 1960,1973 and 1982
Sell below 1941 Tgt ...


Kotak Bank
Kotak forming a symmetrical triangle with a Negative divergence in RSI.
Divergence should not be traded till we see the price confirming the downside move.



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Technical Levels:Nifty and BGR energy

Nifty Hourly
Nifty gave a expected upmove yesterday as per hourly charts.5440 was a level of Support and we saw an expected upmove inspite of weak global cues.
Trade on System not on your emotion/Intutuion
Now For today Arrow Marks in Red should be intital point of Resistance @5521 move above that should take us back 5550 levels.
Till now we are in Trading range of 5440-5570 and still in sideways mode ,Trade with less volumes.
Nifty Fibo

Nifty Fibo should us both support @5434 and Resistance @5495 . Now Next levels of Resistance comes @5545 …
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How to Make Money in Sideways/Non Trending market

Nifty has been doing nothing from past 5 trading sessions and many of my fellow traders are getting frustrated and irritated by the market moves.(including me ))

We initiate Buy and see our profit going in a whip of seconds and hitting our Sl.

We intitate Short it comes near our tgt and again get whipsawed

One of the  most important of Trading when is your position sizing. Never ever trade with High volumes in Sideways market.

Your most important asset your trading Capital should be protected in such market. Due to …
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Will Nifty Break the sideways move?

Nifty Hourly Chart

Nifty Hourly chart is forming a converging triangle as shown in the below chart.Nifty Futures have been in a trading range from 5480-5570 from past 5 days.Lows have been rising.
After Every Volatile Move Sideways move come and after Sideways move Volatility lies ahead.

On Hourly Chart we have support 5480 and 5450.

Nifty Daily

Nifty Daily  showing stuck in a trading range and Yesterday formed an Inside Day candle which signify volatile move ahead.
Today there is EGOM of Diesel Price Hike also so it can give the required boost to nifty …
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Trading Calls:Bombay Dyeing,HDIL and Bharti Airtel

Bombay Dyeing

Bombay dyeing has been respecting its upward and downward channel as shown in the chart. Break on above the trendline can add further rally to the stock.
  Momentum indicator are in overbought zone and Rise in stock is accompanied with expansion in volume which is healthy for stock

Buy above 375 Tgt 379 and 384

BHARTI AIRTEL

Bharti Airtel has been trading in triangle channel respecting both its up trending line and down trending line.
Stock moves in trading range of 375-385 which can be used for scalp trading in short term.Break of either …
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Technical Calls:NIFTY,HDFC and Larsen

HDFC LTD

HDFC is forming an ascending triangle with lower trendline support @ 659 Levels and Facing upper trendline support@685.
HDFC has been in trading range and its going smaller as per ascending triangle formation.
Indicators are showing strength but break of trading range is important for any explosive upmove either on downside or upside.
On Downside levels of 640 will provide decent support.

Buy above 674.2 Tgt 683,692

Sell below 658 Tgt 653,646 and 639

LARSEN

LT has been on good run up after results were out ,Stock moved from 1500 levels to 1750 odd levels. …
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Trading Calls:BHEL and Ambuja Cement

BHEL

BHEL has been looking weak on TA charts after its results and split news came.Stock was unable to cover the losses of result day and Slowly drifting down.BHEL has found good support around 1890 levels and have bounce twice from that.
Indicators are oversold so if 1890 is held a bounce can be expected and if 1890 breaks than BHEL can continue its downfall and fill the MAY-2009 Gap

GAP FILLING IN BHEL

Can BHEL fill the May 2009 Gap?
As seen from above chart BHEL1780-1876 is the gap which is unfilled where no …
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Nifty Weekly Technicals for 6 June

Nifty Hourly
Nifty Hourly Chart as discussed in Previous post 5600 should be crossed and sustained for further upmove. Nifty crossed the levels briefly but was unable to sustain the same.Reliance AGM was a reason for market to correct
5600 becomes psychologically more significant level.
As Seen from Hourly chart on Downside we have support of 5500 and 5461.These levels if sustained can protect the further downside
Nifty Daily

On Daily Chart again as pointed in above chart 5600 is the level to watch out for any further upside in market.
Reliance has sold …
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Why Most of Traders loose Money in Stock Market

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 intreact 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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Trading Calls:Nifty,Mphasis and TATA Coffee

Mphasis
Mphasis after 27% fall on bad results during the result season has unable to recoup its losses. Technically looking it looks poised for breakout above 485 levels for short term.
Indicators are showing short term strength.

Buy above 485 Tgt 491,497 and 505

Nifty Hourly
Nifty as expected gave a bounce back from opening lows of yesterday and giving recovery but unable to cross Resistance of 5568 as mentioned in yesterday’s post.
For Today Nifty has made a range between 5520-5570 move above this only can give a directional move.
Nifty Weekly
As today is weekly …
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Nifty,Glenmark Pharma and VOLTAMP TRANSFORMER levels

Nifty Hourly Chart

As seen from Hourly Chart Nifty was unable to cross 5600 which is the swing high before the previous fall. Negative Divergence was observed in RSI but we would require a price confirmation of the same.
Nifty was able to cross over 5565 the Fibo resistance which is a booster to Bulls now as Dow is already down -217 so we will have negative cues tomorrow morning as this dip should be bought into with sl of 5536 for positional trades
Intra Day levels

Buy above 5568 Tgt 5582,5606,5637

Sell below 5559 …

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Nifty Levels for 1 June

Nifty Hourly
Nifty Hourly charts as discussed before 5510  was the main resistance and break above that made nifty to close above an important short term resistance of 5555.
Now nifty is entering into another zone of resistance which was previously the swing high of 5601 which needs to be crossed and 5590 levels where Nifty is having cluster of resistances as shown in above chart.
Nifty Daily
On Daily chart nifty is able to cross and close above an importance trendline resistance around 5510 levels. Next levels of resistance is 5590 which …
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