Dow Jones Tonight for May 16 - Viral Joshi

Pivot for Dow Jones is 12,950 and support 12,820;
Below 12,955, Dow is negative.

Nifty Future For 16 May - Viral Joshi

Nifty future pivot is 5080 and support is 5050;

S1 5100; S2 5080; S3 5050; and R1 5150; R2 5180; R3 5220;

Buy above 5120 and if it breaks 5150, then 5180-5220;
Short below 5100 and if it breaks 5080 then 5050-5030.

Nifty Future for May 16 - Rakesh Chandra

Once again, everything is going fine according to analysis. Market did resist for about 2 hours during the day as mentioned in yesterday's report. I had said,"... keep in mind that the bears are still smiling, so volatility not be ignored". At the same time, I had said: "now the match is under the bulls control". As we saw, ultimately the price went up, and now the intermediate momentum and direction is upward and accelerating, which will lead to Nifty future's weekly level (check earlier reports). Now it is time for positional traders to take profits home at a comfortable level. Coming Monday, we shall have a new weekly report, and we will add position according to the direction prevalent at the time. Specific stocks would perform according to their technicals.

Intraday bullish level is 5,122.26;

Intraday bearish level is 5,109.74.

Nifty Updates for May 16 - Bang On! - Inder Bhatia

Hourly Chart: The Indian market opened bang-on and closed near the day's high. Above 5040-5080, a big move could seen. Nifty is trading in a channel band and is heading for the upper band of 5340, but before this will pause near the 5220 zone. On the lower side, 4930 will act strong support zone . We could see some action in the banking and power sectors.

Hot Stocks: Bank of India and ICICI Bank.

Nifty and Stock Calls View for May 16 - Kailash Pareek

Nifty did well today. As mentioned in the last post, we may break out within 8-10 trading days. Things are getting positive now and the fear is less. I guess traders will return once again. As there is no change in my views regarding Nifty, lets move for calls for tomorrow.

TATAPOWER -- Buy above 1406. Look at the chart of this stock. It never came below 200 EMA since April 2007.

HINDALCO -- Buy above 207. It has broken out from complex triangle. It has consolidated now and is ready to blast.

RENUKA -- Buy above 139. The stock is bullish.

Dow Jones Tonight for May 15 - Viral Joshi

Pivot for Dow Jones is 12,955; Support at 12,780;

S1 12,880; S2 12,860; S3 12,820/12,780; and;
R1 12,920; R2 12,955; R3 12,980/13,100;

Above 12,955 will be a big positive;
Below 12,900 negative;

Nifty Spot for May 15 - Tanmoy Ghosh

Spot Nifty +is positive above 5039; and UT is 5062 / 5102 / 5122 max;
and lower target below 5001 is 4961 / 4929 max.
Watch IFCI. Hope you all remember my prediction on April 17. Now watch May 21, (plus or minus 1 day), the day for correction.

Nifty Future for May 15 - Rakesh Chandra

The market reacted at the same way as mentioned in yesterday's report: After the 5th down wave termination or failure, we will see upside in price. Now, matches are under the bulls control, but keep in mind bears are still smiling, hence volatility cannot be ignored.

An upside opening of Nifty future will again have a UT1 of 5066, and then there will be consolidation on 5-min scale. Then have to check posibility or truncation of 5th upwave. It depends upon how much time it has taken in consolidation and how much low it made. Let's leave this part to the market.

Intraday bullish level is 5,018;
Intraday bearish level is 5005;
(Check weekly report for upper and lower targets).

Nifty Future for May 15 - Viral Joshi

Pivot for Nifty future is 5000; support: 4950

S1 5000; S2 4980; S3 4950/4920; and R1 5030; R2 5065; R3 5080/5150;

Buy above 5005 and if it breaks 5030, then 5065 - 5080 - 5150;
Short below 5000 and if it breaks 4980 then 4950 - 4920;

once 5080 breaks, fresh buying will take place .

Wipro Chart Shows Bullishness - Dr Zingaro

Wipro will do well in mid-term as Indian rupee is heading south. My exit points 546-560-588.

Nifty Self-Explanatory Chart - Inder Bhatia

Nifty Update for May 15 - Bulls in Control - Inder Bhatia

Hourly Chart: The Indian market closed in the green. After a shaky start, Nifty found its ground near the 200-hour SMA, and started its upward journey, managing to close above its day's high.

Nifty is making a “W “ pattern on hourly char. In the coming session, if Nifty trades above 5031, it will test 5066. If Nifty breaks 5066, and trades convincingly upward, its target would be 5150-5178. On the lower side 4930 will act strong support.

Buy Nifty above 5028; T5060 - 5077; stoploss 4995.

200 HMA-gic: Magician at Work

Is there some magician who has cast his spell on the stock markets? Looking at the amazing lows of the Nifty today, it appears very likely. Today's low on Nifty spot is again bang on the 200 Hourly MA that was mentioned a couple of days ago.

A support level becomes a serious support level after getting retested. This is exactly what happened today. If bulls are standing at this level, what will bears do?

They have two alternatives:

• Retreat back a bit, take a start a la Shoaib Akhtar and make one more attempt on this level;
• Just run away (as in start covering shorts).

It would be curious to see which one will take the markets up now, if this level holds. Will it be bears who will take the market up, or fresh buying by bulls? Unfortunately, this answer will be available only after 9.55 am tomorrow. If long overnight, use 4940 Nifty Spot as a stoploss level and stay long. It does not matter who you are riding with: retreating bears or new bulls.

Interestingly, the Dow is behaving exactly the way Nifty is, up 100 points after just 25 minutes of trade today. If Dow closes strong, expect a strong opening tomorrow, and enjoy the 200 HMA-gic.

Potential Nifty targets are marked in the next chart, which at this point in time would be very difficult for most people to believe.

Keep the faith and enjoy the Nifty tomorrow. The 200-HMA magician could conjure up some really good tricks for you.

Cheers.

Nifty View and Stocks for May 15 - Kailash Pareek

The market is in a trading zone. I wrote here couple of days back that one pattern is in progress on the Nifty chart. Look above chart, the red semicircle is expected trend right now. If things happens like this, then we will see the resumption of a rally within 8-10 days which can lead us towards 5500-5525.

Scrips for tomorrow:

HINDZINC -- Buy above 746.50;

TITAN -- Buy above 1324;

Enjoy.

Dow Jones Tonight (May 14) - Viral Joshi

Pivot for Dow Jones is 12,830; Support: 12,720;

S1 12,820; S2 12,780; S3 12,720; and;

R1 12,850; R2 12,880; R3 12,900/12,950;

Dow is positive above 12,830 ;
Dow is negative below 12,820 ;

Nify Future for May 14 - Viral Joshi

Nifty future Pivot is 5005 and support 4870.

S1 4950 S2 4870 S3 4820 and R1 4980 R2 5005/5030 R3 5055/5100;

Nifty Future
Buy Above 5005 and if breaks 5030 then 5055 - 5100 - 5150;
Short Below 4950 and if breaks 4920 then 4870 - 4820;

4950 - 5005 is sideways movement;

Moving average

5D 5034;
20D 5046;
50D 4913;
200D 5183;

4913 can be said to be the last support for bulls.

Nifty Future Report for May 14 - Rakesh Chandra

Yesterday's fall was due on cards, and was mentioned in the previous day's Nifty Future report. On EOD basis, the upper channel line has not been completed, so there is hope for bulls, but the session will be volatile. Day traders can adjust their positions on both sides at a weekly level given. On the 5-minute chart, an extended 3rd wave has completed, and any upside in the first session will go just to the 4th up wave. A 5th down wave will still be expected. After this 5th wave termination or failure, we will see upside in price.

Intraday bullish level is 4,959.81;
Intraday bearish level is 4,942.19;

4880 Key Level to Watch on May 14 - Inder Bhatia

Hourly Chart: The Indian market closed in the deep red after opening on a strong note, backed by positive global cues. Markets tumbled down in the afternoon session, and Nifty was unable to cross our key levels of 5078. The Nifty is near major trendline and near the 200 SMA on the hourly chart. If nifty breaks 4910-4900, we could test 4880 to 4830 levels . On the upper side, Nifty could see 5023-5078, which would act as a resistance zone. Key level to watch is 4880.

Stocks Calls for May 14 - Kailash Pareek

Look the chart of Exide Industries, and see how one pattern in another same pattern. It has a positive breakout from IH&S and now ready to give breakout from bigger IH&S.

As I hinted in my last post, the market is facing stiff resistance. One rumor that ran throught the day was about India's Left parties withdrawing support to the ruling Congress-led UPA government.

Anyway, below are some calls:

Ansal Infra - Short below 159;

Syndicate Bank - Short below 74;

Enjoy.

Dow Jones Tonight (May 13) - Viral Joshi

As I had said, above 12,750 Dow Jones is positive and it can move till 12,876.31.

For today,

Pivot : 12,855;
Support : 12,800;

S1 12,860; S2 12,840; S3 12,820; and R1 12,880; R2 12,920; R3 12,950;

Above 12,850 Positive and;
Below 12,820 Negative.

Nifty Future for May 13 - Viral Joshi

PIVOT : 4985 SUPPORT : 4950;

S1 5020; S2 5000; S3 4985/4950 and R1 5050; R2 5100; R3 5150;

Buy above 5020; if it breaks 5050 then target is 5100 - 5150 - 5220;
Short below 5000 and if it breaks 4985 then 4950 - 4920.

Nifty Future for May 13 - Rakesh Chandra

Nifty future on hourly chart currently trading in 4th wave after completion of 3rd down wave. Still the Elliot oscilltor has not yet given bullish divergence signal. This signal will come only after the upside price move, and then some decline.

For an aggresive trader, booking profit at gap-up area is not a bad idea. One can reenter on some price decline. .Positional traders can hold for weekly upper target.

For intra-day: 5035 is the bullish level and 5019 is the intraday bearish level.

Nifty Heading for 5340-5500 - Inder Bhatia

Nifty Hourly: Nifty opened on a weak note but saw smart recovery towards the final trading hours of the session, despite poor growth in industrial production figures. Nifty has taken support at a lower trendline of the channel on the hourly chart, and has seen sharp bounces. If Nifty crosses 5022, it will test our weekly key levels 5077. Nifty is trading at the lower band today. With a tight stop loss, it is heading for 5340 -5500 levels .

The Beauty of the Hourly 200 MA - Abhijit Phatak

Every low and high for the Nifty or for that matter any stock has some significance. Traders must be wondering what was the signifiance of today's low on Nifty - i.e. 4914.8. The low today was bang on the hourly 200 MA - yes!

The 200 DMA is quite well known even to those who do not follow charts, thanks to our TV channels. However, it is quite interesting to note that the hourly 200 MA (200 HMA) too plays a role in giving support and acting as resistance. For a trader, the thumb rule to be followed is simple - look for shorts just below the 200 HMA and look for longs just above the 200 HMA. Stop loss levels are very tight in such situations. Some hints for trading tomorrow - IDBI, RCOM, Reliance Industries and many more on the long side.

Happy trading.

Nifty Prediction for May 13 - Tanmoy Ghosh

Spot Nifty will be very positive only above 4996.60. Below this level, short the Nifty for a target of 4913, which is a strong support level. The move above 4996.60 has a target of 5040.25, and 5067.25 to 5111.65. There is strong resistance at this level. We anticipate the trend to be intact above 5040.

Dow Jones Weekly Targets (May 12-17) - Rakesh Chandra

Dow Jones on the hourly charts has completed a 5th down wave cycle. There is a good chance to upside, if it trades above the weekly bullish level .on EOD this upmove will lead the Dow to the upper channel line.

The current targets are valid for this week only.

Price is bullish above weekly pivot point 12,770.66.
Upwave (4-5) UT3: 13,071
Upwave (2-3) UT2: 12,988
Upwave (0-1) UT1: 12,854 (target achived)

Price is bearish below weekly pivot point 12719.34.

Down wave (0-1) LT1: 12,636
Down Wave (2-3) LT2: 12,502
Down Wave (4-5) LT3: 12,419

Dow Jones Tonight for May 12 - Viral Joshi

As Dow Jones breaks support level of 12, 800, it will turn negative

now , next support at 12,720.

above 12,750 it turn positive

Nifty Future for May 12 - Viral Joshi

Pivot point :5020 support :4900
S1 4950 S2 4920 S3 4900 and R1 5020 R2 5050 R3 5100.

Buy Nifty Future above 5020, and if it breaks 5050, then we could get 5080-5100.
Short Nifty Futures below 5020. If it breaks 4980, we could get 4950-4920.

Nifty Futures for May 12-17 - Rakesh Chandra

Nifty future on hourly and 5-minute charts is in the oversold area. However, no longs would be entered into, until a buy signal is triggered on hourly charts. I am betting on the higher side of Nifty in the coming days. Strictly rule stop losses, and do not buy, if Nifty futures are below the bearish level.

Weekly Bullish Targets: Price is bullish above weekly pivot point 4,995.87.

Up wave (4-5) UT3 : 5,252
Up wave (2-3) UT2 : 5,181
Up wave (0-1) UT1 : 5,067

Weekly Bearish Targets: Price is bearish below 4,952.13.

Down wave (0-1) LT1 : 4,881
Down wave (2-3) LT2 : 4,767
Down wave (4-5) LT3 : 4,696

Nifty advance View - Rakesh Chandra

Weekly Charts: There is a chance this time that the overall bull market will get truncated, and fail. Nifty has just completed the 4th wave on wekly chart. and the 5th down wave is still on cards. Before, going in to the 5th down wave , it has to give sell signal on EOD basis. Hence, any upside up to 5250 is still valid. The anticipated target for such a move would be 5,262.19.

Price is bullish above the monthly pivot point of 5,262.19.
Price is bearish below monthly pivot point of 5172.61.

Nifty Updates for the Week - Inder Bhatia

Hourly Charts: Nifty closed in deep red with heavy losses backed by unfavorable inflation, which rose to 42-month high of 7.61 percent. Nifty is in the oversold zone on hourly chart and near major trendline as shown on chart it can test lower line and take bounces from trendline.Daily Charts: Last week Nifty lost 4.7% and closed below 5000. On the daily charts, Nifty is in a channel and coming to lower band. Nifty has strong support zone 4940-4880. In the coming week if Nifty closes above 5070, on upside, it can test 5110–5168. If it falls below 4970, it can test 4883-4733, which is a key level to watch -- a lower trendline as drawn on chart.

Weekly Charts : The Weekly charts show we are still rangebound at 4900 lower levels and 5400 upper strong resistances levels. However, on the weekly charts, Nifty has made a bearish engulfing pattern.