Nifty for June 23 - No Respite from Selling - AP

The horrible effect of an island reversal was there for all to see. Both indices touched the lows of 2008 and this is certainly not the low of this year yet. The nearest support is seen at 4220- 4230, which in my opinion should hold at least for this month, June 2008. Hope the meaning of an ISLAND REVERSAL was explained loud and clear by bears.

Nifty Future For 20 June,2008 - Viral Joshi

As I said yesterday Dow Jones will bounce back from support level and it did.This day's markets would react upon reflection on the global cues. Negative sentiments from US markets, due to rising in crude prices and weak reported earnings from Fedex and Morgan Stanley. In my view, Nifty is not going to break 4400 level again and could bounce back from 4430 levels.

Pivot for Nifty future is 4500 and support 4430.

S1 4480; S2 4450; S3 4430; and R1 4500; R2 4520; R3 4550/4580;

Buy above 4500 and if it breaks 4520 then 4550-4580.
Short below 4490 and if it breaks 4480 then 4450-4430.

Market sideways at 4490-4500 .

Daily moving average:

5DMA 4566;
20DMA 4675;
50DMA 4878;
200DMA 5239.

Dow Jones Tonight for June 20 - Viral Joshi

Pivot is 12,055 and support is 12,000.

S1 12,055; S2 12,020; S3 12,000; and R1 12,080; R2 12,100; R3 12,120;

Above 12,060 Dow is positive and below 12,055, Dow is negative.

Nifty Update and Hot Stocks for June 20 - Inder Bhatia

The Indian market closed in the red zone. Markets saw selling pressure again; the bears pulled the market to the lower side and Nifty closed near the day's low. Nifty is now near the lower channel line, and breaking the lower channel line could see it drift to 4375 or perhaps a new low. Below 4470, it will be a weak sign for the bulls. If we see bounces from the lower channel end, 4535 would act as a resistance. If Nifty is able to cross 4535, it could test 4570-4600.

HOT STOCK: M&M ABOVE 574 TGT 581 >593 Stoploss 568.

STOCK TO WATCH: BAJAJHIND.

Stock Call - PRAJ Going for 205+ - Santosh Gundecha

Praj looks bottomed out after retracing to 186-87. It is moving in rising channel/Wedge and can give target of 205+. One can initiate trade near 190-91 with stoploss 186 for swing tgt of 205+.

A Tight SL Trade for Expiry - AP

If in the panic open today, bulls manage to hold the level mentioned in the chart, go long for F&O expiry.

Dow Jones Tonight June 19 - Viral Joshi

Pivot is 12,050 and support is 12,000.

S1 12,020; S2 12,010; S3 12,000; and R1 12,050; R2 12,080; R3 12,120;

Above 12,050 Dow is positive and below 12,020 Dow is negative.

Nifty Future for June 19 - Viral Joshi

Yesterday Asian markets did a pullback, so did our market too. As global outlook is weak, today Nifty can open gap-down. Use the dip for buying. As far i think Nifty future cannot break 4400 level again. As Dow Jones is also at my support level, from where I expect a bounce back, i.e 12,000 level. On the political front, the postponement of the Congress-Left meeting did the markets in, nonetheless, the Nuclear deal is still on the table - just on the sidelines for while.

For Nifty future, pivot is 4605 and support 4430.

S1 4550; S2 4500; S3 4480/4450; and R1 4580; R2 4610; R3 4650;

Buy above 4605 and if it breaks 4620 then 4650-4680;
Short below 4580 and if it breaks 4550 then 4500-4480.

Sideways range is 4580-4605 ;

Daily moving average:

5DMA 4573;
20DMA 4701;
50DMA 4881;
200DMA 5238.

Nifty Future - Bullish Island Reversal or Failure - Anil Desai

Nifty future daily chart shows an bullish Island-cluster reversal pattern. The doji and volume surge suggests the bullishness in the coming days, yet today's almost bearish engulfing pattern seems to be spoiling the formation. Tomorrow might be the D-day to determine the success or failure of this pattern. However, I continue to hold the view that 4200 should be tested soon.

Read below why still you should not act on this pattern and wait till pattern to take shape completely.

Now some theory on Island reversal: I am posting sample charts showing this pattern.

The above figure shows an example of an island bottom reversal chart pattern. Price enters the island at A by gapping lower and another gap sharing the same price appears at B. The two gaps form the island bottom.

You can see why islands do not work well. This one shows price moving up at B and then reversing, throwing back to the breakout price and continuing lower, ending well below the bottom of the island. Throwbacks and pullbacks hurt post-breakout performance. Since throwbacks and pullbacks happen so frequently, so you can wait for them to complete before taking a position.

Read more on Island reversal pattern here and here and here

Nifty Future for June 18 - Unable to Sustain - Santosh Gundecha

Nifty future was not able to sustain 4650 as expected. Now Nifty future should hold 4525 -4475 levels and again try to go at least till 4750. This looks as corrective rally only, unless it takes out 4750 at the earliest.

Nifty Future for June 19 - Make or Break - Inder Bhatia

HOURLY CHART: The Indian market closed in the red zone. The markets saw selling across the counters and the Nifty erased all of yesterday's gains. As we can see on the Nifty future hourly chart, there is gap around 4509-4549, and in the coming session, this could get filled. Thus, 4500 would act as a strong support zone, where we could see some buying. However, if this channel breaks we would test again 4370 levels. The latter half of tomorrow would be very crucial.


HOT CALL: Sell TATASTEEL

Nifty Future - Dangerous Island Reversal on Cards - AP

Bulls have to try with all their might to ensure that Nifty future does not open gapdown below 4534, else we have a dangerous island reversal on the cards. Yesterday, Dow Jones opened with a bang, and closed with a whimper. Our markets did the same today, ignoring China and Hong Kong. This fall today brings the markets back to the edge of the cliff.

Jindal Stainless - Ugly Bottom Reversal - Inder Bhatia

Sail - Intraday - Inder Bhatia

Buy SAIL 169.50 TGT 171 >175 Stoploss 166.

Nifty Future Update - Intraday - Bearish Rising Wedge - Ayesha

Nifty future on 15-minute chart shows a bearish rising wedge being formed. Watch the lines and trade accordingly.

LIC Housing Finance - This Is Not Trending as Yet

LICHSGFIN had shown some promise, but it is finding 310 a difficult barrier to break. Although it has broken a down channel, and take a significant support, the bounce up has been weak, making it a dodgy candidate for trend traders. The new smooth ADX shows that the stock is in a weak trend, and if some push does not come within the next two days, we would see LICHSGFIN doing a drunken kung-fu moves in this zone. Any push coming in would take it to new heights. Trail longs with stoploss below previous day's low.

LITL - Short-term

LITL made a bottom where significant volumes were noticed. On both hours, the price opened low and closed higher. We have a morning star patterns at bottom. Using adequate stoploss at the previous day's bottom, one can continue to trail the long position forward. Targets are as shown.

Dow Jones Tonight for June 18 - Viral Joshi

Pivot is 12,185 and support 12,100;

S1 12,150; S2 12,100; S3 12,050; and R1 12,185; R2 12,220; R3 12,280;

Above 12,185 is positive and below 12,150 is negative.

Nifty Future for June 18 - Viral Joshi

Pivot is 4615 and support 4520.

S1 4615; S2 4580; S3 4520; and R1 4650; R2 4680; R3 4720;

Buy above 4635 and if it breaks 4650 then 4680-4720.
Short below 4615 and if it breaks 4580 then 4550-4520.

Daily moving averages:

5DMA 4561;
20DMA 4728;
50DMA 4884;
200DMA 5237.

Kotak Bank - Intraday - Inder Bhatia

BUY KOTAK 661 TGT 683>691 >707 Stoploss 637.

Dow Jones Tonight for June 17 - Viral Joshi

Pivot is 12,270 and support 12,150.

S1 12,250; S2 12,210; S3 12,150; and R1 12,320; R2 12,350; R3 12,380;

Dow is positive above 12,270 and Dow is negative below 12,250.

Nifty Future For June 17 - Viral Joshi

Pivot is 4575 and support 4500.

S1 4550; S2 4520; S3 4500; and R1 4575; R2 4610; R3 4650/4680;

Buy above 4580 and if it breaks 4610 then 4650-4680;
Short below 4575 and if it breaks 4550 then 4520-4500;

Daily moving averages:

5DMA 4520;
20DMA 4750;
50DMA 4886;
200DMA 5236.

Nifty Update and Hot Calls for June 17 - Inder Bhatia

The Indian market closed in the green zone. Market opened gap-up following global cues. On the upper side it saw some selling pressure but managed to closed above the downtrend channel line. On the upper side 4629 will act as strong resistance and 4530 will act as support zone. Our target of 4630 is intact.

HOT CALL: ICICI BANK

Dow Jones for June 16-20 - Rakesh Chandra

It looks like Dow Jones would have another day of upside. This will form the upper channel, and then it would go down again, and one can expect it to touch the lower channel.

Upwave (4-5) UT3: 12,560;
Upwave (2-3) UT2: 12,491;
Upwave (0-1) UT1: 12,381.

Price is bullish above weekly pivot point 12,312.14 and bearish below 12,269.86.

Down Wave (0-1) LT1: 12,201;
Down Wave (2-3) LT2: 12,091;
Down Wave(4-5) LT3: 12,022.

Crude Oil for June 16-20 - Rakesh Chandra

Currently, crude oil is in consolidation. Upside and downside cannot be ignored. All pivot and levels for this week only:

Upwave (4-5) UT3 : 142;
Upwave (2-3) UT2 : 140;
Upwave (0-1) UT1: 137.

Price is bullish above 135.22) and bearish below 134.13.

Down wave (0-1) LT1: 132;
Down wave (2-3) LT2: 130;
Down wave (4-5) LT3: 128.

Gold for June 16-20 - Rakesh Chandra

This week Gold can move in any direction.

Upwave(4-5) UT3: 917;
Upwave(2-3) UT2: 905;
Upwave(0-1) UT1: 885.

Price is bullish above 873.07 and bearish below 865.53.

Down Wave(0-1) LT1: 853;
Down Wave(2-3) LT2: 834;
Down Wave(4-5) LT3: 821.

Hot Stock - Intraday - Welspun Gujarat - Inder Bhatia

Hot Stock: Buy WELGUJ 374 TGT 383>385 Stoploss 363

Dow Jones Tonight June 16 - Viral Joshi

Pivot is 12,245 and support is 12,150.

S1 12,280; S2 12,245; S3 12,150; and R1 12,320; R2 12,350; R3 12,420;

Dow is positive above 12,280 and negative below 12,245 .

Nifty Future For June 16 - Viral Joshi

Pivot is 4500 and support is 4475

S1 4480; S2 4450; S3 4420/4400; and R1 4535; R2 4580; R3 4650.

Buy above 4500 and if it breaks 4520 then 4550-4610-4650;
Short below 4500 and if it breaks 4480 then 4450-4420-4400.

Daily moving average:

5DMA 4506;
20DMA 4779;
50DMA 4890;
200DMA 5234.

Nifty Weekly Update for June 16-20 - Inder Bhatia

HOURLY CHART: Indian markets closed in the red, and was pulled down from its opening gain, due to high inflation. On the hourly chart Nifty is making an inverted head and shoulder formation, with the neckline at 4553. If it is able to cross this with volumes, we could test 4639 on the upside. Below this neckline, 4400-4370 is the target.

DAILY CHART: Last week Nifty lost 2.38 % percent and made a new low of 4369. Subsequently, it made 2-3 attempts intraday basically breaking the trendline but managed to closed above it. Bulls are still supporting on the lower band.

For the coming week, crossing above 4573 will break the downward channel and we can see an upmove to the 4739 zone. On a weekly basis, we have made a hammer. If we open gap-up tomorrow, if tomorrow and sustain it, we could test 4730-4758 . If it close below 4503, we can test 4443–4370. Closing above 4639 it can touch 4700-4761. For this week, the key level is 4503.

WEEKLY CHART: We are still bound in a range, with 4365 lower levels and 4950 upper strong resistances levels .closing below 4448 test of 4265 – 4030 .

Weekly Hot Stocks for June 16-20 - Inder Bhatia

Buy Aurobindo above 334 TGT 360>386 Stoploss 310.

Buy BHARATFORG above 261.85 TGT 269 >276 Stoploss 254.

Buy ABAN above 3745 TGT 3790>3851 Stoploss 3700.

Buy CHAMBALFERT 90 TGT 97>105 >109 STOPLOSS 86.

Stocks to Watch: INDUSBANK, GNFC

Nifty Future for June 16-20 - Rakesh Chandra

We are bottoming out so the coming days look attractive.

Upwave (4-5) WUT3: 4,667;
Upwave (2-3) WUT2: 4,620;
Upwave (0-1) WUT1: 4,544.

Price is bullish above 4,496.54), weekly pivot point.
Price is bearish above 4,467.46), weekly pivot point.

Down Wave (0-1) WLT1: 4,420;
Down Wave (2-3) WLT2: 4,344;
Down Wave (4-5) WLT3: 4,297.

Massive Crash Awaits Realty Pack - Or Is this My Imagination?

How about DLF at 190, and Unitech at 88? If the charts are right, then the day is not very far away.

Over the last few years, one story that has been shouted from across rooftops, pun unintended, has been the realty segment. Super IPOs, immense noise, and the overall hurry as if the world was running out of land. Nonetheless, despite hue and cries about land prices and apartment prices being in a bubble, nothing made a difference to the fact that Unitech rose 10 times and DLF 3 times, since their IPOs.

Unitech has been in the news for the Rs 1500 crore investment in its Santacruz SRA project. There has been several news that have been praising the real estate industry since March 2008. However, it appears that the charts are telling a different story. Specifically Unitech, which is in the Nifty 50. Here are the charts of Unitech and DLF.

However, glaring formations on the charts indicate a vicious change in scenario. Now, I have been known to cry hoarse about bubbles and nothing has come of it, with the market proving me completely wrong. Yet, this time, it is not my wish or command, but simply what is evident on the charts. This time, it looks a massive crash awaits the realty stocks, in the next few months. Here are the charts of two leaders of this pack. You be the judge. If the above becomes a reality, these charts will become milestones in history.