Nifty Update for August 8 - Rakesh Chandra

Once again, Nifty does as I had anticipated. I had said, "I agree with Sainik that there is light ahead of the tunnel, but I would like to add some more. We have indeed some more tunnel ahead and it is possible that the light could go off any time."

Global cues suggests light has been turned off and today we will see a gap-down opening.
Nifty future is bullish above 4541 and bearish below 4525. On the lower side, 4459> 4418 is a buying point, or a point for shorts to cover.

Dow Jones Tonight for Aug 8 - Viral Joshi

Pivot is 11,500 and support is 11,350.

S1 11,400; S2 11,380; S3 11,350; and R1 11,500; R2 11,520; R3 11,550.

Above 11,500 Dow is positive and below 11,400 Dow is negative.

Nifty Future for Aug 8 - Viral Joshi

Pivot is 4535 and support is 4400.

S1 4500; S2 4450; S3 4400; and R1 4535; R2 4550; R3 4600/4650;

Buy above 4535 and if it breaks 4550 then 4600 - 4650.
Short below 4500 and if it breaks 4480 then 4450 - 4400.

Daily moving averages:

5DMA 4471;
20DMA 4247;
50DMA 4317;
200DMA 5110.

Nifty Update for August 8 - Inder Bhatia

The Indian market opened on weak note, traded in a narrow range, and saw some selling pressure at higher levels. Nonetheless, it managed to close in the green zone. For the coming session, if Nifty trades below 4461, we could witness more selling pressure up to 4300-4264 levels. However, crossing above 4620 more upside can not be ruled out.

Adlabs - Inverse Head and Shoulders - Inder Bhatia

Buy ADLAB above 550 TGT 565 >580 Stop loss 541.

Dow Jones Tonight for Aug 7 - Viral Joshi

Pivot is 11,630 and support is 11,500.

S1 11,630; S2 11,580; S3 11,550/11,500; and R1 11,680; R2 11,700; R3 11,750.

Above 11,680 Dow is positive and below 11,630 Dow is negative.

Nifty Future for Aug 7 - Viral Joshi

Pivot is 4550 and support is 4400.

S1 4500; S2 4450; S3 4400; and R1 4550; R2 4620; R3 4650/4680;

Buy above 4550 and if it breaks 4620 then 4650 - 4680.
Short below 4500 and if it breaks 4480 then 4450 - 4400.

Daily moving averages:

5DMA 4432;
20DMA 4229;
50DMA 4323;
200DMA 5113.

Unitech - Hot Stock - Santosh Gundecha

An Inverse Head and Shoulders (IHS) is visible in Unitech. This is a bullish signal.

If Unitech is able to trade above 176-77 for a day or two , it could see the targets of 210-220 range.

Trade (Swing): Buy Unitech if it trades above 177 with Stop loss of 170, for a swing target of 210 to 220 .

Nifty Update for August 7 - Inder Bhatia

The Indian market opened gap-up but unable to sustain at higher levels, and hence profit booking was seen. As the Nifty had kissed its 100SMA at 4620, a reversal from there was expected, but it closed marginally up. For the coming session 4451 will act as support zone and 4630 will act a strong resistances zone. We can see some sideways or consolidation in the 4360-4600 zone .

Dow Jones Tonight for Aug 6 - Viral Joshi

Pivot is 11,550 and support is 11,500.

S1 11,600; S2 11,580; S3 11,550/11,500; and R1 11,620; R2 11,650; R3 11,720.

Above 11,620 Dow is positive and below 11,550 Dow is negative.

Voltas - Hot Call - Inder Bhatia

Buy Voltas above 141 TGT 147>151 Stoploss 137.50

Nifty in Third Wave - Dr Zingaro

Nifty is in the third wave. The targets and resistances are 4585-4720-4920.

Bank of India - Extremely Bullish - Dr Zingaro

Bank of India is showing an Inverse Head and Shoulders (IHS) with a target of 375.

Nifty Future for Aug 6 - Viral Joshi

Pivot is 4500 and support is 4400.

S1 4500; S2 4450; S3 4400; and R1 4550; R2 4620; R3 4650/4680;

Buy above 4550 and if it breaks 4620 then 4650 - 4680.
Short below 4500 and if it breaks 4480 then 4450 - 4400.

Daily moving averages:

5DMA 4392;
20DMA 4211;
50DMA 4331;
200DMA 5117.

Nifty Update for August 6 - Inder Bhatia

The Indian market opened on flat note and drift down in negative and traded in narrow range . In the later session nifty saw breakout from the range and spurt above 4500 levels .,As we had mention above 4450 above we can test 4563 -4629 levels. For the coming session 4450 -4400 will act as support zone.

Buy PNB above 516 TGT 524>533 Stoploss 508.

Nifty Wants to Fly Up - Anil Desai

A simple trading system gave a buy signal on Nifty. Coincidentally, today Nifty also closed above the low of March 18 (circled white ), which is a major resistance. I think it is the time to go long.

Quote: The truth is rarely pure and never simple - Oscar Wilde

Dow Jones Tonight for August 5 - Viral Joshi

Pivot is 11,320 and support is 11,200.

S1 11,280; S2 11,250; S3 11,200; and R1 11,320; R2 11,350; R3 11,400.

Above 11,320 Dow is positive and below 11,280 Dow is negative.

Sail - Intraday - Inder Bhatia

Buy SAIL above 151 TGT 159>165 Stoploss 147.

Nifty Future For Aug 5 - Viral Joshi

Pivot is 4400 and support is 4310.

S1 4380; S2 4350; S3 4310; and R1 4400; R2 4450; R3 4480/4500;

Buy above 4400 and if it breaks 4450 then 4480 - 4500.
Short below 4400 and if it breaks 4380 then 4350 - 4310.

Daily moving averages:

5DMA 4329;
20DMA 4186;
50DMA 4338;
200DMA 5123.

Nifty Update For August 5 - Inder Bhatia

The Indian market opened on a flat note and traded sideways and in a narrow range. It was a volatile trading session. For the coming session, if Nifty breaks 4340 levels, we could see some more selling pressure. A breakout above 4450 can make us test 4560-4583 levels.

Dow Jones Weekly for August 4-8 - Rakesh Chandra

On an EOD basis, Dow is in a non-trending zone, which is crucial, since a break and movement on any side would give strength in that direction.

The pivot, lower target and upper target are valid only.

Upwave (4-5) WUT3: 11,764;
Upwave (2-3) WUT2: 11,646;
Upwave (0-1) WUT1: 11,456;

Price is bullish above 11,338.30 and price is bearish below 11,265.70.

Down wave (0-1) WLT1: 11,148;
Down wave (2-3) WLT2: 10,958;
Down wave (4-5) WLT3: 10,840.

Gold for the Week August 4-8 - Rakesh Chandra

On EOD basis, gold will find it hard to sustain the upside.

Upwave (4-5) UT3 : 945;
Upwave (2-3) UT2 : 936;
Upwave (0-1) UT1: 921;

Price is bullish above weekly pivot point 911.77;
Price is bearish below weekly pivot point 906.03;

Down wave (0-1) WLT1: 897;
Down wave (2-3) WLT2: 882;
Down wave (4-5) WLT3: 872.

Nifty Future Weekly for August 4-8 - Rakesh Chandra

I agree with Sainik that there is light ahead of the tunnel, but I would like to add some more. We have indeed some more tunnel ahead and it is possible that the light could go off any time.

Let me explain:

This bull rally has many resistances on the upper side between 4600 and 4800, so we will see strong rise one day and sudden fall and consolidation, the next day. The market looks good on the EOD charts, but on the weekly I anticipate some problems.

The price momentum that has been continuing from last 3 weeks. Usually, after a 3-bar pattern, the price reverses. Of course, let the market decide which direction the camel should face. From a trading point of view, we will go long only above the bullish weekly level. Any decline up to the weekly lower side is a buying opportunity.

Upwave (4-5) UT3 : 4,697;
Upwave (2-3) UT2 : 4,631;
Upwave (0-1) UT1: 4,525;

Price is bullish over weekly pivot point 4,459.29 and bearish below 4,418.71.

Weekly lower target is:

Down Wave (0-1) LT1 : 4,353;
Down Wave (2-3) LT2 : 4,247;
Down Wave (4-5) LT3 : 4,181.

Dow Jones Tonight for Aug 4 - Viral Joshi

Pivot is 11,330 and support is 11,250.

S1 11,330; S2 11,300; S3 11,250; and R1 11,350; R2 11,400; R3 11,450.

Above 11,350 Dow is positive and below 11,330 Dow is negative.

Nifty Future for Aug 4 - Viral Joshi

Pivot is 4380 and support is 4310.

S1 4410; S2 4380; S3 4350/4310; and R1 4450; R2 4480; R3 4500/4520;

Buy above 4450 and if it breaks 4480 then 4500 - 4520.
Short below 4410 and if it breaks 4380 then 4350 - 4310.


Daily moving averages:

5DMA 4316;
20DMA 4167;
50DMA 4348;
200DMA 5129.

Nifty Update Weekly August 4-8 - Inder Bhatia

The Indian market saw smart recovery after the initial dip and close near the day's high, crossing above 4445. Breaking the falling trendline we could test 4548-4650. On the lower side 4250-4146 will act as support zone.

Last week the Nifty closed with the gain of 2.36 percent. Nifty has held the 50 percent retracement of the rally. I had mentioned about the Nifty had stopped making lower tops and lower bottoms, and had formed a higher top and higher bottom, as shown in the chart. For the coming session, Nifty would test 4539, but I will say that Nifty slowly and steadily is heading for 4750.

I will add a graphic of the Tortoise and the Hare. The same thing is being seen in the market, between the bulls and the bears. Bears will keep dreaming of 3600-3200, and slowly the bulls will take the market toward 4750.



Weekly: I had mentioned about the bears losing control. Now 4552 will act as a resistance, and breaking the falling trend line could see more upside. Market would range 4600-4200.

Hot Calls for August 4 - Inder Bhatia

Buy GMRINFRA above 100; TGT 107>121; Stoploss 94.

Short-Term: Buy JINDALPOWER above 2150; TGT 2337>2513; Stoploss 2060.

Buy SBI above 1492 TGT 1537>1589 Stoploss 1446.

Buy PUNJLLOYD above 285; TGT 301>320; Stoploss 273.

The Light at the End of the Tunnel - III - Sainik

I have been consistently long since end of June and had to undergo some traumatic moments in the first fortnight of July. However, since I was fully convinced of the inherent market strength, I averaged on the way down and held on. That has given me good rewards as a trader in July.

For the August series, I have again, created fresh Long positions on Friday when the market opened with a downward gap. While I will “job” on all rallies/dips, I hope to keep a core Long position for the foreseeable future. I expect August to close higher than July.

In terms of scrips, I have carried forward my July longs into August, i.e. Reliance, Ranbaxy, Tata Steel, Strides Arcolabs and Bank of India. On Friday, I loaded on to Reliance Communications, because I believe that in any bullish wave just buy a good stock which gets hit harder than it deserves to.

This Claimer: As usual, I advise people NOT to follow my advice blindly. My risk-taking capabilities are far higher than many traders’. Further, not understanding my strategy in its entirety and trying to implement it could put your capital at unknown risk.

The Light at the End of the Tunnel - II - Sainik

More thoughts on the foreseeable future:

Market Psychology: Today everyone is convinced that we have only headwinds for our economy and thus would be cautious in investing. However, the market seems to be having it own mind. It’s simply because the strong hands are accumulating. Not for a moment one should confuse strong hands as FIIs; the FIIs are not always the strong hands. My research over the years has conclusively proven that FIIs increase their selling pressure when the market is bottoming out and vice versa. The invisible strong hands are the “operators”, LIC/GIC/UTI etc., or even corporate treasuries. Hence, while you will see the screeching increase on CNBC for the bearish case, the mats are likely to be on their bullish paths.

Fundamentals: While there are many external and internal threats to our economy all of these are already well known. Good corporations would plan accordingly for these threats. I have seen in the past that the strong become stronger during such times and the weak fall by the wayside. This time too, this is likely to happen. Watch companies like Hindustan Unilever, which continues to show good results in such an environment or for that matter Infosys.

This Claimer: As usual, I advise people NOT to follow my advice blindly. My risk-taking capabilities are far higher than many traders’. Further, not understanding my strategy in its entirety and trying to implement it could put your capital at unknown risk.

Also read: Light at the End of the Tunnel - I

The Light at the End of the Tunnel - I - Sainik

After a tumultuous July wherein I have been consistently bullish, here are my thoughts for the foreseeable future.

Technicals: I use Elliot in the broader sense, when I look at the markets and it has always worked very well for me. I do not care much for the C1's and C2's, X waves, etc., because I want my indicators and oscillators to be simple and, more importantly, a decision-making tool. So, by my interpretation of the Elliot structure, the market bottomed out at 3775 levels, at the height of pessimism – remember July 11 thereabouts, when every Tom, Dick, Harry and Harry’s Dick were sure India was staring at a black hole.

The first wave, which is typically very sharp, took us to around 4540 levels. Then the pessimism set in after the RBI interest rate hike, and it fell to 4150 levels. Again, every Tom bear, Dick bear and Harry bear shouted from the rooftops: I told u so, that the previous rally was a "fake".

As per Prechter, the conditions prevailing at the end of the second wave are equal or worse than that prevailing at the bottom, yet the market does not go lower than the previous bottom. See how well this fits in with the current scenario.

From a second low of 4150, the market took off. This is the third wave. One of the characteristics of the third wave is that it is generally smooth, long lasting and, slowly and surely, all encompassing, and it will ultimately cross the high of the first wave. At this point of time, we should not worry too much about the A/D line, because in the beginning part of this wave there would be many disbelievers and it would usually be led by the large caps. Also in this phase, the good news will attract bigger rallies and the bad news will get digested more easily and faster. Watch what happened on Friday. As far as my reading of Elliot is concerned I am looking for higher levels in the foreseeable future.

This Claimer: As usual, I advise people NOT to follow my advice blindly. My risk-taking capabilities are far higher than many traders’. Further, not understanding my strategy in its entirety and trying to implement it could put your capital at unknown risk.

Also read: Light at the End of the Tunnel - II