Nifty Update for August 22 - Inder Bhatia

The Indian market opened on a weak note and fell sharply in the second half of the day, closing in the deep red zone. For the coming session we could see more selling pressure and the Nifty could test 4264-4200. On the other side 4331-4370 will act as resistance.

Nifty Update for August 21 - Inder Bhatia

The Indian market opened on a higher note and traded in the positive zone throughout the day. Nifty was trading positive throughout the session. We could see more upside towards 4464-4540 in the coming session. On the lower side 4380-4400 will act as support zone.

Buy HDFCBANK above 1238 TGT 1250>1267 Stop loss 1226.

The Soldier Retreats - Sainik

The bugle has been blown. It is time to pack up and retreat. The way the market has been behaving in the last few days has convinced me that, it's time to turn bearish conclusively and expect lower prices in the short as well as the medium term.

My reasons are:

1. Fundamental: The recent rise in interest rates by RBI has made credit costlier; the government has given in to populist pressure by implementing the sixth pay commission recommendations. Today it has also announced cash to the fertiliser companies, while it has also rejected the Chaturvedi Committe recommendations for the oil sector.

2. Technical: The Nifty has been trading below 9 and 20 Dema for the past few days. The volume is drying up, and biggies like Tisco , ICICI Bank, Tata Motors, Satyam Computer, Bank of India, and Reliance Industries, are just not showing any bullish signs. On the other hand the breakdown is severe.

3. Sentiment: The sentiment on the street is to buy the declines in the hope that 4700 is the forseeable target, with higher targets like 5000 also being talked about. The screeching team from CNBC is becoming more bullish in contrast to their stance when Nifty was at 3800.

This is definitely the Slope of Hope. As this fall is akin to Death by a Thousand Cuts, by the time people realize it, it will be too late.

The Soldier Retreats.

Nifty Update for August 20 - Inder Bhatia

The Indian market opened on a weak note and traded in the negative till the noon session. It saw a smart recovery in the final trading hours but closed with marginal losses. Nifty bounced from the 38 percent retracement of rally, which started from 3790 to4611 . For the coming session, we could see more upside toward 4443-4463. On the other side 4317 would as a support zone.

HOT CALL: Buy HINDCONS above 101.90 TGT 106>111 STOPLOSS 99.

Mercury Returns with Venus - Rakesh Chandra

We have a continuing bad phase for the next two weeks. Mercury left Saturn, but is now back with Venus, and next with Mars. Any upmove is a short.

Nifty Update for August 19 - Inder Bhatia

The Indian market opened on a weak note and it was lackluster day. The Nifty hovered around a small range with choppiness throughout the day. For the coming the session we could see more weakness. Below 4386 Nifty could test 4321-4264. On the other hand, above 4440, it could test 4474-4501.

Nifty Future for Week August 18-22 - Rakesh Chandra

Upwave (4-5) WUT3: 4,647;
Upwave (2-3) WUT2: 4,593;
Upwave (0-1) WUT1: 4,507;

Price is bullish above weekly pivot point 4,455 and bearish below weekly pivot point 4422.

Down wave (0-1) WLT1: 4,370;
Down wave (2-3) WLT2: 4,283;
Down wave (4-5) WLT3: 4,229.

Nifty Update for Week August 18-22 - Inder Bhatia

HOURLY: The Indian market saw a selloff from higher levels and closed in the red zone. As the Nifty cracked below 4470 levels more selloff pressure was seen. For the coming session, if Nifty goes below 4421, it could test 4396-4370 levels. However, on the other side, 4504 will act as the resistance zone.

DAILY: Last week the Nifty closed with loss of 2.18 percent and broke five weeks of momentum gain. On the daily chart, Nifty has just closed near the support trend line. Below this, we could see more selling pressure toward 4394-4298 zone. For the coming session, if Nifty closes below 4425, we could test the 4351-4311 zone. If the Nifty manages to close above 4504, we coud test 4579-4600 levels.

Weekly: Nifty has not been able to close above the channel line and faces resistances at higher levels. Breaking below 4370, more selloff could be seen, and closing above the channel line on a weekly basis, more upside cannot be ruled out.

Hot Calls for Week August 18-22 - Inder Bhatia

Sell ADLABSFILM below 515 TGT 505 > 499 Stoploss 521.

Sell HDIL below 427 TGT 419>399 Stoploss 435.

Buy STAR at 184 TGT 189 > 193 Stoploss 181.50.

Buy MPHASISBFL above 229 TGT 235>241 Stoploss 225.