Nifty Update for June 12 - Inder Bhatia

The Indian market opened on a flat zone and saw selling pressure at higher levels and close in the red zone. For the coming session if Nifty trades below 4583 it could test 4530-4510. On the upside 4690-4730 zone would act as resistance. Stock-specific action can seen.

Nifty 3rd Wave Extension In Progress - Rakesh Chandra

In the Nifty EOD chart, Nifty is following an extended 3rd upwave. The possible target of this wave is 4800.

It will take 2-3 days more for the momentum to cool off and then a 4th down consolidation wave will progress. On the upper side, we need to be cautious and must take protection for longs. Profit booking on longs looks highly attractive although the market has not yet given a sell signal.
In the coming days volatility would increase.

The trading level is as follows:
Buy Nifty future with 4,647 stoploss buy Nifty future 4,663.89 for next day up target>4,692 >> 4,737 >>>4,765.

With stoploss 4,664 short Nifty future below 4,646.61 with lower target >4,619 >>4,573 >>>4,545.

Nifty Update for June 11- Inder Bhatia

The Indian market opened gap-up and traded positive throughout the session and closed with good gains. For the coming session trading above 4680 it is likely to test 4711-4736. On the other side trading below 4580 it will test 4510-4488.

Nifty Update for June 9 - Inder Bhatia

The Indian market opened gap-down and saw a rebound from the lower levels, and closed with handsome gains. For the coming session trading above 4570 it is likely to test 4618-4652 zones. On the lower side trading below 4490 it will test 4460-4430 zone. The RSI is still showing negative divergences.

Nifty Update for June 9 - Inder Bhatia

The Indian market opened gap-up but after opening it traded in the red zone and closed in the deep red and negative note. As last week we had alerted about negative divergences on the hourly chart, today we had seen the effect of divergences. For the coming session trading below4405 Nifty will test 4360-4323. On the upside 4510-4523 will act as as resistance. The main support is 4189 level, the uptrend line show on the charts.

Nifty Update for June 8 - Inder Bhatia

Nifty weekly chart has seen a breakout and close above the major downward-sloping line. The next resistances are 4650 with strong support 4450-4190.

DAILY: Last week Sensex gained 3.3 percent and Nifty gained 3.1 percent respectively. Sensex closed with thirteenth consecutive weekly gain. On the daily chart Nifty has formed a Gravestone Doji, which is bearish pattern at the top, indicating reversal. However, it should break Friday's low for confirmation.

The Rsi is still high and the market is in an overbought zone. On the upside 4650-4750 will act as strong resistance. There is mixed short-term signal which is still bullish on the weekly chart but stretched on the daily chart. For the coming week closing below 4559 could test 4479-4420 zone, while on the lower side closing above 4620 could test 4674-4710.

WEEKLY: The Indian market opened on a higher note tracking positive cues from global markets and closing on a positive note. On the higher side we are seeing selling pressure and Nifty has reached the end point of the band and is ready to break out or breakdown. Anything below 4540 levels we can see sell off and Nifty could test 4509-4460. On the upside 4649-4679 will act as resistance.

Stocks Update for June 8 - Inder Bhatia

Buy INFOSYS 1705 TGT 1743>1757 Stoploss 1680.

Sell HDIL below 302 TGT 295>283 Stoploss 313.

Buy SHOPPERS STOP 193 TGT 213>230 Stoploss 183.

Sell RELIANCE below 2214.50 TGT 2163>2153 Stoploss 2240.

Yen Cup and Handle Breakout - Inder Bhatia

classic Cup and Handle Breakout

Japanese Yen give n classic Cup and Handle Breakout for 108 moving head multiple reistances 102-105.Usd INR is near major support zone and over sold one can go long stoploss 46.20 tgt 48-49 and closing below46 $ it can test 45-44 zone . view attached chart ...........