Nifty Update for June 19 - Inder Bhatia

The Indian market opened on a weak note tracking global cues and ended in the red zone. After the negative inflation Nifty fell in the red terrain and saw a selloff around the sector. If we open gap-down around 4189 zone or if today's low is not broken then we could see pullback around 4370-4453. On the lower side 4220-4189 zone would act as a support zone.

nifty consolidaton wave on 5mint chart

yes ..market sold off .
bear enjoyed...
has been mentioned in weekly reprot..
below 4550 decline will be sharp.
.230 pont we gained in our weekly postiional short
cheers
here nifty chart on 5mint
all wave lebeling has clearly mentiond
now 4th cosnsioladaion wave on card..
some point upside up to 4400 lebel then5htdown wave will on card.
trade level of day
^NSEI* RC Wave* stoplls:4,343 next day_Buy above :4,369.46
next day up target>4,413>>4,482
NSEI* RC Wave* stoplls :4,369 next day_Short bellow :4,342.84next day lower target >4,300>

Nifty Update for June 18 - Inder Bhatia

The Indian market opened on gap-down but saw selling pressure in the final hours and closed in the deep red zone.

As we had mentioned about a rising wedge we had closed below the trendline but on the daily chart we are near support zone.

If we see some pullback on upside Nifty could test 4450-4473. Overall the trend is down and trading below 4370 levels we could test 4189-4079.

Nifty Update for June 17 - Inder Bhatia

The Indian market opened gap-down but bounced back in the second half and closed in the green zone. After cracking the lower trendline Nifty is still below the trendline seen in the above chart. On the upside Nifty will face resistance around 4553-4600 levels and trading below 4479 it can test 4450-4400.

Dow Jones Tonight For 16 JUNE,2009 - Viral Joshi

Pivot is 8,640 and support is 8,500.

S1 8,600; S2 8,550; S3 8,500; and R1 8,640; R2 8,700; R3 8,750.

Above 8,640 Dow is positive and below 8,600 Dow is negative.

Bank Nifty For 16 JUNE,2009 - viral Joshi

Pivot is 7100 and Support is 6850

s1 7000 s2 6950 s3 6900/6850 R1 7050 R2 7100 R3 7150/7200.

Buy Above 7000 & If Break 7050 Then 7100 - 7150 - 7200.
Short Below 7000 & If Break 6980 Then 6950 - 6900 - 6850.

Nifty Future For 16 JUNE,2009 - Viral Joshi

Pivot is 4500 and support is 4350.

S1 4480 S2 4450 S3 4420/4400 R1 4500 R2 4520 R3 4550/4580.

NIFTY FUTURE
BUY ABOVE 4450 & IF BREAK 4480 THEN 4500 - 4520 - 4550.
SHORT BELOW 4450 & IF BREAK 4420 THEN 4400 - 4380 - 4350.

Daily moving averages:

5DMA 4582;
20DMA 4427;
50DMA 3847;
200DMA 3371.

Comment:-

Gap Down Opening Today.

support for day 4350.

4450 Act As Good Support,if it break then 4420 - 4400 - 4380.

Today 4400 Try to Hold.Above 4450 buying can be seen towards 4520.

Above 4400 It lead to 4600. & if 4650 broken then only 4800 - 5000.

Below 4300 it lead to 4100 & if 4050 broken then only 3900 - 3750.

Trend Can Change to Be negative if & only If 4100 Broken. Still that
Positive Trend .

DON'T MISS TODAY TRADE:-
NIFTY FUTURE & Reliance Future.

Nifty Update for June 16 - Inder Bhatia

The Indian market opened gap-down but bounced again and saw selling pressure at higher level to close in the red zone. As we had mentioned in the weekly update about rising wedge still we had close near support zone on lower trend line if cracked with volume we can see more sell of and lower side it can test 4320-4189 zone. On the upside trading above 4555 level it can test 4580-4609 zone

Nifty Consolidation Could Start - Rakesh Chandra

I had asked to wait for 2 more days to let the momentum cool off. So the next two days a red closing has happened on cue. Now what? Has the momentum has cooled off completley (trading below 4550 only) or is there still some upside left (above 4600)?

The car can go off some more distance even if the engine stops unless brakes are applied. Newton second law of motion states that a body tries to main its current state unless an external force acts on it. Here the external force is chaos i.e. new information.

Below 4450, further downside would be on cards. On an EOD basis Nifty is forming an extracting triangle. The expanding triangle is said to be a good indicator of a reversal pattern, and is usually analyzed when a price has been increasing to see if a decrease is likely to occur - also called broadening top and broadening formation.

With stoploss 4,553 buy above 4,599.08 next week with up target >4,673 >>4,793.
With stoploss 4,599 short below 4,553.42 next week with lower target >4,480 >>4,360 >>>4,286.

Option player can sell 4800 call option on rise and collect the premium.

Cipla - Inder Bhatia

BUY CIPLA BELOW 251 TGT 260>267 STOPLOSS 245

BUY CIPLA BELOW 251 TGT 260>267 STOPLOSS 245

SELL SBI BELOW 1627 TGT 1577>1546 STOPLOSS 1669

Nifty Weekly for June 15-19 - Inder Bhatia

Weekly: In the above chart we seen that a major rally always corrects and retraces 38 percent to 61 percent before the next move but from the lower levels still we have seen just a one-way rally without any correction or retracement.

Daily: Nifty is facing strong resistance in the 4650-4700 zone. For the coming day we could see Nifty moving in the range of 4700-4487. Trading below 4487 we could see a sharp selloff and can test 4249-4189. The Rsi is still high and the market is in the overbought zone. On the upside 4633-4733 will act as a resistance zone.

The huge post election gap needs to be filled or partially filled. On the weekly chart we see a Long-legged Doji candlestick pattern. Long legged doji patterns suggest great amount of indecision on the market. This pattern is formed when the prices trade well above and below the day opening price, but then close almost at the same level as the opening price. It means that the end result is not different from the initial open despite the whole excitement and high volatility during the day. This implies a loss of sense of direction and that there is great amount of indecision in the market.

The Indian market opened on higher note tracking positive cues and saw selling pressure at higher levels to close in the red. On the hourly chart we are seen a Rising Wedge pattern that is a reversal pattern but still we have not cracked from a wedge pattern. For a valid pattern we have to close below 4507 levels. For the confirmation of the pattern we need to break the support line in a convincing fashion. For the coming session if Nifty trades below 4566 it may test 4521-4497 zone. On the upside trading above 4650 level we could see further move toward 4730-4750.