Bhoomitrader

Nifty in Range, Bullish Until 5400 Holds - AP

2011-02-23T16:11:00.004+05:30

Nifty stands poised for a breakout. With the budget on the horizon and expiry, things could get unpredictable, volatile. If 5650 is crossed, then one could expect 5950-6000. This is valid until 5400 holds.

The Future of Nifty Future - Viral Joshi

2011-01-18T15:19:00.001+05:30

Nifty Upside Target 6130 - Inder Bhatia

2010-12-28T10:45:00.006+05:30

Nifty is moving in channel with 5970 as strong support of channel and an upside resistance of 6130 If it breaks below 5970 we could test lower side 5880-5850.

Nifty Could Test 4900, if 5550 Not Broken - AP

2010-09-05T22:00:00.004+05:30

The Nifty is at the top of the channel. If it breaks 5550 and 5625, we are then looking at a new trend and the targets would be higher. However, the bias is toward the lower end of the channel. If the above channel's upper trendline is now broken, then within a few weeks Nifty could test 4900 levels soon.

Jan 2008 Top Not Breached - AP

2010-08-20T08:17:00.002+05:30

Despite all the visible strength and the fact that BTST traders were not allowed to sell the stocks purchased the previous day, the intermediate top of 5545, which was reached in January 2008, was not crossed.

Tata Steel Foretells a Bearish Future

2010-08-17T10:51:00.003+05:30

Around June 11, 2010, it was noticed that Tata Steel was indicating that the future for metals was going to be very weak. A head and shoulders pattern on a descending neckline provided all the clues that something negative was in place for iron ore companies. At the time, it was the 40 percent mining tax that Australia slapped on mining companies owning mines in Australia, a move that was softened later by the new Australian Prime Minister.

Today when we see Tata Steel, it is clear that the right shoulder has been formed, unless the high around 550 is taken out again. Yet nothing is safe for Tata Steel unless 675 is knocked out which would make the right shoulder higher than the left and thus negate the H&S pattern.

And Why the Nifty May Not Correct - GV

2010-08-16T13:31:00.017+05:30

In my earlier post [Nifty Looks to Undergo Correction], I cited host of issues why the Nifty is looking weak - from conventional technical pointers - while I suggested a possible medium-term bearishness of sharp and sustained nature. Now I am presenting an effort to consider whether the turnaround is anywhere in sight.

In May, FIIs sold a cool Rs 12000 crore while DIIs bought a net Rs 6400 crore. Since then FIIs have been buying Rs 7700+, Rs 8300+ and in August Rs 4000 crore [on date of writing] against DII selling of Rs 4600+, Rs 6300+ and Rs 2300+ crore in August [on date of writing]. Obviously it is the FIIs who have been holding the index or certain segments of the market, or even certain stocks to their liking. This in spite of a 'possible distribution' by the Fourth Quater, as explained in earlier post.

All the reasons given in the earlier post - rising channel, index near the upper band, negative divergences in important oscillators cannot be facts that are tracked only by individual traders, but also by the FIIs.

But then simple common sense would demand that the FIIs should have been looking to hedge their positions in futures if they are getting to dig in to the last nickels from their bags of money. This in turn would make them want to hedge their positions - especially considering that one quarter of the market - the DIIs - have consistantly been selling which is a known factor to everybody.

So, do we see any sizeable hedging in futures? Actually we haven't seen any at all - both in index futures and stock futures unless they have done this in options.

In the index futures FIIs have net sold very nominal Rs 469 crore and in stock futures they have net sold another smallish Rs 432 crore in this contract month to date. Though in the previous contract month they had net sold Rs 2700+ crore and Rs 1000+ crore, while they had net bought an equivalent value in the June contract month - does not say much.

While their hedging in futures is rather thin, in recent days since 9th of this month, the OI in certain strikes - like from 5300 to 5500 - has gone up by about 44 lakh points in index puts, while it has gone up by only 10lakh points in index calls of strikes from 5400 to 5700. In these days of pessimism, I cannot think of retail investors writing put options and if the FIIs have a clear gameplan then they can very well do the writing - neither margin nor uncertainity would be a problem nor fear psychosis.

Secondly, the maximum pain theory workings reveal that the outflow for the writers shoots up sharply when the index goes below 5400 and not so much when it raises above 5500. Roughly said, a study of option trades suggests the Nifty is quite possibly biased on the longs.

To illustrate, as on closing of 13th the outflows to writers for current OI, if nifty were to close at various strikes would be as below:

5100 - 838
5200 - 506
5300 - 264
5400 - 154
5500 - 191
5600 - 354
5700 - 611

The lowest at 5400 is a misleading thing as it has remained so since beginning of the contract. It is possibly so that quite probably while somebody is buying calls, they themselves could be writing the puts, or vice versa, provided they are market trend deciders.

Because of this inference, coupled with the fact that I do not see much of futures selling by the FIIs, I am inclined to believe that Nifty could test the upper band of the rising channel and possibly break above it. If it so materialises then the bear trap and short covering can take it longer and farther in to the near term. We might even see a blow-off rally kind of move.

Distribution is best done in euphoria and accumulation is best done chaos.

The FII fund flow chart - black line for their derivative trades and white for their equity:

The indicators in the middle and bottom inner windows are results of my efforts to convert trades as indicators to issue buy and sell signals. A cursory look would reveal that the indicators have been quite decent even in these days of a rangebound trading. And notably there is no sell signal currently.

For a long time, I could not satisfy EW Neowave rules that I know of with my earlier counts. Recently I changed the count with [II] ending at last May's highs and [iv] as a Double combination ending at 4786 on May 25, with the 5th and final impulse of the larger 'A' in progress and many of my earlier problems seem to have been solved.

If we are in an impulse move from 4786 and it does so look then we could be in the (iv) sub-wave with (iii) only slightly larger than (i) and we might have ended a double combination at 5372 on 12th. If all of this is correct then 5625 and 5780 look quite in the realm of possibility in the near term.

Of course now the usual rider: In the days of mind boggling volumes in Nifty options and futures it may not be an issue for the funds to sharply increase their hedging levels in a very short time.

Nifty Looks to Undergo a Correction - GV

2010-08-15T13:31:00.038+05:30

To many, the Nifty looks poised to correct. The hourly charts shows:

• A rising channel, which indicates a breakout to the downside.
• Bearish divergencies on RSI & MACD.

On the economic front, we see a falling IIP and steady inflation and RBI trying to drain out cash and possibly a rise in the cost of funds.

The daily chart too shows:
• A rising channel.
• The index painfully close to the upper band.
• Negative divergences in both RSI and MACD.

From a near term perspective these are not very worrisome. Technical analysis (TA) always gives two 'effects' to a single 'cause' - surely one of them is bound to materialise. If negative divergences suggest weakening of trend, there is another school of thought that says “in to a strong trend, negative divergences could be suggesting continuation of the trend”. Even in this case, the trend has been continuing for a while now despite so-called bearish divergences, sky rocketing inflation, anticipated RBI moves, etc.

The Indian stock markets have four quarters at play: retail, FIIs, DIIs, and the fourth unseen quarter – a much maligned group responsible for all our ills; a group never seen but only talked about but which is strong enough to do something unlikely on a given day. What worries me about the medium term health of the market is the signs I get from deep within the markets, which point to the activities of this fourth quarter.

If the Nifty could rally intraday on the back of a sharp fall in US (thus, poor sentiments) on the 12th, then there must be the fourth quarter playing; especially since on the day, FIIs net-bought a mere Rs 218 crore while DIIs net-sold a huge Rs 656 crore.

I have a market breadth study that reads as below:

Market Breadth as a rule slopes down. For example, my 'proprietory' adjusted breadth gave a reading of +0.37 on December 13, 2001 when the index was in 1100's, and now reads a minus 67 - yes, minus 67.3551 - with the index in 5400’s.

When the Nifty was in the trending phases the indicator gave very early and clear signals and most of the time it hit the bull's eye. But in consolidation phases, it does not say much except showing a slow - a painfully slow - message of accumulation or distribution.

However, reading this can be very tricky, made so by the natural downward bias of the indicator. Essentially one had to go by the slope of the indicator over a reasonably long period. So I created a histogram for easy reading of divergences.

From Nov-09 - Mar-10 there was a positive divergence suggesting accumulation. From Jan-10 to 'now' there is a negative divergence.

The above chart tells me that the larger market has been "undergoing shifting of stocks" that rallied during this period, which is nothing new. Except in a foolishly bullish market not all sectors rally - they only take turns; however, the number of such 'rallying-phase stocks' have been dwindling. Compare this with the period from Jun-July last year to Jan 2010. The indicator stayed sort of horizontal. The histogram / indicator for the period till June-July 2009 to be ignored as that was the last phase of the secular rally. Now we are considering a phase that has been mildly rallying or sort of consolidating. In this phase, the breadth has been increasingly weakening suggesting "possible distribution" sectorwise.

The depths of ocean a depths of the markets are only for the cunning and the gullible - the balance 2 quarters of the circle leaving the FIIs - the D&F variety. Thus, the Nifty has to fall some time - after all the price travels only in waves. And it has fallen before also and so it will in future as well. What is worrying this time around is that if the 4th quarter had been distributing then the fall could be more pronounced and the recovery may not be swift as before - 'V' shaped things may not happen - after all the 4th quarter would require some time to take position again. In other words, the fall not only could be deeper but recovery could also be slow after the inevitable volatile periods.

To be exact, my worry is not that it might correct or the timing of it but as and when it does, it could be a deep one and recovery could be slow.

Caveat: Prior to hitting 6000+, in mid 2007 onwards, my MB indicator was sharply sloping downwards - possibly caused more by heavy tranches of selling rather than gradual and consistant weakening of breadth (as could be the case now) because there was no negative divergence in the histogram then. In other words the indicator gave one wrong sell signal while the Nifty was still climbing and continued to do so but never showed any negative (wrong) divergence. The indicator did catch up with the index but that was a clear 700 points later. If I remember correctly, the DIIs were selling prior to May 2007 as the FIIs were getting deeper into their frenzied buying while commencing that rise of 5000 to 6000 on the index. And later on, the DIIs simply could not take the heat of 'not being in the party' and joined late and were to regret it deeply in early 2008. For all I know, something like that can always happen.

Further Caution Advised - AP

2010-08-05T16:09:00.001+05:30

This is an inset of an old chart dated February 2008, when the bear market gained full steam. It accelerated with an Island reversal on 6th February. The island reversal gap is between 18312 and 18447. The high today is 18295.4. I have a feeling this rally can end in this zone. Be cautious untill Sensex closes above 18450.

The second image is a bigger picture of that same island reversal and what happened thereafter.
It should be noted that Reliance - the market leader is very weak! Infosys has almost made a double top today at an extremely crucial level.

Nifty - Flag and Pole?

2010-07-07T12:13:00.004+05:30

A thought had crossed my mind when we saw the rise from 4960 to 5360 - is this a flag and pole? The rise looked like an impulsive third wave [3rd of III], so it follows that the slow downard movement had to be a corrective. It is indeed behaving very much like a 4th wave in progress. However, if this is a flag-and-pole then it is saying that the target for Nifty is 5600. Only a break of the upper trendline of the down channel would make things certain. Until then it would be trading within the channel. The max downside for the short term is 5100, where the wave 1 [1 of III] ended.

Hindustan Oil Exploration - Bullish Trend

2010-07-06T22:30:00.005+05:30

Today, Hindustan Oil Exploration (HINDOILEXP) caught my attention. The stock is in a bullish trend. Some significant technical formations are in view. Look at the up (green) bars: The volumes on bullish bars pierces through the 15-day moving average of the volume. On the same days, the price range are expansive in nature. On the down (red) days, the volume is restricted within the 15-day moving average. On the same bars, the price range is contracting. The trendline clearly shows an upwardly moving.

Hind Oil Exploration is showing that huge purchases are being made while the sales are being done by weak hands. Each dip is being strongly supported. Thus there is tremendous buying interest. I think the stock would continue moving toward its previous highs of 262 and 282 over the next few weeks.

RNRL - Symmetrical Triangle Failure

2010-07-05T18:36:00.003+05:30

Well, who am I to battle the management and they can do some real dodgy stuff. Like have board meetings on Sunday and come up with such adverse decisions that can shave off 30 percent of a stock's value in a day.

RNRL shareholders would get 1 Reliance Power share for every 4 shares held, thus valuing the share at Rs 43. So RNRL falls and the symmetrical triangle fails. Wave 4 also penetrates Wave 1 negating any impulsive intention of RNRL. So, what was looking at as Wave 1 has now become a corrective, and the expectation is that RNRL would move in a consolidated B ranging between 51 and 45.

RNRL - Symmetrical Triangle Break False or Real?

2010-07-04T15:40:00.002+05:30

I am asking myself this question. Symmetrical triangles take a long time to complete and are replete with false breakouts. Friday was a late selloff in RNRL, with rumors about a 4 for 1 merger with RPL, causing the stock to close at Rs 63. As this is being posted, a meeting of both boards is in progress to consider the merger and decide the ratio.

So, will it be that Monday this fall would a proven false breakout or would it be a failure of a bullish symmetrical triangle. I have seldom seen stocks fail in their 4th waves. It is usually in the 3rd wave of the 5ths that stocks fail to reach their full potential.

DLF - Falling Wedge Breakout

2010-07-01T11:02:00.004+05:30

DLF is showing a falling wedge breakout and a Bulkowski ugly bottom pattern. This indicates a target of 334 if the breakout is sustained. This view gets negated if the price falls back within the wedge. There is an even larger falling wedge that targets 418 but we can analyze that later.

RNRL in Symmetrical 4th Wave Triangle

2010-07-01T08:18:00.004+05:30

Here's a simple explanation for a bullish view on RNRL. I have used Elliot Wave Analysis. Currently RNRL is in the 4th wave corrective and a symmetrical triangle. Once it breaks out it is likely to touch the previous significant top of 72. Once it crosses 72, several new targets open. In any case 61 is a strong support for RNRL. We see that the 3rd wave is almost equal to the first, which means that the 5th wave would be explosive reaching targets of even 95 and above.

WeeklyUpdates For 17May10-----InderBhatia

2010-05-16T20:40:00.001+05:30

SELL BANKOFINIDA BELOW 329 TGT 310>297STOPLOSS338

BUY SUNPHARMAABOVE 1603 TGT 1635 >1659 STOPLOSS 1586

Nifty weekly support around lower end of channel above chart is invert nifty weekly chart

The Indian market opened on weak note and saw selling pressure on second half session close with red zone . On the hourly chart nifty hade made Double top around 5226 zone or we can say M pattern and breakout below 5096 it likely to test 4966 the breakout range as shown above chart . On the other side 5126 zone will act resistances for the day .
Last week sensex ended with net gain by 1.3% and nifty closed positive by 1.5%,On Monday market was up by more than 500 point and nifty 170 point around 5200 zone but every time nifty went near 5200 zone but not able to sustain and close above 5226 level finally on Friday we saw sharp sell off from higher level . On daily chart Nifty retrace 61% pullback around 5200 zone and came down nifty is forming lower top –lower bottom formation indicates for more down side ,If nifty trade below last week low 4986 it likely to test 4860 zone as shown on weekly chart.On the lower side minor support around 4900-4860 zone , For any upside nifty has breakout from the channel

MID LEVEL BREAKOUT ON WAY - VIRAL JOSHI

2010-03-31T08:02:00.002+05:30

5350 DONE..

NOW NEXT MOVE IN NIFTY ONLY ABOVE 5365 (CLOSING BASE ) TOWARDS 5450 - 5500.

5450 - 5500 NEED TO SUSTAIN FOR 1 WEEK TO LOAD UP TOWARDS 5800 LEVEL.

IN SHORT, COMING 2 MONTH APRIL & MAY LOOKING GOOD FOR MOVEMENT.

EVEN AS PER ASTROLOGY , AFTER 18 APRIL,2010 BIG WAVE MOVEMENT WILL START IN MARKET & IT WILL SUSTAIN TILL 22 MONTHS, JAI HO BABA KI

Nifty Future 27 Jan,2010 - Viral Joshi

2010-01-27T08:47:00.002+05:30

" As Told U In Last Post,

long done @ 4800 to 5300 done booked it..

now nifty can move up above 5335 towards 5500

as soon as it below 5335 it under selling pressure."

and it done .. 5300 to 4900 nifty .. hope u all enjoy perfection.

now from here buy nifty future for long with sl 4820 for tg 5500 - 5800.

Nifty Future For 08 Jan,2010 - Viral Joshi

2010-01-08T12:25:00.003+05:30

5250 as been done..5300 also

5250 and 5181 level as to hold

now nifty can move up above 5335 towards 5500

as soon as it below 5335 it under selling pressure.

Nifty Future For 30 OCT,2009 - Viral Joshi

2009-10-30T09:22:00.000+05:30

Nifty Future For 30 OCT,2009 - Viral Joshi

Pivot is 4777 and support is 4777.

S1 4820 S2 4810 S3 4800 R1 4835 R2 4850 R3 4880/4920

NIFTY FUTURE
BUY ABOVE 4820 & IF BREAK 4835 THEN 4850 - 4900 - 4950.
SHORT BELOW 4810 & IF BREAK 4800 THEN 4780 - 4765 - 4750 .

Daily moving averages:

5DMA 4878;
20DMA 5006;
50DMA 4842;
200DMA 3913.

www.wishmasterfinancialservice.com

Bank Nifty For 30 OCT,2009 - viral Joshi

Pivot is 8450 and Support is 8400.

s1 8520 s2 8500 s3 8480/8450 R1 8580 R2 8600 R3 8650/8700.

Buy Above 8500 & If Break 8550 Then 9600 - 9650 - 9700.
Short Below 8480 & If Break 8450 Then 8435 - 8420 - 8400.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 30 OCT,2009 - Viral Joshi

Pivot is 9,950 and support is 9,900.

S1 9,950; S2 9,935; S3 9,920; and R1 9,980; R2 10,050; R3 10,100/10,150.

Above 9,980 Dow is positive and below 9,950 Dow is negative.

www.wishmasterfinancialservice.com

COMMENTS ::

Today Gap up opening today.( 40 - 55 POINTS )

nifty future try to hold 4800 level today and break 4900 level.

now, as soon as nifty future holding 4750 level bull is safe.

According to last post, 5150 to 4750 achived.
Bottom formation done in nifty,now we can see 1200 point upside

If Nf Hold 4800 Level for 5 Trading Days Then TG 4950 - 5050 - 5150.

once 5150 broken then to 5200 > 5250 > 5400 > 5600 >5800. i.e 5150 > 5800.

5150 play important Role for next levels .

Hope You all enjoying my calls Perfection..

Enjoy

Nifty Future For 15 OCT,2009 - Viral Joshi

2009-10-15T09:06:00.000+05:30

Nifty Future For 15 OCT,2009 - Viral Joshi

Pivot is 5100 and support is 5040.

S1 5150 S2 5135 S3 5120/5100 R1 5165 R2 5180 R3 5200/5250

NIFTY FUTURE
BUY ABOVE 5165 & IF BREAK 5180 THEN 5200 - 5220 - 5250.
SHORT BELOW 5150 & IF BREAK 5120 THEN 5100 - 5080 - 5050 .

Daily moving averages:

5DMA 5021;
20DMA 4984;
50DMA 4761;
200DMA 3813.

www.wishmasterfinancialservice.com

Bank Nifty For 15 OCT,2009 - viral Joshi

Pivot is 9100 and Support is 9050.

s1 9150 s2 9135 s3 9120/9100 R1 9180 R2 9200 R3 9220/9250.

Buy Above 9180 & If Break 9200 Then 9220 - 9250 - 9300.
Short Below 9150 & If Break 9135 Then 9120 - 9100 - 9050.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 15 OCT,2009 - Viral Joshi

Pivot is 9,950 and support is 9,900.

S1 10,000; S2 9,980; S3 9,950; and R1 10,025; R2 10,050; R3 10,100/10,150.

Above 10,025 Dow is positive and below 10,000 Dow is negative.

www.wishmasterfinancialservice.com

COMMENTS ::

first of all cong.. dow jones cross 10,000 and nf near our TG 5200.

Today Gap up opening today.( 35 - 45 POINTS )

nifty future try to hold 5150 level today and break 5200 level.

now, as soon as nifty future holding 5100 level bull is safe.

According to last post, 4935 to 5200 achived.

Now Next, If Nf Hold 5150 Level for 5 Trading Days Then TG 5250 - 5300 - 5400.

Else below 5150 fall to 5100 < 5040 < 5000 < 4980 < 4920. i.e 5150 < 4920.

5150 play important Role for next levels .

Hope You all enjoying my calls Perfection..

and in adv. Wishing You all

Happy Diwali & Happy New Year...

Enjoy

Nifty Future For 17 SEP,2009 - Viral Joshi

2009-09-17T08:57:00.000+05:30

Nifty Future For 17 SEP,2009 - Viral Joshi

Pivot is 4945 and support is 4900.

S1 4965 S2 4950 S3 4935/4920 R1 4980 R2 5010 R3 5035/5050

NIFTY FUTURE
BUY ABOVE 4980 & IF BREAK 5010 THEN 5035 - 5050 - 5080.
SHORT BELOW 4965 & IF BREAK 4950 THEN 4935 - 4920 - 4900.

Daily moving averages:

5DMA 4862;
20DMA 4713;
50DMA 4551;
200DMA 3633.

www.wishmasterfinancialservice.com

Bank Nifty For 17 SEP,2009 - viral Joshi

Pivot is 8320 and Support is 8200.

s1 8350 s2 8320 s3 8300/8280 R1 8380 R2 8400 R3 8450/8500.

Buy Above 8380 & If Break 8400 Then 8420 - 8450 - 8500.
Short Below 8350 & If Break 8320 Then 8300 - 8280 - 8250.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 17 SEP,2009 - Viral Joshi

Pivot is 9,775 and support is 9,700.

S1 9,775; S2 9,750; S3 9,720; and R1 9,800; R2 9,820; R3 9,850/9,880.

Above 9,800 Dow is positive and below 9,775 Dow is negative.

www.wishmasterfinancialservice.com

COMMENTS ::

Gap up opening today.

nifty future try to hold 4975 level today and break 5000 level.

now, as soon as nifty future holding 4780 level bull is safe.

According to last post, 4880 to 4935 achived. now 5000 - 5100 - 5200 only left.

To achive 5200 level, nifty as to hold 4935 level for 5 trading days.

Else below 4935 fall to 4900 < 4880 < 4850 < 4800 < 4780. i.e 4935 to 4780.

Nifty Future For 15 SEP,2009 - Viral Joshi

2009-09-15T08:11:00.002+05:30

Pivot is 4805 and support is 4765.

S1 4800 S2 4790 S3 4780/4765 R1 4820 R2 4840 R3 4860/4880

NIFTY FUTURE
BUY ABOVE 4820 & IF BREAK 4840 THEN 4860 - 4880 - 4900.
SHORT BELOW 4800 & IF BREAK 4790 THEN 4780 - 4765- 4740.

Daily moving averages:

5DMA 4815;
20DMA 4663;
50DMA 4521;
200DMA 3610.

Bank Nifty For 15 SEP,2009 - viral Joshi

Pivot is 7980 and Support is 7800.

s1 7980 s2 7950 s3 7915/7880 R1 8000 R2 8020 R3 8050/8100.

Buy Above 7990 & If Break 8000 Then 8020 - 8050 - 8100.
Short Below 7980 & If Break 7950 Then 7915 - 7900 - 7880.

Dow Jones Tonight For 15 SEP,2009 - Viral Joshi

Pivot is 9,605 and support is 9,520.

S1 9,600; S2 9,580; S3 9,550; and R1 9,630; R2 9,650; R3 9,680/9,700.

Above 9,630 Dow is positive and below 9,600 Dow is negative.

www.wishmasterfinancialservice.com

COMMENTS ::

Gap up opening.

now, as soon as nifty future holding 4780 level bull is safe.

once we break 4850 level then 4920 can be seen.

According to last post,we see all 3 nifty,dow jones & bank nifty act perfect bounce from support level we said.
even our tg achived almost 4645 to 4889.

Breack out of 4935 only lead nifty towards 5000 - 5100 - 5200 levels.

Else below 4780 it lead to 4700 - 4620.

Nifty Future For 04 SEP,2009 - Viral Joshi

2009-09-04T09:31:00.000+05:30

Pivot is 4615 and support is 4550.

S1 4600 S2 4580 S3 4550 R1 4615 R2 4645 R3 4665/4685

NIFTY FUTURE
BUY ABOVE 4600 & IF BREAK 4615 THEN 4645 - 4665 - 4685.
SHORT BELOW 4580 & IF BREAK 4565 THEN 4550 - 4535- 4510.

Daily moving averages:

5DMA 4644;
20DMA 4557;
50DMA 4459;
200DMA 3544.

Bank Nifty For 04 SEP,2009 - viral Joshi

Pivot is 7375 and Support is 7250.

s1 7350 s2 7335 s3 7300 R1 7375 R2 7400 R3 7425/7450.

Buy Above 7375 & If Break 7400 Then 7425 - 7450 - 7500.
Short Below 7350 & If Break 7335 Then 7300 - 7280 - 7250.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 04 SEP,2009 - Viral Joshi

Pivot is 9,310 and support is 9,200.

S1 9,335; S2 9,310; S3 9,275; and R1 9,350; R2 9,380; R3 9,420/9,450.

Above 9,350 Dow is positive and below 9,335 Dow is negative.

www.wishmasterfinancialservice.com

COMMENTS ::

gap up opening.

nifty try to hold 4580 level and IF break 4620 level THEN 4645 - 4665.

nifty having big support @ 4550,if broken then 4400.

bank nifty having big support @ 7250. if broken then 7000.

dow jones having big support @ 9250.if broken then 9000.

so all three are close to support line,if hold then recovery can be seen.

above 4645 nf tg 4665 - 4680 - 4700 - 4735 - 4760 - 4800 - 4825 - 4900.

NiftyUpdates-ForSep09-----InderBhatia

2009-09-02T21:15:00.000+05:30

The Indian market opened on gap down on weak global cues and test lower support 4583 zone and recover from lower level close with red zones . For coming trading if nifty trade below 4583 zones it likely to test 4550-4510 zone .On other side 4660-4680 will act as stiff resistances zones.

NiftyUpdates For 2Sep09-----InderBhatia

2009-09-01T20:09:00.001+05:30

The Indian market opened on significantly higher along with other global market but not able to sustain at higher level and saw sharp sell off close with deep red zone . Another attempt bulls made to cross 4750 but fail and saw strong attack from bears breaking the support 4620 but managed to close above 4620level.For coming trading id nifty trade below 4600 it likely to test 4550-4520 zones .On the other side 4660-4693 zone will act as resistances for the day. Key level to watch 4583 for bulls below that level bear will have upper hand .

Rising Wedge on DowJones be alert ..............

NiftyUpdates For 01Sep09---InderBhatia

2009-08-31T21:56:00.000+05:30

The Indian market opened on gap down on weak global cues and traded negative zone through out the session . For coming session 4633 will act as support zones if nifty trade below 4630 it likely to test 4573-4550 zones .On the upside if nifty trade above 4709 it likely to test 4723-4740 zones .

Nifty Future For 28 AUG,2009 - Viral Joshi

2009-08-28T08:44:00.000+05:30

Pivot is 4680 and support is 4600.

S1 4680 S2 4660 S3 4650/4635 R1 4720 R2 4735 R3 4750/4785

NIFTY FUTURE
BUY ABOVE 4700 & IF BREAK 4720 THEN 4735 - 4750 - 4785.
SHORT BELOW 4695 & IF BREAK 4680 THEN 4660 - 4650- 4635.

Daily moving averages:

5DMA 4640;
20DMA 4562;
50DMA 4421;
200DMA 3502.

Bank Nifty For 28 AUG,2009 - viral Joshi

Pivot is 7425 and Support is 7300.

s1 7400 s2 7380 s3 7350 R1 7425 R2 7480 R3 7500/7550.

Buy Above 7425 & If Break 7480 Then 7500 - 7550 - 7600.
Short Below 7400 & If Break 7380 Then 7350 - 7335 - 7300.

Dow Jones Tonight For 28 AUG,2009 - Viral Joshi

Pivot is 9,565 and support is 9,400.

S1 9,565; S2 9,550; S3 9,535; and R1 9,600; R2 9,635; R3 9,650/9,680.

Above 9,600 Dow is positive and below 9,575 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap Up Opening Today. ( 10 - 20 points )

support for day 4600.

As said , " If Nifty Hold 4350 level and break 4535 & 4660 level then 4800 target expecting within week".
check out nf both level done & 4800 on way,enjoy the perfection.

TODAY NIFTY FUTURE TRY TO HOLD 4700 & 4680 LEVEL.

Break out of 4760 level open gat for 5100 level.( 4760 break then need to hold for 5 days to achive 5100 level )
In between levels are 4760 > 4800 > 4865 > 4935 > 5020.

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 .

Nifty Future For 27 AUG,2009 - Viral Joshi

2009-08-27T08:49:00.000+05:30

Nifty Future For 27 AUG,2009 - Viral Joshi

Pivot is 4680 and support is 4600.

S1 4635 S2 4600 S3 4580/4565 R1 4665 R2 4685 R3 4700/4725

NIFTY FUTURE
BUY ABOVE 4685 & IF BREAK 4700 THEN 4720 - 4735 - 4750.
SHORT BELOW 4660 & IF BREAK 4650 THEN 4635 - 4620- 4600.

Daily moving averages:

5DMA 4593;
20DMA 4556;
50DMA 4414;
200DMA 3492.

Bank Nifty For 27 AUG,2009 - viral Joshi

Pivot is 7425 and Support is 7300.

s1 7400 s2 7380 s3 7350 R1 7425 R2 7480 R3 7500/7550.

Buy Above 7425 & If Break 7480 Then 7500 - 7550 - 7600.
Short Below 7400 & If Break 7380 Then 7350 - 7335 - 7300.

Dow Jones Tonight For 27 AUG,2009 - Viral Joshi

Pivot is 9,535 and support is 9,400.

S1 9,535; S2 9,500; S3 9,450; and R1 9,550; R2 9,585; R3 9,600/9,630.

Above 9,550 Dow is positive and below 9,535 Dow is negative.

www.wishmasterfinancialservice.com

Nifty Future For 26 AUG,2009 - Viral Joshi

2009-08-26T08:24:00.001+05:30

Pivot is 4650 and support is 4550.

S1 4635 S2 4600 S3 4580/4565 R1 4665 R2 4685 R3 4700/4725

NIFTY FUTURE
BUY ABOVE 4650 & IF BREAK 4665 THEN 4680 - 4700 - 4735.
SHORT BELOW 4650 & IF BREAK 4635 THEN 4600 - 4580 - 4550.

Daily moving averages:

5DMA 4536;
20DMA 4548;
50DMA 4411;
200DMA 3481.

Bank Nifty For 26 AUG,2009 - viral Joshi

Pivot is 7425 and Support is 7300.

s1 7400 s2 7380 s3 7350 R1 7425 R2 7480 R3 7500/7550.

Buy Above 7425 & If Break 7480 Then 7500 - 7550 - 7600.
Short Below 7400 & If Break 7380 Then 7350 - 7335 - 7300.

Dow Jones Tonight For 26 AUG,2009 - Viral Joshi

Pivot is 9,555 and support is 9,400.

S1 9,530; S2 9,500; S3 9,480; and R1 9,555; R2 9,585; R3 9,600/9,630.

Above 9,555 Dow is positive and below 9,530 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap Up Opening Today.

support for day 4550.

If Nifty Hold 4350 level and break 4535 & 4660 level then 4800 target expecting within week.
4535 broken, now 4660 level also broken just need to sustain for 4800 level.

TODAY NIFTY FUTURE TRY TO HOLD 4635 LEVEL.

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 .

Nifty Future For 25 AUG,2009 - Viral Joshi

2009-08-25T08:25:00.002+05:30

Nifty Future For 25 AUG,2009 - Viral Joshi

Pivot is 4635 and support is 4500.

S1 4635 S2 4600 S3 4580/4565 R1 4665 R2 4685 R3 4700/4725

NIFTY FUTURE
BUY ABOVE 4635 & IF BREAK 4665 THEN 4680 - 4700 - 4735.
SHORT BELOW 4630 & IF BREAK 4620 THEN 4600 - 4580 - 4550.

Daily moving averages:

5DMA 4496;
20DMA 4543;
50DMA 4408;
200DMA 3471.

Bank Nifty For 25 AUG,2009 - viral Joshi

Pivot is 7500 and Support is 7300.

s1 7500 s2 7450 s3 7400 R1 7535 R2 7580 R3 7600/7650.

Buy Above 7520 & If Break 7580 Then 7600 - 7650 - 7700.
Short Below 7480 & If Break 7450 Then 7400 - 7350 - 7300.

Dow Jones Tonight For 25 AUG,2009 - Viral Joshi

Pivot is 9,520 and support is 9,350.

S1 9,500; S2 9,450; S3 9,400; and R1 9,520; R2 9,550; R3 9,585/9,600.

Above 9,520 Dow is positive and below 9,500 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap Down Opening Today.(25 - 35 points )

support for day 4500.

on last post i say, "If Nifty Hold 4350 level and break 4535 & 4660 level then 4800 target expecting within week."
4535 broken, now only 4660 level needed to break and sustain for 4800 level.

TODAY NIFTY FUTURE TRY TO HOLD 4580 LEVEL AND BREAK 4680 LEVEL.

If Nifty fail to sustain 4580 level then 4500 - 4450 - 4400 can be seen.

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 .

WeeklyUpdatesFor24Aug09------InderBhatia

2009-08-23T14:06:00.001+05:30

The Indian market opened on gap down but saw sharp rebounded from lower level and close with handsome gains. On hourly chart nifty had seen breakout from Ascending triangle we can see target 4620-4648 zones .on the lower side 4464-4423 level act as support for the day .

BUY VIJAYABANK 43.22TGT 47>49 STOPLOSS 41.50

24augBUY ASTRAMICROWAVE 77 TGT 85>91 STOPLOSS 71

we had mention any major rally correct before next move still we had seen just 33%-3978 level and 38%around 3885 and 50%is 3634 zones as shown in above chart .

Last week sensex down by 1.1% and nifty 1.% respectively, Market saw bounces from the lower level and holding 4350 zone. As last week we had mention nifty is trading in range 3980-4700 and in that band 4350-4700 zone .On daily chart nifty had touch three time 4350level support zone . If this time nifty comes to test again 4350 it will break 4350 and we can test lower level any support or resistances hold 2-3 time particular level but 4th time that zone become weaken and we can see breakout or breakdown same we had seen at march nifty takeout 3200levels . However on daily chart we had plot macd higher time frame that seen cross over indicating sell signal same macd had given upside crossover on 2/2/09 . Infact on weekly chart nifty and sensex are approaching the 61.8% Fibonacci retracement levels of the entire downturn that zones will act as strong resistances .Along with that negative divergences are reflecting on daily and weekly chart that negative sign .For this week key level 4473

Nifty Future For 20 AUG,2009 - Viral Joshi

2009-08-20T09:18:00.002+05:30

Nifty Future For 20 AUG,2009 - Viral Joshi

Pivot is 4400 and support is 4350.

S1 4400 S2 4380 S3 4350 R1 4435 R2 4480 R3 4500/4535

NIFTY FUTURE
BUY ABOVE 4435 & IF BREAK 4465 THEN 4480 - 4500 - 4535.
SHORT BELOW 4430 & IF BREAK 4420 THEN 4400 - 4380 - 4300.

Daily moving averages:

5DMA 4485;
20DMA 4545;
50DMA 4412;
200DMA 3449.

Bank Nifty For 20 AUG,2009 - viral Joshi

Pivot is 7100 and Support is 7000.

s1 7100 s2 7050 s3 7000 R1 7150 R2 7200 R3 7250/7300.

Buy Above 7150 & If Break 7200 Then 7250 - 7300 - 7350.
Short Below 7125& If Break 7100 Then 7080 - 7050 - 7000.

Dow Jones Tonight For 20 AUG,2009 - Viral Joshi

Pivot is 9,270 and support is 9,150.

S1 9,270; S2 9,250; S3 9,200; and R1 9,285; R2 9,300; R3 9,350/9,400.

Above 9,285 Dow is positive and below 9,270 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap Up Opening Today.

support for day 4400.

4435 & 4485 important levels need to break.

If Nifty Hold 4350 level and break 4535 & 4660 level then 4800 target expecting within week.

Above 4535 direct 4580 can be seen & if close above it then big move expecting.

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 .

Nifty Future For 19 AUG,2009 - Viral Joshi

2009-08-19T08:48:00.000+05:30

Nifty Future For 19 AUG,2009 - Viral Joshi

Pivot is 4465 and support is 4350.

S1 4435 S2 4420 S3 4400/4380 R1 4465 R2 4480 R3 4500/4535

NIFTY FUTURE
BUY ABOVE 4435 & IF BREAK 4465 THEN 4480 - 4500 - 4535.
SHORT BELOW 4430 & IF BREAK 4420 THEN 4400 - 4380 - 4300.

Daily moving averages:

5DMA 4498;
20DMA 4545;
50DMA 4416;
200DMA 3443.

Bank Nifty For 19 AUG,2009 - viral Joshi

Pivot is 7225 and Support is 7000.

s1 7200 s2 7150 s3 7100 R1 7225 R2 7250 R3 7285/7350.

Buy Above 7225 & If Break 7250 Then 7300 - 7350 - 7400.
Short Below 7200 & If Break 7180 Then 7150 - 7100 - 7050.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 19 AUG,2009 - Viral Joshi

Pivot is 9,225 and support is 9,100.

S1 9,200; S2 9,180; S3 9,150; and R1 9,225; R2 9,250; R3 9,280/9,300.

Above 9,225 Dow is positive and below 9,200 Dow is negative.

www.wishmasterfinancialservice.com

NiftyUpdate

2009-08-17T22:26:00.000+05:30

The Indian market opened on huge gap down on weak global cues and mainly melt down in asian market and close with deep red zone. After opening gap down market keep on drifting down side and close near support zone .For coming session nifty is near crucial zone around 4350 .We can see some bounces from 4350 levels and can test 4450 zones if nifty close below 4370 we will broke main uptrend support line and can test 4240-4140 zones .

NiftyUpdatesFor12Aug09----InderBhatia

2009-08-11T21:34:00.000+05:30

The Indian market opened on flat note and touch yesterday bottom closed with positive note .For coming session 4398 level is important for long if nifty trade below 4398 w can test 4312-4240 zone. On the other side trading above 4484 zone we can test 4509-4534 zones.

NiftyUpdates For 11Aug09-----InderBhatia

2009-08-10T21:36:00.000+05:30

The Indian market opened on positive gapup but not able to sustain at higher level and close in red zone .For coming session nifty had close near support zone if nifty trade above 4480 level we can test 4509-4530 on upside .On the lower side trading below 4387 we can test 4269-4242 zone .On hourly chart we are in over sold zone some bounces cannot ruled out .

WeeklyUpdates For10Aug09---InderBhatia

2009-08-09T21:06:00.001+05:30

The Indian market opened on gap down on weak global market and close with deep red zone . For coming session if nifty trade below 4461 zones it likely to test 4412-4390 level on down side before any bounces .On the upside 4560-4586 zone will act resistances for the day .

SELL PATELENG BELOW 379 TGT 371>365 STOPLOSS 386.20

SELL BAJAJAUTO BELOW1160 TGT 1137>1099 STOPLOSS 1185

Last week sensex close down 3.3% and nifty fell by 3.34% respectively, saw selling pressure at higher level around 4700 levels and close near 20dma support zone .If nifty close below 4469 level we can test 4414 that is 50 dma and closing below 4300 zones we can drift lower side around 4234-4119 zone .On the upside key level to watch 4560 on closing basis than we can test 4610-4663 zones .On the above daily chart we had shown three top form by nifty but same time rsi had made lower low top that is bearish pattern as shown on chart 1-2-3 that showing clean negative divergences on chart .Friday sell off put indicator turned bearish zone like parabolic-sar ,slow stochastic is coming down. Infact on weekly chart nifty and sensex was approaching the 61.8% Fibonacci retracement level of the entire downturn that zone will act as strong resistances .

Nifty Future For 07 AUG,2009 - Viral Joshi

2009-08-07T08:18:00.000+05:30

Nifty Future For 07 AUG,2009 - Viral Joshi

Pivot is 4640 and support is 4480.

S1 4550 S2 4535 S3 4520/4500 R1 4565 R2 4580 R3 4600/4635

NIFTY FUTURE
BUY ABOVE 4565 & IF BREAK 4580 THEN 4600 - 4635 - 4650.
SHORT BELOW 4550 & IF BREAK 4535 THEN 4520 - 4500 - 4480.

Daily moving averages:

5DMA 4662;
20DMA 4446;
50DMA 4417;
200DMA 3399.

Bank Nifty For 07 AUG,2009 - viral Joshi

Pivot is 7570 and Support is 7350

s1 7450 s2 7435 s3 7400 R1 7480 R2 7500 R3 7535/7550.

Buy Above 7480 & If Break 7500 Then 7535 - 7550 - 7580.
Short Below 7450 & If Break 7435 Then 7420 - 7400 - 7350.

Dow Jones Tonight For 07 AUG,2009 - Viral Joshi

Pivot is 9,250 and support is 9,100.

S1 9,250; S2 9,200; S3 9,150; and R1 9,265; R2 9,280; R3 9,300/9,320.

Above 9,265 Dow is positive and below 9,250 Dow is negative.

www.wishmasterfinancialservice.com

NiftyUpdates For07Aug09------InderBhatia

2009-08-06T21:38:00.000+05:30

The Indian market opened weak note and saw selling pressure at higher level and close with red zone.For coming session nifty trade below 4550 levels than we can test 4510-4460 zones.On the other side trading above 4620 level we can test 4650-4670 zones .

Nifty Future For 06 AUG,2009 - Viral Joshi

2009-08-06T09:39:00.001+05:30

Pivot is 4680 and support is 4550.

S1 4650 S2 4635 S3 4620/4600 R1 4680 R2 4700 R3 4720/4750

NIFTY FUTURE
BUY ABOVE 4680 & IF BREAK 4700 THEN 4735 - 4750 - 4800.
SHORT BELOW 4680 & IF BREAK 4665 THEN 4650 - 4635 - 4600.

Daily moving averages:

5DMA 4659;
20DMA 4421;
50DMA 4411;
200DMA 3394.

Bank Nifty For 06 AUG,2009 - viral Joshi

Pivot is 7580 and Support is 7480

s1 7600 s2 7580 s3 7550 R1 7620 R2 7650 R3 7700/7750.

Buy Above 7620 & If Break 7650 Then 7700 - 7750 - 7800.
Short Below 7600 & If Break 7580 Then 7550 - 7500 - 7480.

Dow Jones Tonight For 06 AUG,2009 - Viral Joshi

Pivot is 9,270 and support is 9,100.

S1 9,250; S2 9,200; S3 9,150; and R1 9,300; R2 9,350; R3 9,380/9,400.

Above 9,300 Dow is positive and below 9,250 Dow is negative.

NiftyUpdates For06Aug09-------InderBhatia

2009-08-05T21:44:00.000+05:30

The Indian market opened on flat note trade with extreme choppy session and close with positive note . For coming session on daily chart nifty had form doji pattern .If Nifty trade above 4713 it likely to test 4744-4769 and trading below 4633 levels it likely to test 4609-4588 zones

NiftyUpdates For 05Aug09------InderBhatia

2009-08-04T21:23:00.000+05:30

The Indian market opened weak note and saw selling pressure at higher level and close with red zone.For coming session if nifty trade above 4700 levels it likely to test 4744-4790 levels .On the lower side trading below 4620 we will break the trend line and we can see healthy correction .On the daily chart Rsi had reach near resistances zone and near the breakdown point last sell of keep tight stop loss for longs.

NiftyUpdates04Aug------InderBhatia

2009-08-03T22:24:00.000+05:30

The Indian market opened on flat note and consolidation in the first half and saw sharp breakout on the upside closing with handsome gains. For coming session 4744-479 zone to watch for profit booking zone .On the lower side 4660-4640 zone will act as support for the day .

WeeklyUpdates For 03Aug09---InderBhatia

2009-08-02T20:21:00.001+05:30

BUYHDFC BANK ABOVE 1503 TGT 1540>1561 STOPLOSS 1490

BUY SONATA AROUND 33-31.50 TGT 40>42 STOPLOSS 29.50

BUY ONGC AROUND 1151 TGT 1176>1190 STOPLOSS 1128

Last week sensex gains 1.9% and nifty spurt by 1.5% respectively, and market saw better than expected results from corporate .As moving head nifty had reach near the point of resistances along with negative divergences on both daily and weekly chart as shown on chart. If nifty trade above 4693 we can test 4738-4808 zones .On the other side closing below 4526 levels we can test lower levels 4423-4312 zones .

The Indian market opened on gap up on strong global cues and saw profit booking at higher level but saw smart pullback at afternoon session and close with green zones. For coming session if nifty trade above 4653 zones it likely to test 4683-4723 zones .On the other side trading below 4550 we can see sell off and nifty can test 4430-4320 levels .For long move stoploss towards 4550 zone from 4239 zones.

NIFTY VIEW - VIRAL JOSHI

2009-07-31T08:22:00.004+05:30

Dow Jones Hold 9000 Level & Break 9200 Level ,
If It Sustain Then Dow Going Towards 12000 Level.

On Our Last Post We Said If Nifty Hold 4485 Level Then 5000 Level.
Which As Been Conformed.

As Dow Broken 9200
We Will Break 4650 & 4750 & Lead Towards 5000 Level.

In Short, In This month Augest We r expecting nifty target 5000.

start buying things at every dip
don't miss this levels
according to my technical calculation
wihin 18 feb,2010

NIFTY FUTURE TG 7100.
SENSEX TG 24,500.

NiftyUpdates For31jul09------InderBhatia

2009-07-30T21:42:00.000+05:30

The Indian market opened on flat note on weak global cues and turned positive zone with volatile session and close with green zones. For coming trading session if nifty trade above 4580 levels it can test 4604-4621 zones .On the lower side trading below 4520it likely to test 4503-4469 zones .

NiftyUpdates For30jul----InderBhatia

2009-07-29T20:36:00.000+05:30

The Indian market opened on weak note on weak global weak cues and close with negative zone .As we had mention below 4529 rising wedge will crack and kiss low 4410 levels .For coming session 4542-4560 zone will act resistances and if nifty trade below 4463 it likely to test 4427-4342 zones .

NiftyUpdates For29jul----InderBhatia

2009-07-28T21:52:00.000+05:30

The Indian market opened on marginally up and after opening turned in to negative zones and end session with red zone. Nifty was trading in narrow range on hourly chart nifty is forming rising wedge pattern and trading below 4529 it will confirm sell pattern .If nifty trade above 4587 it can test 4602-4624 zones on the lower side below4530 it will test 4460-4410 zones .

NiftyUpdates 28jul------InderBhatia

2009-07-27T21:50:00.000+05:30

The Indian market opened on positive note but saw profit booking at higher level and close flat zones . For coming trading session if nifty trade above 4593 zones it will test 4630-4650zones .On the lower side trading below 4550 level it can test 4510-4500 level .On the daily chart nifty had form narrow range body which suggests indecisiveness.

Nifty Future For 27 JULY,2009 - Viral Joshi

2009-07-27T09:38:00.002+05:30

Pivot is 4550 and support is 4450.

S1 4550 S2 4535 S3 4520/4500 R1 4580 R2 4600 R3 4650/4700

NIFTY FUTURE
BUY ABOVE 4580 & IF BREAK 4600 THEN 4635 - 4650 - 4700.
SHORT BELOW 4580 & IF BREAK 4565 THEN 4550 - 4535 - 4500.

Daily moving averages:

5DMA 4493;
20DMA 4301;
50DMA 4340;
200DMA 3369.

Bank Nifty For 27 JULY,2009 - viral Joshi

Pivot is 7400 and Support is 7250

s1 7350 s2 7300 s3 7250 R1 7400 R2 7450 R3 7500/7550.

Buy Above 7400 & If Break 7450 Then 7500 - 7550 - 7600.
Short Below 7380 & If Break 7350 Then 7300 - 7280 - 7250.

Dow Jones Tonight For 27 JUly,2009 - Viral Joshi

Pivot is 9,065 and support is 9,000.

S1 9,080; S2 9,050; S3 9,000; and R1 9,100; R2 9,120; R3 9,150/9,200.

Above 9,100 Dow is positive and below 9,080 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap UP Opening Today.

support for day 4550.

AS SAID IN LAST POST DOW JONE GOING TOWARDS 9200 JUST CHECK OUT it is right now at 9,093.24" perfect" . only 106..76 POINT LEFT

ALSO SAID NIFTY NEED TO HOLD 4200 TOWARDS 4485 AND IF IT HOLD FOR 3 DAYS 4485 HOLD THEN 4650 AND 4750 LEVEL.

WE ACHIVED 4485 AND TODAY 4650 GOING TO BREAK.

NOW IF 4650 & 4750 BROKEN THEN NIFTY GOING TOWARDS 5000.

NOW QUESTION IS WILL WE BREAK 4750 LEVEL?
ANSWER OF THIS QUESION WAS HOLD BY DOW JONE
IF DOW JONE HOLD 9000 LEVEL THEN YES WE WILL SEE 4750 LEVEL AND
IF DOW JONE BREAK 9200 LEVEL THEN WE WILL BREAK 5000 LEVEL.

SO DOW IS THE KEY FOR 5000 LEVEL.KEEP WATCH IT

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 .

WeeklyUpdates For 27Jul09----InderBhatia

2009-07-26T19:07:00.002+05:30

BUY JINDAL SAW ABOVE 438 TGT 456>467STOPLOSS423

BUYAPTECH AROUND 172-174 TGT185>193 STOPLOSS166

Last week sensex gains 4.30% and nifty spurt by 4.43% respectively, closed for the second consecutive week upside .As moving head there are multiple resistances around 4650-zones .On weekly chart we are witnessing flag pattern breakout and inverse head &shoulder pattern forming but in past we had seen failure in nifty bearish hns pattern and Rsi is reach near resistances point from last time it was breakdown as shown in above chart. If nifty closed below 4340 zone flag pattern will in valid for long one has to move stoploss4340 zones .For coming week closing above 4583 zone it will likely to test 4647-4682 zones and closing below 4480 it will test 4445-4380 zones .

The Indian market opened on gap up on strong global cues and close with strong note .For coming session we had seen disappoint result from Reliance Industries if nifty open gap down around 4510-4483 zones it will act support zone .On hourly chart we are witnessing negative divergences on charts as shown above chart.On the other side 4593 zone will act as resistance for the day and trading above 4593 zone it will test 4630-4645 zones .

NiftyUpdatesDor24jul09----InderBhatia

2009-07-23T21:33:00.000+05:30

The Indian market again opened with huge gap-up and after trading in tight range for most of session and saw huge buying in second half session and close with green zone. For coming session if nifty trade above 4530 it can test 4568-4580 zones .On the lower side 4495-4477 zone will act as support the day.

NiftyUpdates For23jul09-----INderBhatia

2009-07-22T21:21:00.000+05:30

The Indian market opened on positive note but was unable to sustain at higher levels and saw sharp sell from 4569zone and close with red zones. If nifty trade below 4390-4373 levels it can test 4337-4290 zones .On the higher side if nifty is week than it will not cross 4432-4455 zone and crossing above 4485 zones it will test 4520-4577 zones .

NiftyUpdates For22jul09-----InderBhatia

2009-07-21T21:38:00.001+05:30

The Indian market opened marginally up on positive cues from us market and close in red zones.For the coming trading session if indices convincingly trade above 4523 it can test 4568 zones .On the lower side 4383 -4370 will act as support forthe day .

NiftyUpdates For22jul09-----InderBhatia

2009-07-21T21:38:00.000+05:30

NiftyUpdates For21jul09-----InderBhatia

2009-07-20T21:39:00.000+05:30

The Indian market opened on gap-up and positive global cues and close with handsome gains. For coming trading session if nifty trade above 4514 it can test 4556-4570 zones .On the lower side trading below 4470 levels it can test 4438-4400 zones .Nifty had rise more than 600 point with out any correction on hourly chart nifty is in over bought zones.

NiftyUpdates For17jul09---InderBhatia

2009-07-16T21:14:00.000+05:30

The Indian market ended flat today after volatile session and saw profit booking at higher levels .For coming session .On the daily chart nifty form reversal doji pattern if nifty trade below 4191 levels it can test 4151-4090 zones .On the upside 4277-4330 zone will act as resistances zones

Nifty Future For 16 JULY,2009 - Viral Joshi

2009-07-16T08:28:00.002+05:30

Pivot is 4200 and support is 4200.

S1 4280 S2 4250 S3 4200 R1 4300 R2 4320 R3 4350/4400

NIFTY FUTURE
BUY ABOVE 4280 & IF BREAK 4300 THEN 4320 - 4350 - 4400.
SHORT BELOW 4270 & IF BREAK 4265 THEN 4250 - 4235 - 4200.

Daily moving averages:

5DMA 4080;
20DMA 4244;
50DMA 4227;
200DMA 3358.

Bank Nifty For 16 JULY,2009 - viral Joshi

Pivot is 6880 and Support is 6800

s1 6980 s2 6950 s3 6900 R1 7050 R2 7100 R3 7150/7200.

Buy Above 7020 & If Break 7050 Then 7100 - 7150 - 7200.
Short Below 6950 & If Break 6920 Then 6900 - 6850 - 6800.

Dow Jones Tonight For 16 JUly,2009 - Viral Joshi

Pivot is 8,580 and support is 8,500.

S1 8,600; S2 8,580; S3 8,550; and R1 8,635; R2 8,650; R3 8,700/8,750.

Above 8,635 Dow is positive and below 8,600 Dow is negative.

www.wishmasterfinancialservice.com

Comment:-

Gap UP Opening Today. ( 45 - 55 points )

support for day 4200.

if nifty future break 4485 level and hold it for 2 to 3 days then 5000 level can be seen.

if dow jone hold 8200 level then 9200 is on way, break out already done in it.

nifty need to hold 4200 for break out of 4485 level & 4750 level.

NiftyUpdates For 16jul09---InderBhatia

2009-07-15T20:46:00.000+05:30

The Indian market opened on gap-upon positive global cues and close with hand some gains. For coming session if nifty cross 4259-4265 zones it can test 4300-4334 zone at the end of session nifty end near resistances zone .On hourly chart nifty is enter in overbought zone if nifty trade below 4200 levels it can test 4150 zones .

Nifty Future for July 8 - Viral Joshi

2009-07-08T08:20:00.003+05:30

Pivot is 4200 and support is 4100.

S1 4150; S2 4120; S3 4100; and

R1 4180; R2 4200; R3 4220/4250.

Buy above 4180 and if it breaks 4190 then 4200-4220-4250-4300.
Short below 4160 and if it breaks 4150 then 4135-4120-4100.

Daily moving averages:

5DMA 4296;
20DMA 4368;
50DMA 4171;
200DMA 3366.

Bank Nifty

Pivot is 6950 and Support is 6750.

S1 6950; S2 6900; S3 6850/6800; and
R1 7000; R2 7050; R3 7100/7150.

Buy above 7000 and if it breaks 7020 then 7050-7100-7150.
Short Below 6950 and if it breaks 6920 then 6900-6850-6800.

Dow Jones

Pivot is 8,215 and support is 8,100.

S1 8,150; S2 8,120; S3 8,100; and R1 8,215; and
R2 8,250; R3 8,300/8,350.

Above 8,215 Dow is positive and below 8,150 Dow is negative.

Gap Down Opening Today of 35-45 points.

If Nifty succeeds in holding 4100 level till 4500 level is not broken, then Nifty lead towards big break out of 4750, else 3700 as H&S would be triggered.

Trend Can Change to be negative and if and only if 4100 Broken. Till then it is bullish.

Nifty Update for JUly 8 - Inder Bhatia

2009-07-07T21:03:00.003+05:30

The Indian market opened on a flat note and saw a choppy session closing with a positive note. As Nifty was getting selling pressure around 4220 zone and taking support around 4160 zone. If Nifty traded above 4230 it can test 4265-4310. On the higher side 4330-4350 zone one can watch to build short positions and trading below 4140 levels we can see a sharp sell-off.

Nifty Future For 02 JULY,2009 - Viral Joshi

2009-07-02T07:54:00.001+05:30

Pivot is 4320 and support is 4250.

S1 4335 S2 4320 S3 4300/4280 R1 4350 R2 4365 R3 4380/4400

NIFTY FUTURE
BUY ABOVE 4350 & IF BREAK 4365 THEN 4380 - 4400 - 4420.
SHORT BELOW 4320 & IF BREAK 4300 THEN 4280 - 4265 - 4250.

Daily moving averages:

5DMA 4328;
20DMA 4418;
50DMA 4100;
200DMA 3368.

Bank Nifty For 02 JULY,2009 - viral Joshi

Pivot is 7420 and Support is 7250

s1 7450 s2 7400 s3 7350/7300 R1 7480 R2 7500 R3 7550/7600.

Buy Above 7450 & If Break 7480 Then 7500 - 7550 - 7600.
Short Below 7450 & If Break 7420 Then 7400 - 7350 - 7300.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 02 JUly,2009 - Viral Joshi

Pivot is 8,525 and support is 8,350.

S1 8,500; S2 8,450; S3 8,400; and R1 8,525; R2 8,550; R3 8,600.

Above 8,525 Dow is positive and below 8,500 Dow is negative.

Comment:-

Gap Up Opening Today.

support for day 4250.

nifty try to hold 4300 level & if 4365 broken then 4380 - 4400 - 4420.

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

nifty trianglular shape"rakesh chandra"

2009-07-01T02:33:00.001+05:30

here nify eod chart analyiswe r progresing 4h corective waveits complex paatern (triangular formation)traingular shape takes a b c d e wave copletion4450 was d wave target and now we r followong towards e wavehope a-c-e will act support zone thenthen 5ht up wave .on card..look upside arrowtrade cautious..since length of d -e wave is small and cofuisng..and any side reversal will be strong.....obey ..level for day
S&P CNX NIFTY* RC Wave* stoplls:4,294 next day_Buy above :4,316.43next day up target>4,353>>4,413>
---------------------
S&P CNX NIFTY* RC Wave* stoplls :4,316 next day_Short bellow :4,293.67next day lower target >4,257>>4,197>>>4

Nifty Update for June 30 - Inder Bhatia

2009-06-29T19:58:00.003+05:30

The Indian market opened on a flat note and saw an upward journey in the afternoon session and closed in the flat zone. Nifty is showing profit-booking at higher level and all the gains vanished at the end of the session. For the coming session trading below 4368, Nifty will test 4342-4300. On the other side 4480-4513 zone will act as strong resistance.

Nifty and Stocks Update for June 30 - Inder Bhatia

2009-06-28T17:40:00.004+05:30

Sell M&M below 683 TGT 653>638 Stoploss 705.

Buy ICICIBANK above 757 TGT 785>803 stoploss 729.

Last week we had mentioned that any major rally would correct before a next move, yet we saw just a 23 percent retracement to 4151. A 38 percent retracement would be around 3850 and 50 percent retracement is 3592 as shown in above chart.

Last week the Sensex gained 1.7 percent and Nifty ended higher by 1.4 percent respectively. As last week we had mentioned that some pullback can be expected and Nifty bounced from lower levels to touch 4370 levels before moving ahead to 4442-4483-4553 which will act as resistance zone. On the lower side if Nifty cracks below 4140 we could see a deep correction toward 4000-3865. For the coming weeks closing below 4310 levels we could test 4220-4150.

The Indian market opened on higher note tracking positive cues from global market and close with hand some gains.For coming session nifty trading above 4380 it likely to test 4440-4483 zones. On the other side 4290-4240 levels will act as support zones.

Nifty Future For 26 JUNE,2009 - Viral Joshi

2009-06-26T07:42:00.000+05:30

Nifty Future For 26 JUNE,2009 - Viral Joshi

Pivot is 4280 and support is 4150.

S1 4235 S2 4220 S3 4200/4180 R1 4255 R2 4280 R3 4300/4320.

NIFTY FUTURE
BUY ABOVE 4250 & IF BREAK 4265 THEN 4280 - 4300 - 4320.
SHORT BELOW 4250 & IF BREAK 4235 THEN 4220 - 4200 - 4180.

Daily moving averages:

5DMA 4266;
20DMA 4450;
50DMA 4025;
200DMA 3367.

Bank Nifty For 26 JUNE,2009 - viral Joshi

Pivot is 7155 and Support is 7000

s1 7100 s2 7080 s3 7050/7020 R1 7155 R2 7180 R3 7200/7250.

Buy Above 7120 & If Break 7150 Then 7180 - 7200 - 7250.
Short Below 7100 & If Break 7090 Then 7080 - 7050 - 7020.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 26 JUNE,2009 - Viral Joshi

Pivot is 8,440 and support is 8,350.

S1 8,450; S2 8,400; S3 8,350; and R1 8,500; R2 8,550; R3 8,600.

Above 8,500 Dow is positive and below 8,450 Dow is negative.

Nifty Future For 25 JUNE,2009 - Viral Joshi

2009-06-25T08:23:00.001+05:30

Nifty Future For 25 JUNE,2009 - Viral Joshi

Pivot is 4280 and support is 4250.

S1 4300 S2 4280 S3 4250 R1 4320 R2 4350 R3 4380/4400.

NIFTY FUTURE
BUY ABOVE 4320 & IF BREAK 4335 THEN 4350 - 4380 - 4400.
SHORT BELOW 4300 & IF BREAK 4290 THEN 4280 - 4265 - 4250.

Daily moving averages:

5DMA 4268;
20DMA 4454;
50DMA 4007;
200DMA 3368.

Bank Nifty For 25 JUNE,2009 - viral Joshi

Pivot is 7100 and Support is 7000

s1 7100 s2 7080 s3 7050/7020 R1 7150 R2 7180 R3 7200/7250.

Buy Above 7120 & If Break 7150 Then 7180 - 7200 - 7250.
Short Below 7100 & If Break 7090 Then 7080 - 7050 - 7020.

www.wishmasterfinancialservice.com

Dow Jones Tonight For 25 JUNE,2009 - Viral Joshi

Pivot is 8,325 and support is 8,150.

S1 8,250; S2 8,200; S3 8,150; and R1 8,300; R2 8,325; R3 8,350/8,400.

Above 8,300 Dow is positive and below 8,250 Dow is negative.

Nifty Future For 24 JUNE,2009 - Viral Joshi

2009-06-24T08:41:00.000+05:30

Pivot is 4235 and support is 4150.

S1 4235 S2 4220 S3 4200 R1 4265 R2 4285 R3 4300/4320.

NIFTY FUTURE
BUY ABOVE 4245 & IF BREAK 4255 THEN 4265 - 4285 - 4300.
SHORT BELOW 4245 & IF BREAK 4235 THEN 4220 - 4200 - 4180.

Daily moving averages:

5DMA 4281;
20DMA 4453;
50DMA 3988;
200DMA 3368.

Bank Nifty For 24 JUNE,2009 - viral Joshi

Pivot is 7085 and Support is 6950

s1 7085 s2 7050 s3 7020/7000 R1 7100 R2 7120 R3 7150/7180.

Buy Above 7100 & If Break 7120 Then 7150 - 7180 - 7200.
Short Below 7085 & If Break 7050 Then 7020 - 7000 - 6980.

Dow Jones Tonight For 24 JUNE,2009 - Viral Joshi

Pivot is 8,325 and support is 8,250.

S1 8,325; S2 8,300; S3 8,250; and R1 8,350; R2 8,400; R3 8,450.

Above 8,350 Dow is positive and below 8,325 Dow is negative.

Nifty Future For 23 JUNE,2009 - Viral Joshi

2009-06-23T08:16:00.000+05:30

Pivot is 4255 and support is 4100.

S1 4150 S2 4120 S3 4100 R1 4180 R2 4200 R3 4220/4250.

NIFTY FUTURE
BUY ABOVE 4180 & IF BREAK 4200 THEN 4220 - 4250 - 4280.
SHORT BELOW 4180 & IF BREAK 4150 THEN 4120 - 4100 - 4080.

Daily moving averages:

5DMA 4335;
20DMA 4447;
50DMA 3970;
200DMA 3368.

Bank Nifty For 23 JUNE,2009 - viral Joshi

Pivot is 7255 and Support is 7000

s1 7150 s2 7120 s3 7100/7050 R1 7180 R2 7200 R3 7220/7250.

Buy Above 7180 & If Break 7200 Then 7220 - 7250 - 7280.
Short Below 7180 & If Break 7150 Then 7120 - 7100 - 7050.

Dow Jones Tonight For 23 JUNE,2009 - Viral Joshi

Pivot is 8,380 and support is 8,250.

S1 8,320; S2 8,300; S3 8,250; and R1 8,350; R2 8,400; R3 8,450.

Above 8,350 Dow is positive and below 8,320 Dow is negative.

Nifty Update for June 22 - Inder Bhatia

2009-06-21T19:31:00.005+05:30

Last week sensex lost 4.7 percent and the Nifty closed down 5.9 percent respectively. Last week we had mentioned about a rising wedge and long-legged doji combination. Since then we have seen a good reversal from the upside and the Nifty has reached our level of 4249-4189. Nifty bounced from 4202 zone and closed around 4313.

Daily: We are forming a Head and shoulder pattern that is another bearish and strong reversal pattern on top. The pattern is still in the process of formation. If current Nifty goes around 4370-4456-4504 level and cracks the neckline we could see a lower target around 3865-3700. We have seen Reliance Industries had fill post-election gap around 1976.

We can expect the same for the Nifty which could come down around 4000-3795 to fill the gap sooner or later.

BUY BANKINDIA 339 TGT 347>355 Stoploss 333.

SELL IBREAL below 183.50 TGT 165>145 Stoploss 200.50.

Last week we had mentioned that any major rally will correct before its next upmove . We have so far seen just 20 percent retracement. The 23 percent (4151 level); 38 percent (3850) and 50 percent (3592) is shown in the chart.

The Indian market opened on a higher note tracking positive cues but saw a choppy session up and down to close with handsome gains. On the hourly chart we could see some bounces around 4371-4434. On the downside 4240-4189 acts as a support zone while breaking below 4189 more selling could be seen.

Nifty Update for June 19 - Inder Bhatia

2009-06-18T21:16:00.004+05:30

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

2009-06-18T02:54:00.004+05:30

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

2009-06-17T23:10:00.002+05:30

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

2009-06-16T21:41:00.003+05:30

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

2009-06-16T08:39:00.001+05:30

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

2009-06-16T08:38:00.001+05:30

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

2009-06-16T08:34:00.002+05:30

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

2009-06-15T20:25:00.003+05:30

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

2009-06-15T01:40:00.004+05:30

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

2009-06-14T21:08:00.004+05:30

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

2009-06-14T20:55:00.005+05:30

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.

Nifty Update for June 12 - Inder Bhatia

2009-06-11T21:00:00.003+05:30

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

2009-06-11T05:15:00.004+05:30

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

2009-06-10T21:08:00.003+05:30

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

2009-06-09T20:42:00.003+05:30

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

2009-06-08T21:20:00.003+05:30

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

2009-06-07T21:58:00.004+05:30

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

2009-06-07T21:55:00.004+05:30

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

2009-06-07T21:53:00.003+05:30

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 ...........

Midcap Buzz - Rakesh Chandra

2009-06-05T09:28:00.003+05:30

BUY THES STOCK WITH PREVIOUS DAY STOLSS
TARGET PERIOD VERY SHORT TERM
sonataster above 13.75> 17
spicetele above 76 will go 84
starpaper above 30 >35 >41
sunil hitec..above 154> 180
xproindia above 24 > 28

Dow Jones Tonight For 05 JUNE,2009 - Viral Joshi

2009-06-05T07:57:00.001+05:30

Pivot is 8,725 and support is 8,600.

S1 8,725; S2 8,700; S3 8,650; and R1 8,750; R2 8,800; R3 8,850.

Above 8,750 Dow is positive and below 8,725 Dow is negative.

Bank Nifty For 05 JUNE,2009 - viral Joshi

2009-06-05T07:56:00.000+05:30

Pivot is 7300 and Support is 7100

s1 7250 s2 7200 s3 7150/7100 R1 7300 R2 7350 R3 7380/7400.

Buy Above 7300 & If Break 7320 Then 7350 - 7380 - 7400.
Short Below 7250 & If Break 7220 Then 7200 - 7150 - 7100.

Nifty Future For 05 JUNE,2009 - Viral Joshi

2009-06-05T07:55:00.000+05:30

Pivot is 4550 and support is 4500.

S1 4580 S2 4550 S3 4520/4500 R1 4600 R2 4620 R3 4650/4680.

NIFTY FUTURE
BUY ABOVE 4580 & IF BREAK 4600 THEN 4620 - 4650 - 4680.
SHORT BELOW 4580 & IF BREAK 4550 THEN 4520 - 4500 - 4480.

Daily moving averages:

5DMA 4521;
20DMA 4135;
50DMA 3622;
200DMA 3369.

Nifty Update for June 4 - Inder Bhatia

2009-06-04T19:08:00.003+05:30

The Indian market opened on gap-down on weak global cues but saw recovery in second half session and closed in the positive zone. For the coming session 4615 is the level to watch, which would act as a resistance zone. If Nifty trades above 4590 it could test 5620-4640. On the lower side 4450 level will act as a support zone .On hourly chart RSI is showing negative divergences.

Dow Jones Tonight For 04 JUNE,2009 - Viral Joshi

2009-06-04T07:57:00.002+05:30

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

S1 8,640; S2 8,600; S3 8,550; and R1 8,685; R2 8,700; R3 8,750.

Above 8,685 Dow is positive and below 8,640 Dow is negative.

Bank Nifty For 04 JUNE,2009 - viral Joshi

2009-06-04T07:57:00.001+05:30

Pivot is 7275 and Support is 7100

s1 7250 s2 7200 s3 7150/7100 R1 7275 R2 7300 R3 7350/7400.

Buy Above 7275 & If Break 7285 Then 7300 - 7350 - 7400.
Short Below 7250 & If Break 7220 Then 7200 - 7150 - 7100.

Nifty Future For 04 JUNE,2009 - Viral Joshi

2009-06-04T07:56:00.000+05:30

Pivot is 4525 and support is 4400.

S1 4525 S2 4500 S3 4480/4450 R1 4550 R2 4580 R3 4600/4650.

NIFTY FUTURE
BUY ABOVE 4550 & IF BREAK 4580 THEN 4600 - 4620 - 4650.
SHORT BELOW 4520 & IF BREAK 4500 THEN 4480 - 4450 - 4420.

Daily moving averages:

5DMA 4474;
20DMA 4090;
50DMA 3764;
200DMA 3368.

Nifty Update for June 4 - Inder Bhatia

2009-06-03T22:18:00.003+05:30

The Indian market opened on a higher note and closed on a flat note. On the daily chart we are witnessing a spinning top - a spinning top is a candle with a small real body. During a rally or near new high, a spinning top can be sign that the price is losing momentum and bulls may be in trouble. We are seeing negative divergence on hourly charts i.e. the Nifty is moving up and RSI moving down. If the Nifty trades below 4508 it will test 4459-4411. On the upside 4556-4582 will act as resistance.

Bank Nifty for June 3 - Viral Joshi

2009-06-03T07:38:00.004+05:30

Pivot is 7280 and Support is 7100.

s1 7320; s2 7280; s3 7250/7200; R1 7350; R2 7400; R3 7450/7500.

Buy Above 7350 & If Break 7380 Then 7400 - 7450 - 7500.
Short Below 7320 & If Break 7300 Then 7250 - 7200 - 7150.