Nifty Weekly Update for April 27-29 - Inder Bhatia

Buy ADLABS 238.70 TGT 247>263 Stoploss 231.

From the Nifty weekly chart we can see a breakout and a close above the major downward sloping line. The next resistance is 3793 and a strong support at 3240-3173.

Weekly: Last week the market extended the gains by 2.8 percent in the Nifty which rose for seven consecutive weeks. We also saw bulls and bears fighting near the 200 DMA but the bulls won the battle and closed above 200-DMA. This indicated more upside toward 3640-3793.

Daily: On the daily chart Nifty shows a pennant breakout which is a bullish pattern with a logical target of 3750. For the coming session if Nifty crosses 3514 it will test 3583-3643. On the lower side closing below 3423 it will test 3383-3353. The market is trading in an overbought zone on a daily chart. The stoploss for longs would be 3290 to 3440 on a closing basis.

Buy ABGSHIP above 137.50 TGT 145>157 Stoploss 131.

Buy CENTURY TEX ABOVE 239 TGT 250>255STOPLOSS 233.

Buy SINTEX above 142 TGT 146>150 Stoploss 139.

Buy AXIS BANK 532 TGT 545 >561 Stoploss 523.

Hourly: The Indian market opened on a flat note and remained choppy throughout the first session but saw smart buying in the afternoon and closed near the day's high.

For coming session if Nifty trades above 3513 it will test 3583 and 3630. On the lower side 3440-3421 zone would act as a support zone. For longs 3440 would be a stoploss on closing basis.

Gold for the Week November 3-7 - Rakesh Chandra

Buy above 11,804.46 Stoploss 11,696;
Up target for Gold is 11,981 >> 12,266 >>> 12,443.

Short below 11,695.54 Stoploss 11,804;
Lower target is 11,519 >> 11,234 >>> 11,057.

Gold for the Week October 13-17 - Rakesh Chandra

Buy above 13,513; Stop loss 13,297
Weekly up target: 13,862>>14,428>>>14,778;
Short below 13,297; Stop loss 13,513;
Weekly lower target 12,948>>12,382>>>12,032.

Nifty Future Weekly for Oct 6-10 - Rakesh Chandra

Nifty future on an hourly basis is close to completing its 5th wave down. Possible target for this down wave is 3629 max. It is advisable to buy at the lower levels.

Upwave (4-5) WUT3: 4,077;

Upwave (2-3) WUT2: 4,020;

Upwave (0-1) WUT1: 3,928;

WUT = Weekly Upper Target.

Price is bullish above the weekly pivot point of 3870.64;

Price is bearish below the weekly pivot point of 3835.36.

Weekly lower targets are:

Down wave (0-1) WLT1: 3,778;

Down wave (2-3) WLT2: 3,686;

Down wave (4-5) WLT3: 3,629.

Weekly Hot Calls Sep 22 - Inder Bhatia

Buy HDFC above 2332 TGT 2401>2471 Stoploss 2289.

Buy KOTAK 631 TGT 644>651 Stoploss 617.

Buy PUNJLLOYD above 315 TGT 321>329 Stoploss 308.

Nifty Future for September 15-19 - Rakesh Chandra

Look this sensex image. Where are we heading? This wave count is not done by me but it looks good. All these things are going on correctly. Monday we should see some upside on open, which cannot be ignored, but this upside is a shorting opportunity at some point on an intraday basis. Wait for the market to sustain,. On an hourly basis, Nifty future is on an extended Wave3. Any lower side level is a buy for the coming hours. After a wave3 down, a small 4th up is on the cards.

Upwave (4-5) WUT3: 4,535;
Upwave (2-3) WUT2: 4,453;
Upwave (0-1) WUT1: 4,322.

Price is bullish above 4,240.15, which is a weekly pivot point. Price is bearish below 4189.85, which is a weekly pivot point.

Weekly lower targets are:

Downwave (0-1) WLT1: 4,108;
Downwave (2-3) WLT2: 3,977;
Downwave (4-5) WLT3: 3,895.

Crude for the Week August 25-29 - Rakesh Chandra

Upwave (4-5) WUT3: 124;
Upwave (2-3) WUT2: 122;
Upwave (0-1) WUT1: 118;

Price is bullish above weekly pivot point 115.38) and price is bearish below weekly pivot point 113.87.

Down wave (0-1) WLT1: 111;
Down wave (2-3) WLT2: 107;
Down wave (4-5) WLT3: 105.

Nifty Update for Week August 25-29 - Inder Bhatia

Hourly: The Indian market bounced from lower levels and managed to close in the green zone. For coming session we could witness more upside toward 4370-4400 levels. On the lower side 4280-4264 will act as a support zone.

Daily: The Nifty closed with loss of 2.33 percent on low volume. On the daily chart, Nifty kissed the 100 SMA and reversed from there. It has taken support at the 50 SMA, as shown on the chart. For the coming session, if Nifty crosses 4345, we could test 4410-4423 level. On the upper side, 4450 would act as a strong resistance. On the lower side 4287-4234 would act as a support zone. Key level for the week is 4345.

Hot Calls for Week August 25-29 - Inder Bhatia

Buy Infosys above 1702 TGT 1727>1751 Stoploss 1687.

Buy Ranbaxy above 522 TGT 529 > 534 Stoploss 518.50.

Buy Sail above 151 TGT 155 > 159 Stoploss 149.

Sell Satyam below 386 TGT 381 > 377 Stoploss 389.

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.

Crude for the Week August 11-15 - Rakesh Chandra

One EOD basis, crude is on W3 down wave, which is near completion. The W4 upwave, a consolidation, is on the cards in the coming days. In the intermediate timeframe, an upward move in crude cannot be ignored. Any decline would be a buying opportunity.

Upwave (4-5) WUT3: 5,330;
Upwave (2-3) WUT2: 5,205;
Upwave (0-1) WUT1: 5,003.

Price is bullish above weekly pivot point 4,877.64 and price is bearish below weekly pivot point 4800.36.

The weekly lower targets are as follows:

Down wave (0-1) WLT1: 4,675;
Down wave (2-3) WLT2: 4,473;
Down wave (4-5) WLT3: 4,348.

Gold for the Week August 11-15 - Rakesh Chandra

Pivot, lower target and upper target are valid for the current week only.

Upwave (4-5) WUT3: 917;
Upwave (2-3) WUT2: 902;
Upwave (0-1) WUT1: 877;

Price is bullish above weekly pivot point 861.77 and bearish below weekly pivot point of 852.33.

Down wave (0-1) WLT1: 837;
Down wave (2-3) WLT2: 812.

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.

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.

Gold Weekly July 28-Aug 1 - Rakesh Chandra

Gold has obeyed all the levels strictly. This week, gold would break in any one direction and head further in that direction.

For the upside:

Upwave (4-5) WUT3: 985;
Upwave (2-3) WUT2: 971;
Upwave (0-1) WUT1: 948.

Price is bullish above 934.12 and price is bearish below 925.38.

Down wave (0-1) WLT1: 911;
Down wave (2-3) WLT2: 888;
Down wave (4-5) WLT3: 874.

Nifty Future Weekly July 28-Aug 1 - Rakesh Chandra

Nifty future will follow the following trend:

Price is bullish above 4356.33.

Upwave (2-3) WUT2: 4,643;
Upwave (0-1) WUT1: 4,466;

Price is bearish below 4228.67.

Down wave (0-1) WLT1: 4,179;
Down wave (2-3) WLT2: 4,002;
Down wave (4-5) WLT3: 3,892.