NIFTY - AN ANALYSIS ON HISTORICAL CORRECTION PATTERNSNifty - An analysis of historical major correction patterns in monthly charts.
a) 305% upmove followed by -64% (ratio 4.8)
b) 145% upmove followed by -28% (ratio 5.2)
c) 93% upmove followed by -26% (ratio 3.6)
d) 56% upmove followed by ____ ? (ratio 3.6 to 5.2)
ie -17.5% to -10.8%
ie 11170 (1-17.5%) to 11170(1-10.8%)
ie 9215 to 9963
This is just an analysis based on historical behaviour; not necessarily my opinion.
Sensex
Melt upMost overbought ever...at least till 1970's
If that's not enough please humor me.
What's funny is everyone in the mainstream is defending. Including Warren Buffett.
www.cnbc.com
And this is the response from Cliff Asness
twitter.com
You know where I stand. Make up your own mind.
This is a global equity story. Not just the US.
Indian benchmark indices touched all time highs today.
Watching ETNOW and CNBC in India is funny. Their condescending opinions about markets are the daily dose of entertainment for me.
Even more amusing is how the opinions turn on a dime day over day.
With all due respect though. It's a tough job they have. I wouldn't fair better in all honesty.
But investors should.
JUBILANT LIFE SCIENCES - NICE BULLISH PATTERNWeekly chart
Cup formation based breakout out with huge volumes.
Target 880 + 0.5 (27) = 1035.
Stop 800.
Aggressive investors can buy 50% now and 50% on any retracement.
Conservative investors can look for a possible retracement towards 900 levels. However chances of missing out prevail.
Nifty - Upward channel breakoutMonthly chart
Reveals an upward channel breakout.
Any retracements an opportunity to go long. (10300-10500)
Keep a watch on the upper line of the channel which is probably the support for the next base.
Any retracement towards the upper line of the channel (support) is an opportunity to go long.
Drop below the support will be a concern.
TATA ELXSI - Upward channel breakout.Tata Elxsi
CMP 1041
Bias - Long bias.
Rationale:
Upward channel breakout.
Strategy:
Short term strategy - Buy at CMP for a target of 1160 to 1200 and a stop of 975.
Highest addition of OI seen in 1200 call followed by 1160 call; hence 1160 should act as a mild resistance and 1200 should act as a strong resistance. So strategy should be having a trailing stop as the price moves higher inorder to get the max benefit above 1160.
All levels are based on spot prices. Any position in futures and / or call should be linked to the indicated spot levels.
Long term strategy - Buy 50% at CMP and 50% if it breaches the resistane convicingly with voumes above 1200. Above 1200, stock has the potential to reach 1500.
Stop for both short and long term strategy should be at 975.
SAIL - Possible reversal in short term trend.Sail is consolidating since 1 month after big move earlier and since then trading in symmetrical triangle, now it's near support zone as shown in chart, and as the triangle getting narrowed, expect a breakout soon, most probably a upside breakout as volume is not great during fall also RSI & CMO is in oversold zone, so expect a reversal in trend, and as it break past the resistance zone then expect it to resume the original medium term up trend,
Overall I expect that Sail should soon achieve the long awaited 3 digit mark.
City Union Bank - Weekly ChartCUB - cmp 172.
Bias : Long
Rationale:
1) Price holds support at upward sloping trend line.
2) Price holds support at 30 week ema.
3) Double bottom formation in a bullish structure.
4) Cup formation observed.
5) Price pierces past downward sloping trend line with above average volumes.
6) Stop : Breach below 30 week ema.
NIFTY - STRONG SUPPORT SEEN AT 10000NIFTY 10143
Derivative facts
1) Highest Call OI at 10500. Highest Call OI addition at 10300.
2) Higest Put OI at 10000. Highest Put OI addition at 10000.
Technical structure
Positives :
1) Nifty currently resting on the long term upward trend support line.
2) Nifty also resting on the previous support zone.
3) Nifty also resting on the Kumo cloud - Senkou Span A.
View :
As long as 10000 holds good, long position suggested.
A breach below 10000 would weaken the long bias.
Jain Irrigation - Bull ready to wake up after long sleep ?Jain Irrigation is now looking for a breakout from 3 & half year long triangle pattern with solid volumes, if sustain then can see 15-20% in next 2-3 months and 50-70% up move from current level in next 1 year, Look for a long trade here with sl as per support line.
PERSISTENT SYSTEM - (LONG) WEEKLY MULTIPLE BOTTOM SUPPORT.Stock price has reached its long term support of multiple historical bottoms placed around 555 on the weekly chart
RSI is placed around 40 and showing some strength.
Stochastic oscillator has reached oversold zone and just crossed its signal line upside, indicating the chances of bullish trend reversal.
Stock is on the verge of forming bullish engulfing candlestick pattern on the weekly chart
So One can buy NSE:PERSISTENT @ 560, for a target of 625 and keep stop loss at 545. - SB7 INVESTMENTS.
Will Nifty follow Sensex & break 9700 to test 9500..!!!?Always Chart Speaks a lot..
Sensex formed nice double top with -ve divergence on RSI & started its downmove.. It has already broken imp supp lvl arnd 31500, similar to nifty lvl of 9700 supp.. Now will sensex reverse & mark as false breakdown or nifty will follow sensex to break 9700 & head to 9500 lvls (Sensex 30750-800).. Interesting moves ahead... my bet is for nifty 9500 if 9800 not crossed & sustained soon.. lets c whats in store..!!
Happy & Safe profitable trading
Anand rathi
@anandrathi12
JPASSOCIAT buyJPASSOCIAT has been doing terrific lately. From the looks of it, it is just getting started!
This stock has been in a sustained downtrend followed by a long consolidation. It is finally looking to break out on the upside by a big margin.
The short term target is 24 at least. Medium term 40. Long 50 at least.
We may want to look for a slight correction only because it has been going up violently. Any dip should be an opportunity to go long.
Since the news of it selling of cement business broke off, this has gone ballistic. There is a lot of pent up aggression left in this and there is a long way to go.
Great buy in cash at around 16 - 17.. and with good timing, a greater buy in leveraged trade for next expiry.
ONGC IOC Enerrgy OversoldONGC specifically has retraced 61.8% of the rally.
Considering the energy sector rallied on Friday in US session, this is likely to bump up on Monday and likely to follow through over next couple of sessions.
165 is the short term target. Leveraged trade for adventurous ones as this is expiry week.
Purely a short term play though. Not buy and hold by any means.
TATAPOWER ShortTATAPOWER -1.51% has been trending in a nice channel.
82 seems to be a good level to go short for a target of 80.
This is also the expiry week so the next four days present a lot of opportunities. This definitely seems a good one for a leveraged trade.
Also, the general sentiment is turning negative or at least neutral for highly positive. That adds to the impetus.
Good risk reward considering everything.
TATA MOTORS LONG - (BUY).Stock price is Trading at long term support of 200 WMA placed around 430.
Stochastic and RSI are Plotted around the oversold zone on the weekly charts
Weekly ADX indicator has turned bullish
One can buy the stock between CMP and 430, for a target of 520, and place stop loss at 420 on closing basis.
IDEA - LONG - SHORT TERMThe RSI is placed at 37. It is bounced back from 31 levels and showing some strength.The 200 DMA is Acting as Resistant. Stock has Tried to Break the 200 DMA Resistance few days back and Failed to Break it. It is going to Test the 200 DMA as the RSI is indicating a Support at 37 which is bounced back from 31 levels. So one Can Initiate LONG on IDEA at CMP for a Target of 89.45 With a Stop loss Placed at 82.9.
Alert: Nifty heading SouthAlert: Nifty_50 heading South
Hi All,
Trading Sessions Left for Expiry - 4 Days
This April expiry 27Apr may turn ugly for Bulls
Trading_on_Algo_principles NIFTY17APRFUT looking fragile
Breaking of 9000 is on cards
But will provide levels in live markets in case numbers are playing their maths
Note: *Other Red,Green,Blue levels are only for Nifty_levels_to_watch_for_24Apr2017
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