Nar

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Namo Tat sat
Markets Allocation
88 % stocks 9 % indices 3 % other
Top Mentioned Symbols
HDFCBANK 6% | 2 EDELWEISS 6% | 2 VEDL 6% | 2 RELIANCE 6% | 2
Nar Nar INFY, W,
INFY: Double top INFY Weekly
51 0 2
INFY, W
Double top INFY Weekly

Infosys is been under lot of pressure lately. The double top has formed and it is close to it support levels at 950. The A/D indicator does not confirm the sharp move seen in the stock and the RSI is also close to 40. Recommend to watch this stock next few trading sessions. Long if it moves firmly above support levels with high volumes. Target 1040. Short if it ...

Nar Nar BHARATFORG, W,
BHARATFORG: Cup & Handle
82 0 5
BHARATFORG, W
Cup & Handle

Bharat Forge weekly is showing a nice cup and handle formation. Buy can be triggered on the trade above the breakout level of 1100. Expected targets are 1330 and 1430.

Nar Nar VEDL, D, Short ,
VEDL: Triple Top?? VEDL
82 0 4
VEDL, D Short
Triple Top?? VEDL

Possible triple top formation for VEDL. I say possible because prices are still rising. I would advise keeping your stop loss at 270 levels to avoid any surprises with upward movement. Wait for price to fall below 242 levels before entering this position

Nar Nar TATACHEM, D, Short ,
TATACHEM: H&S - TataChem
50 0 3
TATACHEM, D Short
H&S - TataChem

Tata Chemical is showing head a shoulders pattern. Expect downwards movement to 545 levels. This is also confirmed by the MACD falling below the signal line. The short term chart (thanks to Vanati) shows a descending triangle pattern with a dead cat bounce. https://in.tradingview.com/i/GCYouS86/

Nar Nar RELIANCE, D, Short ,
RELIANCE: Reliance - Short
58 1 1
RELIANCE, D Short
Reliance - Short

Stock has shown a nice upward trend past several days followed by a correction event past three trading days. Spinning top is indicating some exhaustion from the bears, so expect a slight pullback. However the weekly charts paint a clearer picture depicting a shooting star formation with the high point of 1328 that is the edge of the 20 week moving average. So I ...

Nar Nar RELIANCE, W, Short ,
RELIANCE: Reliance
35 0 1
RELIANCE, W Short
Reliance

Look at my other post for more details

Nar Nar HDFCBANK, D,
HDFCBANK: Both sides on HDFC
38 0 2
HDFCBANK, D
Both sides on HDFC

Presents a great trade here. In the next week stock is likely to see a pullback to the 1320 levels as confirmed by the oversold indicators and bearish harami on the weekly charts. Also given its sharp run up a pull back is in the offing. Any dips below 1330 is a great opportunity to buy. There is a slight resistance at 1320 levels also. So this week good shorting ...

Nar Nar SUNPHARMA, D, Short ,
SUNPHARMA: Bearish Engulfing - Sun
52 0 4
SUNPHARMA, D Short
Bearish Engulfing - Sun

For almost three months Sun Pharma has remained range bound between 620 and 680 levels. The candle stick depicts a bearish engulfing pattern. This is confirmed by the gap up opening the day before and the length of the candle today. I am mildly bearish on the stock. I would recommend selling ITM call option (680 levels) and buying OTM call option (740 levels). My ...

Nar Nar EDELWEISS, D,
EDELWEISS: Edelwiess
21 0 1
EDELWEISS, D
Edelwiess

We saw the bearish candle stick pattern, Dark cloud cover for Edelwiess. The recommendation was to short this stock . Today there was a tug between bulls and bears spinning top formation. In the end the stock has closed in positive territory. I missed the opportunity to buy at 138.40 early in the day (my offer was for 138.50). However, when I entered the bulls had ...

Nar Nar INOXWIND, D, Short ,
INOXWIND: Inox - Wind(ing) down
22 0 2
INOXWIND, D Short
Inox - Wind(ing) down

Inox wind has shown a classic descending triangle pattern. The stock has also been performing poorly vs. BSE 500. Despite the recently concluded bull run, the stock did not get any traction. The accum/Dist chart also confirms overall weakness. The stock may be on the way to its life time lows.

Nar Nar SANOFI, D, Short ,
SANOFI: Descending triangle - Sanofi
6 0 2
SANOFI, D Short
Descending triangle - Sanofi

The stock is showing strong support at the 4080 levels. The current pattern shows a descending triangle, constantly testing this support level for the past 3 months. The descending triangle is showing exhaustion as indicated by the Accum/Distribution trend. The A/D is a leading indicator that takes into account volume aspect of the trade as well. One should expect ...

Nar Nar EDELWEISS, D, Short ,
EDELWEISS: Edelwiess - Dark Cloud Cover
28 0 1
EDELWEISS, D Short
Edelwiess - Dark Cloud Cover

This is a classic pattern that has formed with Edelwiess. This dark cloud cover pattern meets all the criteria that you would look for while trading such patterns. 1. The previous white candle body is long 2. There is a recent spike in volumes in the earlier trading ranges 3. The previous white candle has a gapped up opening 4. Stochastics are at an overbought ...

Nar Nar ARVIND, W, Short ,
ARVIND: Is Arvind ending its bull run?
51 0 4
ARVIND, W Short
Is Arvind ending its bull run?

Technical indicator shows exhaustion of the Wave pattern. This is confirmed by the divergence shown between MACD and price indicator. Relative strength of the chart is also showing weakness. The volumes also have remained relatively flat with slight downward slope. All this confirms that the stock is a good candidate for shorting. Will confirm with the daily ...

Nar Nar VEDL, W,
VEDL: Vedanta Dow theory
104 0 2
VEDL, W
Vedanta Dow theory

Last time I touched on Vedanta for short term opportunity. The weekly chart is showing a classic pattern based on Dow theory. Clear consolidation phases and markup phases. Let's see if this holds up.

Nar Nar INDIAVIX, W,
INDIAVIX: Budget opportunities Nifty
40 0 0
INDIAVIX, W
Budget opportunities Nifty

This time around the budget is more special than usual years, it is the budget after demonetisation and is coming one month earlier than usual. As seen in the chart and the green boxes the volatility usually peaks during the budget, this time we should expect no different. Another point is the strong negative correlation between the India Vix and Nifty. So good ...

Nar Nar TSLA, D, Short ,
TSLA: Tesla Making Waves
29 0 1
TSLA, D Short
Tesla Making Waves

Tesla has been moving steadily following a wave like pattern over the last three years. This involves rising wave followed by channel movement. The movement of the stock one direction or the other is very swift indicating high volatility of the stock. The weekly charts show a similar trend. The RSI is currently oversold and long term trends show a slow down in the ...

Nar Nar OBEROIRLTY, D, Long ,
OBEROIRLTY: Long term Fundamental Stock Oberoi
36 0 0
OBEROIRLTY, D Long
Long term Fundamental Stock Oberoi

Oberoi realty has quite a brand name in Mumbai and its projects always attract a premium. After a great annual result with over 50% sales increase the price zoomed 17% in one day. The stock continued to show strength with steady increase reaching 360 levels. That is a annualized 70% return. However post demonetization saw a strong correction retracing to 260 ...

Nar Nar METAL, M, Short ,
METAL: Metal Index Long term analysis
21 0 1
METAL, M Short
Metal Index Long term analysis

Metal stocks have shown long term weakness with respect to BSE500, with support at 6000 levels. Another interesting point to note is that the index has short upward cycles but downward trends tend to drag out for 2 to 3 times the timelines of the upward trends, notable exception being the trend between 2005 and 2008. Both the MACD and the relative strength ...

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