INDIGO SHOULD BE CONSIDERED FOR GOING LONG ONLY WHEN THE PRICE REACHES 1560 LEVEL. THERE IS INDICATION FROM THE BEAR FLAG FORMED ON 03 SEP. 1719 IS TRIPLE TOPS FORMED DURING THE CURRENT PERIOD, AS PREDICTED / INDICATED IN MY POST ON 1 SEPT. SUPPORT IS AT 1600, BUT THIS TIME IT MAY GO DOWN TO 1560 LEVEL.
RIL IS READY TO GO UP TOWARDS 1300 LVL. IT IS AT 50% OF THE EARLIER RISE. THERE IS AN INVERSE H&S PATTERN OBSERVED AT 1304 NECK LINE. ONCE IT CROSSES 1300, THEN 1400 IS THE NEXT TARGET. TIME PERIOD ONE MONTH.
THE NIFTY IS SLOWLY COMING BACK TOWARDS THE NECK LINE. MAY BE THE GOVERNMENT INTEREST IN RECTIFYING THE ECONOMY SHOULD SEE RENEWED BUYING. THE INDEX IS LIKELY TO MOVE TO 10,998 / 11,021 / 11,043 AND 11,150. IT SEEMS MARKET WISHES TOWARDS THE NECK LINE (@ 11113) BUT WAITING FOR STIMULUS.
PLEASE SEE THE CHART FOR TARGETS.
FROM THE DAY CHART, A BUY SIGNAL IS GENERATED. BUT, THE REAL MOVEMENT IN THE VALUE CAN BE EXPECTED ONCE IT TRADES ABOVE 10,780. THEN TARGET OF 11,090 IS SEEN. IF IT CROSSES THE PENNANT FORMATION UPSIDE, THEN 12,000 & 13,000 LEVELS CAN BE EASILY EXPECTED.
PI INDS DAY CHART SUGGEST THE SHAE PRICE IS INTERESTED TO GO FOR NEW HIGHS. LET THE TRADING BE DONE ABOVE 1230 LEVELS, THEN ENTRY CAN BE DONE WITH A MEDIUM TERM TARGET OF 1400.
ICICI PRU HAS ACHIEVED THE TARGET 420 (POST ON 19JULY) AND IS MOVING WITH HEAVY BULLISHNESS. THE NEXT TARGET IS PLACED AT 454 WHERE IT IS LIKELY TO ENCOUNTER A HUGE RESISTANCE. NO NEW INVESTMENT IS PRUDENT. IF POSSIBLE ONE MAY CONSIDER BOOKING PARTIAL PROFITS / COMPLETE EXIT AT THAT LEVEL.
TCS HAS MULTIPLE TOPS AT 2285 LVL. ONE MORE TIME, IT CAME BACK FROM THAT LVL. THE PRICE LEVEL IS EXPECTED TO REACH 2180 IN THE COMING DAYS. ONE MAY TRY TO ENTER AT THIS LEVEL, AS THE SHARE PRICE IS MOVING IN AN UPWARD WEDGE.
AS MENTIONED IN MY 29 AUG POST, LUPIN HAS RISEN TO 760 LVL. IT SEEMS TO ENCOUNTER RESISTANCE AT 780-787 LVL. BE CAREFUL AT THIS LEVEL.
DAY CHART OF USD-INR SHOWS A ROUNDING TOP FORMATION. THE EXCHANGE VALUE IS COMING TO 71.55 / 71.44 AND 71.3 IN THE COMING FEW DAYS.
AS INDICATED IN MY POST (30 AUG), THE PRICE CAME DOWN TO 55 AND THEN STARTED MOVING UP. IT HAD REACHED A HIGH OF 62 ALSO FROM THERE. APPRECIATION OF 10% WAS ACHIEVED. AT PRESENT, IT HAS MULTIPLE BOTTOMS AT 55. ONCE IT CROSSES 67 LVL, THEN 73 IS SEEN FROM THE CHARTS. ALSO, IF IT IS FORMING A ROUNDING BOTTOM, THEN 80 IS THE NEXT TARGET ON HIGHER SIDE. EARN IN...
BANK NIFTY SEEMS TO BE IN A COMPRESSION MODE WITH A TOP AT 31781 AND HAVING SUPPORT ALONG THE INCLINED TREND LINE (FROM 2017). IT IS ALSO OBSERVED THAT WHENEVER BN HAD DOUBLE TOPS IT REACTED BY 4000+ POINTS AND STARTED GOING UP. ALSO, IT APPEARS THAT AFTER TAKING SUPPORT AT PRESENT LEVELS, BN SHOULD GO BACK TO 31781 IN THE LONG RUN. FOR THE PRESENT, THE TARGET...
INDIGO IS MOVING TOWARDS 1700 AND RESISTANCE @ 1720 (SEE MY POST ON 17TH AUG). ONCE THIS LEVEL IS CROSSED, THEN 1800 IS THE NEXT ALTITUDE. THERE WILL BE AIR BUMP AT 1720 LEVEL. FOR SAFE HIGHER ALTITUDE (1800) LET THE RESISTANCE BE CROSSED.
BANK NIFTY SEEMS TO GO TO 28,143 LEVEL. THE CROSSING AT 27,680 IS IMPORTANT. LET US HOPE MARKET REACTION WILL BE POSITIVE FOR FM'S ANNOUNCEMENT ON FRIDAY.
NIFTY FORMED A DRAGONFLY DOJI ON FRIDAY. AS INDICATED EARLIER, THE INDEX SHOULD TOUCH 11113. ON CLOSING ABOVE THIS LEVEL (NECKLINE FOR AN INVERTED H&S) THE INDEX SHOULD GO UP TO 11,300 LVL. WEEK CHART DOES INDICATE THE SAME.
AXIS BANK HAS A VERY GOOD SUPPORT AT 643 LVL & A VERY GOOD RESISTANCE AT 683 LVL. AS PER DAY CHART, THERE SHOULD BE A PULL BACK UP TO 680 LVL. AND, IF THIS IS CROSSED, THEN 717 IS THE NEXT RESISTANCE LVL. MONTH CHART INDICATES A DOJI FOR AUG MONTH. AND, IF THE PRICE PULL BACK HAPPENS, IT CAN BE ALSO UP TO 721. SO, WITH A SUPPORT AT 643 AND RESISTANCES AT 683 &...