mklives

mklives

NIFTY. is inside a short erm triangle with FM meet after market hours today, nifty can go either way.. wait for break on either side for trade..

mklives

IGL has tested its previous high and dropped current it is an rising wedge and looks like has broken it short at cmp or on rise with SL at 336

mklives

HDFC pullback from 200 dma seems to be over and closed 20, 100dma and also below cloud support the cloud will act as resistance and might push the stock down..

mklives

Nifty on weekly is currently below the 100 weekly dma and also morei mportant below the weekly CLOUD. also it is at Monthly 20 dma. a critical area if the weekly close happens below the cloud, could signal pending weakness, unless it manages to go into the cloud, signalling support taken.

mklives

Maruti respcting channelm rejected at weekly 20 dma

mklives

BANK NIFTY today closed below its 100 weekly mov avg. previous instances it has rebounded around this zone but it has also broken the trendline from the 2 previous instances. this week and next week are crucial to see if we get a bounce

mklives Updated 

Asian Paints , a night mare for shorters in august (including me) as it just kept going up. Made a new high on clear divergence in RSI Price will not be able tp sustain at these levels for long. wait for a break of Tenken (blue line). expecting a correction to 20 dma sometime and lower to test Kijun Sen (maroon line). its a positional call. targets 1580 1550 1530

mklives Updated 

BPCL. current pullback is heading into resistance of 200 dma and 50 dma at 357 and also cloud resistance around 360. look to short around 357-360 for target of 345

mklives

BATA INDIA.. one of the gems in the struggling market likely to face stiff resistance around 1600 zone. wait for rejection to enter trade..

mklives Updated 

SUNPHARMA after a long time, is crossing 200 dma news about the whistle blower went in favour of the company can be a contrarion bet in a weak market above 441 close, can give 10 % returns possibly.

mklives Updated 

INFOSYS couldnt sustain at life highs and had a sharp crack. likey to test gap support or fill the gap. time will tell

mklives Updated 

SBI opened gapped up and then couldnt sustain at important levels of 288 289. it has lot of resitance around 290 area. once above it can test 300 305. with the market turning positive,, SBIN can fire up and fill the gap in September around 310. buy on dips in sept series would be a good bet

mklives Updated 

Nifty after a steel fall , recovere dintraday ahead of FM meeting about FPIs tax. since the meeting was mixed bag about the tax or derivatives etc, nifty monday morning open will be difficult to judge adding to the fact US markets tanked over night thanks to china and also crude crashing. whatever the move has to cross and close above the resitance lines...

mklives Updated 

BANK nifty had a big move today on short covering. FIIs sold in the market where as DIIs bought. Kinda dubious data. Bank nifty next resistance is marked by two red lines, which also is the region of the 200 dma. that can be a tough resistance to cross at one go after a strong pullback from friday intraday. look to short around the 200 dma resistance zone

mklives Updated 

RELIANCE closed in the negative in a strong day for the market. it couldnt cross 100 dma which is also the weekly 20 dma reliance buy is only when it closes above 100 dma.. gap support of the AGM news 1227 1226 is acting as support for now.. if it breaks 1226 it can fill the gap to 1180.

mklives

Tata steel has fomred hidden positive divergence. any dip to todays low or around 330 332 can be used to buy with a Sl below todays low. expect 370 as a target.. or to test 20 dma at some point

mklives Updated 

TATA STEEL. highly oversold.. nearing long term support. expectation a bounce from 330s zone for for a 5 to 10% move..

mklives

BANK NIFTY on weekly charts looks scary bearish, though it is near trendline support on weekly charts, looks very weak and can easily breakdown to 100 weekly mov avg... now is not the good time for investments. better to wait for a year or so for much better entry levels