US Market Ready for next flight to stratosphere

Here is nasdaq and snp 500

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

The Grains Post

Here is a look at key Grain charts globally:

1. Rice
2. Oats
3. Soybean
4. Wheat

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Adani Enterprises: Inverted Head and Shoulders

The weekly charts look very promising.
Here is Adani ent.

Weekly chart: Close Up: Major weekly EMA crossover, support from key high volume weekly candle, nice weekly breakout from a trianglish decline, MACD crossover.

Bit a longer term chart now:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

MCLEODRUSSEL: Elliott Wave

McLeod Russel is all set to head to moon. The stock is making possibly a 'continuation head and shoulder'. I reckon the stock which is now trading at Rs. 260 can reach 400. In fact on a longer term, i am turning to be a major bull on the stock.

Here is the chart daily and weekly:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Bank Nifty Weekly : Elliott Wave Analysis

In continuation with my yesterday's post, here the analysis for Bank Nifty,

The move down on the bank nifty from Nov 2010 was steep, but the waves were too inter-tangled to get an impulse down, hence I am now thinking the move down was rather an ABC-X-ABC-X-ABC (triple combination).

Here is the EOD and the Weekly chart on Bank Nifty

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Quick Post: POTATO intraday (5 min Inv HnS)

Nice inverted HnS on Potato-MCX

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Commodities & Currencies Post: 7 Mar 2011

Here we go:

AUDUSD
EURO
GOLD
SILVER
COPPER

All notes on charts:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Silver: Giant Head & Shoulder

Here we go with Silver and its huge Giant Head & Shoulder.

Of this baby comes off, we shall be on the moon with silver. I will post a detailed chart later, but this how things look.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Agro Commodities Charts: Gargumjdr & Garsedjdr

Here is a look at interesting chart: Gargumjdr & Garsedjdr
Note on Chart

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Nifty: 27 Aug Intraday Update

Alternate Count: A break of Neckline at 5490, shall suggest a target of 5520 approx. With a possibel HnS and a retracement of about 80% for wave 2.

Preferred: Assuming wave 2 is complete at 5490 which retraced upto (iv) of 5 (38.2% retrace). Under that scenario we are wave of 1 of (3) down, with a target of 5346

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

A Currencies Post.: INRUSD and EURUSD

INR USD
Well INR got its new symbol and is ready to rock.
Longer Term chart of INRUSD


INRUSD has entered Primary degree wave 3 up with a target of approximate ~65 to USD. This is a very aggresive target so I have broken down the targets to Intermediate and Minor.

I am considering INRUSD to reach first 48.82 (cmp 46.82), with a Stop Loss of 45.70.

INRUSD Wave Count:

 HnS and Cup and handle

Refer chart for comments:

A larger Inverted HnS and Flag possible:

EUR USD
Some time around in May I had done a post on EURUSD titled "EURUSD Monthly HnS", showing a larger Monthly HnS. Well, time has passed and seems EURUSD is done with Neckline Testing and is headed south.

This is updated chart of EURUSD. Refer chart for comments.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Stocks: LT, Sugar Stocks, Praj Industries, BHEL

In continuation with my previous post on Nifty (bullish) with Cup and Handle picture on Nifty anda target of approx 5508, I am posting stocks which are givng breakout, but can rally further.

LT: Inverted HnS (giant)
Is this an inverted HnS or what !!!!

Target is 2000, cmp is 1724 and SL would be 1680.

Sugar Stocks:
Looks like somebody found a bottom.

Bajaj Hind: - Cup and Handle and EMA Crossover:

There is a cup and handle structure on Bajaj Hind with a target of 130. Sugar seems to be goin up and sugar stocks are something to hold. 

Renuka Sugar:

Renuka Breakout today. Potential target of 80 with SL of 60

Praj Industries:
This is a possible breakout candidate. The stock has a very low ATR of 2.86. The bollinger band has contracted. Today was a good doji - bullish one with increase in volumes and break above today's high of 80.70 could suggest a target of 88 on the stock considering a possible triangle structure. Plus, today there has been a basic EMA crossover of 5-13. Now, tomo a crossing 34 EMA at 81.42 (cmp 80.20) can be good trigger for the stock. One more important fact, I see is the fall from 5th may was marred with low volumes, very stable volumes, no spikes suggesting unusal selling.

EDIT: Addition:
BHEL
Alogn with bullish LT, there is a possible Cup and Handle in BHEL. The price of BHEL is 2400, the target is 2500 (rs. 100 up). The stock has done a cup-lip testing. Plus, ATR is stable. On 10 June, stock gave 5-13 EMA crossover, with breakout. Seems todays testing phase of cup lip of the stock is done.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Nifty 10 June Intraday Update

Break above 5040 could be an inverted HnS with target of 5140 (100 points distance between Neckline and Bottom of Head. This shall be further alternate scenario to yesterday's chart, where 4940 can be an X wave and we may make a direct double combination structure up. But break of 5040 and retest fo Neckline shall be able to give a better picture

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Nifty Scenarios

As is pretty evident from my previous posts, i am bearish on market. But, then i am trader as well, and look at both sides of the story or both sides of market.

So here i present two scenarios: these are 60 minute charts

Bullish Scenario:

 Bearish Scenario:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Tatasteel : Update 29 Apr

refer tatasteel chart for Comments:

Tatasteel above 637 can do 646 - 652

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Nifty Intraday Update: dated 23 Apr 2010

Intraday update:

Nifty Hourly charts is at cross roads:

Today's price action seems to form an Inside day and price action with break outside the yesterday's EOD candle range shall be High of 5341 and low of 5217.

60 Minute Chart:
a. Triangle with max with of 90 points:
The todays inside bar, is making a triangle formation on the Sixty minute chart. Any break on outside of triangle, can lead to thrusting action outside triangle and Nifty is expected to travel 'the maximum width of triangle' = 5340 - 5233 which translated to roughly 90 points. So either break of line A or Line B, Nifty can do 90 points. (ref 60 min chart)


There is also possible Inverted head and shoulder type of formation. The NECKLINE, can also a major upside resistance, and break out of this would set for new highs, possibly (5350 - 5160) 190 points from point of breakout / neckline. Assuming breakout at 5330, it would translate to 5520, very which approx 80% retracement of the down move, and possibly wave e of this leg.

Wave Count on Nifty

The following chart shows, the yellow count as primary count. I was thinking at 5400 could be the peak of Ending Daigonal, but i decided to forget one rule on ED, that the 'e' wave or '5' wave of ED always overshoots the channel, in that case, we could see nifty at 5500.

However, break of 5160, could push nifty into wave iii down.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Ranbaxy: Upside Potential (Inv HnS)

Inverted  HnS in Ranbaxy. Target of 520 possible with stoploss of 444. 

 

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Petronet: Major Head and Shoulders

Major Inverted Head and Shoulder takes place, today's candle action. The stock has now reached 82. Like my friend Mayur says, this one has ran up up like a "Fox Terrier" from Rs. 60 to Rs. 82. This looks a very text book Inv HnS, the with target of Rs. 50 plus from 80 to reach a target of Rs. 130.
The SL can be Rs. 70.

This pattern is big, but donot know abt its success. It needs to be watched whether this wull work of be a Failure pattern. In case of failure, then it will major disaster for stock. 

Educomp: Follow-up post.. Inverted HnS in intraday, EOD more power

Had posted on blog that Educomp is poised up move on 6th Jan 2010 mentioning a case for falling wedge / triangle breakout.
The stock is moving up today, it consolidated for three days. Intraday chart suggest buying with SL of 785 for a target of 830. The current price of 792.

Stock Ideas: Relcapital; Max India

I am combining two financial companies here: relcapital and max india. both have insurance as their business among other business and both are teasing major breakout levels.

Reliance Capital : CMP 917:

Stock on important crossroad
upside: Long with SL of 850
Target 1200-1300

short trade: Short now: with SL of 930, and reverse above 930 for target of 1200.
Refer commentary on chart..

Downside reverw below 850 target sub-700 levels

Max India: CMP: 221
The stock made a high of 235, however last 4 candle have been bearish candles. Today stock is up, however sustenance of the same needs to be seen. The stock is in short term bearish-ness however, keep an eye on this stock, there is massive Inverted Head and Shoulder.
Long term bull, short term pain. Close above 235, could make a mini-Inverted HnS with target of 235. 
Good support at 200, possible reversal level

Disclaimer: This is my personal view based on technical analysis. Take ur own call, this is not a financial advisory, always use stop loss.