Bullion Update

Bullion after giving tremendous boost to our portfolio, has corrected a bit. In an attempt to find

next possible entry level, I had tried three parameters. Surprisingly the level around

$1100 seems to be the common support level.

The Fibonacci support( Blue lines) , Bollinger Band ( Red) & Trend line (Green) seems to be

converging near $1100.

Presently Gold is around $1130, so chances of getting around the support level are more in this

week itself.

Nothing in this post should be considered as an investment advice. Readers can draw their own conclusion about the promise and potential.

Please go through the Disclaimer.

P.S : A special thanks to YashRaj for call outs feature.

Bharti & IBReal target achieved.

Bharti Airtel has achieved the 2nd target. Partial profit can be booked & remaining position can be held with trailing stop loss.

IBREAL has also acheved the first target of 226, now will wait for the second target to hit.

Stop loss has to be maintained on daily basis.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

Post update

Bharti( 304) has reached our first target of 300, partial booking is advisable.

Ibreal(214) also nearly reached our target of 215, again same here partial profit booking is advised.

Tata steel ( 584) racing to the target , one need to use trailing stop loss.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

Tisco - Retracement Target

It can be noted that Tisco has taken support from two previous retracemetn support @ 432 & @ 525.

Tata steel ( 556) next level can be 616 - 620 as per retracement on weekly chart.

Stop loss of 531 is must for the trade.

Please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

IBREAL - POSITIVE DIVERGENCE

As shown in the chart, there is a positive divergence between price & RSI on daily chart.

Ibreal(208) has an retracement resistance around 209 -212, above which the levels are

226 , 240 & 253.

Combining the two scenarios, IBREAL( 208) looks good for the target of 226( t1) & 240 (T2) with the stop loss of 203.

please go through the disclaimer mentioned elsewhere on the blog.

Disclosure : I am holding the positions in above mentioned stock.

BHARTI AIRTEL - WEEKLY SUPPORT

Bharti after breakin trend line support @ 330 has drop down to its next important support @ 271.

On weekly chart, the support is around 270 region, from where bharti can bounce back to 300 , 325 level.

Below this support, bharti can go back to 200 odd level.

Please go through Disclaimer on this blog.

Disclosure : I am holding positions in Bharti.

Nifty - Fibonacci Support

Nifty has Fibonacci support around 4690 & on friday Nifty has bounced from same level.

Lets watch how strong support it can be & how high the ball( read Nifty) will bounce.

Mondays bank holiday has given a life line to the support. At this time Dow has hit a century

(102) points in positive.

Bharti Airtel - TRend Line Support

On weekly chart, Bharti has a solid support of trend line @ 325.

Watch out for a bounce from this level. Stop loss below trend line is must for the trade.

Disclosure : I have positions in this stock for myself/ associates.

Please read Disclaimer on this blog.

Rpower - Fibonacci ratio

Rpower has good support @ 160 & can bounce back from here. It has already taken support twice in this region. Lets watch .

Kindly refer Disclaimer mentioned in this blog.

Disclosure : I/ Associate has positions in this stock in cash & derivative segment.

POWERGRID - Triangle breakout

Powergrid(109.50) has formed triangle on a daily chart. A break above 113 can target Rs.126 -128 level.

Also it has formed Candle stick Hammer, indicating a temporary bottom. A green candle tomm. can confirm this move. Stop below todays low is must in this volatile market.

Disclosure : Its safe to assume I/ Associate has positions in the above mentioned stock.

Disclaimer : Please read it mentioned elsewhere in this blog.

RPOWER - Positive divergence

On daily chart, RPOWER(163) has positive divergence with RSI has shown in above chart.

Looks good for the target of 182. Stop loss of 156 is must.

163 is a good Fibonacci support.

Disclsoure : I/ Associates have position in above stock in cash as well as Derivative segment.

please go through the disclaimer mentioned in the blog.

Gail - moving in a Trend Channel

On a daily chart, Gail is moving in trend channel.

for last three days, it has taken support at lower band of channel. One can take position with stop loss of 343 for a target of 380- 390.

Please go through Disclaimer on this blog.

Disclosure : Its safe to assume i have positions in the above said stock.

Nifty Update : Red Candle @ Bollinger Band resistance

A big red candle with shadow touching the upper band of bollinger.

Caution ahead.

Disclosure : I am holding Short positions.

Disclaimer : Pl read the disclaimer mentioned in the blog.

Nifty - still under the shadow of Hanging Man.

Nifty managed to close in a green is an achievement in itself, yet it has not overcomed the shadow of Hanging Man.

A red candle on thursday will confirm the bearishness.

Lets watch closely & stay on our heels.

:)

Disclosure : I am holding short positions in Nifty.

Disclosure as mentioned in this blog.

Nifty - Bearish Candlestick Pattern

Nifty has formed bearish Hanging Man pattern on the daily chart with negative divergence with RSI.

Also, 4798 is a key level & nifty has barely closed above it.

Disclosure : I have short positions in Nifty.

Please go through the disclaimer mentioned else where in this blog.

TATA ELXSI - UPDATE

Price has retraced to break out line. Prices is ex dividend of Rs.7/-

Partial booking @ 170 is an good idea. for remaining quantitiy Use stop loss of 161. Keep trailing stop loss till it gett stopped out.

Please go through disclaimer mentioned elsewhere on the blog.

Disclosure : I hold positions in this stock.

Nifty - Time to slow down & watch

Nifty Fibb target of 61.8% is around 4780 & from here on there are chances of correction. To support this view i have posted daily chart of Nifty where there is a clear negative divergence with MACD.

Week starting from 17th August can be decider. Lets Watch. :-)

Must watch this week is Tata Elxsi & Kaminey

Updating from the last week post on Tata Elxsi, price has broken above the line & 1st target of 185 is easily acheiveable. Point to remember is Tata Elxsi is getting exdividend on 21st August & the dividend is 70%. So it can be double bonanaza, as in Kaminey it is double bonanza to watch Sahid in double role & not to mention Piggy Chops ( though not my personnal favourite).

Fundamentals of Tata Elxsi are excellent & so is the films story line.

Script is from a trusted group & the film is from one of the best director Vishal Bhardwaj.

Bottom Line : Watch Kaminey & Tata Elxsi for double dhamaka. :-)

Disclosure : I have positions in Tata Elxsi but no positions in Kaminey.

Disclaimer : Please read it mention elsewhere in the blog. I hold no responsibility for the swine threat in the multilexes & theatres ;-)

TATA ELXSI - CUP AND HANDLE PATTERN

TATA ELXSI has formed an cup & handle pattern on weekly chart. Break out above the line can achieve upside potential of 185 & 225. Stop loss of 145 ( marked in red circle) should be observed.

Disclosure : i personally hold the positions in this stock.

Please go through disclaimer on this blog.

NTPC - Trending channel.

NTPC is moving in an upward trend channel on weekly chart, with upper band around 250. Stop loss of 193 is essential on closing basis.

Nothing in this post should be considered as an investent advice.

Please go through the Disclaimer & Disclosure mentioned elsewhere in this blog.

Tata steel - Cup and Handle pattern

TATA STEEL is forming a cup & handle pattern on weekly chart. Break above 470 with volumes can acheive the target of 520. Stop loss of 434 is must.

This is not an investment advice & is mere for an information.

Please read Disclaimer & disclosure mentioned elsewhere in the blog.

Nifty - Fibbonnaci Fan lines support

Nifty has Fan line support. Lets see whether this support holds on monday. :-)

Please go through Disclaimer & Disclosure elsewhere in this blog.

Idea - Positive divergence

Idea is having a RSI positive divergence on a weekly chart.

Nothing in this post should be consider as an recomendation.

Normal Disclosure & Disclaimer mentioned elsewhere in this blog should be noted.

Bullion : Inverse Head & Shoulder

Gold has formed a Inverse Head & Shoulder Pattern which is bullish Reversal Pattern.

Convincing Break & couple of close above $976 can target previous high.

Only catch is this pattern is genrally formed at the bottom after a lengthy down fall, yet in this case it has been formed almost near the previous top. This makes the success of the pattern a doubtful case.

Time Knows the truth. :-)

Regular Disclaimer & Disclosure to be read, mentioned elsewhere on this blog.

Nifty - Fibonacci Support & Resistance

Nifty - Fibonacci ratios indicates a target of around 4763 (61.8% of total correction).

Will it be achieved straight off or 50% & 38.2% support line will be tested first.

Carring positions with perfect & strict stop loss is must.

Enjoy. :-)

Regular Disclosure & Disclaimer to be read from the blog mentioned elsewhere.

Nifty - 200 EMA

Nifty is facing resistance at 200 EMA around 3510 -15 level. Nifty needs to close above it for couple of days, to reach higher targets.

If reacted from this level, it will form a double top, a bearish pattern.

Still almost 3 hours are there for close of day. Lets watch. :-)

Gold : Trend Line Channel

Trend Line was broken intra day basis, but Bullion finally closed above the trend line & yet another time , trend line has saved the bulls.

Gold is moving in a channel & likely to meet the upper band around $980, currently trading at $ 952+.




Readers can draw their own conclusion about the promise and potential.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/ Commodity for myself/ family members / friends.

Gold ( Bullion ) Technical Trend Update

Trend Line is been tested & presently Gold is trading @ $911. As long as Gold stays above the trend line there are chances of making new high.

Stop loss should be placed below the trend line on closing basis.

Readers can draw their own conclusion about the promise and potential.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/ Commodity for myself/ family members / friends.

Gold - RSI Indicator Bullish cross over

As mentioned in previous post, Relative Strength Index is about to give a bullish cross over its signal line.

More over, the band & the trend line seems to be converging around $890 level. A bounce can be expected from this level.

Have a watchful eye on Candle stick formation around this level for a good entry. Stop loss is must in this volatile market.

Readers can draw their own conclusion about the promise and potential.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/ Commodity for myself/ family members / friends.

Bullion - Update

Bullion ( gold ) breaks below the neck line & the Head & shoulder pattern was negated.

Still it is in uptrend & will remain so untill it breaks below the blue trend line.

Further down it has support at $850 also.

RSI is about to give a positive break out. Watch out for confirmation.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/ Commodity for myself/ family members / friends.

Bullion - Head & Shoulder Pattern Updates

Gold has broken the Neck Line & touched the upper band & is reacting.

If Gold retraces back to the neck line & moves up again, probability is it will move ahead of all time high.

With Re weak against Dollar, there is a double impact in Indian market.

People, especially women are selling gold ornaments to cash in on the rally. But is it prudent?
Is this the top or we are still in the middle of a rally? :-)
International Elliot Wave Gurus has something else to say.
Well, more in the next post.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/Commodity for myself/ family members / friends.

Bullion : Reverse Head & Shoulder Pattern

Bullish Reverse Head & Shoulder Pattern is been observed on daily chart of Gold.

Probability is price may retraced back to the trend line before moving north , i.e around $960.

After confirmation signal, gold can touch its all time high.

Readers can draw their own conclusion about the promise and potential.


Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/commodity for myself/ family members / friends.

Index Outlook - Indicators, Elliot & Time Analysis

On Daily chart, MACD is about to break in positive zone with RSI already above trigger line,
Nifty is all set to achieve the upper band of 3050 - 3070. Stop loss of 2860 is must in this volatile time.

As per Elliot Experts, Sensex can go upto 9770 as a part of C5 wave. Also it coincides with 62% retracement. If it is able to cross this level then next target can be 10200 level.

Time Analysis indicates a bottom around March, & as per the Elliot Wave the bottom can be around 6200.

Readers can draw their own conclusion.

Please go through Disclaimer on this blog.

Disclosure: I may have position in above said stocks/index for myself/ family members / friends.

TATA STEEL

TATA STEEL around Rs.202 looks good to acheive the target of Rs.228, maintaining stop loss of Rs. 187 & trailing.

Readers should draw their own conclusion & take appropriate action.

Disclosure: I have position or maybe trading in above said stocks/ commodity for myself/ family members / friends / Associates.

Please go through Disclaimer on this blog.