April 30, 2010

NIFTY WEEK CHART
  • NIFTY WEEK chart is trying to form a pennant formation. 
  • break of the upside line can give at least 550 points.
thank you
NIFTY DAILY CHART
  • NIFTY range 5200-5325.
  • break of 5200 can take it to 5090.
  • break of 5325 can take it to 5444.
  • Break on either side should be on a closing basis.

April 29, 2010

BANK NIFTY
  • BANK NIFTY is trading near resistance line.
  • rising support line should support any fall and the bullish engulfing should also support the bulls view.
  • breaking the support line will bring the index down to 8000 levels.
  • breaking resistance line will propel the index to 10000 levels.
Thank You


  • HDIL is trading near the bottom of the channel.
  • one can go long with a stop loss of 258 for a target of 285 minimum.
  • channel lower boundary should be the stop loss. The reason for this trade is the channel, If the reason is not valid don't stay in the trade.


  • NIFTY has broken down from the triangle formation.
  • Now smart traders will look to sell on every rise. Safe trade will be to short near the 5300 area with a stop loss of 5330.
NIFTY HOUR CHART
  • NIFTY hour has formed a triangle 
  • MACD may give a buy signal this can be confirmed with the break of the trend line.
  • keep 5210 as stop loss.

April 28, 2010

NIFTY DAILY CHART
  • NIFTY showed weekness after 5 days of closing in the green
  • NIFTY has formed a triangle like formation in day chart. And it looks like it will break down towards lower levels
  • momentum indicator has been showing weakness for the last two days.
  • NIFTY may get support at 5200-5240 region.

April 27, 2010

NIFTY DAILY
  • NIFTY closed above 5 ema again.
  • momentum is showing some weakness to the upmove
  • closing below 5300 is bearish for the short term.
  • the trend line or resistance line is very clearly blocking nifty from going up. Nifty tried 4 times to go above the resistance line. 
  • if we don't fall below 5300 in the opening NIFTY will try to break the resistance one more time today.
thank you

April 25, 2010

  • IFCI is trading near an important trend line.
  • Go long around 51 with 50 as stop loss for a target of 54. The trade is on the assumption that the trend  line will give support. If nifty breaks down below 5160 this trend line will not give support to IFCI. So keep this trend line as stop loss.
  • since the stock is trading near the trend line the risk reward ratio is good. But remember the trend line should give support if it break then one should exit long or can go short.
ISPAT INDUSTRIES WEEK CHART


  • ISPAT INDUSTRIES is in a channel and triangle.
  • failing to break above the triangle will result in breaking the channel. Triangle bottom line will give support.
  • Keep a watch on this stock this will give a good trading opportunity in the near term.
take care
thank you.
SUZLONE WEEKLY TRIANGLE
  • I have redrawn the SUZLONE triangle.
  • 73 to 75 is will act as resistance area
  • 68 to 69 is acting as good support.
  • a break out above 75 can take the stock above 80.
  • break below 68 can slide the stock below 62.
  • My view is that if nifty breaks 5161 and if suzlone breaks 68 at the same time enter short trade.
  • wait for this set up to come otherwise stay out.
TATAMOTOR MONTH CHART
TATA MOTOR DAILY TRIANGLE
  • TATAMOTOR is trading near october 2007 high price 844. this can act as a resistance if it is not crossed during next week. A close above this on a daily basis will give the stock a good upward momentum.
  • TATAMOTOR has broken out of a daily triangle. Target for the triangle break out is at least 200 points. But stock should close above 844 region convincingly for it to move up faster.
  • keep 816 as stop loss for your long positions.
  •  investors can also look at the monthly channel for stop loss. 

April 24, 2010

BANK NIFTY WEEK
  • BANK NIFTY week chart has given a bullish engulfing candlestick pattern.
  • Keep 9650 as an intra week stop loss and go long. 
  • target for a minimum of 500 points from the current rate.
NIFTY WEEK
NIFTY DAY LINE CHART
  • NIFTY WEEK selling stopped at 5160 and went up to 5304 closed above 5300.
  • NIFTY has broken the weekly trend line last week. So it should come down to the channel bottom. Before going to the bottom line nifty may retest the trend line or channel top. In that case we will see 5400 and higher. But since there is a trend line break chances of nifty coming down to the channel bottom is higher so keep stop loss at 5200.
  • The upturn in nifty daily chart is still intact. 
HDIL CHANNEL
  • HDIL is trending down within a well formed channel.
  • the current down move may find support between 260 and 265.
  • Look for a break out on either side of the channel will be a good buying or selling opportunity.
  • Break out on either side can give at least 50 points on either side. 
  • Those who like to play the range can look for a bounce from the channel bottom line to buy.

April 23, 2010

NIFTY SUPPORT AND RESISTANCE
NIFTY TRIANGLE

  • NIFTY Triangle can give at least 40 points when it breaks out
NIFTY 5 MINUTES
  • NIFTY triangle break out at 5292
  • minimum target of 5312
UPDATED CHART
  • NIFTY has not broken the bigger triangle yet.
  • keep a stop loss of 5291 for the small triangle break out.


    RELIANCE INDUSTRIES DAY CHART
    • RELIANCE INDUSTRIES is out of a falling wedge pattern.
    • stock closed off the highs. Keep stop loss of 1049 for longs
    • It may target 1150 resistance region again.

    April 22, 2010

    TATA MOTORS TRIANGLE
    • TATAMOTORS triangle break out targetting at least 1000.
    • keep 816 as stop loss and go long.
    NIFTY DAY LINE CHART
    NIFTY DAY CHART - 2
    • NIFTY closed below 5300 and below 20 DAY Sma.
    • the upturn in line chart is still intact
    • 5200 support is still intact.
    • we have closed above 5260 which is a minor resistance point.
    NIFTY HNS
    • NIFTY reacted from an inverted head and shoulders pattern
    • This price action can move till 5340 and higher.
    TATA MOTORS TODAY

    TATA MOTORS YESTERDAY'S VIEW


    • TATA MOTORS if crosses 798 may give 815
    • if breaks the trend line can give 760.
    TATA MOTORS exceeded the target and it has broken out of the daily triangle more upsides possible from here. A close above 816 will confirm the triangle break out today

    April 21, 2010

    DAILY CHART - 1
    DAILY CHART - 2

    • NIFTY closed above 5200 today. The short term upturn in line chart is still intact
    • A daily close above 5283 with good volumes can take nifty to 5330 and higher.
    • Staying below 20 SMA Weakness may continue.
    thank you
    take care
    UPDATED CHART

      • BOOK PARTIAL PROFITS HERE AT 808

    TATA MOTORS RANGE
    • TATAMOTORS in a range 760-798
    • Break of 798 can give 815
    • Break of the trend line can give 761
    UPDATED CHART

      • NIFTY short term channel broken on the down side

    NIFTY 5 MINUTES
    • NIFTY is moving in an upward moving channel
    • any fall to the bottom of the channel can be used as an opportunity to buy with the channel bottom line as stop loss.
    thank you
    take care
    TATA MOTORS TRIANGLE UPDATE

    TATA MOTORS DAILY
    I present to you the triangles of TATA MOTORS. The previous one gave a near 300 point rally. The one that is developing now can give bigger results. An upside break out can expand the stock to a range of 800 to 1100. Break out on the lower side can bring the stock down to 600 levels

    April 20, 2010

    NIFTY DAY CHART - 1
    NIFTY DAY CHART - 2
    NIFTY DAY CHART - 3
    • One look at the line chart shows 5200 as good support on a closing basis.
    • nifty has turned up arresting the fall for now. 
    • A close below 5200 is danger for the bulls
    • Channel redrawn after todays price action should save the bulls.
    • But as the MACD in the last chart shows bears still have the upper hand. and when nifty goes below 5180 they will gain more strength.

    CHART UPDATED
    TRIANGLE BREAK OUT
    • We have a triangle break out
    • But have stiff resistance 5260 and 5305
    • trade accordingly 
    thank you




    April 19, 2010

    ACC MONTH CHART 1
    ACC MONTH CHART 2
    ACC WEEK CHART
    ACC DAY CHART
    • ACC month chart showing the formation of a triangle and a channel
    • Break and close below 928 can bring the stock down to the channel bottom line that is around 830 levels.
    • If the stock holds 930 levels without breaking the trend line it can attempt 955 and 985
    • FORCE INDEX is showing very good positive divergence indicating good upside possibilities.
    UPDATED CHART
    ONE MINUTE CHART
    • Sometimes even the smallest time frame can give you some points.
    NIFTY WEEK CHART - 1
    NIFTY WEEK CHART - 2

    NIFTY WEEK CHART - 3

    • Weekly stochastic has given a sell
    • It coincides with the weekly trend line break. And as you can see from the charts this even has given a good trade on the short side last 2 times.
    • supports might come only around 4950-5000.

    Disclaimer

    All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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