Mahindra&Mahindra M&M is showing formation of higher bottom formation with todays rise on huge volumes . The neXt level of resistance zone is 712 which is 200 DMA for the stock. Stochastic has generated a Buy with a close above 20 and RSI is also turning up. Volumes were good on todays rise above short… Read More »
Bank Nifty Bank Nifty has crashed 12.2% from top of 11887 and 9% from recent high of 11451 which has been horrendous fall, The Silver Lining in this Global Crash is fall in Crude Price which will help in improving in Current Account Deficit for Indian Government and in turn will help in easing inflation… Read More »
Wishing All Site Readers a Very Friendship Day !! Nifty Hourly It has been a dramtic turn of events the last week Europe Crashed 10-13% in a Week USA Plunging 5% in a Week and The decision by S&P, the global ratings major, to cut US’s sovereign rating by a notch to ‘AA plus’ from… Read More »
Nifty Hourly Nifty hourly chart above had support at 5320 as discussed in our previous posts also proved to be the support in today fall. Stock bounce in morning and started coming down as soon as 5378 got taken out. Indicators are oversold but trending market it really does not matter. An Indicator can remain… Read More »
Bank Nifty Bank Nifty closed above the crucial trendline support and level of 10545 should be held for upmove in bank Nifty in coming session. Stoch is in oversold zone but still no Buy is triggred. Holding 10545 will give strength to upmove till 10900 levels. Below 10545 levels Bank Nifty can easily slide till… Read More »
Nifty Hourly Nifty is set to Open Gap Down of 80 Points as per SGX Nifty (Click on Link to See SGX Nifty Rate ). Global markets are correcting on lower growth forecast and Weak Fragile economy of developed markets. Trader should trade with the trend and never fight the market to protect his most… Read More »
BHEL BHEL has been awarded the 9 th most innovative company in the world. Results were a disaster set of numbers and market punished the stock. Stock broke the crucial support of 1890 and went down to fill the gap made in may 09. After the fall BHEL is consolidating in a range taking a… Read More »
Reliance Reliance the Poster Boy has been under bear hammering from past few days. Stock is breaking its important support levels inspite many positive triggers of BP deal. Technically Stock is very week and currently trading trading its 52 Week Low. Looking at Daily charts Stock is a falling knife and should not be taken… Read More »
Nifty Hourly Nifty Hourly formed a double top at 5522 on hourly charts on Friday trade. Double top confirms the downtrend and a close below 50 SMA@5518 confirms the downtrend. Indicators are giving positive divergence but divergence should always be confirmed with price action. On Downside 5472 and 5436 are next valid support for Nifty.… Read More »
Nifty Hourly Nifty Hourly chart broke below the crucial support of 5535 yesterday but short covering in late hours came and Index closed above this level. Break of 5535 makes Technically Nifty weak and today we will see a gap down opening owing to global cues. Looking at hourly charts if we break 5597 in… Read More »