NIFTY LINE CHARTS VIEWS

38% RETRACEMENT IS AROUND 4772. ON THIS CHART IT SEEMS THAT IT WILL TEST IN COMING WEEK OR REST OF DAYS IN THIS MONTH.

SWING INDICATION 5 DAYS IS DOWN REVERSAL  IS 5204.

RK BUZZING STOCKS FOR NEXT WEEK

SCRIPT NAME                 CLOSING PRICE              SIGNAL        TARGET        TARGET %

ASHOK LEYLAND                  25.85                             BUY               29.60                     14% EXIT AT 24  

IDFC                                         119.50                           SELL           110                         9%      TARGET ACHIVED

SBIN                                         2197.00                         SELL            2100                       5%     BOOK PROFIT AT 2050

ORCHID CHEM                        198.95                           BUY               220                      10%  EXIT AT 198

                                                                     

                                                                  ALERT

SBI ONCE BREAK 2100 LEVEL WITH VOLLUME NON STOP SLIDE UPTO 2000 LEVEL. MY ULTIMATE TARGET IS 1900.

NIFTY WEEKLY VIEWS 13/8/11

MARKET IS FALLING BUT STOCHASTIC IS INCREASING UP SIDE. IN THAT SITUATION UPSIDE IS LIMITED FOR MARKET. SIENCE 5 DAYS MARKET IS FACING STRONG RESISTANCE NEAR 5200 LEVEL. MARKET COULDNOT GO UP EVEN POSSITIVE  GLOBAL MARKET. IF MARKET DOES NOT GO UP ABOVE 5200 LEVEL IT WILL MAKE A BIG LOWER TOP  FORMATION. WHICH SHOW MORE BEARISH SITUATION IN COMING DAYS. RSI IS AT 30 LEVEL WHICH INDICATE MORE DOWNSIDE WITH VOLLATILITY.

NIFTY

BOOK FULL PROFIT IN NIFTY 5100 AT 135,5300AT 270 ,5400 AT 330
ENJOY.

BUY ONGC 280 CALL AT 6.15

NIFTY WEEKLY TREND LINE

NIFTY VIEWS FOR NEXT MOVE.

The retrace level of the total Upmove since 2252  to  6338 ( 2008 lows till date ) showing that we may see the 38.2% level near 4800 apprx. in this leg of downmove.

The Pattern  in above chart is showing downtred Triangle. The Pattern is Bearish in nature and generally gives a breakdown below lower Trendline . It had violated the trendline in last friday trading session but closed above it.

The Weekly chart shows a breakdown of a Long Term Trendline that was holding Support since Nov. 2009 and never had been voilated on closing basis. Last Weekly close was a 52 week low close , lower being that of the week ended on 11-06-2010 .