NIFTY UPDATE FOR 30 MAY 2012

 There are not much changes in todays report.The markets closed with marginal gains today with IT, tech, realty and metal being the lead gainers. Power, auto and oil & gas, too, gained marginally while FMCG, consumer durables and heathcare lost substantially. The Sensex closed at 16439, up 22 points from its previous close, and the Nifty closed at 4990, up 4 points.
big players are waiting for clear confirmation.  Nifty 5000 put open interest added 535050 shares and 5000 calls decreased 382500 shares from open interest.    Market made high of 5020 level but FIIs pull the index at lower so that they could exit from short at lower level. Nifty future negative (shorts) open interest decreased by 8.53% indicates huge shorts have been covered today also. Nifty 20 day sma price is at 4981 any close below this level can worsen the sentiment. As per option open interest data indicates that nifty price will be trade above 5000 tomorrow. I highly expect expiry would be in 5070-5140 range. As per nifty EOD charts prices must be form a bullish candle stick pattern tomorrow above 20DMA  for next bull run. Any Two consecutive close above 200 dma will create a blasting rally in market. 

MID SESSION OUTLOOK.

 NIFTY CURRENTLY TRADING AT 5011. DOW FUTURE IS UP BY 110 POINTS. DAX OPENED  UP  1.19% UP. GLOBAL INDICES SUPPORTING BULLS. BUT OUR MARKET IS FURTHER OVERBOUGHT ON 30 MIN AND 60 MIN CHARTS. STRONG BULLISH BUT NEED SOME CONSOLIDATION FOR NEXT HEALTHY MOVE.  CLOSING AROUND 5025-5040 EXPECTED TODAY.

DOW JONES ELLIOT WAVE COUNT

THERE ARE NO MAGIC NO MIRACLES. DOW WAVE 5 TARGET IS AROUND 13800. IF DOW WILL BE 13800 THIS TIME OUR INDIAN MARKET WOULD BE AROUND 5900-6000. CLICK ON CHARTS FOR ITS LARGER VIEWS.

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HINDALCO UPDATES

 Keep an eye on HINDALCO. it is on crucial level. It has failed 5 times to sustained above 20 day moving averages. It has given closing yesterday above 20day moving average. I f the price sustained here today above 114 and form a green candle today  then we may see a sharp rally ahead, otherwise it may slip again and may  made a new low.

 IF YOU HAVE  ONLY TWO ABILITY IN YOU,  YOU MAY MUST EARN MONEY FROM STOCK MARKET.
1- PATIENCE
2- HUNGER TO GROW BIG 
REST  LEAVE ON ME TO DO ANALYSIS AND RESEARCH OVER MARKET. YOU WILL BECOME RICH ONE DAY.
IF YOU DON'T HAVE ABOVE TWO ABILITY WELL I WILL SAY MY DEAR  FRIEND YOU ARE IN WRONG WEBSITE DON'T WATCH IT AND DON'T FOLLOW.
GOOD LUCK

BANK NIFTY UPDATE.

  BANK NIFTY HAS GIVEN BETTER JUMP THAN NIFTY. IT JUMP TODAY 2.56%. ITS IMMEDIATE RESISTANCE COMING ON CHART IS 9830 TO 9890 LEVEL. AND THAT LEVEL WILL ACT AS A WIDE LAXAMAN REKHA. ANY TWO CONSECUTIVE CLOSE ABOVE 9900 WILL KISS 10000 LEVEL VERY SOON. THERE WILL BE NO TRADEING ZONE ON BANK NIFTY BETWEEN 9830-9890. ANY TWO CONSECUTIVE CLOSE ABOVE 10000-10050 WILL BLAST, IT WILL NOT COME INTO YOUR HAND. 11000 LEVEL VERY SOON. 
CLICK ON CHART FOR LARGER VIEW.

STATE BANK OF INDIA

  SBI:- My favorite stock.  Just few days back I recommended to Grab  SBI around 1800 level,  today it has given robust slap to bears. It is heading towards 2200-2300 very soon without any resistance. Enjoyyyyyyyyyy.

NIFTY UPDATE FOR 29 MAY 2012

 The markets gave a  robust jump today with banking, power, consumer durables and capital goods leading the rally. Auto, realty and metal, too, made significant gains and oil & gas was the only sector that closed with only moderate gains. The Sensex closed at 16417, up 199 points from its previous close, and the Nifty closed  at 4986, up 65 points. The CNX Midcap index was up 1.7% while the The market breadth was positive with advances at 956 against declines of 477 on the NSE. Nifty 4900 put open interest added 1354350 shares in open interest and 4900 call decreased 1104250 shares from open interest. Nifty 5000 put added 995050 shares in open interest and nifty 5000 call decreased 196800 shares from open interest, indicates  huge short covering today and nifty is ready to enter in 5000 range after given closing above its strong resistance like Laxaman Rekha at 4960. nifty future closed at 4975 1.15% Up open interest decreased -5.75% indicating about shortcovering. Now nifty immediate resistance at 5040 and after that 5140 level. any two consecutive close above 5140 we may see a blasting rally upto previous high at 5630. I have posted three charts below daily weekly and monthly to understand deeply. Nifty on daily charts first time closed after 17 days giving strong bullish indication. Nifty on weekly charts it fell below long term trend line but soon it recovered itself from trendline. As per weekly charts nifty will face strong resistance at 5140. As per weekly charts RSI and Slow stochastic is improving towards upside. As per monthly charts nifty slipped below trend line but it recovered soon and trying to move upside. After putting all three charts analysis conclusion is that 5140 will act as next laxaman Rekha. Any close above 5140 we will see blasting rally. If nifty close above 5140 on weekly and monthly basis will be very very strong signal. I have given below here 5 year monthly charts, If you will consider the charts  you will find that Nifty has not formed four consecutive red candle pattern. According to this chart pattern indicates that June will be bullish month. So my dear friend live bindash as I told you earlier that truckload with nifty if it close above 4960 level. Have you loaded today or missed it. I expect expiry between 5070-5140 level.
GOOD LUCK

MID SESSION OUT LOOK

NIFTY IS TRYING TO SUSTAIN ABOVE ITS RESISTANCE 4930-35 LEVEL. cHARTS HAS GIVEN BULLISH DIVERGENCE. 4900 PUT ADDED 10 LAC SHARES IN OPEN INTEREST. GIVING STRONG SIGNAL  OF SUSTAINING ABOVE 4900. AS I HAVE DISCUSSED EARLIER THAT WE MAY SEE A SHARP SHORT COVERING RALLY AFTER CLOSING ABOVE 4960 LEVEL.. IF NIFTY CLOSE ABOVE THIS LEVEL WE MAY SEE 100 POINTS JUMP RALLY TOMORROW.

RELIANCE CAPITAL

  RELIANCE CAPITAL
 Buy reliance capital around 320 keep stop loss at 301. short term target 350 mid term target 400 and full and final target for next three month 560. bullish on card.

Reliance capital has given 7 consecutive bullish  close on weekly basis. Don't miss this mad  high beta stocks.

NIFTY UPDATE FOR 28 MAY

 Nifty Broke the trends of the past few weeks ultimately and it closed at 4920, the markets closed positive during the week with banking and capital goods leading the rally. The Sensex was up 0.3% and Nifty gained 0.5% over the week. The CNX Midcap index was up 0.6%, BSE small cap  gained 1% while the Bank Nifty closed with 1.4% gain. Nifty 4900 call added  124700 new shares in open interest and 4900 put added 59250 new shares in open interest indicates more consolidation around 4900. As i have all ready indicated that any close above 4930-4960 will create a blasting rally in stock market. As per option open interest data once more flat and rangebound trading session is expected and if nifty does not close below 4880 level on monday we will see a sharp jump on tuesday.I expect  upto 5200 level till friday next week if nifty close above 4960 level. As per EOD charts Nifty has given bullish divergence signal on chart. any close above 4960 nifty will go straight upto 5130-5230. level. Nifty made low of 4531 and high 5628 total 1097 points rally it gave. it corrected upto 4788 almost 75% correction. Now this B wave will take to 5900 in next two three months. 

Warning any close below 4860 this time may create a panic selling upto 4730. but its chances are very low. Any two consecutive close above 4980  oversold RSI indicator will take nifty up to 5259 within a week.

  

NIFTY VIEWS FOR 25 MAY 2012

 The markets gave a robust  punch to bears and in a single move it closed above 4900 today with banking and oil & gas leading the rally. Technology, metal and auto stocks, too, closed with significant gains. FMCG and consumer durables were the only two sectors that closed with moderate gains. The Sensex closed at 16222, up 274 points from its previous close, and the Nifty shut shop at 4921, up 86 points. The market breadth was positive with advances at 892 against declines of 512 on the NSE. The top Nifty gainers were ONGC, BHARTI AIRTEL, AND BANK OF BARODA. Nifty 4900 put added 1873300 shares in open interest and 4900 call decreased 403950 shares from open interest. 4800 call decreased 1140700 shares from open interest. As Nifty future up by 98 points with addition in open interest in 4800 and 4900 put indicating that market is not ready to go below 4900 level further. As i have indicated in morning that price hike in petrol will give bullish indication for our market, while maximum analyst were bearish with this news.
Market tested 4800 2 times and jump back from there. But it need more confirmation for bull rally. It must should close above 4935-4960 level. If market close above 4960 tomorrow it will confirm a bullish rally ahead till 5100 level further in very short term. today FII sold 660 crores in derivative segment indicates that they have covered only shorts. They dont have any fresh buying. 
Is the market have made bottom around 4800 level ?
As per wave theory it has made bottom here. Any close above 5100 this time B wave will take bulls upto 5900-6000 level in two or three months.
If nifty close above this time 4960 truck load with nifty for theshort term  target of 5170 and long term target of 5900.

DON'T MISS

BUY NIFTY FUTURE AROUND 4800 LEVEL STOPLOSS 4770 NIFTY SPOT LEVEL.
OR
BUY JUNE 4900 CALL AROUND 125 STOP LOSS  85

Market opened positive but it was a disappointing end to a session which traded with a positive bias until noon after which the market turned nervous and gave up all its gains due to record weakness in the rupee. Heavyweights tumbled pulling the Nifty down below 4900 where it closed. Sensex shut shop at 16026, down 156 points and Nifty at 4860, down 45 points from the previous close. Nifty future open interest increased by 2.75% today. 4900 call added 677200 contracts in open interest and put decreased 141550 contracts. As per option data I told you that we will see volatility around 4900 level. I have been bullish since 10 days but market tasted our patience ultimately. I  had a view that market will recovered from around 4800 level. It recovered but it could not sustained above 4930 level and failed. lets consider charts once again. I have posted below 15 min charts with elliot wave analysis. Currently we were falling in wave A from 5630 which end at 4788 and  from 4788 if my count is right this wave should go to 6000 level. It doesn't mean that it will go straight from here. On 15 min charts day before yesterday move was a rally of "B" wave, small subwave take this rally up to 4956. and from 4956 a correction has happened to 4849 level.and from 4860 which is closing price a up move should come in coming days upto 5100 level very soon. Remember our expectation is that we are in for a bigger up move.The second wave usually  retraces deep but it should not go below wave 1 starting point (4788).  In general all would be thinking that this rally will not sustainable because rupee hits life time low at 55.44, but technically the story is different. Nifty moved from 4788 to 4956, 167 points. today it fell to 107 points which is 61.8% feb. level therefor another up move will happen very soon which will take nifty upto 5100 level. Another interesting thing is that if market reversed from here(4860) it will form a HEAD AND SHOULDER PATTERN on 15 min and 30 min charts. Now lets a glance on FII activity today. FII bought 863 crores in derivative segment.They have bought 572 crores of index future. Why FII bought after long time in market here when rupees is hiting all time low. Something is cooking my dear.If you are long don't worry untill nifty hold 4788 level.

WARNING BE READY FOR BIG UP MOVE.

ALL ABOVE ANALYSIS WILL TERMINATE IF NIFTY BREAK 4788 LEVEL.

CLICK ON CHART FOR ENLARGE VIEWS.

BANK NIFTY

 
BANK NIFTY HAS RECOVERED  FROM LOWER BOLLINGER BAND ON DAILY AND WEEKLY CHARTS SMARTLY. AFTER MAKING LOW 9000 TODAY IT CLOSED AT 9412. IT SHORT TERM TARGET IS 9650. ANY TWO CONSECUTIVE CLOSE ABOVE 9650 WILL  BECOME ROCKET.  SO 9650  WILL ACT AS LAKSHMAN REKHA FOR BANK NIFTY.

STATE BANK OF INDIA

FEW DAYS BACK I RECOMMENDED BUY SBI AROUND 1800 TODAY IT CLOSED AT 2004. SAFE TRADER CAN BOOK PROFIT IN SBI TOMORROW AND SHORTERM INVESTORS WHO HAVE TWO THREE MONTHS TIME FRAME HOLD IT WITH 1850 AS STOPLOSS.






 

NIFTY

As I told you in my previous post that untill unless nifty close above 4930 up move cannot be confirmed. It is acted like a lakshman rekha. Today Nifty touched 4938 twice and slide from there. It made low 4888 and recovered from there also and closed at 4906 level.
Today 4900 put added 405400 contracts in open interest and 4900 call added 440300 contracts in open interest which indicate volatile move around 4900 level. But what I saw today that no shorts buildup by smart players. As per nifty EOD charts bullish ingulfing pattern seen yesterday and today it hold the  yesterday level. Nifty is improving upside from its lower bollinger band. As per slow stochastick and RSI it is improving but no strength showing on slow stochasticks indicator. If global market support tomorrow i  highly expect a 65-70 points rally up side. Currently no shorts are advisable here untill unless nifty slide below 4880. But whenever I saw around trend reversal level first Bank Nifty give smart reversal. It has showed very smart recovery from last two days.After nifty crossing and closing above 4930 will give a jump to 5040.

BANK NIFTY HAS RECOVERED SMARTLY FROM UPPER FALLING WAGE TRENDLINE. ON DAILY CHARTS BULLISH ENGULFING PATTERN HAS FORMED ON DAILY CHARTS. IF BANK NIFTY CLOSE ABOVE 9500  WILL CONFIRM THIS UP MOVE. WE MAY SEE  STRONG RESISTANCE AROUND 200 SMA AT 9634. A LARGE MOVE WILL COME AFTER CROSSING AND CLOSING ABOVE 9634 LEVEL. RSI AND SLOW STOCHASTICK INDICATOR IS IN OVERSOLD ZONE MAY GIVE FAVOR FOR BULLS. IF BANK NIFTY CLOSE POSITIVE TODAY WILL CONFIRM A POSITIVE DIVERGENCE ON WEEKLY CHARTS.

                                                          










The RSI fell below 30 for the first time while wave counts are extending in a C. Wave C has a minimum target of 4840 and an extended target of 4785. Once complete this wave C Nifty bounce would occur that might bring us out of oversold territory. 4976 previous Fridays high and 5030 are key resistance levels. The Nifty is now clearly below all the supports from the falling channel and falling wedge like pattern. At 5040 that high should be formidable in the short term. The 61.8% retracement at 4950 broke, 4785 was the 75% retracement that it tasted on friday and from there Nifty smartly recovered.

Now the question is where will nifty go from here. Two situation are creating here. 
1:- it should jump smartly upto 5900 in three sub waves.
2:- It should fall up to 4200 level in two sub waves.
Currently nifty is in highly oversold zone on both daily and weekly charts. Watch carefully 4935 level on monday. for up move nifty must close above this level and closing above this level will give first confirmation for up move.After crossing 5030 level and closing above this level on weekly basis will give second strong confirmation for the target of 5900 in next two  months. These all things will only happen when global market will support our market.
Dow jones has strong support at 12250,  so key level to watch this 12250 for dow. If we move below 12250 on DOW we may see fall up to 11800-11500. In that situation our market will not act in different waves and we may fall up to 4500 again after failing 4935 level on nifty.
Therefor 12250 for DOW level will be trend decider level for all market.


80% chances ---------------------------5900 in next two months
20% chances ---------------------------4200 in next three months