morning thoughts..
As said the trend is still intact and the markets moved up with vangeance and force.
Technically the indices has given a breakout and some more upsides are likely with intermittent profit taking.
Few days back we had clearly mentioned and intimated at 2587 that astrologically a big move of 400 points is coming in nifty , and nifty has never looked back since and has gained almost 375 . As discussed earlier a move above 9300 levels on sensex will fuel a good upmove and the indices finally manged to break above 9300.
Now any bull gap will be treated as the 4 th bull gap with simulataneous 4 gaps on the charts shown above.
Last day charts clearly showed a pattern of higher top and lower bottoms , but this view has been negated as expected and the nifty has formed a candle stick bar pattern on charts – same indicated via a green circle.
The blue semi circle was the cluster area where the nifty was facing huge resistance from past 4 months , but has managed to break past it to create a lower top and higher top on daily charts.
This indicates that the markets are likely to see a gap on charts again and a reaction could be seen to fill those gaps on daily charts.
However if the green circle indicated manages to form a top straddle with first blue circle , then the rally can be more quick and fast and the expected reaction wont come , and the indices will keep on stretching.
The supports for the nifty is at 2850 levels and resistance at 3050 levels
The supports for the sensex is at 9350 levels and resistance at 9800 levels
Stocks to watch
Rel infra , rel capital , hdfc looks good
Yesterday’s calls sent via sms and messenger
Icici bank – sell at cmp 332 sl 228 targets 322 , went 326
Icici bank 330 pa – buy at cmp 7.50 sl 6 targets 11 , went 10.25
Tisco 180 ca – buy at cmp 4.90 sl 3.95 targets 6.50 , went 11
Sail – buy at cmp 90.50 sl 89.25 targets 94 , went 96
Sesa goa – buy at cmp 89 sl 87.50 targets 93, went 91
Tisco – buy at cmp 183.40 sl 181 targets 188 , went 196
Nifty – buy at cmp 2865 sl 2853 targets 2885 , went 2935
Fii Sbin – buy at cmp 970 sl 961 targets 995 , went 1015
Technically the indices has given a breakout and some more upsides are likely with intermittent profit taking.
Few days back we had clearly mentioned and intimated at 2587 that astrologically a big move of 400 points is coming in nifty , and nifty has never looked back since and has gained almost 375 . As discussed earlier a move above 9300 levels on sensex will fuel a good upmove and the indices finally manged to break above 9300.
Now any bull gap will be treated as the 4 th bull gap with simulataneous 4 gaps on the charts shown above.
Last day charts clearly showed a pattern of higher top and lower bottoms , but this view has been negated as expected and the nifty has formed a candle stick bar pattern on charts – same indicated via a green circle.
The blue semi circle was the cluster area where the nifty was facing huge resistance from past 4 months , but has managed to break past it to create a lower top and higher top on daily charts.
This indicates that the markets are likely to see a gap on charts again and a reaction could be seen to fill those gaps on daily charts.
However if the green circle indicated manages to form a top straddle with first blue circle , then the rally can be more quick and fast and the expected reaction wont come , and the indices will keep on stretching.
The supports for the nifty is at 2850 levels and resistance at 3050 levels
The supports for the sensex is at 9350 levels and resistance at 9800 levels
Stocks to watch
Rel infra , rel capital , hdfc looks good
Yesterday’s calls sent via sms and messenger
Icici bank – sell at cmp 332 sl 228 targets 322 , went 326
Icici bank 330 pa – buy at cmp 7.50 sl 6 targets 11 , went 10.25
Tisco 180 ca – buy at cmp 4.90 sl 3.95 targets 6.50 , went 11
Sail – buy at cmp 90.50 sl 89.25 targets 94 , went 96
Sesa goa – buy at cmp 89 sl 87.50 targets 93, went 91
Tisco – buy at cmp 183.40 sl 181 targets 188 , went 196
Nifty – buy at cmp 2865 sl 2853 targets 2885 , went 2935
Fii Sbin – buy at cmp 970 sl 961 targets 995 , went 1015
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