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Thursday, August 30, 2012


Ok. Oversold . Touched the neckline of inverse HnS. 34 SMA supported. Huge volume . Should be doing a little upmove from here on.

Wednesday, August 29, 2012


I did better with my forecasts last year than this year . This year is looking tough. Perhaps i am giving less importance to my trusted Indicators like CCI and others  and concentrating on outer functions like US presidential cycles etc etc.

The OBV is just resting on the line from where it bounced before. Also 34 SMA is near the NS. Indicators have entered Oversold area. From this I can only say that fall may not be much from here on.

Looking at Bank Nifty gives more information. Some time back i produced a Bank Nifty chart . That one is going  right as I thought.

The current BANK Nifty I think has one more day of fall . Max 2 days . And its going to hit that lower support trend line.  So  Nifty should also have 1 -2 days fall. A divergence is seen in CCI(14) for BN.
RSI is entering oversold area.

So I think tomorrow should be another down day and might be they-after tomorrow. And then a bounce.

Thursday, August 23, 2012

Nifty update

As  I stated in the post below , we saw vary little pullback from the resistance line in Defty. Nifty only made a low of 5294. And now we have broken  the red line , next target blue line . at 3475. I think this up move is going to continue till September 1st week  if we go by US presidential year cycle. . Hard to say what level. We should see 5600, if we are lucky , 5740.

Nifty has a Cup and Handle pattern target of 5900. The bottom is a good W formation , but the volume is not that impressive.  But as i said  some weeks back , I expected the ATR to go below July 2010 levels, and near to August 2010 levels. So explosive moves are expected in the next couple of months.

Have fun.

Wednesday, August 8, 2012


Defty Overbought . And at double top resistance. So expecting a little cool off in Nifty.Not much though. Good support at 5260 in Nifty .

Thursday, August 2, 2012

Stock Watch

Symbol::TVTODAY .  Possible complex Inverse HnS pattern forming . Also ascending triangle looks to be developing . One could accumulate this for  a target of 100 .

KPIT Cummins Infosystems. Good breakout of ascending triangles. Target 145-150.

Symbol:UGARSUGAR.  Good volume breakout . target 20-22.

Wednesday, August 1, 2012

Bank Nifty . fun chart

 The shape is not matching but  still i like this one . Bank Nifty could correct upto the lower trend line support for point 12.

Nifty : Ready to short??

My favourite indicators are at overbought levels. I think tomorrow could be the last day of this upmove. Planning to enter short tomorrow.