Online
|
|
dear rudra_sinha
thanks a lot for posting your valuable views.
rupesh
...
dear alwaysbullish
thanks for posting your detailed view which will many boarders.
rupesh...
Rupesh,
Sensex touching 18200 this week would be too much of a positive move. We need lot of FII and DII buying for that to happen. Being the expiry week, I feel that is a little difficult.
I have a feeling that SENSEX may expire just around 17000.
Cheers,
Rudra...
Exit all long positions on any pull-back rally: Vasudeo
Technical Analyst, Hitendra Vasudeo:
Last week, the Sensex opened at 16893.11 attained a high at 17098.79 and fell to a low of 16635.75 before it finally closed the week at 17021.85 and thereby showed a net rise of 173 points on a week-to-week basis.
The Friday’s recovery towards the closing at 17021.85 was encouraging from its low of 16635.75. As a result, the Sensex has gained strength for the immediate near term, which can attempt to test the recent high of 17493 at least and may be 17735 to an outer extent.
We are, however, still in the resistance range of the long-term quarterly chart. As indicated in our earlier market updates, the low of the December 2007 quarter was 17144 and the major lower top after the peak of 21206 was 17735. This resistance band of 17144-17735 has still not been crossed since mid-September 2009. The low of 16635.75 on Friday becomes the immediate trading higher bottom after the low of 15530 made in the first week of November 2009.
In our earlier updates, we had indicated that the inverted head & shoulder looked like a W pattern; the breakout point of this pattern was in the range of 15579-15600. The Sensex did violate the range but has managed to close above it and sustain above it in the last two weeks. The recovery on Friday shows that bulls are still in contention to rally the market and are not yet out. They are waiting at the sideline to bounce on the bears at a suitable opportunity.
Last week our support levels were 16635-16360-16147. The Sensex, last week, tested the first support of 16635 by making an exact low at 16635 and recovered from it on Friday itself.
Weekly support will be at 16918-16738-16635. Weekly resistance will be at 17201-17493-17735.
The Broad Market
BSE Mid Cap support will be in the 6238-6254 range. Resistance will be at 6535, 6651 and 6710. Breakout and close above 6710 on a weekly basis can lead to a sustained rally.
BSE Small Cap support will be at 7428-7409. Resistance will be at 7890. Breakout and close above 7890 can exhibit a small cap rally as well.
Conclusion
Last week’s low is the important support and stop loss point for all long positions from the short-term angle. From the medium-term angle, 15330 will be the major support point. Last week’s low was 16635.
Strategy for the week
Exit all long positions on any pull-back rally that is witnessed to resistance levels or above to 17500 and 17745. Traders and short-term investors can keep a stop loss of 16635 and medium-term investors can keep a stop loss 15330 and look for a rise to 17500 and 17735 to book profit or exit long. Traders can trade long for a rise above 17500.
...
YES 17500 is key level to watch in coming days lets see what happens?
thanks for posting your views
rupesh...
PAWAN, i have written trgts 18200 to 19000 means first trgt 18200 and second trgt is 19000 if this week or in short term.
GMRINFRA:-
AFTER CLOSING AND SUSTAINING ABOVE 69.55 WILL GO FOR 74/75 AND AFTER THESE MORE BULLISH
SUPPORT AT 67.35
UPPER TRAILING STOPLOSS AT 74.30
MERCATOR LINES:-
Nov 18, 2009 Price Crosses Moving Average (50-day) Intermediate-Term Bullish AT -62.00
Nov 20, 2009 Price Crosses Moving Average (200-week) Long-Term Bullish AT-62.50
Nov 20, 2009 Price Crosses Moving Average (21-week) Intermediate-Term Bullish AT- 62.50
IT CAN GO FOR 70-72-73-75-78 EVEN 86
PIPAVSHIP YARD ALSO WILL TAKE ANY DAY UP SIDE BREAKOUT FOR TRGTS OF 65/67
AND ALSO WATCH OUT FOR REALTY STOCKS. ...
i feel difficult to cross 17500.....
I have been waiting for this message ..
double top to double bottom :)
sd3.....
hi rupesh i do not know what had happened between in u and dipakgod. I was just out of town for 2 days and when i saw ur messages today then only i came to know abt u and him. BTw u do not have to give ant attention to these silly people as they r not of much use.
BTW u r saying that sensex can go upto 19000 this week. Is it possible sensex can gain 2000 points in a single week despite the fact that FIIs r the net seller in the cash market from last 3 trading days.
OK US is quite buish today but can it take sensex to a level of 19000 in just 4 trading sessions considering that it is expiry week.
and if u could give me ur view on GMR infra and Mercator Lines...
SENSEX can go to 18200 to 19000 this week or shortly in my view...
emmawatsan thanks for repply....
For tomorrow 24.11.2009
Pivot 5090
support 5066,5029,5005
resistance 5127,5151,5188
Today RSI(14) at peak 82.82, from tomorrow RSI will start declining,
hence if nifty spot closes bellow 5086 then short position can be taken for wednesday and thursday. bellow 5086 strictly avoid taking long positon.
today inspite of rise in Sensex its 20 shares were advancing and 10 shares were decling, after 11.30 AM entire day market remained FLAT, again FIIs were netsellers today. Momentam indicator has also started declining ADX has gone bellow 25. these are sign of weakness.
...
Does a Rising Sensex implies rising rupee, the answer might not be to your liking visit niftywhatcanhappen dot blogspot dot com to know the details...
Uptrend To Continue
The indices ended last week with minor gains but managed to
close near the highest point above the psychological levels of
17000/5000. The level of 17100 repeatedly provided resistance
and triggered a quick 500-point decline that was healthy for the
uptrend. The technical set-up continues to be strong hinting at
a move above 17100/5074 early this week. Once confirmed the
markets would not take much time to test the Oct 09 highs and
even move closer to the next major resistance area of 18000-
18300/5270-5300. The trading base remains in the form of
16600/4900 and any decline close to the same should be used
as a buying opportunity. The technical oscillators are yet to see
any divergence on the short-term charts, which only means
that the positive momentum is intact and should lead to a
“higher high” on the price action. Given the strong uptrend, the
moving averages would continue to play a crucial role going
forward by providing support during any and every correction.
We maintain our long-term target of 7000/23000 that should be
tested in the second half of next year. The Banking, Oil&Gas,
Capital Goods and Mid-cap sectors are likely to outperform.
The DOW (DJIA) looks on course for 11K in the near term.
Patterns – The Completion of “V”
The minor “Double Top” bearish pattern that had developed on
the hourly chart in the middle of last week saw its target of
4930 being achieved last Friday. The set-up is much cleaner
and stronger now as the indices resume their “V” shaped
reversal process that should lead to 17500/5170 this week. A
new bullish “Engulfing” pattern can also be spotted that would
restrict downside in the near term.
Neyveli Lignite – Star Performer
The stock has confirmed a major medium-term breakout in the
last couple of weeks that should lead to super normal returns
over the next couple of months. A move beyond 200 can be
expected with downside capped to the 135-140 zone.
ITC – Selling In Injurious To Financial Health
The stock is likely to begin the next big phase of its mediumterm
uptrend that should lead to a move towards 300 in the next 4-6 weeks with stopover around the 277 mark....
Hi,
Could you please suggest me which is the best Technical Charting website/Software for Intraday /Intermediate trading analysis in BSE/NSE.
Thanks
Joe ...
