Nifty future has today seen a bounce while trading at a major support region. Today, we have seen front-line majors bouncing after the recent sell off, this may be an indication of coming relief rally in next few trading sessions. Nifty future is more likely to head towards the 5740 area i.e its first resistance. The medium term uptrend is likely to resume and very limited downside is seen at this ... [Continue Reading]
Technical Analysis: JP Associates tests trend line support
JP Associates on the daily chart is on the perfect uptrend and as the trend is up we only focus on buying it on every declines. Last 2 trading session has been interesting for the stock as we have seen stock is near to the trend line support and also just near the previous resistance which is now a support for stock. We believe fresh long positions can be initiated from the current level of 95.5 ... [Continue Reading]
Nifty future closes below the rising trendline, Trading Idea
Yesterday due to global selling, our markets was on the way of selling as well. We Have seen Nifty future for the first time on daily chart has broken below the trend line which has been acting as support from the month of June. So I am expecting some selling in the markets, as being a technical reason. Even Indian rupee has depreciated against USD and reached 54 mark again. Situation after flop ... [Continue Reading]
Technical Analysis: Buy FMGOETZE for short term, Trendline support
Federal-Mogul Goetze is a mid-cap stock and has been in a strong uptrend since 2009 and I believe it to continue for some time. This stock is taking support on a advancing trend-line, as I see the weekly chart sock has already approached trend-line. So its a buy recommendation on this stock for short term. Trading volume of last session, were much higher than its monthly average. Higher volume at ... [Continue Reading]
BPCL is in Uptrend and Supported by Rising Trend Line, Bounce is More Likely from Current Levels
Bharat Petroleum Corporation Ltd. is one of the oldest oil marketing company in India. The BPCL stock on NSE was listed on 13 September 1995, at current levels we see that there is a support of 200 SMA holding the stock above it suggesting this stock is still bullish for its long term view. When we look at the weekly chart of this stock we see that a 4th wave pattern is forming and this will ... [Continue Reading]