Monthly Archives: May 2011

Nifty Will it give a Bounce?

By | May 18, 2011 3:12 am

Nifty Daily Chart As said in previous Post Nifty is looking weak technically as unable to retrace 38.2% of its fall and Break of 5471 will make it correct furthur. Charts discount everything and SBI results proved a Reason for Breakdown How Long can this fall continue? IF we draw the trendline from Low of… Read More »

Nifty and Tata Steel Levels for May 17

By | May 17, 2011 3:00 am

Tata Steel Tata Steel is at a crucial juncture @574,Level which has given support to Tata Steel 4 times on daily chart as can be seen in below chart. Stock is trading below its 5 EMA Low@583  which should be watched closely if Tata Steel again bounce back from 574 levels. Indicators are showing oversold… Read More »

Nifty Weekly TA for Week 16 May

By | May 15, 2011 3:55 am

Nifty Hourly Nifty Hourly Charts are respecting the trend lines both on Upper end@5600 and on lower end @5440. Break on either side only will give range breakout. from this tight 200 point range. Hourly was oversold and hence Nifty showed the much expected bounce but unable to cross the upper trendline @5600. Market always… Read More »

Wipro and Nifty Technical Levels for May 13

By | May 13, 2011 3:08 am

WIPRO Wipro is looking weak on Daily charts as it near its lower end of trendline.Wipro is unable to cross short term moving average of 50 SMA making it a sell on rise candidate. Volume are lower end and a break of trendline low can lead ti a breakdown till rs 400 is possible on… Read More »

Nifty Technical Levels for 12 May

By | May 12, 2011 3:16 am

Nifty Hourly Nifty Houlry chart has been trading in a range of 5503-5492 for this week.A sideways move after 9 days of correction we saw. As I have pointed in Weekly Analysis that 5595(Weekly Pivot) is am Important level which should be crossed for market to move till 5630 levels.Nifty is unable to cross this… Read More »