==>> BE THE FIRST ONE TO KNOW

Be the first one to know everything about the market. All the major levels of Nifty have been reached. All the levels were informed well in advanced to all the viewers of this blog. The traders and the investors who have not followed the levels are stuck with the stocks and they need to keep those stocks for atleast 4-6 months so that they can sell.
ALL THE VERY BEST.............

In the last few blogs i have been writing about all the major rest and the support levels of the Nifty. Today Nifty has closed below the major support level of 4650. Today as soon as the Nifty started trading below 4650 we all have seen a major short built up and many SL trades happening. The viewers who have read all my recent blogs might have definately kept their position light. I have clearly told u about the Lower top and lower bottom formation pattern and that will take Nifty till 4650.


Nifty close below the 4650 levels, can come down to test 4450.......... Clearly mentioned " NO TEJI" till the Nifty close above 4910 levels. Petrol prices hiked by Rs. 5 per lt. Diesel by Rs. 3 pl. LPG by Rs. 50 per cylinder. Custom duty on crude and petrol cut by 5%. Excies duty reduced by Rs. 1. Revenus loss due to duty cut around Rs. 220 bn. Oil Co. expected to gain Rs. 382 bn by price hike. Under recoveries of the OMC's expected at Rs. 2453 bn with oil price at $ 130/barrel. Price increase will lead to northward movement of inflation by 50-65 basis points. Inflation likely to be around 9% in the coming weeks.

==>> Short covering in RIL, pulled markets up.

Yesterday we saw good short covering in the Banking stocks and mainly due to RIL. Nifty took good support at the trendline (as circled in the chart). The close below 4650 can be bad for our markets. The candle stick pattern seen in the Nifty chart shows that there is a temporary hault in the selling pressure. In the early hours of the trading session we saw bears took the front seat, but in the late hours lost control of the market and bulls replaced the bears. Nifty after making a low of 4634 ( on the trendline ) closed well above 4650 at 4720. But still the trend is not fully turned positive. I do not see any major news that can pull back the markets. Nifty will trade range bound. Keep your positions light. Trade with strict SL. Nifty will face resistance at the long term trendline at 4885 levels. Good support at 4600 levels.

Lower top and Lower bottom formation is still in the making, to break thsi pattern, nifty need to close above 4950. Till that time " NO TEJI ". At 4950 u might get the stocks at a bit higher prices, but at that time we will have the confiramation that the markets are likely to go up. But buying at current prices makes no sense, as we are not in the right positions to tell why are the markets heading towards. Check out the trendline and the patterns, to know exactly where are the markets heading. Major levels are given in the blogs.

Gold prices are again rising. Crude prices are stabalising.

==>> As mentioned "NO TEJI" till close above 4910

The viewers of this blog would be feeling lucky that they were well informed about the correction phase in the markets. Again and again they were informed about the fall. I had given the target of 4750 Nifty spot and the same was acheived today. Viewers can see in the chart, that in the last 2 days the Nifty close was below the long term trendline and i kept on telling that it can be fatal. We saw Nifty plunging down till 4700 before closing at 4715.30. Nifty opened in the positive zone. As i have mentioned that the Nifty has a very good resistance at 4910 and "NO TEJI" signal is seen till the time the close is above 4910. Last 2 days Nifty faced resistance at the same level. And within few minutes of trading hours we saw Nifty sliding in the negative zone.

In the morning note, i have mentioned that the Nifty is facing resistance at 50 DMA. On Friday morning i have clearly mentioned that the traders should not taken any long position in the market. Nifty target is 4670. Rest at 4910.

==>> Nifty major resistance at 4910

Inflation for the week ended at 8.10%, higher then the last week. Nifty close is again below the trendline. Sensex is taking a good support at 50DMA, but nifty is facing resistance at the same. As mentioned earlier, that till the time Nifty closes above 4910, no long positions to be taken. I still maintain the same.

==>> Nifty closed below the long term trendline

On 29th May Nifty closed well above the Long term trendline after finding good support at the same level. But as mentioned that the exact pattern will be clear within 1-2 days. Yesterday Nifty closed below the long term trenline. Nifty for sometime found good support at 4900 levels, but finally lost control and was dragged down till 4801 and closed at 4835.30. There was good volumes in the Nifty 4900 puts. That means good short built up seen in Nifty futures with great volumes.

As mentioned that the Nifty close below the long term could be a cautious sign. Yesterday Nifty chart showed an bearish Engulfing pattern. Nifty has a good suppot at 4800 levels, but that can also be broken. We might see good opening on the back of global markets, but the question is , WILL THAT SUSTAIN?? The pattern to be broken in the Nifty chart, the close should be above 4900. Till that time "NO TEJI". Weekend inflation data will also be announced. Nothing great has been done to control inflation, so i dont think that we will lower inflation rate.

I am proud to say that the Viewers of this blog were well informed about fall in the market, before the mayhem occured. Yesterday we saw Nifty plunging down till 4800 levels within minutes as soon as it broke the long term trendline. Yesterday in the opening session i have clear mentioned that Keep ur positions light and book profits as and when needed.

==>> Support at 4866.Bank & cement will be in lime light

Nifty opened flat, but within, it was seen trading in the red zone. But in the closing session, closed in the positive zone. Sensex closed 250 points up. We did see some great roller-coster ride today. But as mentioned in the morning that we will see bounce back today. This indicator could be seen in the price pattern that was made yesterday. But still the dark clouds are still there, and it can once again prove fatal.

Is this the end of the recent correction or just a beginning of the second round of correction??? This is the only question in every one’s mind. On Friday 23rd, it was mentioned that the Nifty will come down till 4900 levels and after that 4800. Today Nifty made a new low of 4835. In the last 3 days Nifty is making new lows, but the close is above the long term trend line ( Red line ). In the last 3 days the Nifty is taking good support at the same. The close above 4960 will only break the present trend. 4865 is the long term trendline support. Nifty has a small resistance at 4910 levels.

At last we saw some rally in the Banking stocks. In the last few days we have seen the huge short built up in the Banking stocks. In my last month’s blog, I have clearly mentioned that the Investors should stay away from the Banking and the Real estate stocks. Viewers can themselves see that harsh behavior with these sectors. Today we saw some bounce back due to short covering.

Crude prices are cooling a bit. Banks stocks will bounce back a bit.

ICICI bank has a very good suppor at 801 levels. Buy with the same SL. SBI is in the over sold postion. Buy with todays low as SL. Bank Nifty has a good suppor of 6545. HDFC Bank looks good with the Closing SL of 1349. Buy IDBI with the SL of 84. Ambuja cement chart is looking intresting, buy with the sl of 96. BUY ACC if it trades above 670 for sometime. India cement buy above 166. CONSIDE THESE STOCKS AS A GOOD BUY WHEN THE MARKETS ARE IN THE POSITIVE ZONE. IF THE MARKETS OPEN GAP DOWN IN THE NEGATIVE ZONE, THEN PLEASE AVOID BUYING ANY. SL SHOULD BE MENTAINED.

==>> Some pull back expected.

Expect some bounce back today, as the chart suggests (circled in the previous chart) and global indices are also showing some pull back.

==>> Nifty closes above the Long term Trednline

Nifty opening was in the positive zone. Trader positively in the green for the rest of the day, but in the late hours bears were back in action and the markets closed in the negative zone. Nifty did take a good support at 4857 levels and the close was above the same at 4859.9. As I have mentioned that the Nifty long term trendline support is at 4857 and the close below would be considered bad. And the slide will continue till 4800-4750, at least. But the candlestick pattern which is made today suggests that some pull back can be seen. As the bulls were more active through the day but lost control over the market in the last few hours. The pattern confirmation will be done after the candle stick pattern which will be made tomorrow. Most probably the reversal can be seen tomorrow itself, but if the Nifty starts trading below the mentioned levels then it could be considered as a caution sign.

Crude prices are still a concern. Petrol hike of Rs.10-16 and Diesel price hike of Rs.5 is possible. Price hike would definitely give some breather to the Oil Co.s in India. PSTL looks good for mid to long term. Full year results are very good. Expected to post better results then the current year.

==>> NIfty next major support at 4857

Nifty closed below 4900 at 4885. Nifty opened in the -ve zone and stayed there for the rest of the day. Nifty closed below the major support level of 4900. As mentioned that the Nifty is closed below the trenline and 4900 is a good support, but the close below the same will take the Nifty down till 4750 as per the pattern. But Nifty still have one support the long term terdline. This long term trendline was earlier discussed in the month of March, when the close was below the same for the first time in last 2 years. Nifty major trendline support is at 4857.

We had discussed about the IT sector, that was looking good.

==>> Long built up seen

Few counters that have seen Long built up is Nicholas Piramal, Tulip IT, LMW. Keep eye on the volumes and the price movement. Nifty and the banking stocks have seen good short position. Specially ICICI Bank, SBI, Axis bank, PNB.

==>> Slide show continues

Last few days I have been constantly updating the viewers about the, Nifty major resistance at the trendline. Yesterday’s close of Nifty was below the trendline (circled in the chart ). In the last few days the Nifty have been testing both the trendline (up & down). Finally at the end of the triangle pattern of the convergence of both the trendlines, yesterday Nifty closed below and today also the downward slide continued. Major depreciation in the value of the rupee to dollar and sky rocketing crude prices lead the carnage in the Indian markets.

In the last 3 days banking stocks have been shuttered badly. In my blog that was posted on 20th May it was mentioned that the close below 5030 will take the Nifty to 4900 atleast. It was also mentioned that the Nifty can touch 5400 levels but the support was also clearly mentioned. Today major support of 5010 was broken. If the Nifty makes a new low below 4900 and closes below that then the lower top and the lower bottom pattern will be formed that can again take the Nifty at least till 4750. According to the fibonacci theory 4900 seems to be a very good support. There is a temporary hault upside. See the chart for clear picture. In the morning also it was mentioned that the if Nifty trades below 5030 then book all profits…..

Inflation was flat at 7.82%.

==>> Inflation is a concern

It's Friday again... Inflation Numbers to be announced...
Inflation will be higher again in this week as rising crude prices and weeking Rupee. For the government it will not be easy to fight with the Inflation with the rupee loosing its shine. Steel prices are at all time high.
Nifty close below the trendline. If it trades below 5030 then book all ur profits. and wait for the proper direction to take futher steps. 5010 seems to be a good support.

==>> Nifty faces resistance at trendline

Just after opening of the trading session, Nifty was seen trading in the negative zone. It was down by around 50 points to make a low of 5048, but in the closing session we saw some value buying in the the forntline stocks like RIL, Tata steel, LNT that helped Nifty, pull back in the positive zone. Today Nifty again closed very near to the resistance trendline ( as circled in the chart ). As mentioned in the morning, that there are not much short seen in the Nifty future and the pull back is expected. But still the Nifty have not closed above the trendline. So a word of cautious is still there.
The close above 5120 can take Nifty to 5200-5350. Close below 5040 can take Nifty again to the recent low.

Last wednesday some calls were posted. RPL @ 179.75, Adlabs @ 675, LITL @ 505. All the stocks have royally acheived the target and within short period. Viewers can themselves see the prices now. On 8th feb i have given a call for short NTPC @ 192.75 for the price tgt of 182, the same have been achieved. Still it looks week tgt 175- 172-166.

Oil surged more than $3 to a record life time high of $132 bbl after US government report showed a surprise drop in crude stock piles & fears of a worsening supply crunch.
1. GMR Infra looks good cmp 151 with closing SL of 149.8 tgt 155. Close above 155 will take it to 163.
2. Buy Unitech above 283 tgt 293-300 Closing SL of 279.6.
3. Book Profits in Tata Steel at 926.
Fresh Built up seen in Sesa goa, Sail, RPL.
4. RPL still lookd good.
5. Tata communications above 518 with SL of 505 HOLD

==>> OIL's not well in the market......

As mentioned yesterday that its clearly seen that the Nifty is facing resistance at the trendline. Nifty saw a slide from the same level. I have mentioned that the Nifty upside is more realistic, i will stick to the same till the close is not below the lower trendline (see chart).

Oil prices are touching new highs everyday. Its heading towards $150 bbl. Glod prices are sky rocketing. The demand for the gold is at 5 year low. Rupee is loosing its shine towards Dollar. These are some of the reasons that is putting breaks to our markets for futher rally.

In the late hours there have been pull back. There are not much shorts created in the Nifty futures. Nifty futures have seen some profit booking. Fresh short built up in the Banking sector. Axis bank, SBI, BOI have seen price falls with good short built up.

Asian markets are down by 1% -1.5%. Nifty has a good support at 5070 and 5010. close below the trendline can again bring the Nifty down till 4900.