Reliance Capital: A View

After, Modi coming up with new banks license in India all the trader in the stock market are having a keen interest on the stock which is getting the banking license. Among which we have Reliance who is a big player and the chance of getting the permit is very high.

Technical Perspective

The stock is showing the divergence and we can see a falling wedge pattern . On 9^th September 2014 the stock had given the positive breakout and the on 10^th September 2014 i.e today the stock had shown a Doji. And we can see the can open with a positive note tomorrow. If not; the stock can end up falling to 500 which is the immediate support. And 577 and 670 are the good resistance. The stock has a potential to make a new high.

Additional Observation

The stock is showing negative correlation from last 6 months and we have to see that the patter will continue or the old pattern will repeat. 

Technical Analysis on request: Adani Power

The stock is in a correction phase and it will correct till its support at 56/41. MACD has also given a negative crossover

Jetairways; an Analysis

Most of the aviation stocks are at a downtrend, few hit badly. I am seeing Jet airways to be a potential stock. it is forming a falling wedge along with it we are seeing divergence. The stock has even given a per-mature breakout. The target are showen above in the figure. If the stocks fail to give a breakout the stock is expected to find support at 275 

Weekly analysis of Sensex: 29th April to 3rd March 2013

The market  will  looking sluggish this week the resistance of 19712 will be a major resistance for this week the market is expected to have  18624 as a support at lower side. we are seeing a negative divergence in in Sensex, this may drive to 18624.

 Am I bullish on Sensex?

No, I expect a consolidation. We are seeing a risk building out in Sensex, as per me this week is the week for profits booking. Most of the short term players may book profit this week.

How much consolidation is good for Sensex?

18510-18000 need to be the support below which market is not healthy to grab. If market manages to consolidate below 18000 levels we may see a free fall upto 17500/16900.

A Falling Wedge in Sensex

We have seen market consolidating, these days. The cocktail of negative news have driven market near to 18000 levels. Before it reach 18000 we are seeing falling wedge pattern forming. 

A Falling Wedge

A Divergence Building up 

Simultaneously, we are seeing a Bullish Divergence forming in market. As we are seeing a gap filling have started up in Sensex. We may see a reversal @18000 level after filling up of gap; which will eventually lead to a bullish breakout in Falling wedge.

Important SAR

Technical Analysis on IVRCL Ltd

On 3rd December I had had told my opinion on my page Experiments With Stocks, The stocks went up to  +9% and gave a bearish engulfing. the price is currently ruling around 42. I was away from this stocks but a sudden Harami drew my attention.

According to me the stock have a potential to go upto 47. If it show a reversal know. If not the stock have a  support at 39.

Analysis on PVR Ltd

PVR Ltd is a technically sound company. It is on a bullish trend since June 2011. In spite markets ups and lows the stock had performed well with respect to market.

 The reasons are as follows:

•              Candle-Stick Pattern: we have seen a Morning Star on last Friday.
•       Indicators & Divergence: MACD is about to give a Bullish Cross-over. Along with that we are seeing a Bullish divergence. And RSI is neutral.

•       Moving Averages: All the moving averages are giving a clean way for this stock to sore high. We have seen a golden crossover in September 2011.

•        SAR: we have seen a recent resistance turning as a support @188. The next resistance is at 203 and so on.
•      Chart Pattern: From July 2012 we have been seeing this stock making a Bump and Run Continuation. According to me we are expected to see a 2^nd Bump and Run Continuation.

·         Conclusion: This stock was bullish for a year and it is showing a continuation. The stock is on a bullish run will continue not more that 3-6 months. The stock is at high and expected to make a higher high.

ACC Ltd

Since June we have seen ACC Ltd souring high giving a profit around 23%. It is very recent that I saw some unhealthy pattern forming in ACC Ltd as follows

1.      Rising wedge: we are seeing a rising wedge pattern forming in ACC Ltd. We saw a bearish breakout in this stock on August. After which we saw a bounce back at 1290. As per know the stock is in a bearish condition.

2.      Divergence: In spite the stock is making a HH, but MACD as well as RSI is not able to form HH and we are seeing a HL thus forming a divergence in this stock.

Some important supports

Conclusion: The stock is not looking bullish, we may see a consolidation within few days

TA: Nifty & Bank Nifty

Bank Nifty

View on Nifty

Some important support for Nifty

Technical Analysis on Request: Andhra Bank

Kindly look at corrections

Resistance as good support

My 1st Target is at 130

It is "Falling Wedge" and MACD about to cross zero-line 

Tata Steel: It’s again. I AM RIGHT

I have been saying again and again. Gaps are playing games. In spite my analysis gave whopping returns of +45% which was unexpected as per my analysis.

Later, I came with a new prediction that Tata Steel is going to fall. As there was a good sentiment in the market, the stock was successful filling the gap again. After which we saw the stock with a reversal and carrying a sideway pattern.

What’s next?

The stock is not technically strong and I am looking for a support as per the above chart. It will to too early to say anything before we see a pattern.

Moving Average Crossover Divergence is about to make an another bearish crossover

My articles on Tata Steel

1. Tata Steel: Waiting for a fall(5th March, 2012):Click hear
2. Tata Steel:Tata Steel: Regular Bullish Divergence(29th December,2012): Click hear

IVRCL: Not my bet!

Recently IVRCL stated showing sign of a possible reversal. I am sticking to my point saying “the stock is not having any potential to make a higher high.”

 We have seen correction more than expected. Which is eventually had affected the growth wave.


"Even though we have seen a bullish crossover(MACD) I stick to say, the stock have lost the potential  to mover higher."

 Last link on IVRCL:Click hear

IVRCL Ltd: Technical View

Forming Rising wedge

"Trend is your friend"

"What if it break trend?"

SENSEX: Some Interesting Facts

From very long days this support is working very crucial all the time. Before market makes a big move we have seen this type of violation as I have pointed it on my charts. I am bullish on market until the market maintains a bullish trend. Recently MACD was unable to give a positive signal, yet I am bullish because I feel market is likely to follow trend line.