Subscribe: Posts | Comments | Email
June 22, 2010 by | No Comments
The Nifty ended in red today after a strong rally yesterday making an inside bar candlestick pattern. Hence the high and the low of its previous candle become pretty important. The Nifty is currently in its wave iv, which can be a zigzag or a triangle, hence it can trade range-bound or sideways before expiry [...]
June 22, 2010 by | No Comments
The Yes Bank stock was under pressure Tuesday after Rabobank, one of its founding investors, sold 11% stake via block deals. Rabobank sold the stake in Yes Bank at Rs 267 a share, reports CNBC-TV18′s Nimesh Shah. CNBC-TV18 learns from reliable sources that a whole host of domestic and international investors have bought into this block [...]
June 22, 2010 by | No Comments
The shareholders of Bank of Rajasthan have approved the bank’s merger with ICICI Bank. The bank’s shareholders have passed a resolution with requisite majority under section 44A of the Reserve Bank of India (RBI) Act and will file the EGM resolution with the Bombay Stock Exchange, the National Stock Exchange and the bank. This comes [...]
June 22, 2010 by | No Comments
The Nifty has achieved its conservative target of the inverted head and shoulders pattern. Now, above 5330 there is only one hurdle for the Nifty i.e. 5400 the previous high. Once the high of 5400 is taken off, 5500 would be the next target, which is the aggressive target of the head and shoulders pattern [...]
June 20, 2010 by | No Comments
Nifty seems to have completed its first leg of wave Y of wave X up and for that 5303 becomes a crucial resistance. In the second half, Nifty as expected headed lower after giving an hourly negative close and the hourly KST formed a hinge. The current downwave has a crucial support at 5206 and [...]
June 14, 2010 by | No Comments
Nifty closed above the 61.8% retracement level of the fall from 5400 to 4786 and also above the 20 weekly moving average (WMA), which is a positive sign for the bulls. On the upside, 5270 is the next hurdle, which is 78.6% retracement level of the fall (from 5400 to 4786). On the lower side, [...]
June 11, 2010 by | No Comments
The Nifty has closed at the day’s high thereby filling the gap formed a couple of days back and in turn increasing the probability of the continuation of wave X on the upside. The Nifty has given a breakout of the inside bar pattern on the upside, which is another reason for the bulls to [...]
June 9, 2010 by | No Comments
Despite sliding into red during the session, Nifty ended the day in green—and this means that the probability of continuation of wave X still exists. On the lower side, 4961 is acting as a crucial support for a couple of days now—and till that is held we continue to maintain our short-term bias up. On [...]
June 9, 2010 by | No Comments
Reliance Industries plans to reopen about 750 closed retail fuel outlets, reports CNBC-TV18, quoting Dow Jones. Sources said RIL now owns 1,400 retail fuel outlets. It operates about 650 fuel retail outlets. India’s largest private sector refiner may also consider opening new fuel outlets. Sources said RIL is likely to study reopening these outlets if [...]
June 7, 2010 by | No Comments
Nifty closed in green but there is not much to cheer about as it closed with marginally gains on pretty low volumes. This is what typically happens in wave X—the volumes don’t support the rise in price. However, the daily and hourly momentum indicators remain in buy mode keeping the short-term trend up, but the [...]
Duis aute in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur non proident fugiat nulla pariatur.
Fugiat nulla pariatur Enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.