Pidilite Industries - Trending channel

• Wait for the trending channel to break.
• Currently in a 3rd wave from 133.65.

Hindustan Zinc - Trading Channel - Support Levels

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• For investing, levels to buy: 90-85. 
• Fibo Support 50%@89. Resistance at 20 DMA

FAG Bearings - Cloud Breakdown - Supports

• For the first time in 2 years, FAG Bearings closes below Weekly Ichimou cloud. Long term trendline already taken out.
• Trending down in a perfect channel.
• MACD Negative Divergence and GMMA levels breakdown.
• Supports at  1135-1150. Close below these levels means retracement for the upmove from 760 and 500 levels.

Bharti Airtel - BROAD Descending Triangle pattern.

• Airtel trading in a long term Descending Triangle pattern. 
• Levels to SHORT in the coming weeks - 365-370. SL 375. Above 380, there will be breakout towards higher levels.

Berger Paints - Death Cross - Support & Resistance Levels

• Price is trading in a perfect channel.
• On Weekly charts, there is bearish MACD crossover and price bounced from trendline support.
• On Daily charts, price gave a Death Cross and is below Ichimoku Cloud@220 and100 DMA@ 220. Negative Divergences seen in MACD and RSI.
• Next supports- 200 DMA and trading channel support - 191 and 185 respectively. 
• Resistance -100 DMA - 220.

Kajaria Ceramics - MACD Triple Divergence

• Triple Divergence on MACD chart. Confirmation will come if price closes below 100 DMA. Close below 100 DMA will push the price towards lower end of the trading channel.
• Levels to watchout - 220, 100 DMA, trendline support (currently around 200 levels)

Hindalco - A BROAD Falling Wedge Pattern

• Hindalco is displaying a BROAD Falling Wedge pattern. Breakout or breakdown to result in a BIG move.
• In short-term, expect prices to reach around 80 levels.

Shriram Transport Finance - Weekly Cloud and GMMA levels

Weekly Cloud and GMMA Levels

• Weekly Closing ABOVE and BELOW the weekly cloud combined with GMMA crossovers worked very well for trending moves. Expect a fall towards the support trendline.
• Short-term supports and comments on the 2nd and 3rd charts.

AMARARAJA TRIANGLE Pattern. Breakdown or Breakout to result in a BIG move.

• Amaron forming a "Triangle" pattern. Break-down or Break-out of the triangle results in a BIG MOVE. Wait for it. Levels are displayed on the chart.
• MACD and MACD Histogram are displaying Positive Divergence.
• Till now 38.2% retrace@ 238 has held on nicely. Close below 238 ==> next target 211.
• Weekly MACD yet to give a BUY signal. Weekly closing above the triangle (in the DAILY chart) may result in a BUY signal.

SOLAR INDUSTRIES Weekly Trendline chart

• Solar Industries - technical weakness due to "Death Cross". 
• Supports as indicated in the chart.

YESBANK Supports/ Fibo Levels & Investing levels

• Conservative Investors: Buying range around 360-340 with SL 320
• Aggresive Investors: Can start accumulating from 380-340 with SL 330.

BANKNIFTY nearing support levels...Time for a bounce???

BANKNIFTY Weekly nearing crucial support levels.

BN at  Monthly Ichimoku cloud.

BN at 50% Fibo level.

• Weekly MACD yet to generate a buy signal. Monthly MACD ready to generate a bearish crossover signal. Weekly and Monthly closing levels are crucial.
• BANKNIFTY may bounce for 1-2 weeks if the support levels are held. For levels check the inline comments on the 3 charts. 
• Next resistance at 50Wk SMA.
• Eventually, in the next 1-6 months, I expect BN to breakdown  below its major trendline. It may happen this month too (after 1-2 weks)  if Nifty is to break towards 5600. 
• Currently, chances of a pullback rally in BN.

INFOSYS LONG STRANGLE Strategy

Buy 3000/3100 CE and 2600/2500 PE depending on the intraday supports and resistances. Time the trade so that the strangle is placed equally on both sides from CMP/ EOD closing. Beware that INFY options premium is high compared to  the time of Jan 2013 results. 

Two choices - Breakout or breakdown:

Breakout:  3000 has been a stiff resistance and bulls will likely target 3000 and simple trading range breakout pattern should give a 200-300 point move on upside breakout giving a minimum target of 3200-3300. "3000 CE"

Breakdown: 2760 should NOT be violated on a weekly(12th Apr 2013, Friday) closing basis. (Not that gap-down gives a chance to enter a trade :) ) 2500-2600 should the minimum targets on the downside. "2600 PE"


11 Jan 2013 Options Move - screenshot to be updated along with 12 Apr 2013's move tomorrow EOD
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One day before last quarter result, Infy closed around 2320 (approx) and on result day closed around 2712 -

• option long strangle of 2000 PE(~0%) and 2600 CE(~1858%) gave a combined return of 9X.
• option long strangle of 1900 PE (~0%) and 2700 CE(~2952%) gave a combined return of 15X.

HINDALCO Mar 06 Update

Hindalco update to the chart posted on Mar 03 at http://patternswavesandnumbers.blogspot.in/2013/03/hindalco-update-mar-03.html

• As long as the price remains in the channel, bears have an upper hand. Bulls need to break out above the resistance to gain control.
• Next resistances @ 105-106. 20 Day SMA also around 106.
• If the price breaks out from the channel, MACD likely to give a bullish crossover. 

TATAMOTORS Mar 06 Analysis

• TATAMOTORS breaks out of Contracting Triangle pattern. Breakout supported by good volume. 
• If the price doesn't go fall back into the pattern ( if it does, it's a false breakout), next resistances according to the trading channels are around 321 and 337.  Magic of numbers: 321 and 337 are also the previous tops :)
• Today's high around 311 was also the 61.8% Fibo level  of the retracement of the fall from 337.4 to 268.7 :)

RELIANCE Mar 06 Analysis

Reliance Fibonacci Levels

Reliance trending down in a channel

• Reliance took support at the long term trendline and likely to target upper end of the downtrending channel.
• Resistance comes around 20 day SMA @ 850 =~ Crucial Fibo level @ 847 =~ Upper end of the downtrending channel. SHORT around these levels
• BUY on close above 850 or whenever it breaks out of downtrending channel. 
• Observe that MACD is getting ready for a Bullish crossover and the recent bounce happened with decreasing volume (not a perfect bullish sign)
• As long as Reliance remains in this downtrending channel, bears have the upper hand.  

NIFTY Mar 06 Intraday Levels

• Yesterday, Nifty achieved intraday target of 5790 after both Nifty and BankNifty broke out of the downtrending channel at 5750 and 11650 respectively.
• Hour and Day T/F closed positive and Nifty looked setup for a reversal pattern with a positive divergence on RSI.
• BankNifty looks set to test the  neckline of the broken H&S pattern.
• Nifty looks set to test the previous supports at 5820-5840.
• Let's see how the numbers are stacked up against Nifty

5826 is the 5 Week EMA.
5834 is the 38.2% of the move from 6112 to 5664.
5846 is the 20 Week SMA.

Intraday Resistances 5810/5834. Sell zone: 5820-5834. SL 5838. Breakout above 5838, which means a good chance of 90-100 point intraday move. But, beware of the 20 day and 100 day SMAs at 5857and 5844 respectively.
Intraday Support 5750/5740. Buyzone: 5740 +/-10. SL 5730. 

SBIN Mar 05 Update

Follow-up to the SBIN chart posted on Mar 03 at  http://patternswavesandnumbers.blogspot.in/2013/03/sbin-mar-03.html

High for the day = 2121 is the 38.2% Fibo retracement level of the fall from 2236 to 2051  

For any further upmove, 2121 has to be taken out along with BankNifty resistance at 11700. Beyond 2121 SBIN can target 50% and 61.8% Fibo levels at 2143 and 2165 levels. But, the trend is clearly down (negative on higher timeframe - month ) and unless there are reversal signals, stick with the trend and go short. 

NIFTY Mar 05 Intraday Levels

• The previous support of 5749 to act as a stiff resistance. 34 Hour SMA @ 5749.5749 is also the breakout level of the downward sloping channel of the fall from 5850 to 5664.
• High Reward- Low Risk Trade: Resistances/ Sell Zone: 5735-5745. SL 5750. Beyond 5750, there will be an intraday breakout, which means a move of 90-100 points giving targets of around 5790-5800
• Supports/Buy zone: Recent lows around 5660/5671. SL 5650.
• Bank Nifty is forming one more Head & Shoulders pattern: Resistances -11700-11750 and previous higs of 11800 zone; Supports - Recent lows around 11400 and below which 11120/ 11200 

IFCI Mar 04 Analysis

• IFCI in a nice TRIANGLE pattern. Weekly MACD gave a BEARISH crossover.
• Weekly close below 27 is likely to trigger AT LEAST a 10 point move on the downside.

NIFTY Mar 04 Intraday Levels

POSTIONAL: 

SELL on RISES. Nifty likely to target 5600. 

INTRADAY:

• Supports @ 5690/5660
• 5 Month Low EMA @ 5665
• Sustaining below 5660 will lead to an intraday breakdown, which means an intraday move of 90-100 points.
• Friday High made for the day 5739.

On Fri, Mar 1, 2013 at 9:27 AM, Sandeep Koppula wrote:

Fibo retracements of the last fall of 5850 to 5670 @ 5712 (23.6%)/ 5738 (38.2). Short depending on your risk appetite. Aggressive short - 5712; Conservative short - 5738 

NIFTY Mar 03 Analysis

• 38.2% Fibonacci retracements of the rise from 4770 to 6112 @ 5600
• Potential of series of Head & Shoulder patterns in play.
• ADX in strong trending phase. Daily MACD in sell mode.
• 200 Day SMA @ 5550 =~ Previous Nov lows @ 5548
• Unfilled gap range is 5530 to 5440 (also coincides with 50% Fibo @5447)

• Weekly chart that was mailed to friends on Feb 22: Uploading here just for educational purpose - Chart clearly shows the start of MACD Bearish crossover which means more downside.

SBIN Mar 03 Analysis

• Weekly chart displays the FIbo levels from 891 levels to 3515. Crucial support at 61.8% level 1894.
• Observe that the long term trendline also coincides with 61.8% Fibo level.
• ADX in strong trending phase. Immediate supports at 2040 & 2050. Close below BOTH these levels, bears to target 1900 levels.

HINDALCO Mar 03 Analysis

• HINDALCO in a nice downtrending channel - ADX confirms the trend.
• Bearish Crossovers on both Weekly and Daily charts
• Broke an important support level 100; BEARS likely to target 90-92 levels in the shortterm, unless BULLS break out of the downtrending channel.

APPLE Mar 03 Analysis

AAPL - Multi-year  Trendline

AAPL - Trending down in a channel

• Shortterm: APPLE likely to test the crucial Fibo level of at least 50% (392-400).
• Medium/ Long term: If the BULLS can't break out of the down trending channel, BEARS likely to target strong supports at 350 and 61.8% level.
• Beware of the positive divergence