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