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.