India\’s NSE Stock Trading index slumped nearly 1.5 percent on Friday, posting its biggest single-day fall in nearly 4-1/2 months as blue-chips such as ICICI Bank fell on risk repugnance after crude oil scaled nine-month highs on swelling violence in Iraq. The Bombay Stock Exchange Sensex closes at 25229 were down by 328 points or slumped by 1.36 percent. Nse Nifty Closes at 7543 were fallen by 108 points or fell by 1.41 percent BSE Midcap index lost by 2.5 percent whereas the Smallcap index ended 3.1 percent loss in intraday trade.

Sensex Major Resistance on Upside at 25549-25868-26187

Sensex Major Support on Downside at 25043-24856-24537

Trend Deciding Level at 25362

Nifty Index Major Resistance on Upside at 7635-7727-7819

Nifty Index Major Support on Downside at 7489-7435-7343

Trend Deciding Level at 7581

Major Headlines

Dewan Housing shareholders okay issue of securities via private placement

City Union Bank block deal: 2.47 cr shares exchanged on BSE at Rs 73.75/share

Bank of India seeks shareholder nod to raise up to Rs 5,745 crore

Ashok Leyland receives order for 2,200 buses from Sri Lankan Govt

Zee Learn denies reports of stake sale in company to raise Rs 300 cr

Hero MotoCorp block deal: Bain Capital sells 46.3 lakh shares at Rs 2635.95 – 2643.05/share on NSE, BSE

Lupin launches generic Cipro for oral suspension in US

Nifty Indices

Nifty has finally broken the range on the lower side and closed in red, down 108 points at 7542, for the week. This is a sign of trend reversal. The Nifty seems to have completed the wave III of 3 and now wave IV is expected to start which will take the prices back to the previous fourth wave, ie till 7118 levels. On the higher side, the day’s swing’s high of 7679 becomes a crucial resistance and till that is held the overall trend shall remain down. The Bank Nifty too seems to be heading lower in its wave C down. The previous rise was a three-wave rise following which the next five waves down have started in case of a regular flat pattern. In this fall, the Bank Nifty seems to be falling till its previous fourth wave level, ie till 14700 levels. The international crude oil prices have broken out on the upside from a consolidation which is a negative sign for equities in an inflationary scenario. So based on these observations we think that the Nifty has topped in the short term. Therefore, we reverse our bias from up to down for the target of 7118, which is between 38.2% and 23.6% retracement of the wave III.

The momentum indicator has gone in sell mode with a negative divergence on the daily chart and that’s quite a negative sign for bulls as this confirmation from the Know Sure Thing will favor bears

In the daily chart the index is trading above the Twenty-day moving average (DMA) and the Forty-DMA, ie 7413 and 7191 respectively. The thrust indicator is trading in positive sort on the daily chart

In the hourly chart, the Nse Nifty is trading below the Twenty-hourly moving average (HMA) and the Forty-HMA, ie 7622 and 7568 correspondingly, which are vital intra-day levels. The hourly impetus indicator encompass turned negative.

The market duration was turned negative with 309 advances and 1286 declines, Unchanged 35 Total Issue 1630 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 7648-7735-7821

Nifty Future Major Support on Downside is at 7509-7457-7370

Trend Deciding Level at 7596

Bank Nifty Major Resistance on Upside at 15516-15885-16254

Bank Nifty Major Support on Downside at 14952-14757-14388

Trend Deciding Level is at 15321

5 Daily Moving Average @ 7625

50 Daily Moving Average @ 7048

200 Daily Moving Average @ 6345

5 Days Relative Strength Index @ 80 and 49 Days Relative Strength Index @ 66 INDICATES NIFTY PLACED IN EXTREME BULLISH ZONE, WITH BEARISH MOMENT.

Stock Trading Tips

Buy Nifty Fut Jun Intraday above 7580 sl 7555 Tgt 7600-7625 {Or} Sell Below 7530 sl 7555 Tgt 7510-7485

Buy Bank Nifty Fut Jun Intraday above 15180 sl 15130 Tgt 15230-15280 {Or} Sell Below 15080 sl 15130 Tgt 15030-14980

Curious Fact

Cheetahs are so fast that when they start to run, they can reach 113 km per hour in just a few seconds. Their eyesight is incredible too-they can spot a prey from almost five km away.

Article Source: http://www.charanwings.com/blog/post/Nifty-Bear-Slap-and-Stock-Trading-Tips

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Author Bio: Mr. Kiran Kumar Reddy, Technical Analyst and Founder of Charanwings Advisory Services providing trading advisory services in Equity, Derivatives and Commodity. He provides advisory services to large number of retail as well as Institutional Investors and traders and His advisory services giving back support to various broking houses and product support in Stock Futures, Commodity Tips to Dalal Street Investment Journal (dsij) since May 2012. He is also having good command in elliot wave theory his articles have also been published in various financial websites and he is also contributing daily news letter on equity market, which were published in Indian notes website. He also made a guest appearance in various workshops which were conducted on stock market awareness http://www.charanwings.com

Category: Finances
Keywords: Intraday Tips,Stock Market Tips,Stock Trading Tips,Futures Trading Tips,Options Trading Tips