Some Weekly Charts Studied

EXIDEIND

SUZLON

 

 

TV-18

NTPC

NIFTY Weekly Analysis

Based on weekly chart, there is strong support at 4560 and resistance at 5250.
Immediate support is at 4800 and immediate resistance is at 5150.
MACD is below the signal line, so bearish. Also, there is -ve divergence.
EM10 is above EMA20, EMA20 is above EMA50. Price is below EMA 10 and EMA 20.
In my view, NIFTY will trade in the range of 4780 and 5150.

NIFTY EOD Analysis for 29th Jan 2010

Nifty Analysis based on data for last 6 months daily chart.
Prior trend is downwards and today it has formed a Hammer pattern. The low of the hammer found support at trendline drawn from August End. This should be the end of the correction that we have been seeing since last week.
RSI is also moving up from oversold area. So, another bullish confirmation.
MACD is still under the signal line.
Overall, my view is Bullish. It should move up in the next session according to this chart.

Interpreting Charts - 29th Jan 2010

EXIDEIND

• LTP = 111.10

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA - Closed above 100 EMA. So, mainted Support. BULLISH
3. Trendline - BEARISH
4. Support and Resistance- If it goes downward, nearest support is at 105. Next support is at 100. Resistance at 115.
5. Pivot Point (Monthly) - Closed above S1. Resistance = 114, Support = 109. BULLISH
6. Parabolic SAR - BEARISH
7. Volume - Higher than yesterday. BULLISH
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook = Bullish, 1st TGT = 125.
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SUZLON

• LTP = 77.30

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA - Way above price line. BEARISH
3. Trendline - BEARISH
4. Support and Resistance- 72 and 80
5. Pivot Point (Monthly) - Closed above S2. Resistance = 81, Support = 72. BULLISH, TGT = 80
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing +ve bias, -DMI is above ADX and +DMI.  But, -DMI showing -ve bias. BULLISH

Overall Outlook = Bullish, 1st TGT = 80.

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TV-18

• LTP = 76.90

1. Candlesticks - Prior Downtrend and today it formed a Bullish Engulfing Candle. So, it should move upwards from here. BULLISH
2. EMA(28,65,100) - Way above price line. BEARISH
3. Trendline - BEARISH
4. Support and Resistance- 72 and 85
5. Pivot Point (Monthly) - Resistance = 78, Support = 71. BULLISH, TGT = 74 --> 84--> 92
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook = Bullish, because of Bullish Engulfing Candlestick.
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NTPC

• LTP = 214.80

1. Candlesticks - Prior Downtrend and today it formed an almost Doji like candlestick. Kissed support at 210 and bounced back. Closed way above the day's low.
2. EMA(28,65,100) - Way above price line. BEARISH
3. Trendline - BULLISH
4. Support and Resistance- 210 and 220
5. Pivot Point (Monthly) - Resistance = 226, Support = 214. BULLISH, TGT = 226
   
6. Parabolic SAR - BEARISH
7. Volume -Lower  than yesterday.
   
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI.  BEARISH

Overall Outlook =Wait and Watch.
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World Markets analysis as on 28th January 2010

DOW Analysis

• LTP = 10,120.46
  

1. Candlesticks - Long red candlestick with good wicks.
   
2. EMA - Closed just below 100 EMA.
   
3. Trendline - Closed on Trendline support.
   
4. Support and Resistance- 10,115 and 10,500
   
5. Pivot Point (Monthly) - Today it found support at S2. Resistance = 10,190, Support = 10,100
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +ADX cuts -DMI, -DMI showing -ve bias, +DMI also showing -ve bias.

In my view, DOW should bounce back from here after touching the support of trendline and 100 EMA. Also it has support at S2 level of monthly pivot point.

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FTSE

• LTP = 5145.70
  

1. Candlesticks - Couldn't sustain day's high and closed at day's low. Bearish indication
   
2. EMA - Closed below 100 EMA.
   
3. Trendline - Trading below trendline.
   
4. Support and Resistance- 5100 and 5300
   
5. Pivot Point (Monthly) - Closed below S1. Resistance = 5230, Support = 5090.
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI. -DMI is showing +ve bias.

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Interpreting Charts - 28th Jan 2010

EXIDEIND

• LTP = 109.45
  

1. Candlestick - Shows Indecision
2. EMA - It has broken 65 day EMA and is just above 100 day EMA.
   
3. Trendline - The Trendline was broken yesterday and closed below it. Today, it traded below the upward trendline which was drawn from end of september.
4. Support - It has support at 109 from starting of November.
5. Pivot Point (Monthly) - 109 is S1 level.
6. Volume - Lower than yesterday
7. ADX - +DMI is showing -ve bias, -DMI closed with a slight -ve bias.

In my view, the price should bounce back from this level as it has strong support in the form of 100 EMA and S1 Pivot Level.


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SUZLON

• LTP = 75.05
  

1. Candlesticks - It is a variation of Doji. The trend has been downward . It should bounce back from here. Bullish
   
2. EMA - Bearish
3. Trendline - Bearish
4. Support and Resistance- If it goes downward, support is at 67. Nearest Resistance is 84.
5. Pivot Point (Monthly) - It has bounced back from S2 Pivot Level today. Nearest Resistance is 80, that is S1 level. - Bullish
6. Volume - Lower than yesterday.
7. ADX - +DMI showing -ve bias, -DMI also little -ve bias. + DMI is under -DMI.

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TV-18

• LTP = 75.30
  

1. Candlesticks - Red Candle.
   
2. EMA - Bearish
3. Trendline - Bearish
4. Support and Resistance- If it goes downward, nearest support is at 72.30. Next support is at 70. Resistance at 94
   
5. Pivot Point (Monthly) - Today it faced resistance at S1. Resistance = 77.90, Support = 70.
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI. Bearish

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NTPC

• LTP = 216.75
  

1. Candlesticks - Yesterday it was a long red candlestick. Today it is a red candlestick with long shadows. The real body is in the middle. Shows indecision.
   
2. EMA - Closed below 100 EMA.
   
3. Trendline - Bearish
4. Support and Resistance- If it goes downward, nearest support is at 210. Next support is at 205. Resistance at 234
   
5. Pivot Point (Monthly) - Today it found support at S1. Resistance = 225, Support = 214.
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI. Bearish

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My First Post

I made a blog today to record my views on the Stock Market so that i can trade in a disciplined way.