Bull Run!! Bull Run!!!

Hi All,

 

On Friday we have seen a great performance of the market, a rally of total 145 Points! Is it a good sign to bull run?

Let us study the chart.....

 

Because of Friday's up close, market made a Bullish Piercing pattern with a low of 5724, which indicates bullish trend for nifty with trend line major support, so still we are in uptrend. But looking at Weekly chart, RSI and MACD both showing Downward move of the market? 

How to build a decision then? Confusion???

 

NO! Watch the pattern carefully..... RSI Daily Chart, which show us a bullish sign supported by Heikin Ashi and Stochastic.

 

So, for time being, bear will enjoy the holiday at-least for 2/3 days, so, we can conclude, on the day of Moil's listing, market will show 6150 levels!!

 

To sum up the review, we can say intermediary market will be bullish. Considering strong buying of Oils, refinery, reality and Infra stocks, market will perform great up move in these stocks but considering Nifty, it remains sideways for next few months, with a range of 6400 to 5500. 

 

Bull and Bear traders will both make a profits in this phase but investor will loose the money with Stop loss hit!  

 

Nifty Support: 5809 - 5761 - 5721

Nifty Resist: 5924 - 5960 - 5995

 

Intraday Stocks:

1. Ashok Leyland: Long Position, Bullish Piercing  
2. Axis Bank: Long Position, Bullish Kicker
3. Birla Corp: Long Position, Bullish Engulf
4. Century Enka: Long Position, Key Reversal Pattern at Bottom
5. Glodyne Techno: Long Position, Key Reversal Pattern at bottom
6. SpiceJet: Long Position, Risky Trade

F & O Stocks:

1. Bank Nifty: Long Position, Bullish Piercing  
2. Gail: Short Position, Bearish Kicker  
3. HCC: Long Position, Risky Trade  
4. IDBI: Buy Call Option Strike Price 150, 160 
5. IFCI: Buy Call Option Strike 60  
6. ICICI: Buy Call Option Strike 1200  
7. IDFC: Buy Call Option Strike 180, 170  
8. Ispat: Long Position, Bullish Engulf, Buy Call Option Strike Price 22.50  
9. SBIN: Long Position, Key Reversal Pattern at Bottom, Buy Call Option strike Price 2800, 2900

 

If you have any query please get in touch with me.

 

Sincerely,

Mrs. Anagha A. Bhave
[Technical Analyst]
Aabhineesh Total Solutions.1st Floor, Gajanan Krupa Apt,
Sadashiv Peth, Near Nagnath Par,
Pune 411030.
94 202 14 800