Thursday, July 29, 2010

MCX COPPER TECHNICAL OUTLOOK

Date: 22 July 2010
MCX COPPER TECHNICAL OUTLOOK
TECHNICAL OVERVIEW:

MCX Copper prices have spiked up sharply in the last day closing up 2.57% from its previous day’s closing. Looking at the daily chart the counter has given bullish symmetrical triangular breakout by breaching a resistance of 317.00.We expect bull trend to follow in copper in the near term.

COPPER DAILY CHART:

Observations:

After a long consolidation between 316 and 291 for last 6 weeks, the counter has finally breached the 317 resistance and closed above 318. Prices are in positive momentum as long as holds above 308.00

• The RSI is trading above 59 and has potential to move up further. The breakout should occur with an expansion in volume, especially on upside breakouts.

• Last but not the least; Directional Index too has given positive cross over in +DI and -DI, indicating the positive momentum in the prices.

POSITIONAL CALL (2 TO 3 MONTHS): BUY COPPER MCX 319.50-321.50 ZONE FOR THE TARGET 1 340.00 & TARGET2 355.00 WITH SL OF 308, CMP 321.50

Report By: Pradeep Karnani
Research Analyst

Mobile: 09966028055

FOR PRIVATE CIRCULATION ONLY
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.

TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 9966028055 EMAIL info@trueinfotec.in http://www.trueinfotec.in/

Sunday, July 11, 2010

S & P NIFTY TECHNICAL OUTLOOK

Date: 9 July 2010

S & P NIFTY TECHNICAL OUTLOOK

TECHNICAL OVERVIEW:

Looking at the daily chart the counter has given short-term continuation bullish flag break above resistance of 5330.00 signals that the previous advance has resumed. We expect bull trend to follow in NIFTY in the near term.

S & P NIFTY DAILY CHART




Observations:

• After a 14 days consolidation in a sideways to down flag formation (small rectangle pattern that slopes against the previous trend), NIFTY breached the resistance of 5330.00 and gave a strong daily closing around 5340 levels.

• The RSI is trading above 50 and has potential to move up further. Stochastic Oscillator too has given a positive cross over which is likely to support the upside momentum.

• Last but not the least; Directional Index too has given positive cross over in +DI and -DI, indicating the positive momentum in the prices.

POSITIONAL CALL (15 TO 20 DAYS): S & P NIFTY BUY 5325-5345 ZONE FOR THE TARGET 1 5421 AND TARGET2 5515 WITH SL OF 5250, CMP 5351.00

Report By: Pradeep Karnani
Research Analyst

Mobile: 09966028055


--------------------------------------------------------------------------------------
FOR PRIVATE CIRCULATION ONLY
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------
TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 9966028055 EMAIL info@trueinfotec.in http://www.trueinfotec.in/

BOOK PROFIT IN S&P NIFTY BUY CALL

Date: 16 June 2010

BOOK PROFIT IN S&P NIFTY BUY CALL


TECHNCIAL OVERVIEW:
S&P NIFTY DAILY CHART



NIFTY is in a Price Channel (Continuation) Formation Targeting 5475

POSITIONAL CALL (4 weeks TO 8 weeks): BUY S&P NIFTY IN THE RANGE OF 4950-5010 WITH S/L 4800 FOR TARGET1: 5330 AND TARGET2: 5480, CMP 5066.55 (28 MAY 2010)

BOOK PROFIT IN S&P NIFTY BUY CALL IN THE RANGE OF 5230-5240 AT RESISTANCE ZONE

A Price channel is a bullish continuation pattern in an uptrend. The upper trend line marks Resistance and the lower trend line marks Support. Price channels with positive slopes (up) are bullish. For explanatory purposes, a "bullish price channel" will refer to a channel with positive slope.

Here is the daily chart of Nifty. It is in a Price Channel (Continuation) formation, the main trend line as a support with the prices having touched down to 4787.45 on 25 May 2010. A number of technicians have been watching it form. The advance from this new low and the subsequent pullback is expected in next few weeks. Prices are expected to move in between 4960 to 5330 levels, which is the upward price channel resistance line.

Report By: Pradeep Karnani
Research Analyst

Mobile: 09966028055


---------------------------------------------------------------------------------------------
FOR PRIVATE CIRCULATION ONLY
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.

TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 09966028055 EMAIL info@trueinfotec.in www.trueinfotec.in

S & P NIFTY HISTORY REPEATS ITSELF

Date: 28 May 2010

S & P NIFTY HISTORY REPEATS ITSELF

TECHNICAL OVERVIEW:
S&P NIFTY DAILY CHART

NIFTY is in a Price Channel (Continuation) Formation Targeting 5475

Main Trend Line: 3rd November 2009 reaction lows (4539) formed the beginning of the main trend line. Subsequent lows 4675 & 4787 in 8th February & 25th May10 confirmed the main trend line.

Channel Line: Once the main trend line was in place, the channel line beginning from the 20th October 2009 high (5181) was drawn. A visual assessment reveals that these trend lines look parallel. The channel line marks resistance in a bullish price channel,
HT1: 5309, HT2: 5399 and HT3 5475*

Bullish Price Channel: Subsequent touches along the main trend line offered good buying opportunities in 2nd week February 2010 and late May 2010.


A Price channel is a bullish continuation pattern in an uptrend. The upper trend line marks Resistance and the lower trend line marks Support. Price channels with positive slopes (up) are bullish. For explanatory purposes, a "bullish price channel" will refer to a channel with positive slope.

Here is the daily chart of Nifty. It is in a Price Channel (Continuation) formation, the main trend line as a support with the prices having touched down to 4787.45 on 25 May 2010. A number of technicians have been watching it form. The advance from this new low and the subsequent pullback is expected in next few weeks. Prices are expected to move in between 5180 to 5480 levels, which is the upward price channel resistance line.

As per the chart shown exponential moving averages are bullish cross over. A bullish crossover occurs when the shorter moving average crosses above the longer moving average. This is also known as a golden cross. The EMA 5 day (4985.70) of the Nifty is cross over the EMA 6 day (4950.20) which means bullish trend will be persists.

As per the Nifty chart, %k crosses over the % D of the stochastic oscillator. The stochastic oscillator is a momentum indicator that uses support and resistance levels. This method attempts to predict price turning points by comparing the closing price of underlying assets to its price range. The stochastic oscillator slow of the Nifty is bounces back from 20 levels (below 20 is over sold levels) and now trading at 40 levels, which means prices are in the bullish momentum.

POSITIONAL CALL (4 weeks TO 8 weeks): BUY S&P NIFTY IN THE RANGE OF 4950-5010 WITH S/L 4800 FOR TARGET1: 5330 AND TARGET2: 5480, CMP 5066.55

Report By: Pradeep Karnani
Research analyst

Mobile: 9966028055


-----------------------------------------------------------------
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.

TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 9966028055 EMAIL info@trueinfotec.in http://www.trueinfotec.in