September 30, 2014

Hot stocks



Market outlook

Some signs of buying today which got fizzled out soon.

So the impact of Friday's apparently "good news" of S&P upgrading India's outlook did not impress the market. So much for fundamentals. And when markets sell off on good news or ignore them, it means something else is happening.

CNX IT index

Trend is up and will reverse on close below 10800

September 29, 2014

Small cap index chart

Trend is down... more downsides below 4800.

Weekly charts shows support very well

Market outlook

Friday's bullish piercing bar failed to generate any follow through buying thus negating any bullishness the one day rally created.

This means the previous trend i.e. down is likely to continue.

Weekend update

On EOD charts, we had a bullish piercing bar - this has bullish implications as long as today's low 7840 does not break.

Further confirmation will come if we have a gapup opening on Monday (i.e. above 8020 spot).

Inability to sustain at higher levels can mean weakness and negation of any bullishness attributed to the piercing bar.

The broader trend as per swing theory is down... this will get negated if markets close above 8200 spot.

Option writing points to support at 7800 and resistance at 8200.

Stock futures charts

Analysis of some futures stocks showing trend and key supports/ resistance. All levels are in futures.

Horizontal lines refer to levels of support and resistance.

September 26, 2014


Breakout above 15600-15700 failed.

BNF also broke the swing low formed at 15775 thus indicating a change of trend.

RELIANCE breaks support

Stock has been a sell ever since it broke 1060.

Now it has broken and closed below key support at 960.

My buy above level is still 1045.

See chart....

September 25, 2014

Sell signals

A lot of signals... this will increase in the days ahead, looking forward.

And here are some charts...