Stocks closing below 20 days low

LAST updated: 20-AUG-2015 

• These charts are for educational purposes only.
• This is not a recommendation to buy or sell
• Follow the trend... if stock is above last month's high, trend is up and vice versa.
• Golden stoploss: min 10% or last month's low (long position).
• Never risk more than 1% of your capital on any trade.
• All charts are provided by icharts.in

ARVIND MILLS

Market outlook

- nifty trend is down
- today nifty closed 1.4% in negative
- advance decline was negative
- notice cluster of supports around 8300 levels
- below this next support 8200
- option writing support 8200 resistance 8500

NIFTY futures intraday charts

- break of initial trading range was short trade on 5 min charts
- cover at close

On hourly charts,
- nifty broke the supports formed over 3 days
- and is now likely to retest or break bigger support at 8340 F
- real correction will start below this level.

Nifty is Warning Cautions for Sharp Decline in Short Term

By analyzing all conditions on charts, there are possibilities for a sharp decline or downward jerk from present levels or from 8530-8355 levels in very short term. There are rare chances for Nifty to go above 8555 before a reasonable correction. Minimum Correction we can expect till 8321.

Short term strategy should be “Sell on Rise” as also mentioned in my last 3 reports. Nifty consolidated in 8430-8530 range for 3 sessions and now a break is pending, most probably on down side. So, Sell on rise would be best trading strategy for short term. 8561 can be the positional stoploss for shorts which can be reduced further if Nifty decline below 8420.

Read full post with charts at http://sweeglu.com/nifty-is-warning-cautions-for-sharp-decline-in-short-term/

Jesse Livermore's trading rules written in 1940s

Go for a business any idiot can run

RBI gives in principle approval for payment banks

The Reserve Bank of India (RBI) gave approval in principle for 11 entities on Wednesday to set up payments banks.

They are India Post, Reliance Industries Ltd., Aditya Birla Nuvo, Tech Mahindra, Sun Pharma, National Securities Depository Ltd., Airtel M Commerce Services Ltd., Vodafone m-pesa Ltd., Cholamandalam Distribution Services Ltd., Fino PayTech Ltd. and Paytm.

Payments banks will accept deposits upto Rs.1 lakh and remittances, but will not advance loans or issue credit cards. So in other words, they will provide barebones facilities aimed at covering the vast swathe of population that has no access to financial services. They will take deposits, convey remittances and dispense payments to recipients, making them ideal for migrant workers who need to send money home, for instance. 

20 years from now

NIFTY Fibonacci projections hourly charts

I am assuming the fall from 8650 to 8350 is an impulse.

AMTEK AUTO down 30%

Something is funny...

And this is the chart of subsidiary/ associated company - I have already commented on this before.

28 days of continuous lower circuit.

Some related news:
http://www.business-standard.com/article/markets/amtek-auto-tanks-over-30-on-heavy-volumes-115081900492_1.html
http://www.moneycontrol.com/news/buzzing-stocks/amtek-auto-plunges-39-what39shurry-to-sell-today_2632641.html

SEBI disclosure applicable

ONGC nearing multiple supports on monthly charts

SEBI disclosure applicable

TATA STEEL near trendline support on monthly charts

Let's see if this breaks... buy signals will take some time to come.

SEBI disclosure applicable

HINDALCO monthly charts

- trend is down on daily, weekly and monthly charts
- on monthly charts, support is at 83 levels.
- below this, next support is around 40 levels.
- there is no buy signal as of now.

SEBI disclosure applicable

Market outlook

- trend is down on daily charts
- today markets closed in positive but advance decline was flat
- note that markets are still trading within Friday's hi/ low range
- bigger trading range is 8300-8700
- option writing support at 8200 and resistance 8600.

NIFTY futures intraday charts

- note markets were trading today in last 2 days hi/low range
- so trade posted is hypothetical
- trade long above initial trading range
- cover on trailing SL hit

Hourly chart shows trading range clearly

Doomsday clock for global market crash strikes one minute to midnight as central banks lose control

When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal.

Time is now rapidly running out. From China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.

The FTSE 100 has now erased its gains for the year, but there are signs things could get a whole lot worse.

Read complete article at http://www.telegraph.co.uk/finance/11805523/Doomsday-clock-for-global-market-crash-strikes-one-minute-to-midnight-as-central-banks-lose-control.html

FTSE opens in negative

Note that current bar is dynamic.

Also expect support near JUL low - but I think it will break.

Ghost airports highlight risks as Modi spends to grow

JAISALMER, India (Reuters) - Two-and-a-half years after the completion of a new $17 million terminal building, the airport in Jaisalmer, a small and remote desert city in Rajasthan, stands empty.

Not a single passenger has passed through the gates of an airport big enough to handle more than 300,000 travellers a year, with parking bays for three 180-seater narrow-body jets.

India has spent more than $50 million since 2009 on eight airports that do not receive scheduled flights - white elephants that are a reminder of the pitfalls for Prime Minister Narendra Modi as he bets on an infrastructure drive to fuel growth.

Read full article at https://in.finance.yahoo.com/news/ghost-airports-highlight-risks-modi-030706202.html

Wiki article on this airport - airport construction completed in March 2013 but no flights landing here.

Hot stocks and charts

LAST updated: 18-AUG-2015 

• These charts are for educational purposes only.
• This is not a recommendation to buy or sell
• Follow the trend... if stock is above last month's high, trend is up and vice versa.
• Golden stoploss: min 10% or last month's low (long position).
• Never risk more than 1% of your capital on any trade.
• All charts are provided by icharts.in

Market outlook

- trend is down on daily charts
- market trading in Friday's range
- immediate support area is around 8300.
- below 8300, expect correction to 8200-8000 levels.
- Option writing points to support at 8200 and resistance at 8600.