#Nifty #BankNifty Weekly Ichimoku Analysis

Weekly Analysis - Date : 20 - 26 Dec 2015

TrendMaster_ Nifty & Bank Nifty Weekly review.

  

Nifty on pullback mode as it has bounced from the demand zone of 7540 which was the previous swing low. Nifty failed to breach the previous swing low of 7539, forming a higher low.

Analysis – Nifty in contraction mode ahead as the bounce to the zones of 8090 is due on weekly charts.

Longs in small quantity can be initiated with stop loss of 7540. Nifty will retrace to the upper end of the retracement zone in short term.

Bears are resting and we may not see huge volumes and volatility as Global Market will be witnessing Holiday season ahead. No major clues from the Global Market till Mid Week of  January 2016.

Verdict – Longs on every support zone of 7720 - 7660 – 7610 with stops below 7540 | Target zone near to 7980 – 8090 in short term.

BankNifty similarly following the footsteps of Nifty. Bounce to the retracement zone to find the equilibrium, Resistance levels of 17080 – 17290  - 17490 in short term. Over all banking stocks are weak on major timeframes. One should wait for the trigger and good support from the bank index stocks to show some strength. BankNifty may not perform that well like wise Nifty Index in terms of the Pullback unless the stocks turn positive or some short covering is witnessed.

Watch out for banking stocks to support the Bank Index. If not then one should avoid any longs and shorts in Bank Nifty till the trend is not clear.

Verdict  -  Small longs can be initiated on the levels around – 16300 – 16180 with stop loss below 15900 closing basis. 

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IndiaBulls Hsg - Correction Ahead

#IndBullsHsg.

Weakness ahead in the stock; as the stock has been in strong up trend; now seems to be loosing the steam and no value buying at the life time highs for the stock. No Buyers at these High Price, Bears are back and making merry on the trade. Drop of 100 points not ruled out in short term. 

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Aditya Birla Nuvo - Correction Ahead !

#AbirlaNuvo - 

Daily Charts show exhaustion and correction ahead. Trading around weekly Supply zone of 2372 - 2380; Low risk trade can be initiated at these levels with target range of 2100 - 2050 - 1950 levels in short term. The Stocks has been Strong up trend since July 2015 from the Breakout levels of 1850.

आदित्य बिरला नुवो २१०० - २०५० के सतर तक आ सकता है !

२३८० के सप्प्लाय जोन से करेक्शन की उम्मीद 

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Nifty & Bank Nifty Weekly View

#Nifty #BankNifty Weekly Ichimoku Analysis.

#Nifty on weekly charts struggling to close above 8600, Holding near to Kijusen is a worry. Rising Wedge formation in weekly time frame indicates contraction on the upper side and impending breakout soon. Either side breakout will trigger long term momentum flow. Crucial levels of 8600 - 8680 on higher band and 8180 -8080 on lower band. 

I my view market would contract more on the upper levels of 8600-8580 in coming days before confirmation of trend. I would wait for the breakout and confirmation of the same with valid price action on weekly charts.

(Atleast  1000 pts movement on either side cannnot be ruled out)

#BankNifty following Nifty in pattern formation hard to close above 19200. Trading range locked at 18200 - 19200. Close either side on weekly basis will confirm trend in coming sessions. Bullishness prevails as price still trading above cloud on weekly charts; but weakness in price movement indicates short term reversal. On daily charts Banknifty trading near to channel top around 19100 - 19200 levels.

In my view market would consolidate and may hunt some stops for bears near 19400 levels before exhaustion and reversing to the lower levels of 18400 - 18200.

PS - Swing Traders and Positional Traders should wait for weekly price action confirmation for good profits.


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Disclaimer - Views expressed in the above said article is for study purpose only and DO NOT Solicit any Buy or Sell Trade in the above said Index.…

PNB - Weakness Prevails

#PNB

Punjab National Bank - Weak as per indicated in post few days back. 

http://trendmast.blogspot.in/2015/08/pnb-weakness-ahead.html

One can short with stop loss of above 165 for target lower 148 - 144 and below.

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BankNifty - Exhausted !

#BankNifty

Heavily Overbought on Daily Time Frame and Facing Sloping Channel Resistance at 19040 - 19100 levels. Failure to move above 19200 - 19300 will trigger the selloff with targets of lower channel support of 18175 - 17800 in short term and worst up to 17870. 

Low Risk Trade ; One can short with valid bearish price action in BankNifty.

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(please read the diclaimer below)

Hexaware - Fake Break

#Hexaware

Fake Breakout with strong bearish price action indicates Bears are in control; with trageting lower trend line at 260 & 250 levels in short term.

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TataMotors; Sell Trade Opportunity

#Tatamotors

Breakout from Channel indicates weakness on 60 Min Chart in Tatamotors. Trading at 375 - 376 while I am posting this update. See the Chart posted for reference.

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ICICI Bank

#ICICI BANK

ICICI BANK is a good buy in correction around 296-292 as the stock is given breakout on kumo on daily charts. wait for Bullish price action evidence around the said levels for long entry.  Targets seen near ti 325-336 In short term.

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#Zeel Breakout on Weekly Charts

 #Zeel  

Zeel

#Zeel weekly on verge of good breakout - Trading to lifetime highs; bulls totally in command. See upmove of 100 pts in near term. Look for Valid Price Action.

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(Disclaimer - The above chart is for study purpose only)

#Nifty & #BankNifty View

#Nifty 

Get Ready for some chopping action as market facing hard resistace at 8540 - 8580 levels. A NO from RBI was not inline with expectations, Market did react very well to this surprise. Open High and remain all day below the level of 8565 was a bit concern for Bulls. Range locked in at 8580 - 8300 for short term. Still Weekly close will be very crucial. Still in Bullish Territory so not much to worry about. Banking Stocks holding very strongly as Finance Ministry gave boon of 70,000.00 Cr for ailing PSU Banks. 

Market is a good buy on correction around 8300 - 8280 levels. 
View - Sideways to Bullish

Important Levels in Nifty - 
Highs - 8580 - 8640 - 8780 - 8840
Lows - 8300 - 8280 - 8180 - 8080


#BankNifty 

BankNifty Key to Next Rally; Too strong even after denial from RBI on rate cut. Huge Volumes building from last 5 sessions, sure this index will breakout from the long term trend line as shown on daily chart. Close above 19050 & 19100 will trigger rally up to 19786 - 20000 in no time. Impending Bullish Crossover ahead will put the BankIndex in Strong Bullish Momentum. 

View  - Bullish

Important Levels in BankNifty
Highs 19200 - 19450 -19786 - 20080
Lows - 18600 - 18200 - 17900 - 17680

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#Cipla - Overbought

#Cipla

Cipla Validated breakout; but overbought in terms of Ichimoku. Will correct to the lower side of 663 & 650 before fresh up moves. Stiff Resistance at 720 - 725 Levels. Though It may spike for Stop Hunting. Look For Bearish Price Action for Valid Short Trade.

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PNB - Weakness Ahead

#PNB - Punjab National Bank Corrected sharply from 130 levels to 158 Levels in no time; Stiff Resistance at 161 - 163 levels in coming sessions and near to Fractal Resistance of 168. Look for Bearish price action to short sell the stock for targets lower than 140 - 130 respectively. Overbought on Daily Charts will add pressure to the stock in coming sesssions.
(please read the disclaimer below)

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BANK OF BARODA

#BANK OF BARODA 

Bank of Baroda trendline breakout with volumes on weekly chart.  Buy in pullback. With target of kumo top at 200 Levels. 

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BankNifty -Weekly

#BankNifty Weekly trading at channel resistance and upside with huge volumes will move this index to new highs in coming weeks. Breakout Retest and now again at the channel resistance indicates the bulls are charging hard. Ahead of RBI Rate cut news clearly bulls are holding the index strongly. One major resistance at 19040 and 19200 levels once close above this levels on weekly, will move the index to lifetime highs.

#TrendMaster_

#Nifty Weekly Strong Close just above 8530 suggest bulls are back and will push higher in coming sessions. Kijunsen at 8529 was a hurdle now a strong support ahead if nifty closes above 8680 next week. Rally up to 9000 in coming sessions as market has formed good support at 8300 - 8400 last few weeks. 

My target will be 8740 - 8864 - 8980 - 9080 in coming weeks.

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