Tuesday, January 31, 2012

Target for Nifty | Technical Chart | 31-Jan-2012

 



Below is the technical chart of Nifty, with ichimoku indicator.


 


  


 


As expected, Nifty has started correction. It's first support will be at kumo viz. @ 5061 and then at 4967. However, if kijun-sen line remains flat, it will surely drag Nifty to the levels of 4901 in coming trading sessions.


Tuesday, January 17, 2012

United States Natural Gas Fund L.P. (UNG) | 17-Jan-2012

 Let us see the technical chart of United States Natural Gas Fund L.P. (UNG) using Ichimoku Kinko Hyo indicator.



As seen in the chart, the price is trading below kumo from the last many days. So, it is in bearish mode. Do not hurry to buy even at these levels as there is no signal of positive in the chart yet. 8.6 is the major resistance on the upside but there is no major support level on the downside. Free fall is here.

EURAUD Technical chart | 17-Jan-2012

 Below is the technical char of EURAUD currency pair on H4 time frame. The indicator used is Ichimoku Kinko Hyo.



Ever since, it closes below kumo @1.29903 on 20-Dec-2011, it is moving downward. Never tried to cross or even touch kumo. Simple downtrend. Still, price is trading below kumo. So, do not take any long position in this currency pair. 1.22326 is the immediate target for it.


 

Do not take long position in EURUSD | 17-Jan-2012

 Below is the technical chart of EURUSD currency pair with Doda-Donchain and Doda-Bollinger Bands. Time frame used is H4.



Although Doda-Donchian is about to give buy signal in this currency pair, but Doda-Bollinger bands is quite far from price. So, there is no hurry in taking long position. Secondly, EURUSD will face tough resistance till 1.28598. So, till there, it will move here and there. In any way, avoid taking long position here. And do not miss any short position, if signal given from Doda-Donchian indicator.

Tata Motors Technical Chart | 17-Jan-2012

 



Below is the technical chart of Tata Motors, listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


 


Ever since, Tata Motors closed above kumo @186.30, it is moving upward. Even now, there is sign of weakness here. In its weekly chart, it is trading inside kumo. So, it will face resistance @222.80 to 225. Major support is at 199. Take your positions accordingly.


State Bank of India (SBI) Technical Chart | 17-Jan-2012

 



Below is the technical chart of State Bank of India (SBI), listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


  


 


In the last trading session, SBI touched the upper end of kumo viz. @1837. One can buy SBI stock once it closes above 1837. Make a stop loss of 1821. After that, after few trading sessions, it can touch 1794. Add your positions more on that level.


Infosys Technical Chart | 17-Jan-2012

 



Below is the technical chart of Infosys, listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


 


 



 


Infosys stock price is trading below kumo. So, there is no point in purchasing this stock at this level. Chikou-Span (CS) line is trading inside kumo. Once is starts trading below kumo, i.e. below 2564, one can take short positions in this stock. 


Long position is suggested only above 2760 and not before that.


ICICI Bank Technical Chart | 17-Jan-2012

 



Below is the technical chart of ICICI Bank, listed on Indian stock exchange, using Ichimoku kinko Hyo indicator.


 


  


ICICI Bank stock price is trading inside kumo, which is a no-trade zone. It's main resistance is at the upper end of kumo viz. @821.30 and below its support level is at kijun-sen line viz. @724.70. Take long position only when it closes above 821.30


Saturday, January 14, 2012

Himachal Futuristic Ltd. Technical Chart | 14-Jan-2012

Below is the technical chart of Himachal Futuristic Ltd., listed on Indian stock exchange, using ichimoku Kinko Hyo indicator.


 


 


 


Yesterday, the price of Himachal Futuristic Ltd. closed above kumo; so is the chikou span line. Thus, giving bullish kumo breakout. One can buy this stock for the target of 14.61. Make a stop loss of 12.65 as the price is trading near strong resistance area.


 

HDFC Bank Ltd. Technical Chart | 14-Jan-2012

Below is the technical chart of HDFC Bank Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.

 


 


Although the price has crossed kumo @455.70 few trading sessions back, the Chikou-Span (CS) line is still below kumo. It's just kissing kumo. It needs to cross and close above kumo. That will be the confirmation of kumo breakout in HDFC bank and then one can buy this stock for the target of 497 in short term. Make a stop-loss of 459.80.


Support level is at 448.


Wednesday, January 11, 2012

ICICI Bank Technical Chart | 11-Jan-2012

 



Below is the technical chart of ICICI Bank, listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


 


Although ICICI Bank stock price closed above kijun-sen line and started upward movement, there is tough resistance coming up now.


The price is trading near kumo, which is a huge resistance for ICICI. Also, the Chikou-Span (CS) line will face resistance on kijun-sen line. So, in summary, one can say ICICI resistance area is from 788-828. Avoid the stock between this range. Take your long positions ONLY above this resistance zone. 


Overall, I'm still not convinced about the rally of Nifty in last few trading sessions as Nifty PE is still very expensive. Take your long positions with strict stop-loss.


Thursday, January 5, 2012

Hindustan Copper Ltd. Technical chart | 05-Jan-2012

Below is the technical chart of Hindustan Copper Ltd. (HINDCOPPER), listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


 


Yesterday, the share of Hindustan Copper Ltd., closed above kumo; so is the chikou span (CS) line. So, the chart shows bullish breakout. One can buy this stock with a stop loss of 210 for a target of 279. It's resistance area is from 279-360. So, if the stock coming down from these levels, just book your profits and sit on cash.

Wednesday, January 4, 2012

EURUSD Technical chart | 04-Jan-2012

 Below is the technical chart of EURUSD with Doda-Donchian and Doda-Bollinger Bands indicators.



Although both Doda-Donchian and Doda-Bollinger Bands gave buy signal @1.29716, it's facing tough resistance at 1.3042 and 1.30744. So, once it crossed this level, it will start its bull run. Ofcourse, make a stop loss of 1.29054.


On the upside, first target is 1.3119.

Abovenet Inc (ABVT) Technical chart | NYSE | 04-Jan-2012

 Below is the technical chart of Abovenet Inc., listed on NYSE, using Ichimoku indicator.


 


 


 


 


 


 


 


 


 



The stock price of Abovenet Inc. is moving upward but kijun-line is not supporting this upward movement. This line is flat. So, in the short term, the price will come down to kiss kijun-sen line @59.81. So it's time to book your profits in this stock and look for other opportunity in the market.


 

Steel Authority of India Ltd. (SAIL) Technical Chart | 04-Jan-2012

 Here is a technical chart of Steel Authority of India (SAIL) Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


  


Yesterday, SAIL share closed above kijun-sen line. It's a first signal of buying here. One can buy now with a stop loss of 80.78 for a target of 91. There, it will face tough resistance of Kumo i.e. 91-98.50. So, book your profits at these levels and sit can cash there.


 

SRF Ltd. Technical Chart | 04-Dec-2012

 


Below is the technical chart of SRF Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


  


 


 


The stock price of SRF Ltd. was moving downtrend from some time. But the kijun-sen line was flat. So, now the price started moving upward to kiss kijun-sen line. So, the short term target for this stock is 281.50


 

FTSE 100 Technical chart | 04-Jan-2012

 Below is the technical chart of FTSE 100, using ichimoku Indicator.



FTSE 100 have crossed kumo, so is the Chikou-Span (CS) line. Both are trading above kumo now. Shows the beginning of new bull run here. So, start buying with a stop loss of 5350 and then 5308.

Tuesday, January 3, 2012

Bajaj Auto Ltd. Technical Chart | 03-Dec-2011

 



Below is the technical chart of Bajaj Auto Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.


 


  


I've used weekly time frame to get technical chart as weekly chart clearly shows support and resistance levels as compared to daily chart.


As shown in chart, Bajaj Auto share price managed to take support on / inside kumo several times. This time also it will take support on kumo. Last week, it closed below kijun-sen line; so it's time to book profits on this stock and sit on cash. Support levels are : 1414 and 1365. Below these levels, it will start its downward journey.