NIFTY 08.04.10

NIFTY MONTHLY CHART :

TRENDLINE : THE ABOVE CHART IS SELF EXPLANATORY WHERE NIFTY HAS FAILED TO CROSS THE TRENDLINE .

APRIL 2010 : NIFTY HAD TOUCHED THE TRENDLINE BUT HAS COME DOWN FROM THERE, BUT AS THIS IS ONLY START OF THE MONTH WE WILL WAIT AND SEE IF THE TREDLINE IS BROKEN OR NOT BY END OF THE MONTH

VOLUMES: IN JUNE 2009 WE HAD SEEN THE HIGHEST VOLUME EVER , BUT AFTER THAT THERE HAS BEEN CONSTANT DECLINE IN VOLUMES IN EVERY MONTH

ALLAHABAD BANK UPDATE

ALLAHABAD BANK HAS CLOSED AT 167.70 UP BY Rs 15 ( 10% RETURN) IN TWO DAYS !!!!!!!!!!!

http://ritesh-researchreports.blogspot.com/2010/04/allahabad-bank-050410.html

NIFTY 07.04.10

NIFTY DAILY CHART :

NIFTY IS FINDING IT DIFFICULT TO CROSS THE TRENDLINE WHICH IS DRAWN FROM OCT 2009 LOW TO PRESENT DAY , WHERE IT TOUCHED THE TRENDLINE THRICE(ARROW) BUT WAS NOT ABLE TO CROSS THE TRENDLINE

"DOJI": NIFTY HAS MADE DOJI CANDEL STICK PATTERN YESTERDAY WHICH IS GENERALLY CONSIDERED A TREND REVERSAL PATTERN

TARGET ACHIEVED: AS I HAD MENTIONED IN MY EARLIER POST NIFTY HAS ACHIEVED MY TARGET OF 5400 ( 5399.65)

NEXT RESISTANCE LIES AT 5425 ,5450

ALLAHABAD BANK 05.04.10

ALLAHABAD BANK DAILY CHART :

ALLAHABAD BANK HAS GIVEN BREAK OUT WITH GOOD VOLUMES (BLUE LINE) AND MADE FRESH 52 WEEK HIGH (SMILEY) AND CLOSED AT 152.85.

NIFTY 05.04.10 (C)

NIFTY DAILY CHART :

CHANNEL: ONCE 5400 IS TAKEN OUT FOR NIFTY, IT MIGHT FACE RESISTANCE AT 5425 - 5435 WHICH IS THE UPPER TREND LINE OF THE CHANNEL

NIFTY 05.04.10 (B)

"52 WEEK HIGH": NIFTY MADE FRESH HIGH TODAY THOUGH THE VOLUMES WERE LOW TODAY .

NIFTY DID BREAK CRUCIAL RESISTANCE OF 5350 AND IS HEADING TOWARDS 5400 WHICH I HAVE MENTIONED IN MY PREVIOUS POST.

NIFTY 05.04.10 (A)

NIFTY DAILY CHART :

BREAKOUT: NIFTY HAS BROKEN THE TREND LINE WHERE IT WAS FACING RESISTANCE AND CLOSED AT 5368

NIFTY 01.04.10

NIFTY WEEKLY CHART :

TARGET 5400 ? : TRENDLINE (IN PINK) HAS RESISTANCE AT 5400 WHICH IS INCIDENTLY WHERE THE SECOND TRENDLINE( IN BLUE ) IS CONVERGING WITH THE PINK TRENDLINE ,