JSW steel
jsw steel after sustain above 690 for few hrs closed at 679 ie below yesterday closing price.
price can reach 645 in near term.


M&M
Triple bottom is formed in the price pattern and there is possibilites to break that.
if it broke tomorrow then the price can reach 690-85.
Overall negative view on this stock.

Hindalco
Stock closed today at 117.
look like in a bearish mode yet.... upper trend will be confirmed only if close again above 119.

KRBL
Closed at 20.. 1% down.
Likely to break the support of 19.50... if thats done then can go till 17.50.

JP Associate
Continued to be in a bearish mode.
positive only if closes above 73... otherwise will continue the downward trend.

Castrol india
Castrol was down for few days after touching 550.
Positive movement can be seen if it sustain above 490 in coming days with volume.

Nfity Analysis

5200 is crucial level for nifty on a weekly basis...
if it close below 5200 then there are chance of breaking 5170 which have been crucial.
for the past two days nifty is sustaining the level of 5180-5220.
Still positive on nifty for short term.

Techincal analysis of stock

JSw steel
JSW steel failed to sustain the upward movement and closed at 689.50.
if stock closed above 690 tomorrow then positive movement can be seen.
Failing that stock can touch the price of 642.

KRBL
krbl made a low of 19.80 and i was expecting the fall in the price to fill the gap to confirm the upward and to sustain the upward movement.
Positive movement can be seen if it sustain abovve 19.50.

Sterlite
Price closed at 107.80 whit 1.90% up.
upwards movement can be seen in coming days if the week.

Hindalco
Opening was positive but the volume didnt supported by the price
118 will be support and tomorrow movement will decide the further movement.

M&M
Price will be seen now tomorrow.
support can be seen at 692.
breaking of 692 will confirm the more down trend in the stock.

JP assciates
price made a low of  72.2
Good volume was seen in the stock in second half of the session.
will be expecting upside tomorrow with a stoploss of 72.2

Nifty today opened on a positive note today and was sustaining above 5200.
Downgrade of India future outlook pull the rally downside in first half...
However market gained confidence and recovered and close at 5202.. 20points down
Positive movement can be seen tomorrow with resistance at 5240-5260.

Technical Analysis of stocks

JSW steel
Today made a low of 693 and sustained that level for past  1 1/2 hr.
Volume changed was good in 1 hr to bring a support around 693-94.
MACD and ROC are giving a signal of change in trend.
Upside can be seen tomorrow.

KRBL
Gap up opening was seen today in stock
Volume was around 5 times as compared to previous trading day.
The gap of previous closing and opening should be filled to have sustianable growth.
trading below 20.50 can give a signal of completing the gap.

Sterlite
Price failed to closed above 110.. and it slide with nifty the day before yesterday.
The volume was less when the price closed 5 rs down... so bounce back can be seen again.
Daily chart is yet positive.

Hindalco
If the price sustained above the closing price with good volume in morning then a positive
movement can be seen.
otherwise the price yet will be bearish zone.

JP associate
Price will be range bound with overall negative side of movement.

Nifty analysis

Nifty today closed .42% up.
Bounce back was seen from level of 5180.
MACD have turned to positive and upside movement can be seen.
ROC give a signal of both positive and negative.
Overall xpecting positive movement with resistance around 5240-60!!!

Technical Analysis of stocks

JSW steel
JSW steel today broke the support of 750 with good volumes and then d fall continued till 710.
Low of 705 was seen. Price has closed below the 8 and 55 days EMA which have turned the short and medium term to bearish.
support can be seen at 680-660!!!
ROC and MACD is crossing the signal downside confirming the trend towards bearish.
trend has changed negative for the week!!!

KRBL
Stock today took support at 19.55.
selling pressure was seen again today with no movement of buying at lower level....!


JP associate
was xpecting a breakout of the neckline where the head and shoulder was taking a suopport.
Will be expecting a downtrend forward with a price around 60-65!!!!

Hindalco
Breakout of support around 122-23 with good volume has trend the trend down if price take a support at a low of 110 with volume then a bounce back can be seen otherwise down trend can be continued!!


M&M
Short term trend has been changed to negative will be expecting the levels of 700 and around in this week.

Nifty

1) Nifty today fall 1.70% due to depreciation of Indian rupee and negative data from Europe which have raised a question about global growth and fear have been raised.
2) Nifty faced a resistance at 5330-40 and failed to break the upper level.
3) MACD chart is showing a negative movement and ROC is taking a support -2.00 level.
4) Nifty can sustain at level of 5150-70 from where it can bounce back.

technical analysis of stocks

M&M
Good move can be seen abv 730 and then can touch 750. thereafter a correction can be seen.

Sterlite
stock is failing to close above 110 which is resistance.
Good volume will be required to go above 110 and to close abv that level, if its done then
price of 120-23 can be seen this week

KRBL
selling pressure was seen in the stock. 19.50 seems to be crucial support.

Hindalco
price is taking support at 121-22 price level for the psat 3 weeks. Positive movement can be seen.
profit loss ratio is very low. loss of 2-3 rs and profit can be 5-10 rs.

JP associate
Head and shoulder pattern is formed on daily chart.closing below 76 on daily can take the stocl price to
65-68. Negative movement can be seen,

Elliott Wave analysis of JSW steel

After making a final project on Elliott Wave Analysis i was trying it on a stock and found a pattern being formed on  JSW steel.
1)  corrective wave is formed A-B-C where wave A is divided into five waves and wave B into 3 and wave C is divided into 5 waves again and sub wave 3 is an extended wave divided into 5 sub wave again.
2) So a downtrend seems to be over in this stock and wave 1 of the motive wave is started and wave 2 as well have been seen. The new positive movement can be a start of wave 3.
3) Other alternative counts is as a wave 2 is not yet ended and one can c a downtrend again.
4) If the stock  price goes above the price of wave 1 then it can be confirmed that the wave three has been started.
5) Closing above 760-770 on weekly basis can show some positive movement.

Technical view on stocks

JSW Steel
Low volume today
MACD showing a downside movement expecting a fall in price tomorrow.
Can take support at 750!!!

M&M
Was xpecting a fall today but stock closed positive!!

Due to connection problem in ma ODIN software m not able to update about reaming stocks!!!

Nifty today opened on a positive note and rebound back form yesterday low!!!
Market took support at positive/uptrend trend line
MACD is showing a mix signal... stating unpredicted movement.
Nifty failed to break yesterday high... and was in a range of 5290-5340!!
Positive opening cant be seen tomorrow as US job and Housing data where negative, impact can be seen on india market due to negative US and EURO market as well!!!
Expecting to be in a range bound for tomorrow!!!!!

JSW steel opened at a positive note but followed the foot steps of nifty there after. Made a high of 771 and close at 757 just 1% up. Fall in the price can be seen till 750 where its taking support in the past 2 days...! Still positive on JSW steel.

M&M which was positive for the day made a high of 695 and closed at 692.35. the stock was up and the trade whole day around 690-695!!! In RSI short period have crossed long period Avg line indicating change in trend!!! Breaking of 690 with volume will confirm the down trend and can take the price till 680-670!!!

IFCI made a high og 43.05 and failed to cross 43.50... stock went down and closed negative at 41.75!!! one can enter at 41.50 with price sustains!!

KRBL today closed positive with 2.5% up!!! RSI and MACD are showing negative signals but good volume can prove them wrong!!! closing above 21 can show a signal of upside movement!!!

Sterlite today failed to sustain above medium term stock is yet positive but tomorrow it can close down taking support at 108!!!

Nifty analysis for 19 april

Nifty today opened with a good gap from previous closing but failed to sustained after Inflation data of march which have increased and negative opening of Euro Market and started falling down closing 10 pts up.
Nifty closed at 5300 after making a high of 5350.
MACD for the hourly chart have turned negative and RSI is changing the direction from down to upside.
Nifty is xpected to open negative and can sustain a level of 5270-50 levels.
The gap of opening which was seen today covered so if market sustain then good positive movement can be seen in mid term.

Views on stocks!!

JSW steel turned negative today but sustained to close above 750 as told yesterday the good support!!! Still seems to be positive!!

M&M went down today and again took support at 8 days EMA, as it did yesterday and showing a sign of short term positive movement!! Divergence is seen in MACD and RSI with good volume in last two hours, can expect positive movement tomorrow till 690-700!!!

IFCI today was volatile where good volume was seen bull candle(hourly candle) and dogi is formed!! once above 43.50... with volume upper side trend can be achived!!!

KRBL will move up once it crosses 20.50 with good volumes!! MACD has crosses the line from down to up... give a signal of up side!!!

Sterlite showed a good volume above 107!!! positive movement can be seen!!!

The writer wont be responsible for any profit or loss if traded following my blog!!! this is just for educational purpose!!

Nifty hourly chart!!

Hourly chart showed a divergence on 16 april where Indicator MACD made a higher low and Nifty made lower low.
The cut in the Repo and reverse repo boosted the market sentiments.
However market was volatile today even after repo rate news and close above the high of the day and above the resistance of trendline as well!!!
Market can continue the upper side movement with a resistance at 5320-380 and 5440!!!

JSW steel after sustaining the level of 750 closed at 752. The volume was not good as compared to day before trading day! Expecting a continued rally of uptrend in the stock. TGT 780-810!!!

M&M which closed at 687 today... broke the supportive trendline. The volume was too low so wont be expecting bounce back!! tgt 650-630!! SL 700!!!

IFCI is trading around the level of 8 days EMA and above 55 days EMA....! RSI is now in oversold zone where Short period have crossed the long period!! expecting positive movement till 49 and SL 39.

KRBL look positive yet!!!

Sterlite if crosses the price of 107 with good volume...! tgted price can be achived!!!

Expected movements Technically!

KRBL Look Positive if it close abv 20.60 on daily basis. Can come down till 19.25 due to gap up opening. SL 19.25! TGT 23!!

Sterlite looks positive abv 110 and can touch 116 and 124!!! SL 102!!

JSW steel looks positive. Breakout of resistance trendline with good volume. CMP 739. TGT 780-810. SL 710!

Nifty Weekly chart.

The chart above is the weekly chart if Nifty where we havnt seen ny positive movement in the past two weeks and market have closed at the same level of around 5200. Support is found at the level of 5200 where 21 EMA lies...! Looking at the MACD indicator the short period average have crossed the long period which indicates the negative movements aheads ROC is as well showing negative movements But ROC in showing the possibility of positive movement at as 8 days avg is above the 13 days avg. Overall if Nifty sustain the level of 5200 and stay above the 21 days positive movement can be seen. Failing to that 5080 and 4950 can be seen in medium term. This post is just for education purpose!