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!