#GLENPHARMA Update on the 31st July.

Recently this stock has been exhibiting strength when the Pharma Index NIFTY PHARMA exhibited heightened weakness losing nearly 800 points. However in the last two sessions this stock too joined the other Pharma stocks showing weakness. The pharma sector was pulled down by poor Q1 results of some leading stocks. However the Q1 performance of Glenpharma itself was much better than expectations. The stock is still above the support level 691. The volume has also dropped today though still high.  The Up Trend is still valid and will be till 683 is broken. It will be interesting to see if the recovery will come soon.

#GSPL Interestingly Poised

This stock is interestingly poised. The stock has been moving up on increased volume. It is just below the previous price rejection level of 193. A break of this level will move the stock into new higher territory. A close above 199 will make it a stronger bet. This one will be on my watch list. 

#GLENMARK Update on my post of 25th.

The stock clearly crossed the suggested entry level of above 710 and that too on high volume.  There is always a possibility of test of the 710 level. The chance of this is remote considering the high volume of today.

#NIFTY View on the 27th July.

Today we saw a copy book “Up Thrust” Bar on high volume.  Being a expiry day today’s move can be viewed with a pinch of salt. However the weakness highlighted still exists albeit a little watered down. Tomorrow’s move is very critical as that will confirm or negate the weakness.  If the weakness is confirmed then we can see 9890 level tested. The dices are loaded towards a retracement. The overall Up Trend remains intact and a retracement would be only healthy for the Market.

#GLENMARK Update on 25th.

The stock has moved up since my last post on the 7^th.  (https://mararmusing.blogspot.com/2017/07/glenmark-seeking-higher-levels-after.html). Looks like now is chance for re-entry. Safe entry would be above 710. The aggressive entry would be now.  Uptrend safe till 683.

#AXISBANK Trying to move up after months of consolidation

#COALINDIA #LearningwithMarar #VSA

The stock has been in a down trend since March. Now it does look like the down side has been capped and a smart money campaign is in the offing.  

During June we saw the down trend taper off with indications of lack of Supply. Then we saw a classical successful Test. This was soon followed by a Rally. However the Rally was on low volume and that did not give us the confidence. The following retracement ended with high volume up bar indicating strength.  A “Effort to move up bar” followed starting another rally on increased volume. This is a clear indication that the smart money did have some prior information on the positive news which would follow and they are ready to start a campaign. Today we saw a very high volume widespread up Bar which is obviously driven by the positive news. Clearly looks like the smart money campaign would continue and this provides a good opportunity. A conservative SL would be 250 and last price support level would be 243.

#NIFTY Weekend View.

Early part of the week we saw some dominance by supply and we expected some retracement. This did not happen and instead we saw the index surge further ahead. However the volume remained low as the supply took a back seat.  The last upthrust was on much lower volume.  The lower volume produced a much higher price change. In other word higher result on much lower effort.  A retracement is overdue and the conditions for the same still exist albeit not very apparent. A retracement would be good for a healthy up move. A retracement is very much on the cards. That would be good for a healthy up move and would provide more opportunities.

#NIFTY View on the 11th July.

 As expected the index made more upward moves. However today we saw supply dominating the demand and the index ended a little lower near the low. The dominance of supply though not overwhelming indicates that we could see a retracement before seeking higher levels.  Support level down below would be 9665 and 9690.

#NIFTY View on the 10th July.

In yesterday’s weekend view we saw that the bias was on the positive side.  Today we saw a definite move to break the supply zone around 9665. The index has now moved into next higher zone and the upside move should continue. I am not going into more detailed analysis as the volume data is suspect. The volume data is very low and it is not clear if this is actual correct or error data. The technical glitch has thrown up lot of bad data for so many stocks. Waiting to see if NSE will provide an updated data for the day. Otherwise some intelligent manual correction may be required so that our analysis does not get distorted. 

#GLENMARK Seeking higher levels after short consolidation,,

#NIFTY Weekend view on the 9th of July.

 When we reviewed the index last week we expected some sideways move. We also saw that 9665 will be the obstacle on the upper side. This week we saw the index move up on low volume. And as expected supply started to overwhelm above this crucial level. 9665 was the previous price rejection level and we can see still supply is coming above this level and at the same time we see support coming below this level. Now the index is poised at this crucial level.  Failure to cross this level with good volume will send index down towards support level of 9490.  Hence next couple of sessions will be very crucial.  The low volume in the last two sessions when the index faced the supply area does provide a positive bias.

A study in Volume and Price waves