#NIFTY View on the 26th of September.

 Yesterday we saw that there was some buying seen and we expected the index to bottom out soon. Today we saw some selling early in the session. Soon buying interest dominated and we saw the index recover and close near the open. The index again closed above the previous support level of 9860. Technically today’s Bar is a successful test for supply. We need to see tomorrows move for confirmation of the “Successful Test”.  Anyway the market seems to have bottomed out. We could see some sideways move in the coming days before seeing any upside as the retracement of the overall up move from 9700 has been quite deep and more than 50%.  Some consolidation around these levels is only natural.

#NIFTY Weekend view on the 23rd September.

 Last week end we saw that the index was struggling to move up and the effort to result ratio was not encouraging. As a result we expected the index to range or retrace. On the first day the index attempted to take out the previous price rejection level of 10137 and closed at 10153. However this level could not be sustained and the index started slipping in the next two days. However on Thursday we saw supply taking control. But the buyers did not give up easily and the index ended much above the low of 10058. But on Friday the buying interest was lacking as selling took full control and we saw a widespread “Effort to move down” bar closing near the low. Clearly the bad effort to result ratio was the cause and we saw the Effect which was the retracement.   The volume off the big down move of Friday was not very high. The above average volume indicates that further downside is limited. Support could be coming around 9910 or 9860 below. On the upper side 10137 remains sacrosanct as of now J.

#COALINDIA Will the breakout sustain this time?

 The sustained Buying Interest seems to favor a successful breakout.

#NIFTY View on the 15th September.

 We saw the Index making some healthy up moves from the low of August. However this month we saw the Index ranging on low volume. Then there was a clear attempt to move the index on increased volume which however failed to produce the desired result. We saw a poor effort to Result ratio. The Index is struggling around the previous price rejection level of 10075. There is a good probability that we will see some more ranging if not a retracement at the current levels. The Index need to cross 10140 convincingly to see more up side. 

#CIPLA Not looking very positive

This stock  has been moving in a range for the last three months. The range seems to be more dominated by more selling than buying. It seems to signal distribution rather than accumulation. Volume is not coming in like the other Pharma stocks. Also the stock has not shown any tendency for breakout like it’s peers.

#SUNPHARMA

This stock has broken out of consolidation on High volume on the 13^th. The next day’s gapup UP bar on high volume sort of confirms the breakout. The odds favor much higher side. If entering at these levels an ideal SL would be 500 with some room for a shakeout 

#VSA #WYCKOFF #Learningwthmarar #WOCKPHARMA Some learning on the Wyckoffian Analysis with Wockhard Pharma Chart..

#VSA #WYCKOFF #Learningwthmarar #WOCKPHARMA Some learning on the Wyckoffian Analysis with Wockhard Pharma Chart..

#NIFTYPHARMA #PHARMASTOCKS

After substantial losses the Pharma stocks have started making a quite recovery as evident in the Pharma Index. After the big fall we saw two quick buy waves (Short covering) and some accumulation. Last week we saw some real demand coming in these stock.  Sun Pharma has broken out of consolidation. In stocks like Divis Lab and IPCA we saw some flare up. Biocon , Cipla and Glenpharma have not really broken out yet and should be on the watch list.  Sun Pharma looks set to move higher and it is worth to look for entry opportunities. Shall post chart of the Individual stocks separately.