AstraZeneca - a Pill for profits

AstraZeneca has broken out from the horizontal channel, BULLS ARE IN CONTROL. The horizontal breakout has a target of 1950 on the upper side. 

The volumes have grown substantially in the last 2 days of trading pointing to the fact that people are expecting prices to rise further. 

Other technical indicators are also confirming the bullish move in Astra

Parabolic SAR has crossed below the price which again denotes buy side moves

MACD signal line has crossed the MACD line which recommends us to take buy side postions 

ADX is also rising and DI+ has crossed DI- which indicates the uptrend

Plan of action- Buy around 1760-70 with a stoploss of 1725
TARGET -1850 , TARGET2-1950 

Deepika Solanki, Technical Analyst
Team TopdataIndia

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Tata Power - Lights on or Lights off

On the weekly charts of tata power, we can see the formation of symmetrical triangle.

A symmetrical triangle is generally regarded as a period of consolidation before the price moves beyond one of the identified trend lines. A break below the lower trend line is used by technical traders to signal a move lower, while a break above the upper trend line signals the beginning of a move upward. 

The formation is in place but the breakout is yet to happen so we will advise you to take a position only on the confirmed breakout of these trend lines and as a confirmation sharp increase in volume at the time of breakout will strengthen our report


PLAN OF ACTION : 
BUY Tata Power above 102SELL Tata Power below 91Targets and stoploss will be given later once the breakout is confirmedPlease follow this blog as we will revise the breakout levels if time passes by

Heeta Luthra, Technical Analyst

Team TopdataIndia

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ZEE - Bears are coming to learn

A clear negative divergence in the price and RSI is visible on the charts. The prices of ZEE are moving up while the RSI is making lower tops, technically the upside in ZEE will loose momentum and retrace to previous supports.
Together with divergence today the candles patterns have given a clear verdict for fall. After a small doji like formation, ZEE fell breached the lows of the last 2 trading sesions. A volume analysis on the last 3 days show that on 16th Aug 12 trading ZEE recorded the highest volumes in comparison to the last few days of trading. This adds more weight to our bearish view on ZEE for the next couple of weeks.

ACTION - Sell on rise with a SL of 175.5. Target 161   

Heeta Luthra, Technical Analyst
Team TopdataIndia

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Dark Clouds Hovering on Bajaj Finserv

The meteoric rise from 750 to 950 in just a week seems to be coming to an end. A Dark Could pattern can be seen on the charts which in conjunction with a highly over bought RSI level will drag the prices of Bajaj Finserv down in the coming days. A short term support exists at 855 levels which is the most likely target of this fall. And an extreme target of 765 also cannot be ruled out. Short term traders with a perspective of 2-3 weeks should look to sell on rise with a SL of 955 and long term traders should exit and stay in cash and wait for the retracement to complete


Action : Short below 910 for a target of 855 with a SL of 955
  
DURATION : 2-3 weeks

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Deepika Solanki, Technical Analyst
Team TopdataIndia

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ACC - Rainy Days Ahead

ACC seems to loosing steam and yesterday it gave the first reversal signals at the top range. There is an evening star candle formation which is supported by a good rise and RSI levels above 70.

There is another interesting development happening on the charts of ACC, the trading from 1100 levels from June 12 is in the form of a rising wedge. A rising wedge is a bearish formation and will trigger a fall. This formation is confirmed if acc trades below 1320 in the next week 

Action : Short below 1335 for a target of 1275. Build your short positions again if ACC trades below 1320
  
DURATION : 2-3 weeks


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Deepika Solanki, Technical Analyst
Team TopdataIndia

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Swing Sell - M&M Finance

The doji formation with 2 small days are at the top are indicating trend reversal after a  bullish rally. If M&M Fin breaches below 773 the lower level of shooting star we can take a short trade.
The RSI at these levels is stretched and in the over bought zone. Bollinger Bands too have opened wide with prices trading outside the band. Both these indicators suggest a sideways to bearish movements in the next couple of days.


ACTION : SELL M&M Fin CMP 780 TGT1 715 SL 805

DURATION : 1-2 weeks

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Deepika Solanki, Technical Analyst
Team TopdataIndia

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Swing Buy - BankIndia

Bank Of India as on 14th August 2012

Undoubtedly the trend of Bank of India is down,but at this point we have started getting signals of the trend reversal. After a spinning top doji at the bottom, Today we have traded above the high of the spinning top doji and closed above it too. 

A spinning top doji can occur at the tops and bottoms also and This candlestick formation suggests indecision and wreaking on the prevailing trend

RSI is in the highly oversold zone and in the last 2 trading sessions has bounced back from its recent lows again adding confidence to the idea of the prices of Bank Of India moving towards 300.

ACTION : BUY BOI CMP 275 TGT1 285 TGT2 302,SL 271

DURATION : 3-4 days

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Heeta Luthra, Technical Analyst

Team TopdataIndia

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Crude - Below 5400 will be in bear control

Technical Views - Commodities 6th Jan 2012 

MCX GOLD1
TREND : Gold remained in the range of 27500 - 27850. Thus we follow the same strategy today also.
There is an interesting pattern which is visible and confirmed chart of Gold1. This pattern suggests a target of 28400-500 in the next couple of days.
For today's trading, we will stick to the strategy of trading the buy signals in full quantities and 50% size for sell signals.
Support and Resistance - 27500 / 27850
SIGNAL : Use buy and sell signals of TDI BS

MCX SILVER1
TREND : Silver on the other hand went below its support of 52250, but finally closed above. Unless 52200 is breached with confidence we do not see any big downside. For today we will look to go long on the buy signals and short small quantities on sell signals 
Support and Resistance - 52000 - 53500
SIGNAL : Use buy and sell signals of TDI BS

Crude Oil 60min Chart 4th Jan 2012

MCX Crude1
TREND : We see a divergence on the charts and yesterday's high is the 4th top on the same trend line. With our experience we feel Crude is being over stretched in its rise and there is a pending deep correction. The position sell trade was initiated yesterday below 5410. But we closed the same as Crude could not sustain at the lower range. We will today again short crude below 5410 for a positional move
For today's trading, very small quantities on buy signals and double quantities on sell signals   
Support and Resistance - 5410 / 5475
SIGNAL : Double positions on sell signals and very small positions on buy signals

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Crude - A major move in the making

Technical Views - Commodities 4th Jan 2012 

MCX GOLD1
TREND : For today, though both sides trades can be taken, but Buy signals will be more profitable.
Support and Resistance - 27000 / 27850
SIGNAL : Use buy and sell signals of TDI BS

MCX SILVER1
TREND : 54220 is the next resistance for Silver, till then we can trade the buy signals
Support and Resistance - 51980 - 53500
SIGNAL : Use buy and sell signals of TDI BS

MCX Crude1
TREND : Now the rise is suspicious and we will take only small positions on the buy signals and double positions on the sell signals with a provision to add more to sell position as it goes in our favor.   
Support and Resistance - 5385 / 5465
SIGNAL : Double positions on sell signals and small positions on buy signals

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Happy New Year.... we are back

Technical Views - Commodities 2nd Jan 2012

   

MCX GOLD1
TREND : 27500 will remain to act as a resistance and we expect to take sell signals in this zone. Buy positions will be initiated only if gold trades above 27500

Support and Resistance - 27000 / 27500
SIGNAL : Trade the sells only if 27500 is not breached. Else play both sides

MCX SILVER1
TREND : Silver seems to be the weaker in comparison to Gold, 

Support and Resistance - 50900 - 52500

SIGNAL : Use the Buy signals only if Silver trades above 52500. Else trade sell signals only

MCX Crude1
TREND : Trading in a 100 point range of 5250 - 5350 for the last 3 days. It is expected to breakout soon, There is also a clear divergence on the daily charts, which will add to the pressure in the fall. We suggest double quantity sell if 5250 is taken out.     
Support and Resistance - 5250 / 5350
SIGNAL : Trade the breakout only

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