Nifty

Just a quick word as i am not able to upload charts because of connectivity issues. In my opinion lows of 4787.45 made by nifty on 25th may wont get broken for at least couple of weeks now.

US Market : DOW

Hourly chart of dow is showing positive divergence so there is possibility of short term bottom being made.

Update : Nifty Weekly Chart

Today Nifty tested the lower trend line of upward moving channel as stated in this post.

Nifty : Positive Divergence

There is positive divergence on all three indicators , so we could see a bounce tomorrow.

Reliance

Reliance has been trading in an ascending triangle for almost an year and is now near its lower trend line , reliance being big daddy of Indian stock market could give further direction to market with its movement.

Nifty : Below 200 DMA

Today Nifty closed below 200 dma after a long time .

Nifty Weekly Chart

Looking at global markets at present it looks most likely that nifty would test lower trendline of the channel which for this week stands at 4800.

Update : Geodesic Limited

Pattern failed in geodesic limited so one should exit the stock.

Nifty : Bullish flag

Bullish flag has formed on nifty hourly chart which could take nifty to 5300-5325 so one could go long in nifty but if nifty starts moving sideways or enter again in flag area then one should exit longs taken based on this pattern.

Torrent Power

Torrent Power has been stuck in a range for almost six months and is now on upper end of range so if it manages to give a close above 335 then it could be bought for a target of 355 >> 380 or more.

World Market : CAC

French CAC 40 Index confirmed double top at 4088 by closing below 3564, it could now target 3050

Update : Descending Triangle in Nifty

Target reached given in this post.

Geodesic Limited

Geodesic Limited gave a breakout from falling wedge on good volumes , so it could now target 147.

Nifty : Descending Triangle

Nifty has formed descending triangle, so if 5200 is broken with good volumes nifty could target 5000.

Update 2 : TVS Motors

After taking out strong resistance at 78-79 as said in this post ,tvs motors reached its first target of 93.