IFCI

IFCI has been trading in a large triangle for past one year and it looks like it is ready to break out from this triangle so if 58 is taken out with good volumes then it could target 85-90 in next couple of months.

Dhan Bank

Dhan Bank today broke out the resistance at 178 with good volumes and is trading at all time high so one could buy it with target of around 200-210.

Nifty

Nifty has made recent up move within upward moving channel so lower trend line could provide support in case of any correction and the lower trend line stands at 5210 for monday and increases by 10 points each day.

Update 2 :Dhan Bank

Target given in this post for dhan bank reached today.

Nifty

Above chart is nifty vs 52 week new highs minus lows and looking at it we could see that since beginning of  2010 nifty has been making new highs but 52 week new highs minus lows are making lower highs which indicate weakning broader market and this point was brought to my notice by sunil  ji of timamo .

Nifty

For last eight trading sessions nifty has been making higher high and higher lows so till this trend continues bulls need not worry as trend remains up.

Nifty : Negative Divergence

Nifty is moving higher and higher with continuous negative divergence ,looks like correction is right at the corner. 

Atul Limited

Atul limited has been trading in a narrow range for last few months and was constantly getting resisted at 96.70 level but today it managed to close above it on decent volumes so one could buy it for target of 108-111 with stop loss of close below 94.

Nifty : Head and shoulder

Nifty hourly chart show formation of inverted head and shoulder pattern with neckline at 5110 and target of 5500+

Update : Rising Wedge in Nifty

After a breakdown from lower trend line price didn't move lower but started moving sideways which indicate pattern failure.

Nifty

There is  bearish crossover in nifty with 20dma below 200dma, the thing to be seen now is whether this crossover sustains or it will be just another whipsaw.

Nifty : Rising Wedge

Nifty has formed a rising wedge on hourly chart, so if 5040 is taken out with volumes nifty could target 4900 and then 4800.

US Market : S&P500

S&P 500 has formed double top at 1103-1105 and it could now target 1035.

Update 1 : Dhan Bank

As posted in this post Dhan bank gave a breakout from trading range of last several months on good volumes so it could now target 180 in short term.

Nifty

Today again i am unable to upload chart..........tomorrow i am expecting a bounce till 5020-5025 levels or even more.

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Update at EOD on 2nd June 2010

Nifty made a high of 5031.