NOTICE- My official web is hosted on www.net4.in server. If not updating then make a switch to www.viecapital.blogspot.com for pre market analysis and www.twitter.com/viecapital for intraday update.
Yahoo messeger id - email@example.com
28 November 2014: Stock Chart Analysis for intraday – LICHSCFIN, BHEL and TATASTEEL
Buy above 413/SL 411/ Target 418-420|| Sell below 406/ SL 409/ Target 402-400
Buy above 286/SL 284/Target 292||Sell below 282/ SL 285/ Target 275
Buy above 464/ SL 461/ Target 470||Sell below 458/ SL 461/ Target – 454-450
Read chart → Click √
28 November 2014: Nifty Elliott wave analysis: After a dull expiry, Nifty will get key resistance @ 8536-8550 levels. Technical support = 8456. Consolidating wave continues without any significant weakness.
You must read previous articles and watch the given chart carefully to understand this article completely.
For 28 November 2014: -
On 27 November 2014, FII Bought INR 389.73 crs and DII Bought INR 336.85 crs
Nifty rose just 0.20% even on expiry day. I have already said that it is going to be a dull expiry or extremely wild expiry. It cannot be a mid-way trade. We saw some sharp short covering on those stocks which were rising from past few days, like BHEL. It has already passed 17 trading sessions above 8300 and it has just two trading session which has shown movement more than half percent.
Yesterday’s low was 8456 on Nifty which was higher than day before yesterday’s low of 8430. We got three back to back higher low formations. We are still in a range only. We may not get direction for trading. At least, bears has nothing much to deal in index. From 7723, it has spent 27 trading sessions and out of 27 we have 17 trading sessions which are muted and those are in a row.
For today’s trading session, we will have intraday trading support at 8470 to 8456 levels. As I said past few days that above 8500 it may again challenge the levels of 8536 levels. Now, zone of 8536 to 8550 is critical. Charts are saying for rapid move if it can cross above 8550. It may go as high as 8600.
Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.
Strategy for Nifty December future – It has moved above 8550 in very last minutes of trades. This is showing for a possibility of move towards 8600 which must be many technicians’ key levels. I am hoping for a move which can go near to 8600 levels and then only it can turn decisive. I still feel that traders must focus stocks in these days. Indices may remain dull.
S&P 500 (USA) – This is so dull. We saw another close with small positive. I like to see reaction at 2075. If there is no pullback then it may try to move towards 2100 levels. From 2000 levels to 2073, it took 20 trading sessions so far without any correction. Today will be 21st trading session. It has spent 32 trading sessions from the low of 1820 levels. Take a note that 34 is also a Fibonacci number and 21 is also a Fibonacci number. If it does not correct in 1-2 days then this rally can extend for 21 trading sessions more. Think, it may not correct till year end.