01 December 2015: Stock Chart Analysis for intraday: RELIANCE, INFY and KOTAKBANK

RELIANCE (965.85)
Buy above 972/ SL 965/ Target 985||Sell below 959/ SL 965/ Target 948-940
INFY (1087.90)
Buy above 1100/SL 1094/ Target 1124|| Sell below 1079/ SL 1086/ Target 1065
KOTAKBANK (692.35)
Buy above 696/SL 690/Target 710||Sell below 684/SL 690/Target 675-670

01 December 2015: Nifty Elliott wave analysis: I am still bullish for post policy hours with Nifty target at 8000 as minimum.

You must read previous articles and watch the given chart carefully to understand this article completely.

For 01 December 2015: -

niftyOn 27 November 2015: FII Net Sold – INR 519.25:  DII Net Bought – INR – 900.48

We saw a dull close before RBI’s monetary policy. This makes some sense near 7940 resistance mark. I still give edge to bulls only. Technically, the day can be volatile but lastly it should go in favour of bulls only. If this happens then we may get closing near or above 8000 marks.

For today’s trading session, I am expecting market to open on silent to positive note. As long as it is standing above 7920-7900 we can hope for rise. My first probable target is 8000 on Nifty. It may come today or tomorrow. This market is buy-in-dip for trading. Do not trade if one do not want to deal volatility. One can expect actions in post policy hours only.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty December future – Nifty Future may open around 8000 levels and immediate target cum resistance will emerge at 8030. Above 8030, we have practical target at 8100 levels only. We can expect down side support at 7930-7900 levels.

S&P 500 (USA) – Some range bound session may cause this kind of moderate fall but largely market  is maintaining levels close to 2100 only. I repeat that as long as S&P remains above 2070-2060, it may not fall so easily. On other hand I never try to be bullish at 2100 levels. Let us see what the desired decisive moves will come. One should wait till then.