Bulls Bulls where art thou?

Macro factors at play.....

After making an all time high of 8180, Nifty has been on negative rally. It has broken the upward sloping channel pattern. It is said correction in market are good for a long term bull rally. Considering the outcome of the upcoming election results (in Maharashtra and Chennai) it is advisable to stay cautious till market shows a specific direction. MACD has not showed any trend reversal pattern, RSI has been in 30% range. Changes in the macro economic factors like inflation and earnings growth will also play an important role in setting a new direction for the market w.r.t Short – Medium term movement. Even though Medium to Long term trend is positive, but at current level one can look at sector specific stocks and should have a cautious approach towards market. Disclaimer: - The views expressed in this article/blog are completely personal. This blog or article should not be considered as an investment advice or recommendation to invest. This article/blog is solely...

Aventis Pharma

In past few trading sessions there was a spike in price of share but this was not supported by volume. Indicators like MACD and RSI have turned negative and hence one can start booking profits in the same. S1 1953 S2 1920 R1 1981.5 R2 2017.5 Today’s closing price is 194, it has already broken the crucial support point of 1953, next level to look at is 1920 - 1906. Recommendation:- Book Profits (Sell)

HDFC Bank - Buy - For Short Term

A strong upward trend is been noticed/seen in HDFC Bank. One can consider buying the same for a Short Tenure. R1 - 689 R2 - 706 R3 - 724 S1 - 673 S2 - 650

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