Axis Cades-Rs.187/-, the stock seems to be headed for good upside movement. The stock has made an all time high and also the rise all through has been on a heavy volumes as indicated in the chart which is a clear indications that the informed investors are accumulating stock and once this is over we might see the stock making new highs. Fundamentally also the company is performing very well its EPS has increased from 1.70 in 2009 to 8 in 2014 a continues rise. It has been generating positive cash from operating activity. All this is pointing that the up move is on the basis of fundamental improvement and it seems it has just started up move and upsides are possible. Stop Loss:Rs.140/-

May All be Peaceful and Happy
Mahiidar M
Enjoying Life
Trend is Friend

Indraprastha Medical- Rs.71/- the stock has made an all time high on close above 60 which is a  bullish sign. it has failed to pass above this level for last four attempts in nearly 14 years and this time it has gone past it on heavy volumes which is a sign of bullishness in the stock. The financials are not so encouraging but its consistently giving profitability and also average dividend paying is around 40%. It is paying dividend consistently for last 10 years is a sign of financial strength of the company so it appears to be in a bullish territory and further upsides are not ruled out. Stop Loss:Rs.55

May All be Peaceful and Happy

Mahiidar M

Enjoying Life

Trend is friend.

Sintex-Ltd-Rs.113/- The stock has been consolidating for last six months and has just give a break out above 100/-. One of the noticing features of the consolidation is that the stock has consolidated took support at the 200 month EMA and then started to move up. notice the volumes also which are very high during the movement from 200 month ave which is a sign of bullishness. So the stock is pointing towards healthy upward movements from current levels.Will the stock move above 2010 high of Rs.239 only time would tell the same. Stop Loss:Rs.95.

May All be Happy and Peaceful
Mahiidar M
Enjoying Life
Trend is Friend.

EURUSD-1.20/-. This also seems to have formed a triangle from 2006 onwards and it took nearly 8 years(a fibonacci) and seems to have just broke below the B-D trend line indicating we might have started the down move. also note the EURUSD has moved below the 200 month EMA in Dec 2014 first time after june 2002. Such a long period indicates that EURO is going to depreciate against USD. As its a triangle formation over 8 years the target should be generally the length of the longest wave which 0.44 so we should have a target of below 1.00 easily incoming months if EURO fails to move past the 200 week EMA. Strength of DXY in clearly showing off in EURO and it seems that we are in for a big fall will it happen now lets wait and see.

May All be Peaceful and Happy
Mahiidar M
Enjoying Life
Trend is Friend.

DXY-91.28, the USD index seems to have entered into a bull run after more than 30 years of consolidation which gives an indication that USD is in for a good bull run against all international currencies.As can be seen from the chart USD has formed a a sloping triangle with clearly defined waves A to E waves and it seems this year it has broken above the BD line indicating the completion of the triangle and healthy up move has started and it might run for years to come. Now generally comes the question as to what would be the extent of rise. The break out would be generally equal to the length of the longest wave of the triangle. The longest wave is of length 80 from 1978 to 1985 so now it should be of that length from the end of the E wave which happens to be around 78 so this gives a target of above 150( unbelievable). So we have to see whether we achieve the target or not but we are sure to move past the high of D wave which happens to be around 120 levels. So slowly and steadily USD might market ahead till 80 is taken out. So all world currencies seems to be in a great danger against USD.

May all be Peaceful and Happy

Mahiidar M

Enjoying Life

Trend is Friend.

Weekly technical Analysis for week ended 2^nd January 2015

New Year, seems to have bough cheers to market and in the first two days it has been bulls all the way with banking stocks leading the way. Nifty opened at 8240 made a high of 8410 and finally closed at 8395. As the market closed at the high range of the market we can surely say that bulls are ruling the market at-least for the short term. On Friday nifty once again moved above the 20 day EMA successfully and without any hitch which is clearly indicating that it did not offer any resistance. Considering this now 20 day EMA becomes the support level for the market. Nifty has taken support exactly at the 100 day EMA indicating that the 100 EMA is offering good amount of support also. Going forward also it seems that the 100 day EMA should be pivotal point around which the trend of the market is determined. The movement of the market on Friday is clearly indicating that in the coming week the market has all the chances of moving up till it stays above the 20 day EMA. One point to be noted is that generally January is not good month for the market, but till the price indicates, but till the price is moving up we can comfortably be with the bulls.

Elliott Wave Analysis:

 As far as Elliott wave is concerned there is not much change in the structure and it seems that market is following exactly as indicated by me in my last week’s update.   As indicated in my last week’s update the I have indicated that we might be forming an expanding triangle and it seems to be following in the same steps. The structure would remain intact till the market indicates otherwise. As far as expanding triangle is concerned the “E” wave would be the longest wave which is clearly indicating that we might see a new high in coming weeks, so we can expect the nifty to move above the all time high of 8626 so wait for the event to happen till its proven otherwise. Any major change in the movement of the market as per Elliott would be indicated immediately. So enjoy the bull run till it lasts.

May All be Peaceful and Happy

Mahiidar M

Enjoying life

Trend is friend.

MCX-908 has made a new 52 weeks high which is generally indicates bulls are becoming active in the stock and also the point to be noted is that the stock price has moved above 200 week EMA which also an indication that bulls are becoming active in that. it moved above 200 week EMA after nearly one and half year which is also a bullish signal. Stop Loss 800. 

May All be peaceful and Happy
Mahiidar M
Enjoying Life
Trend is Friend.

Exide Industries-Rs.188, Exide has made an all time high and as per me all time high is always a buy and it has all chances of moving up from current here. Fundamentally the company is a decent company and we can expect the stocks to move up from current levels considering the future of the company.Stop Loss: Rs.166/-

 May All be Peacefull and Happy
Mahiidar M
Enjoying Life
Trend is Friend.