The Chart that matters right now: USDINR
USDINR on weekly chart has created a well defined barrier around 63.91. The big question: Will INR depreciate below 63.91 on weekly basis? If it does, how will it play out.
Nifty: Where are dip buyers?
Nifty lost 5 points. Market lacks enthusiasm and dip buyers are not jumping over each other to buy.
Banks saved the market today
Bank stocks saw some decent buying today and they saved the index from collapsing beyond a point
Tech Mahindra: High Expectations and Poor Performance
This is how market reacts when it has high expectation with the stock and company comes out with disappointing results. Big damage to the chart done. No point looking for support. The stock is AVOID now
Tata Motors: No Conviction
The stock is standing at support of 470 but does market participants have any conviction in the stock to support at current levels. I doubt that.
Reliance: Struggling below 200 dma
Bulls live above 200 dma whereas Bears live below 200 dma. Reliance stock seems to be struggling below 200 dma. As long as stock trades below 200 dma, there is no point even hoping for bullish days on the stock
Bharti Telecom: Big Picture
If you see the chart over last 4 years - the stock has created a well defined resistance at 415-420 and is trying to clear it. The question: Will the stock clear the big hurdle?
NBCC: Bull market stock at 200 dma
This Bull market stock has stunned market in 2014 with its performance. The stock has pulled back to 200 dma: Buying opportunity?
MRF Building Base
Is MRF building base around current levels? Technically it appears so. The big question: will it succeed?
What is speculative frenzy?
I covered this stock on May 20. Look at the last stock on that post. The stock is up another 46% from that day. Now tell me what other explanation you can come up with when stock moves up like that
It does not matter what anyone believes. Market will do what it has to do and one should be prepared to deal with whatever market does
- Chart Talk Searching for Direction
- Chart Talk May 26 2015
- Chart to watch on May 25 2015
- Ten Charts to keep an eye on May 20 2015
Please share your comments on what you think of above stock observations
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers