Technical Analysis of Indian Equities by Nooresh


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Bank Nifty and Private Banks Charts

In Bank Nifty

This has been one unusual move in Banks. We have a bunch of PSU banks going down the drain and you have the following 4 hitting almost new all time highs and 12-18 month highs. Also at the same time ICICI Bank continues to lag and Axis has seen a [...]

Bank Nifty and Nifty – Major Divergence. Pair Trade- Short Nifty and Buy Bank Nifty ?

  Generally we see Nifty and Bank Nifty to go in tandem over the last many years.   This is almost the first time we are seeing such divergence.   A pair trade can be initiated when Bank Nifty dips to 10300-10500 and short Nifty. One can even do the [...]

Bank Nifty, ICICI Bank and Axis Bank – Nearing long term trendline support.

  Bank Nifty Technical View   -> Although it has broken the major momentum channel but now it is nearing a 5 year important trendline in the band of 10500-10250. -> Such important supports are not broken with ease and even if it has to we may see a strong [...]

Bank Nifty – Technical View

In Bank Nifty

Bank Nifty is facing a resistance around the 9900 – 10000 level. It may make a false move above this level. Traders can look to short around resistance levels. A quick fall may take place below 9500. Click to See Chart

Nifty and Bank Nifty – Technical Trading View

Nifty futures is trading between 4705-4675. If Nifty futures starts trading below 4675 then it will re-test the low 4640-4635 which was made yesterday. Bank Nifty major support for the day at 8020 and resistance at 8115. Stocks to track SBI,ICICI, Axis. Click below to see Technical charts and Read [...]

SBI —- Nearing a good long term entry point if falls any further.

  SBI –Very strong support levels at 1850-1950 zones. Would also be closer to 61% retracement.

HDFC Ltd and ICICI Bank Technical View

  ICICI BANK —- Expecting some recovery from 750-800 zones or maybe a good bottom in place at those levels.   Bank Nifty downside target is closer to 9200 so lets wait for some reversal signs next week. Nifty around 4700 Sensex 15500 are technical downside targets we need to [...]

Time to look beyond Nifty And Sensex —- Midcaps/Smallcaps are available at 12-15k Sensex levels.

A quick conclusion of the analysis on BSE Midcap Index      Although the benchmark indices Nifty and Sensex did go back to touch the 2008 highs the midcap and small cap indices came nowhere close to the 2008 levels. Currently the index is down 38% from 2008 highs [...]

RBI hikes Repo and Reverse repo by 50 bps — Markets to get sluggish with stock specific action

  Sensex Technical View: Market tends to surprise as always. This becomes yet another attempt at 5700-5750 and 19100 trendline resistance. So till we dont start closing above the trendline levels will make the markets sluggish broadly in 18000-19000 levels. At current levels the broader market seems more interesting as [...]

Sensex 17000-17300 Nifty 5120-5170 Very strong supports – Fear at a high. Selective Buying Advised.

    INDIA  VIX made a top day before yesterday with the sudden spike down. VIX tends to top at 25 levels and market bottoms out at such high vols. So we have either made a bottom or very close to it. Time for Selective Buying     RSI is [...]