BANK NIFTY monthly charts

- trend is up on monthly charts
- support 17700
- deep support 13000
- this is the 5th consecutive positive close
- YTD gain is 29%

NIFTY monthly charts

- trend is up on monthly charts
- support 7900
- deep support 6400
- this is the 5th consecutive positive closing

Swing trading signals :: 31-MAY-2017

• This report is for educational purposes only and is not recommended for trading or investment.
• Liquidity filter: ||||| excellent liquidity - ||||| good liquidity - ||||| low liquidity.

Stock name	Close	Percentage Change		Signal	Reversal Level/ SL	Last Month's
		1 day	20 days			High	Low
||||| ALANKIT	27.90	4.00%	25.00%	BUY	20.50	24	22
||||| ASAHIINDIA	259.55	8.00%	14.00%	BUY	224.15	232	213
||||| ASHOKA	190.35	-2.00%	-9.00%	SELL	218.70	231	191
||||| ASHOKLEY	94.50	0.50%	14.00%	BUY	81.50	89	81
||||| CYIENT	478.00	-4.50%	-12.50%	SELL	555.45	559	464
||||| DOLLAR	1893.75	5.00%	11.50%	BUY	1540.00	1595	1314
||||| ESCORTS	692.95	3.50%	21.50%	BUY	564.10	564	520
||||| FLFL	322.25	11.50%	11.50%	BUY	271.70	296	264
||||| GOACARBON	154.30	12.50%	3.50%	BUY	128.75	159	118
||||| HCL-INSYS	46.75	-2.00%	-16.00%	SELL	56.60	61	52
||||| IBULHSGFIN	1160.60	4.00%	7.00%	BUY	1013.30	1040	920
||||| IBVENTURES	156.60	4.00%	46.00%	BUY	106.10	125	61
||||| ICICIBANK	326.45	1.50%	19.50%	BUY	283.85	292	265
||||| IGL	1074.35	1.00%	1.50%	BUY	966.80	1084	990
||||| INDOCO	181.85	-4.00%	-18.00%	SELL	249.80	266	208
||||| JAMNAAUTO	256.65	6.00%	8.00%	BUY	220.10	250	212
||||| JCHAC	2087.60	7.50%	17.00%	BUY	1626.30	1890	1745
||||| KEC	259.95	3.50%	20.00%	BUY	209.15	232	203
||||| KITEX	371.05	-4.50%	-10.50%	SELL	421.65	537	417
||||| KOHINOOR	68.90	-11.50%	-12.00%	SELL	89.30	85	78
||||| KPRMILL	787.60	3.00%	5.00%	BUY	708.35	744	657
||||| LAKSHMIEFL	44.60	-3.00%	-10.50%	SELL	55.50	58	47
||||| LICHSGFIN	734.10	3.00%	3.50%	BUY	662.95	688	618
||||| LTI	800.60	4.00%	12.50%	BUY	705.00	729	694
||||| M&M	1416.95	4.00%	5.00%	BUY	1300.00	1364	1253
||||| M&MFIN	358.90	8.00%	9.50%	BUY	289.95	352	316
||||| MARUTI	7211.00	0.50%	8.50%	BUY	6602.00	6590	6021
||||| MCDOWELL-N	2265.35	8.00%	16.50%	BUY	1883.25	2080	1830
||||| MINDAIND	627.30	3.50%	26.00%	BUY	476.55	490	429
||||| MPHASIS	613.55	4.00%	7.50%	BUY	550.30	580	522
||||| MUTHOOTFIN	412.65	4.00%	4.00%	BUY	357.45	419	368
||||| NAVNETEDUL	183.65	6.00%	8.50%	BUY	151.10	175	158
||||| NH	330.85	4.00%	4.50%	BUY	290.15	336	311
||||| RENUKA	12.90	-1.50%	-11.00%	SELL	14.85	16	14
||||| ROLTA	54.00	-1.50%	-11.00%	SELL	61.25	64	58
||||| RUSHIL	763.50	1.00%	7.50%	BUY	682.00	714	518
||||| SHREEPUSHK	229.45	0.50%	17.50%	BUY	194.50	218	193
||||| SUPRAJIT	292.45	14.00%	24.00%	BUY	228.00	245	224
||||| TATACOMM	730.35	4.00%	3.00%	BUY	625.25	739	690
||||| TCI	295.75	12.00%	15.50%	BUY	240.40	246	228
||||| TIMETECHNO	142.65	5.50%	6.00%	BUY	120.00	130	111
||||| VAKRANGEE	364.90	1.50%	6.00%	BUY	340.25	355	326
||||| VINATIORGA	928.25	4.50%	11.50%	BUY	814.20	893	721
||||| VIPULLTD	81.15	-1.50%	-6.50%	SELL	97.90	88	60
||||| VISAKAIND	392.15	3.00%	19.50%	BUY	325.10	354	270

Market outlook

Daily chart
- trend is up on daily chart
- today, NF closed flat.
- AD was also flat
- option writing support 9500
- swing low support 9300

Elliott Wave Analysis of Bank Nifty using All Time Frames

Nifty is trading at new all time high and bounced more than 250 points in last 02 sessions. Our most of the wave counts were completing at previous high 9532 but a new wave has been started which breached 9532. So, we need to revise previous wave counts to check or identify the position of very last wave started from 9341.

So, today I am revising wave counts on all time frames to see if I can identify something different or interesting. Let’s start with a monthly chart covering life time move of Nifty.

Read more at http://sweeglu.com/elliott-wave-analysis-of-bank-nifty-using-all-time-frames/

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed marginally in positive.
- AD was negative
- swing low support 9300

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed marginally in positive
- AD was 1:3 while VIX jumped 8% to 11.8
- swing low support 9300

Comparison between KSE and BSE index gains in 4 years

The KSE (Karachi Stock Exchange Index) has trebled over a 4 year period giving a CAGR of 32%.

The BSE has yet to double in this period while the CAGR is 13%.

BANK NIFTY weekly charts

- trend is up on weekly charts
- support 22400-20300
- break of 22400 may mean trend reversal.

NIFTY weekly charts

- trend is up on weekly charts
- support 9300
- break of 9300 this week may mean trend reversal

CNX IT index technicals

- trend is up
- expecting strong resistance near 10900-11000

CNX Pharma Index down in the dumps

Correction in CNX Small Cap Index?

We have already seen a faster reversal of the last rally.

The index is 10% off the recent highs.

Now will we see formation of a lower swing high?

Correction in CNX Midcap Index?

We have already seen a faster reversal of the last rally.

Now will we see formation of a lower swing high?

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed almost 1% in positive
- AD was 4:1 while VIX was up 4% (why?)
- swing loss support is 9300
- consider trend as up as long as NF holds above 9300

Trading paradox: random outcome ... consistent profits

Here's an interesting paradox. 

Casinos make consistent profits day after day and year after year, facilitating an event that has a purely random outcome. 

At the same time, most traders believe that the outcome of the market's behavior is not random, yet can't seem to produce consistent profits. 

Shouldn't a consistent, nonrandom outcome produce consistent results, and a random outcome produce inconsistent results?

Source - Trading in the Zone/Fisher p.102

BANK NIFTY technicals

- trend is up on daily charts
- today, BNF closed 2.9% in positive
- swing low support/ reversal level 22400

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 1.5% in positive
- AD was 4:1 while VIX dropped 10%
- option writing support 9300 (JUN series)
- increasing swing low to 9300 now

NSE Advance Decline Chart

The rally is being sold into....

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed marginally in negative
- AD was 1:2 while VIX dropped 4% to 11.6 levels

Falling channel in NF futures hourly charts

Falling channels are usually bullish so let us see if a breakout happens.

Support 9300 and then 9000.

Best stock market forecast?

Lots of sell signals today

Swing trading signals :: 23-MAY-2017

• This report is for educational purposes only and is not recommended for trading or investment.
• Liquidity filter: ||||| excellent liquidity - ||||| good liquidity - ||||| low liquidity.

Stock name	Close	Percentage Change		Signal	Reversal Level/ SL	Last Month's
		1 day	20 days			High	Low
||||| ABAN	203.95	-4.50%	-10.00%	SELL	232.30	239	223
||||| ABIRLANUVO	1596.95	-1.00%	-5.50%	SELL	1744.85	1713	1514
||||| ALEMBICLTD	42.80	-2.00%	-15.50%	SELL	51.45	52	36
||||| ALKEM	1835.35	-2.50%	-9.00%	SELL	2038.70	2400	1897
||||| ALPHAGEO	939.70	-3.50%	-11.50%	SELL	1090.00	1090	869
||||| ANSALAPI	24.25	-4.00%	-8.00%	SELL	32.90	28	15
||||| ARCOTECH	354.45	-4.00%	-27.00%	SELL	542.00	542	459
||||| ASIANTILES	345.70	-4.50%	-11.00%	SELL	396.70	397	366
||||| BAJAJCORP	360.00	-1.00%	-9.00%	SELL	404.70	436	384
||||| BAJAJHIND	14.65	-4.00%	-17.00%	SELL	18.00	18	13
||||| BAJFINANCE	1233.75	-0.50%	-2.50%	SELL	1374.00	1350	1162
||||| BANKINDIA	146.45	-7.50%	-4.50%	SELL	197.20	190	138
||||| BATAINDIA	525.50	-3.00%	-9.50%	SELL	592.95	593	550
||||| BGRENERGY	157.35	-4.50%	-6.00%	SELL	184.80	183	138
||||| BHAGERIA	294.65	-4.00%	-8.00%	SELL	371.90	355	305
||||| BHARATFIN	665.95	-5.00%	-15.00%	SELL	822.80	824	720
||||| BHARATWIRE	85.50	-8.00%	-13.50%	SELL	112.00	111	93
||||| BIOCON	946.35	-3.50%	-11.00%	SELL	1188.00	1188	1054
||||| CARERATING	1437.30	-2.50%	-7.50%	SELL	1625.00	1698	1526
||||| CCL	310.50	-6.50%	-11.00%	SELL	350.50	355	332
||||| CENTURYPLY	247.95	-2.50%	-6.50%	SELL	271.00	271	250
||||| CHENNPETRO	363.25	-4.50%	-1.00%	SELL	424.90	394	362
||||| CIPLA	533.20	-5.00%	-4.00%	SELL	572.45	604	545
||||| COALINDIA	267.85	-2.00%	-3.00%	SELL	284.45	297	273
||||| COX&KINGS	207.40	-4.00%	-7.50%	SELL	243.00	232	210
||||| DEN	89.55	-7.00%	-8.50%	SELL	104.00	105	82
||||| DHANBANK	35.05	-2.50%	-4.50%	SELL	44.95	40	30
||||| DISHMAN	282.10	-3.00%	-14.50%	SELL	334.50	347	284
||||| DMART	708.40	-1.50%	-2.00%	SELL	824.50	807	628
||||| EROSMEDIA	205.95	-5.50%	-13.00%	SELL	249.80	282	215
||||| FCONSUMER	29.50	-6.00%	-13.00%	SELL	34.35	36	29
||||| FINCABLES	509.95	-4.00%	-3.50%	SELL	546.90	573	512
||||| FSL	33.55	-5.50%	-22.50%	SELL	44.80	45	40
||||| GATI	126.00	-4.00%	-9.00%	SELL	143.90	145	132
||||| GHCL	243.75	-3.00%	-6.50%	SELL	266.85	280	256
||||| GLENMARK	651.15	-2.50%	-26.00%	SELL	908.90	916	846
||||| GOACARBON	136.10	-1.50%	-10.00%	SELL	158.75	159	118
||||| GRASIM	1096.90	-0.50%	-7.00%	SELL	1218.00	1199	1045
||||| GUJALKALI	435.15	-4.00%	-7.00%	SELL	484.05	484	405
||||| GUJFLUORO	654.00	-2.00%	-8.00%	SELL	816.00	789	660
||||| HAVELLS	450.10	-5.00%	-7.00%	SELL	526.30	499	459
||||| HCC	41.10	-5.50%	-10.00%	SELL	48.10	48	39
||||| HCL-INSYS	49.05	-5.00%	-17.00%	SELL	59.95	61	52
||||| HDIL	82.95	-7.00%	-11.50%	SELL	101.80	97	81
||||| HIL	767.60	-2.50%	-9.50%	SELL	888.00	888	786
||||| HINDOILEXP	74.75	-4.50%	-9.50%	SELL	86.20	89	79
||||| HINDZINC	240.00	-3.00%	-12.50%	SELL	277.20	294	266
||||| HPL	122.85	-11.50%	-6.00%	SELL	149.70	142	119
||||| ICIL	170.20	-9.50%	-11.50%	SELL	210.05	209	187
||||| IDFCBANK	58.40	-2.00%	-0.50%	SELL	67.00	67	58
||||| INTELLECT	116.15	-5.00%	-5.50%	SELL	145.70	134	115
||||| ITDC	553.80	-3.50%	-22.50%	SELL	734.80	747	398
||||| ITI	77.05	-8.50%	-26.00%	SELL	118.00	118	69
||||| JAMNAAUTO	224.90	-4.00%	-6.00%	SELL	247.80	250	212
||||| JAYSREETEA	97.55	-2.50%	-11.00%	SELL	119.60	123	108
||||| JBFIND	267.20	-3.00%	-4.00%	SELL	305.00	302	266
||||| JISLJALEQS	87.30	-5.00%	-21.50%	SELL	119.70	120	93
||||| KCP	111.90	-15.50%	-16.00%	SELL	135.60	138	105
||||| KEI	203.50	-4.50%	-5.50%	SELL	238.00	219	185
||||| KESORAMIND	140.30	-3.00%	-18.00%	SELL	173.30	173	144
||||| KIRIINDUS	261.80	-3.50%	-7.50%	SELL	292.50	302	278
||||| KOLTEPATIL	163.30	-3.00%	-12.00%	SELL	204.05	204	173
||||| KSCL	522.05	-1.00%	-8.50%	SELL	589.60	590	540
||||| KWALITY	140.80	-2.50%	-12.00%	SELL	163.40	169	149
||||| LIBERTSHOE	168.15	-4.00%	-5.50%	SELL	195.80	193	166
||||| M&MFIN	305.10	-2.00%	-10.50%	SELL	347.70	352	316
||||| MAJESCO	324.30	-2.50%	-12.00%	SELL	388.90	410	334
||||| MANGALAM	172.25	-3.50%	-15.00%	SELL	214.90	215	145
||||| MANINFRA	54.60	-4.50%	-2.00%	SELL	62.50	62	46
||||| MARKSANS	46.45	-3.00%	-9.00%	SELL	56.30	58	47
||||| MERCATOR	40.50	-4.50%	-24.00%	SELL	54.20	55	46
||||| MERCK	1029.60	-1.00%	-6.50%	SELL	1141.40	1199	1033
||||| MGL	950.60	-2.50%	-5.50%	SELL	1054.95	1055	880
||||| MINDACORP	104.25	-4.50%	-13.50%	SELL	123.90	124	94
||||| MOIL	307.30	-1.50%	-2.00%	SELL	338.75	347	303
||||| MONNETISPA	36.65	-5.50%	-6.50%	SELL	44.50	40	34
||||| MOREPENLAB	19.90	-5.00%	-5.00%	SELL	23.95	22	19
||||| NAVINFLUOR	2891.60	-2.00%	-9.50%	SELL	3240.00	3240	3000
||||| NAVKARCORP	204.10	-4.00%	-3.00%	SELL	247.00	219	174
||||| NCC	90.95	-4.50%	-8.00%	SELL	103.65	102	82
||||| NECLIFE	34.80	-3.00%	-13.00%	SELL	41.25	44	35
||||| NH	291.05	-2.00%	-8.50%	SELL	327.05	336	311
||||| NHPC	29.75	-2.50%	-6.00%	SELL	32.15	33	31
||||| NMDC	119.10	-2.00%	-8.50%	SELL	131.55	138	125
||||| NTPC	156.95	-0.50%	-5.50%	SELL	167.00	169	158
||||| OBEROIRLTY	374.45	-2.50%	-7.00%	SELL	416.00	414	362
||||| POLYPLEX	445.45	-3.00%	-5.50%	SELL	499.80	500	416
||||| PRABHAT	115.50	-5.50%	-7.00%	SELL	127.10	130	119
||||| PRESTIGE	227.95	-3.00%	-12.00%	SELL	283.00	283	205
||||| PTC	92.00	-4.00%	-4.00%	SELL	105.25	100	93
||||| PUNJLLOYD	21.25	-5.00%	-7.50%	SELL	25.35	24	19
||||| RAMKY	97.00	-5.00%	-13.00%	SELL	113.50	122	102
||||| RAYMOND	699.55	-2.00%	-7.00%	SELL	807.30	784	630
||||| RCF	79.95	-5.00%	-5.00%	SELL	99.80	89	79
||||| RDEL	60.80	-4.00%	-9.00%	SELL	70.70	70	63
||||| RELIANCE	1305.55	-1.00%	-7.50%	SELL	1467.75	1468	1337
||||| ROLTA	56.50	-2.50%	-10.50%	SELL	64.10	64	58
||||| RPOWER	44.20	-3.50%	-11.00%	SELL	50.25	51	45
||||| RPPINFRA	260.20	-3.00%	-6.00%	SELL	294.00	294	267
||||| RUPA	359.65	-1.00%	-11.00%	SELL	419.00	424	322
||||| SHARDACROP	494.80	-9.00%	-4.50%	SELL	570.00	527	474
||||| SIGNET	11.05	-4.00%	-23.00%	SELL	14.90	18	13
||||| SINTEX	104.60	-7.00%	-8.50%	SELL	121.40	118	106
||||| SJVN	30.95	-4.50%	-11.50%	SELL	36.50	36	34
||||| SONATSOFTW	146.05	-2.50%	-11.00%	SELL	172.35	177	162
||||| SPIC	25.95	-5.00%	-7.50%	SELL	31.90	29	23
||||| SRF	1611.90	-5.50%	-5.50%	SELL	1859.00	1825	1625
||||| SRIPIPES	322.30	-2.50%	-16.00%	SELL	391.25	395	355
||||| SRTRANSFIN	959.20	-3.50%	-8.50%	SELL	1095.00	1120	1016
||||| SUNILHITEC	12.90	-2.50%	-13.50%	SELL	15.60	15	12
||||| SUNPHARMA	614.10	-4.00%	-4.00%	SELL	656.95	700	632
||||| SWANENERGY	137.55	-2.50%	-13.50%	SELL	163.85	164	134
||||| SYMPHONY	1355.70	-3.00%	-6.50%	SELL	1520.00	1546	1396
||||| TASTYBITE	4890.20	-3.00%	-8.00%	SELL	5812.75	5610	4600
||||| TATAELXSI	1455.40	-4.50%	-7.50%	SELL	1603.45	1605	1470
||||| TATAGLOBAL	144.75	-2.00%	-4.50%	SELL	161.45	157	148
||||| TATAINVEST	654.40	-2.00%	-2.50%	SELL	701.00	700	633
||||| TATAMETALI	621.60	-3.00%	-9.00%	SELL	706.40	725	589
||||| TATAPOWER	80.50	-1.50%	-6.00%	SELL	86.85	91	81
||||| TDPOWERSYS	216.65	-4.50%	-5.00%	SELL	269.90	255	214
||||| TEXRAIL	91.70	-4.50%	-8.00%	SELL	104.70	104	93
||||| THYROCARE	694.90	-2.00%	-4.00%	SELL	777.00	780	700
||||| TIRUMALCHM	853.70	-2.50%	-3.50%	SELL	1011.10	930	855
||||| TORNTPHARM	1263.60	-3.00%	-13.50%	SELL	1473.45	1550	1394
||||| TVSELECT	176.25	-4.50%	-10.00%	SELL	207.90	216	171
||||| UJAAS	33.75	-2.00%	-11.50%	SELL	38.80	40	34
||||| UJJIVAN	305.45	-2.50%	-24.00%	SELL	408.00	426	379
||||| VADILALIND	871.95	-3.00%	-4.00%	SELL	996.00	1017	887
||||| VIPIND	183.20	-5.00%	-7.50%	SELL	215.40	217	182
||||| WELENT	85.20	-3.00%	-10.50%	SELL	100.50	101	82
||||| WSTCSTPAPR	183.05	-1.00%	-9.00%	SELL	205.60	209	174