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Globally, prices of various commodities have been on a downward spiral. Prices of oil, gold, steel, copper, aluminium have reduced considerably. That should be good for the Indian economy – as India imports significant quantities of oil and gold. Reality is a little different. Lower oil prices have shrunk our current account deficit and benefitted […]

WTI and Brent Crude Oil charts: an update

Posted by on July 28, 2015 11:56 am · 24 views

in Stock Trading

The downward ‘gap’ that formed on the daily bar chart pattern of WTI Crude oil on Jul 6 was a strong signal for bulls to turn tail. The few that decided to stay back managed to fight for 7 days but got badly mauled. Oil’s price has dropped to test its Apr 1 low of […]

S&P 500, FTSE 100 charts: no respite from bears

Posted by on July 27, 2015 12:36 pm · 13 views

in Stock Trading

The daily bar chart pattern of S&P 500 rallied past its Jun 22 top of 2130 to touch an intra-day high of 2133 on Jul 20, but fell just short of its lifetime high of 2135 (touched on May 20 ‘15). Bears mounted a strong attack. The index crashed below its 20 day and 50 […]

Bulls and bears were evenly matched during last week’s trading, with bears wresting a slight advantage. FIIs were net buyers of equity worth Rs 1130 Crores as per provisional figures. DIIs were net sellers of equity worth Rs 1135 Crores. Commerce and Industry Minister Nirmala Sitharaman, in a written reply to the Lok Sabha, mentioned: […]

Technical updates – Exide and Hero Moto

Posted by on July 25, 2015 20:21 pm · 41 views

in Stock Trading

The automobile industry has been going through a period of transition and upheaval due to the overall economic slowdown. Lower oil prices have helped the industry. But withdrawal of excise duty concessions haven’t. Commercial vehicle sales have just started to improve after a prolonged slump. Passenger vehicle sales are struggling. Even 2-wheelers (Royal Enfield aside) […]

Nifty chart: a mid-week update (Jul 22 ‘15)

Posted by on July 22, 2015 20:13 pm · 51 views

in Stock Trading

Greece’s debt problem has been temporarily resolved. Iran’s nuclear deal has brought forth mixed global reactions. Gold and oil prices are down again. These are all positive news for the Indian market. All eyes are now on Q1 (Jun ‘15) results. Infosys positively surprised the market. Asian Paints and HUL declared in-line results. Sun Pharma […]

Gold and Silver charts: an update

Posted by on July 21, 2015 19:42 pm · 30 views

in Stock Trading

The daily bar chart pattern of gold collapsed on heavy volumes after breaching the previous support level of 1140, and formed a ‘panic bottom’ at 1080. A ‘dead cat bounce’ took gold’s price to the 1100 level, but the worst may not be over. A ‘panic bottom’ seldom holds. That means the Jul 20 ‘15 […]

FIIs have turned positive about the Indian market again. Their net buying in equities crossed Rs 2500 Crores during the past week, as per provisional figures. DIIs were net sellers of equity worth Rs 625 Crores. Merchandise exports during Jun ‘15 slumped for the 7th month in a row, touching $22.29 Billion against $22.34 Billion […]

Nifty chart: a mid-week update (Jul 15 ‘15)

Posted by on July 15, 2015 18:47 pm · 53 views

in Stock Trading

CPI inflation touched a 9 months high of 5.4% in Jun ‘15 – thanks to higher food prices. In May ‘15, CPI number was at 5.01%. In Jun ‘14, it was much higher at 6.77%. WPI inflation remained flat at –2.4%, but the rising CPI number justified RBI Governor’s hawkish stance on not reducing interest […]

The daily bar chart pattern of WTI Crude had been consolidating sideways during May and Jun ‘15, raising bullish hopes of an upward break out. A resolution of Greece’s debt problems – though delayed – led to a drop from the consolidation zone between 57 and 62 with a downward ‘gap’. The ‘gap’ is likely […]

The daily bar chart pattern of S&P 500 tested support from its 200 day EMA, and even closed for a day below it (for the first time since Oct ‘14) before bouncing up. At the time of writing this post, the index is trading above its three EMAs in bull territory. Is the correction from […]

News on the manufacturing front remains indifferent. The IIP number for May ‘15 was 2.7%, compared with 5.6% in May ‘14. The Apr ‘15 number was revised downwards to 3.4% (from 4.1%). As per provisional figures, FIIs and DIIs were both net sellers of equity during the past week. FII net selling was worth Rs […]

Technical updates – Cairn India and Castrol

Posted by on July 10, 2015 13:10 pm · 34 views

in Stock Trading

After crossing the $105 per barrel mark back in Jun ‘14, WTI Crude oil price fell off a cliff. It touched a low near $40 in Mar ‘15, but bounced up above $60 in May ‘15 – where it consolidated for the next 2 months. Oil’s price has started sliding again. Lower oil price is […]

Nifty chart: a mid-week update (Jul 08 ‘15)

Posted by on July 8, 2015 21:08 pm · 36 views

in Stock Trading

Just when the Greek debt tragedy appeared to be fading out from TV headlines, a Chinese typhoon blew over global stock markets and smashed down share prices. A Chinese stock market bubble was building for some time due to excessive leveraged speculation. The Shanghai Composite was in a downward trajectory any way, so why the […]

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