BAJAJ AUTO LTD.

Weekly Chart

 

Weekly Chart of Bajaj Auto Ltd. shows that it is about to enter into up move, there is resistance at the level of 1429.34. The volumes are decreasing but the stock has crossed the resistance caused by 20 day simple moving average. The MACD has crossed above the the signal line, the slope of the histogram is positive.The RSI is near the 50% level.The Stochastic is above the 50% level.All this indicates bullishness in the stock.

Daily Chart

Daily Chart of Bajaj Auto Ltd. shows that there is resistances at a level of 1429.34, once it is crossed then the next resistance for the stock is at 1540.88. The volume in the stock is rising since last few days and the the closing price is also rising every day which shows the returning faith in the stock.The MACD has crossed the signal line above and the slope of histogram is rising. RSI is above the 50% and stochastic %D has crossed above the Smoothed %D near the 20% level giving the buy signal.

Recomendation: One can buy the stock near the level of 1429 for the target of 1540 keeping a stop loss of 3 to 5% according to one's risk appetite.

ACC LIMITED

The ACC Ltd. has resistance at the level of 1021 posed by the 100 day simple moving average and support at 1000 by the 20 and 50 day simple moving average. Both the RSI and slow stochastic are in the overbought region and has started to inch down singling the minor correction or side ways movements for a short term.  

NIFTY

The nifty is moving in the range of 5200 to 5600. It is trading blow all the moving averages of 20,50,100 and 200 simple day moving averages. MACD is trading blow the zero line and MACD has crossed the signal line downward indicating sell signal. RSI(14) has changed it's direction downward. The Stochastic is also in the downward direction towards 50% level. All this shows that the Nifty will move towards 5200 psychological level, once this level is breached the next level will be 4830.

BSE SENSEX 30

BSE SENSEX is correcting and has fallen through the 200 day simple moving average.The bears are dominating over the bulls. The down trend is confirmed by the rising ADX, as it is trading above 35 level. MACD has crossed below the zero line. RSI and Stochastic both are in over sold region. The next support levels for SENSEX are 16551.11 and 15986.33.

Gold

 

As I have mentioned in my previous post on 20 January 2011, that the gold is forming the bearish chart pattern “The Triple Top” . The gold has corrected up to $1308.10/oz on 28/1/2011 and it has moved up to $1366.80/oz on 9/2/2011. It is now facing the resistance due to the 50 day simple moving average. The RSI is above 50 level and MACD has crossed signal line but below the zero line this indicates mild bullishness.The Gold may remain side ways or some minor correction, then it will resume its upward move. Near term target for the Gold is 1394.36.

S&P CNX NIFTY update

The S&P CNX NIFTY is in down trend. It has fallen through all the moving averages say 20, 50, 100 and 200 day and the major support of 5400 and now it is certain the it will fall through the 5208 - 5210 support.As all the major indicators indicates that. The -DI has crossed above the +DI and the ADX is rising near to 40. The MACD is making lower lows and lower high and MACD has crossed the zero line and is blow the zero level. RSI and Stochastic both are in oversold region and may remain their as the sentiments are bearish and more selling may come. The next level of support is 4944.      

S&P CNX NIFTY

The nifty has fallen in down trend.It is trading below 200 day simple moving average. The RSI is making lower lows and lower highs the same is true for the MACD. RSI is trading blow 50 level and is at 28.91 and MACD is trading blow the zero line. All this indicate that bears are winning the game and dragging the nifty downwards. Once the important level of 5400 is breached, the weakness will be more visible and the next support level will be 5210.