SUNTV. A slow mover with a strong setup. Worth adding on dipps till 530/545 for the Pattern Targets of 598 and 635 on cash directionally. Harmonic Channel Targets here would be 660 in medium term. Once 600 breaks on upside cycle targets would be much higher.

FEDERAL BANK. Have a very strong line of supports in the range of 78 to 88. As far as this zone holds which I believe should hold Then we would witness the levels of 120 135 and 150 here positionally. Overall a very strong structure. The High made on 25th Oct won’t be a challenge going forward.

NIFTY getting ugly for Investors but going great for Traders. 17400/17500 extremely strong complex pattern support so expect some stability around these levels. If 17400 holds then we might see 18800 in near term. But better to take 1 day at a time for now.

The big move was due and it came Today. We had several Technical reasons to believe that the swing most probably would come on downside. We now trades below a previous swing high on NIFTY. Technically things doesn’t looks so nice. Be very careful with your long positions on Both INDICES. NIFTY BANK also felt heat after an unprecedented rise. Has alerted on a possible gravitational move here earlier in the week. Trend is getting stronger on downside so stay light and keep approach of sell on rallies.

NIFTY gave decent downswing below 18220 in such market need to satisfy with 80 to 100 points of profit for short term. It’s a sideways market with a downside buyerst. Trending downmove possible below 17940 on spot. So until that happens look to take small profits. 18020 Imp support for today.

NIFTY getting indecisive in the zone of 18300/18400. Mentioned yesterday that this is a tough zone to negotiate. Any Expiry boom possible only above 18430 for short term targets of 18490 and 18560 on spot. For immediate term 18220/18370 would be a no trade zone. Decent move possible beyond this zone either side.

GSFC
A decent setup. Buy on dipps till 118 for the Targets of 152 and 168 positionally. 168 also is a Hexagan Target here which is pending. Results due so volatility would be there until event unfolds. Entering F&O from next series.

MANAPPURAM
A VERY STRONG buy on dips structure. Could be added on dipps for the targets of 224 and 250 on cash directionally. Gave a strong reversal near Harmonic Channel area recently. Medium term targets here would be 280.

The way Gaps are sold on NIFTY reminds me of a similar kind of a market which we had in second half of March this year. Certainly NIFTY is losing its momentum. It already broke an Important support point of 18050 in previous week. So structure is sell on rise for now until NIFTY trades comfortably above the zone of 18300/18400 on spot. It won’t be an easy task. NIFTY BANK has been an outstanding performer. But the Law of Motion could show its Impact in coming days. It’s not yet a down trending market as far as INDICES are concerned. So trades should be managed accordingly. Volatility is expected to rise so Trading Futures won’t be a good idea. The selling could intensify once we close below 18000. We might test 17850 and 17650 once that happens.

ACC
Looks a terrible structure. A classic sell on rise candidate. 2260/2300 is a major supply zone. A larger degree breakdown is placed below the zone of 2140/2160 which once breaks then could test 2085 and 2025 on cash Positionally. There is a very strong chance of a breakdown here in coming days.