Analyzing India

June 2019

Analyzing India

Bullish Setup On This Stock

by Milan Vaishnav

DREDGING CORP. OF INDIA LTD -- DREDGECORP.IN Following a prolonged down move and some subsequent bottom-finding, DREDGECORP is set to confirm its reversal. The stock is currently breaking out of a falling trend line resistance, which begins from 479 and joins the subsequent lower tops. In the process, the stock has also formed a complex inverted head-and-shoulder formation, which is bullish. The RS line, when compared against the broader markets, has also reversed its trajectory and has penetrated its 50-DMA. With the price ending outside the upper Bollinger band, the possibility of the Read More 

Analyzing India

Week Ahead: Larger Technical Setup Remains Challenging; Reaction To Budget May Increase Volatility

by Milan Vaishnav

In the previous week, the markets were expected to remain mostly volatile and to remain under range-bound oscillation without making any significant headway. In line with this analysis, the NIFTY headed nowhere, had a lackluster week and ended with mild gains on a weekly note. While the NIFTY continued to resist its important double top resistance in the zones of 11840-11880, the index finished the week with gains of 64.75 points (+0.55%) on a week-to-week basis. We have a domestic event (the Union Budget) to face, which is slated to come Read More 

Analyzing India

Week Ahead: Mild Pullbacks Likely But Broader Technical Setup Remains Weak; Volatility May Increase

by Milan Vaishnav

In our previous weekly note, we had mentioned the possibility of the markets not giving any runaway moves on the higher side. The week that went by remained on expected lines as the headline index resisted to one of its significant double top resistance areas, which lies in the 11840-11880 zones. In line with this analysis, the markets formed the weekly high around this point and then went into some corrective move. The NIFTY did not make any vital headway on either side and ended with a modest loss of 99.20 points (-0.84%) on a weekly basis. Read More 

Analyzing India

Week Ahead: No Runaway Surge Expected; Markets May Continue Exhibiting Negative Bias

by Milan Vaishnav

In yet another wide-ranging week, the NIFTY oscillated in a 400-point range, ending the week with a modest cut. In our previous weekly note, we had raised concerns about the NIFTY failing to confirm the attempted breakout. In line with the our analysis, the index did not show any intention to break above the critical resistance levels. After moving in a broad range, the NIFTY ended with a minor loss of 47.35 points (-0.40%) on a weekly note. The broader technical set-up does not paint a pretty picture for the markets going forward Read More 

Analyzing India

Week Ahead: With Breakout Not Getting Confirmed, Chasing Technical Pullbacks Should Be Avoided

by Milan Vaishnav

Throughout the previous week, the Indian equity markets remained less volatile than expected, but, at the same time, marked some important technical events. After trading in a 350-point range, the index hit its key resistance zones, retraced and ended the week with a modest loss. The RBI Credit Policy largely remained a non-event for the markets. The headline index NIFTY 50 ended with a net loss of 52.15 points (-0.44%) on a weekly note. The previous week also witnessed a few important technical events. The NIFTY marked its fresh incremental Read More