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Welcome to
Kush Ghodasara's Blog

A SEBI Registered Research Analyst

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Nifty had been trading in range since the announcement of corporate tax rate cute but finally it seems market have found some direction on weekly charts.  Formation of "Evening star" pattern on weekly charts have given so cheer to bears while trend confirmation would be done next week. Nifty bank, which has the highest beta in Nifty, gave the initial sign of breakout on last tuesday when it closed below 200 DSMA at 28788 while Nifty closed below 200 DSMA at 11257 on Friday which means still. . . .

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Month of August has been one of the most volatile expiry in recent past. We have seen equal momentum on both the side and today was a perfect example of another such session where we witnessed volumes both at the support levels and resistance levels. Fundamentally, global growth has seen some pause on upside and its feared that we may have to see more pain in the growth in coming months which is letting bears to have a upper hand. But technical markets have now reached a level where a breakout o. . . .

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 Nifty had shown a bearish H&S pattern when i wrote last time and it was expected to touch down 11275. Surprisingly, that target was achieved within 3 session of when we saw a breakout which is very rare. Looking at the such rapid fall, we can assume either of two things: First, Markets are discounting something which is unknown  to common traders or secondly this is just a panic fall and we shall find some support soon. So looking at the charts technically, nifty is approachi. . . .

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Nifty has been consolidating in the range of 11550-11850 since last 2 months. Just looking at the numerical change, it seems markets have done nothing in same period, But charts were busy forming a bearish pattern i.e., HEAD and SHOULDER. Dont know why none of the analyst are spotting the same, but i just did. Ofcourse while writing down this post, we have still 1 hour to todays close but i feel pattern would get confirmation with Nifty closing below or around 11560. Breakout line which is often. . . .

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Nifty witnessed a blood bath since my last post and fear has spread for a bearish market but may be its not right time to fear anymore. Nifty was bound to go down as i mentioned in my post (Link) but was confused and expected a relief rally before hitting down to my target of 11250. Never mind,  though my readers would have earned a good chunk of money as we recommended to buy 11500 PE October on 7th September and expected all to cover in the range of 11250-11320 and luckily yesterd. . . .

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Markets has been volatile in past week with a strong sell off at the start of the week followed by 2 days of short covering in the end. Last two sessions has given strong hopes to traders again for a rally to resume towards 12500 mark which is a 2018 expect target, but i believe its not going to be easy way out. Next week is also expected to be volatile with a move on both side but may be in vice-versa order than previous week. Nifty Technical Chart Study Nifty was trading in a strong upside cha. . . .

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TataSteel:  A Steel Mammoth  Tata Steel is one of the top steel producing companies globally with annual crude steel deliveries of 27.5 million tonnes (in FY17), and the second largest steel company in India (measured by domestic production) with an annual capacity of 13 million tonnes after SAIL. Tata steel has wide operations in 26 countries which was achieved mostly after they acquired Corus in Europe. Though acquisition happened at a wrong time, just before finan. . . .

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Why to Invest in Sun Pharma? Sun Pharma became largest pharma company in 2014 in India as well as in US and 5th largest globally after it acquired Ranbaxy. Since the acquisition company had been in a turmoil because of its US Sales were under pressure at TARO pharmaceuticals and even its Indian Halol Facility which is a key production house of the company was under USFDA Scanner hurting its profit. Even the promoter Dilip Shanghvi is well known for converting sick units into a successful busin. . . .

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Tata Motors is a injured key player Tata Motors Limited, a USD 45 billion organisation, is a leading automobile manufacturer with a portfolio that includes a wide range of cars, utility vehicles, trucks, buses and defence vehicles. JLR which is a luxury car brand is owned by Tata motors. Recently, due to many set backs at global sales, company’s profit has tumbled. But since past few months, sales have been on a rising trend and we calculate YoY % change, then since 2016 they are on recovery m. . . .

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What is Nifty Bank Index? Nifty Bank which represents the 12 most liquid and large capitalised stocks from the banking      sector which trade on the National Stock Exchange (NSE). It provides investors and market intermediaries a benchmark that captures the capital market performance of Indian banking sector. Current Take on the charts Nifty bank is in strong uptrend since last two months with Higher highs almost each week. Indicators on daily chart are in overbought zone. . . .

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