Petronet

Petronet:
May futures previous close 139.
Buy and hold with a stop loss of 136.
Will be maintaining a target of 150+ soon.......

Maruti Suzuki

Maruti Suzuki- Manipulation over.....
Previous close 1683.
Any rise, sell this counter with a small stop loss of 1710.
Please respect this small band of entry and stop loss.....
Sell may futures accordingly.............

Kotak Bank

Kotak Bank : Rally over.....
May futures previous close 713.
Any rise sell this counter around 715- 720 level......
Maintaining  a target of 670 with a stop loss of 728.....

nifty Futures

Nifty Futures:
CMP 5816.
Stop loss of 5823.
Sell it for intraday trades.......

Tech Mahindra- Ready to dive???

Tech Mahindra:
Wait for this counter to break 960 level.......
Once breaks, Sell futures accordingly and take a stop loss of 975 in the underlying....
Repeat trades if required...
Expecting this counter to crash to 910 in the coming days.....

Top 3 Technical Tools Part 1: Japanese Candlesticks

Top 3 Technical Tools Part 1: Japanese Candlesticks
EWI senior analyst Jeffrey Kennedy shows you how to identify quality trade setups with supporting technical indicators.

By Elliott Wave International

"I always will be an Elliottician, but other technical tools have merit and are indeed worthwhile: they allow me to build a case, build a more confident reason for making a forecast and for taking a trade; making a trading decision."

-Jeffrey Kennedy

I recently asked Elliott Wave International analyst Jeffrey Kennedy to name his 3 favorite technical tools (besides the Wave Principle). He told me that Japanese candlesticks, RSI, and MACD Indicators are currently his top methods to support trade setups.

In this 3-part series, we will share examples of how to use these 3 tools to "build a case" in the markets you trade. These practical lessons allow you to preview how Jeffrey applies techniques with proven reliability to support his analysis.

We begin this first lesson with a basic candlestick-style price chart.

This is excerpted from Jeffrey Kennedy's teachings. Follow this link to learn more about Jeffrey Kennedy's educational trading service, Elliott Wave Junctures.

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You may be familiar with an Open-High-Low-Close (OHLC) chart: comprised of vertical lines with small horizontal lines on each side. The top of each vertical line is the high and the bottom is the low. The small horizontal lines on either side represent the open and close for that period.

Here's an example of a Japanese Candlestick chart:

Japanese candlestick charts employ the same data that OHLC price charts do except that the data is expressed differently. The real body is the range between the open and close, and appears as a small block. Shadows are the lines that extend upward and downward from this block, and represent the highs and lows.

Next, take a look at the chart below.

Two bearish candlestick reversal patterns that Jeffrey finds highly reliable are the Evening Star and the Bearish Engulfing Patterns. This weekly continuation chart for the Canadian Dollar combines a 20-period moving average to show that the trend is down -- allowing you to focus on bearish reversal candlestick patterns to spot trading opportunities.

Jeffrey notes that "combining these reversal patterns with moving averages makes them even more dynamic because they focus your attention in the direction of the larger trend."

Japanese Candlesticks begin our spotlight on Kennedy's top 3 ancillary tools for trading with the Wave Principle. We'll share parts two and three via how Kennedy uses RSI and MACD indicators to support his Elliott wave interpretation in coming weeks.

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To learn more about these tools now, access our FREE 10-Lesson Trading Series, "How to Apply Some of the Most Powerful Technical Methods to Your Trading." You will gain access to an archive of lessons that includes a wealth of information: in-depth guidance and insight on the Elliott Wave Principle and other technical approaches. You'll learn some of the best technical indicators for analyzing chart patterns, anticipating price action, and spotting high-confidence trade setups. Learn how you can access your free lessons now >>

This article was syndicated by Elliott Wave International and was originally published under the headline Top 3 Technical Tools Part 1: Japanese Candlesticks. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

TATA Motors

TATA MOTORS:
CMP 280.
Buy 300 put at cmp of 22.

Shriram Transport Finance

SRTransfin:
Only two levels to remember..... 660 and 675.
Below 660, we will be short in this counter with a stop loss of 675.
Will be repeating the trades if required.............
Any close below 660 will be the end for this stock....
Sell April futures accordingly...........

ICICI Bank- Last chance for survival....

ICICI Bank:
Today this counter after trigger stop loss for our previous trade, again re-entered the position with the same level of 998 and and stop loss of 1008.
Previous close 990.
For fresh entrants, take a stop loss of 1005 in the underlying and buy 1020 puts......
Any trade below 980 will take this counter to 860 in this series itself......
Please respect the levels and trade....

SBI-------Love for bears???

SBI- Heading for 1800????????
Previous close 1989.
This counter has broken last and final support yesterday at 2025....
Any rise, sell this counter and take a stop loss of 2030...
Or alternatively concentrate on 2050 April put......
One negative trade will take this counter to 1800 in this month itself....

Cairn India

Cairn India:
Previous close 285.
Any rise, concentrate on May series 290 put and try to buy it around 10-12...........
You will be left with a full of 45- 50 days to prove your position.........
Expecting this counter to drift down in the coming month...............

Trade with patience........

Please wait for your turn..............
This I always mention. Nifty futures have now reached a probable supply zone......
but nothing confirming trades are coming the way......
Most of the big counters have reached their last and final support zones,
breaking which will create havoc in the market, 
at the same time chances of dead cat bounce is not ruled out...
Hence we are waiting for trades which makes some sense and gives us reason to trade...........

Icicibank

Icicibank : stop loss of 10 points. Cmp 998. Buy 1050 put. 
1008 stop loss in under lying.

BHEL

BHEL:
Previous close 178.
Expecting this counter to drift down to 150.
Buy and hold 190 put around 15 for this series

Kotak Bank

Kotak Bank:
Previous close 632.
Concentrate on 660 put.
Buy it below 33-35 levels...... 
Expecting this counter to crash to 590- 550 in the coming days.