LIVE Market Technicals with CK Narayan

If you care to look at technical charts before taking investment/trading decisions in the stock market, this is the place you should be visiting regularly. CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!

Will RIL rally falter?
There is a strong rally underway in Reliance today. But 60 mins chart of Reliance shows that prices are into the cloud and the Lagging line is into the prices. The T-K lines have not crossed positive yet. So, this chart warns against getting over excited about Reliance at this juncture. Day traders having profits should book some.

Cadila: Can bulls gather more strength?
Strong trends are visible on Cadila chart ahead of the results tomorrow. A big build up is seen at the 400 CE strike. Crossing of that level could create some short covering pressure. Two additional aspects are shown in the chart (source Neotrader). The top area shows a Pivot cluster using intra day/multiday/multiweek perspective and this is around Rs 407-408. The bottom panel shows a Momentum Meter for the three time frames. Here we can see that the intra day and multi day are already into over bought area and the multi week time frame is also heading higher. Collectively, these are indicating that there are high expectations built into the stock ahead of the results. Hence, longs should be protected with stops. And profits can be taken around the Rs 405-410 area if reached.


Nice bounce at support for SBI Card
As can be seen in the chart, the prices are bouncing up from a good well-tested support trendline. Prices seem to be in a channel of a kind. The RSI indicator also is showing a positive reversal signal during the recent dip. Collectively, this signals an intent to rise higher and one can consider buying with a stop loss at Rs 745 for a run towards Rs 800.