<![CDATA[StocksMarket | Metals | Investment | Trading - Opinion by Neha Gupta]]>Thu, 03 Mar 2016 15:03:58 +0530Weebly<![CDATA[Dow Jones Industrial Average (DJIA) in a renewed up-move]]>Sat, 04 Jan 2014 17:20:45 GMThttp://www.marketlok.com/opinion-by-neha-gupta/dow-jones-industrial-average-djia-in-a-renewed-up-move
Dow Jones Industrial Average (DJIA) $DJIA
The Dow Jones Industrial Average (DJIA) recently broke through resistances that had held the index in a sideways zone for nearly 6 months, from May 2013 to November 2013. As predicted, on the break of resistance at 15655, the index has renewed its previous trend & is now at 16500.

The old support & resistance points/zones are marked in the chart above, you can click on the following link to read the older post on the DJIA - http://www.marketlok.com/4/post/2013/10/djia-index-the-government-shutdown-blues.html

Lookin at the present, as mentioned earlier the DJIA has renewed it's previous up-trend & has already moved up over 900 points. The index is holding support levels very well as of now & has shown very large momentum. This is expected as the 6 month sideways zone on the index has acted as a propulsion zone.

Supports for the index are at 16196, 15704, 15530 & 15396. The support levels at 16916 & 15704 are strong, some price action around these price pints will not do any damage to the index in the medium to long term. The support levels at 15530 & 15396 form a support zone, which is very strong & hence important. Any breach of this zone will end the prospects of the up-move continuing & might push the index into a sideways zone or even into a down trend, which looks very unlikely as of now. Resistance will be seen at 16690, 16958.5 & 17300. These are also the next immediate targets for the index.

The index has surpassed all performance expectations so far. The sideways zone from May to November 2013 has only made the trend stronger. The DJIA is still very bullish & will remain bullish as long as it holds important support levels, which are - 15530-15386 as of now.
<![CDATA[Silver (inr) facing resistance & at weak support levels]]>Fri, 20 Dec 2013 11:47:57 GMThttp://www.marketlok.com/opinion-by-neha-gupta/silver-inr-facing-resistance-at-weak-support-levels
Silver inr 1 Kg 1 Month
Silver INR has been struggling to turn bullish since the end of 2011 after a making a life-time high around 73000. It has since made three attempts to rally up & failed repeatedly.

Most recently the precious metal has attempted to rally, from a small base, in July 2013. This rally began at the break of 44500 which was an important resistance in the previous down-trend. Prices immediately rose vertically towards it's major resistance at 62108, but before hitting the resistance price point Silver lost ground. The commodity quickly retreated and also broke important support at 50200, hence signalling an exit & a failure of the rally. The exit was further confirmed twice again, at the break of 47500 & 45800.

The commodity has since slipped further & is at very weak support levels. Resistance for Silver (inr) are at 45373, 48410 & 59504. All three are strong resistances & major resistance lies at 59504. Support levels are at 40650 & 39365, both these levels are minor support levels & breaching these we will see the commodity slip further lower.

Silver was only able to form a minor base, the last time it attempted to rally, in July 2013. Any new attempt to rally will have to be backed up with a larger & stronger base, which it might make possible if prices hold at the present levels. Moving above & holding 45373 will be critical for this base formation for the commodity & then and only then will it be able to make a genuine effort to rally up towards higher resistances. Else we might see the precious metal slip further lower.
<![CDATA[Will XEROX (XRX) move out of it's sideways zone?]]>Wed, 13 Nov 2013 15:15:53 GMThttp://www.marketlok.com/opinion-by-neha-gupta/will-xerox-xrx-move-out-of-its-sideways-zone
XEROX (XRX) started it's up-move in January 2013 at the breach of an important pivot at 7.5. The stock is now at 10.7, with a recent high at 11.15. Returns amount to over 40% from the entry price mentioned previously. Life-time high for the stock is around 64 which was formed way back in 1999.

A general question asked is will this up move take the stock up to it's life-time highs? That's a question better answered with smaller targets & by carefully watching the stock for important pivots over the long term. As of now the stock has taken a break from the up-move, the indication of the break came at the end of August 2013 as market on the chart. Since then we've so far seen sideways action in the stock for 3 to 4 months & more recently some volatile price action too. The original indication for this sideways zone came at the break of $9.82, now the price point has moved slightly to 9.95. This will be an important support that the stock will have to remain above in order to stabilize and continue the up-move. Further supports for the stock are at 9.64, 8.27 & 8.11. The support at 9.64 is strong for the stock & breaking this will put the future of the stock in jeopardy but that does not mean that the stock will turn bearish but it might end up being sideways to volatile for a long while. But below this the support zone at 8.27 to 8.11 is very critical & breaching this will mean that the stock will enter a bear market.

The stock is showing strong resistance at 11.15 which is also the recent high for the stock. Resistance above this price level will be seen at 12.1 & 20.35.

So far the stock is taking a break from it's recent up-move & has turned a little volatile recently but it does not seem to be weakening yet. Forming a strong base here might result in a continued up trend in the stock in the near future. 9.64 will be a critical support level to watch for in the stock at present.
<![CDATA[Electronic Arts (EA) strong & in a consolidation at support]]>Wed, 30 Oct 2013 14:10:21 GMThttp://www.marketlok.com/opinion-by-neha-gupta/electronic-arts-ea-strong-in-a-consolidation-at-support
Electronic Arts Inc. - Daily Chart
After bottoming out in 2012 & rallying for over a year Electronic Arts (EA) has recently seen a 25% dip from it's recent top. In the past EA went through two rallies, the first ended with a life-time high at around 70 followed by a 6 year bear market on the stock which ended in 2011. The second rally began & ended in the same year 2011, this was a very reluctant up-move which ended with very little returns. Now the recent up-move which began around September 2012 is not so reluctant. So far it has been smooth & strong, with frequent consolidation action with strong continuation patterns.

The stock has so far shown cash returns of around 100% i.e. from $14 to a high of $28. The consolidation that's happening right now is a little larger than the recent few, as the up-move has also been larger than the last few up-swings. Supports for EA are seen at 23.9/23.5 & below that at 20/19.5. The support zone from 23.9-23.5 should hold until the end of October in-order to be a significant support level, else the stock might break right through that. But if the support zone holds, also on a price movement basis, then this price level will be very important to watch. The lower support zone from 20-19.5 is the strongest lower support for the stock & the stock will have to hold this in the medium-term in-order to stay bullish in the long run.

The stock is seeing some resistance at 27.5, crossing which in the short to medium term will push the stock above it's recent high of 28, hence gaining further higher targets & heading for better returns of the long-term.
<![CDATA[Bullish on SalesForce.com (CRM)]]>Mon, 28 Oct 2013 17:01:47 GMThttp://www.marketlok.com/opinion-by-neha-gupta/bullish-on-salesforcecom-crm
SalesForce.com Daily Chart
SalesForce.com (CRM) saw a life-time high in March 2013. The high around $180 came almost two years after the rally had truly ended & the new life-time high was not really something to invest into. The stock remained investment worthy until the mid of 2011 when it made a high of 160 & then topped off hence signalling an exit in August 2011. Since then the stock has been in a constant struggle to reach new highs & has consistently met resistance at higher levels as indicated in the weekly chart.

More recently, just after the new life-time high, the stock was split. This brings to light a new opportunity in the stock, as the stock has signaled a base formation & more recently an investment entry. The stock has signaled an entry at the break of 46.5 which was an important resistance point. It has since then moved up to a recent close above 56.

Support for the stock is at $50, breaking this will end the present trend for the stock, hence it is an important price point to keep track of as of now. Below this the stock does not really have any strong support as of now but 36, 25 & 17 will be support zones, that might develop in the future.

The stock will see strong resistance at 64, 96 & 128.5. The resistance mentioned will also act as target levels. The stock will face a major test around $100 & it will be important for the stock to cross over & hold this level significantly. Any significant reversals from $100 will place the rally in a jeopardy.

SalesForce.com does look very good at present from an investment perspective with a large support at 50.
SalesForce.com Weekly Chart
<![CDATA[Power Grid still pressured]]>Fri, 25 Oct 2013 17:46:24 GMThttp://www.marketlok.com/opinion-by-neha-gupta/power-grid-still-pressured
Power Grid topped off in September 2012 & has since dropped about 40% from it's 2012 high of 124. A large portion of the price drop had come recently in August 2013, within a weeks trading.

The stock at present has not gone through any base formation patterns yet, neither does it have an extended base from which it can turn stably bullish. A recent 10% up-swing in price has raised interest in the stock. The present up-move, is so far just an intermediate trend, that might not sustain unless some major pivots are gained & maintained.

Support for the stock price is seen at 96 which is mid-level support. Breaking 96 will not be good news for investors holding the stock & the stock does not show any good support below this.

Resistances are mainly & seen at 103, 105, 109 & 111.5. The resistance at 103 is minor but important, whereas the other resistances are very strong & will be difficult for the stock to move over. The resistances at 109 & 111.5 form a very strong resistance zone & the stock will have to move over this zone to show promise in the long run.

Power Grid Corp of India is not seen to be bullish at present & does not show any technical stability or promise for the near future. We do not see it to be an investors stock as of now.
<![CDATA[Rockwell Collins (COL) technically very stable]]>Thu, 24 Oct 2013 16:14:31 GMThttp://www.marketlok.com/opinion-by-neha-gupta/rockwell-collins-col-technically-very-stable
Rockwell Collins (COL) Daily Candlestick Chart
Rockwell Collins (COL) bottomed out in July 2012 and has considerably moved up since then with over 60% & returns in just over 1 year. The stock in all of it's previous bull rally's has shown very clean patterns & had moved up with very little surprises & this time it's no different.

The stock is still looking very strong & holding pivots well, despite a run-up of over 60%. Support levels for the stock are at 70, 67.5, 65.75 & 61. The support levels at 70 & 67.5 are minor supports & they would be useful for swing traders or day traders whereas the support level at 65.75 is a major pivot. Breaching 65.75 would place the stock is an extremely unsure zone with a lower support at 61. Below 65.75 the stock could be sideways to volatile for a while. But as of now 61 is the most important support to look at and at the breach of 61 the stock will turn bearish & end the present up-trend.

Moving up-wards the resistance level of the stock is at 72.6 immediately, which might be a minor resistance & we do see the stock moving above this in the short term. Above 72.6, we see the stock hitting targets of 80, 85, 90 & 100 dollars, these target levels will also act as resistance levels where the stock might see some short to medium term sideways action.

Rockwell Collins (COL) is technically very stable & has so far given very good returns. We see the stock moving up from here to much higher levels as long as the bullish structure of the stock holds well & so far it has.
<![CDATA[Infosys 4 months into the new up-move]]>Mon, 21 Oct 2013 17:22:07 GMThttp://www.marketlok.com/opinion-by-neha-gupta/infosys-4-months-into-the-new-up-move
Infosys Daily Chart
Infosys Weekly Chart - Click to enlarge
Infosys Weekly Chart
Infosys has been on an up-move since the beginning of July 2013. This up-move began after a long 9-month period of extreme unsure & volatile price action. In this 4 month old up-move the stock has moved up over 35% & recently moved to a new three week high. In this up-move the stock has seen consistent gaps & has shown strength in the price points gained.

Support levels for the stock are at 3165, 2991 & 2700. The support at 3165 is a minor support that should help the stock hold present levels on a short term basis, 2991 however is a stronger support and more specifically the stop-loss for the stock. Breaching 2991 would not be a healthy sign for the stock & the stock might turn a little unstable & sideways. Below this a major support lies at 2700, this is a very important support to watch for especially for very long term investors as breaching 2700 would signal a bear market in the stock.

Resistance levels for the stock are at 3422 & 3833. Both these price points will also be the next price targets for the stock. The stock has almost fulfilled 3422 & is expected to further move towards 3833 very soon.

Even though the stock had experienced large sideways action the last time it attempted to go bullish including large volatile price action, as indicated in the weekly chart above, but so far the stocks technical outlook seems stable and very bullish. The support at 2991 would be very critical for medium term to long term investors in the stock & on holding this price point we might see the stock move up towards much higher levels.
<![CDATA[USDINR is still holding support zone. It is getting ready for a new up move?]]>Fri, 18 Oct 2013 12:46:25 GMThttp://www.marketlok.com/opinion-by-neha-gupta/usdinr-is-still-holding-support-zone-it-is-getting-ready-for-a-new-up-move
US Dollar & Indian Rupee USDINR Chart
We looked at the Forex pair USDINR about a month ago in this video - http://www.youtube.com/watch?v=fdxg32iyu8o & we spoke of the recent up-trend, where it began & the support zones to look out for.

Since then we've seen the pair in a low volume sideways/stagnant phase, during which it touched exactly one of the support levels that we'd indicated in our previous video at 62.15. The older support zone, indicated above & also mentioned in the previous video, held well & has since changed. The new support zone for the Forex pair lies from 60.8 to 58.1. The reason this is a zone is because there are a number of important support variables that we see in this area. Resistances lie at 62.15, 64.85, 65.1 & a major resistance at 69.13.

We expect to see a bounce from the present levels as the new support zone, mentioned above and marked on the chart also above, is expected to hold very well. If the pair enters into this new support zone or breaches it traders/investors should thin our their positions or even exit the pair as it will turn bearish. As of now we still see the pair to be bullish i.e. the US Dollar to gain over the Indian Rupee.
<![CDATA[DJIA Index & the Government Shutdown Blues]]>Wed, 16 Oct 2013 17:20:47 GMThttp://www.marketlok.com/opinion-by-neha-gupta/djia-index-the-government-shutdown-blues
We had looked at the possibility of the DJIA topping off in our recent video here - http://www.youtube.com/watch?v=d5fXv-cUvOI

The DJIA has been holding critical supports that we had discussed and is still showing steam despite the Government shutdown blues in the USA. Supports and resistances have shifted since we last discussed the index. The new important support zone on the DJIA is at 14800-14722.5, this is a zone and breaking this would be critical to the health of the index and for the health of the overall American markets.

The index has recently taken support above 15285, which will turn into a stronger support, once held significantly. A stronger resistance lies at 15655 close to the recent high on the DJIA. Minor resistances are at 16818 & 15480.

The DJIA index is still in the same bull run that it entered at the beginning of February 2013, as part of a larger bull market that began in 2009. But the index has seen very little performance since June 2013 and has entered a sideways zone. A break above this sideways zone i.e. a break through the resistance at 15655 significantly would propel the DJIA further forward or else we might see it weakening more, specially if the lower support zone ranging from 14800-14722.5 is broken.