Tata Moters Positional call for 8 months target 1985

TATA MOTERS is forming a Bull Flag pattern Formation, where its at the lower end of the channel. it has completed the D wave and is showing a sign of entering in wave E and its expected to give a breakout above 1280 confirmation of the uptrend to continue. Stochastic are also trading in over sold zone and is giving a positive intersection where some bounce is expected. immediate resistance at 1130 and 1280, once both the resistance is crossed sharp upsdei move can be expected.
Difference of the Pole which started from 670 testing the level of 1375 and on crossover of 1280 will confirm the higher target.

BHEL bottom out @ 1900

Bhel is showing sign of bottom out at 1880 to 1900 level, in market 2011 also it rebounded from 1900 and prior in 2009 June July also it has made double bottom at 1900.
this indicates sharp upside rally is expected.
on higher side immediately target comes to 2000 to 2200, and sustain above 2200 will move to test 2500 in near term. CMP is 1930 can start accumulating.

Chart attached

Buy June 5800 call @ 13 stop loss not required with the target of 45 - 80 - 130
Buy June 5900 call @ 5 stop not required tgt 30 - 60 - 90

Buy July 5800 Call @ 47 stop @ 30 tgt 80 - 130 - 170

Energy Update

Crude June Sell @ 4565 stop @ 4585 tgt 4540 - 4510 - 4470

Natural Gas June Sell @ 206.7 stop @ 208 tgt 204 - 202

Bullions Update

Gold June Sell @ 22450 Stop @ 22480 tgt 22420 - 22390 - 22350

Silver July Sell @ 57500 Stop @ 57750 tgt 57200 - 56900 below 56900 sustain trading free fall till 56200

Nifty Long term chart fifth wave tgt 7780

Nifty Long term chart
Not expected to trade below 5150 and will move upside with some minor correction on the wave will test 7780

Reliance outlook short term

Reliance: Support: 1015 – 940 – 895 Pivot: 1060 Resistances: 1133 – 1176 – 1255

Reliance Buy above 1110 Stop @ 1045 Targets @ 1200 – 1320 – 1440

Reliance looking at the weekly chart in the end of 2008 and starting of the 2009, it has shown the Symmetrical pattern formation and have started from point A of 495 and have tested the higher level of 752 where the difference of both points comes to 257 and after the break out above the trend line at 682 have expected to test 940 on higher side, but if we look at 161.8 % rise of the difference it comes to 415 adding the same bring to the target of 1097 which it tested and have been in the consolidation phase. On the higher side it tested the level of 1190 and has been in the side way move in the range from point D of 1190 on higher side and taking support of point C at 858, again forming the similar pattern of Symmetrical Triangle Formation. Currently it’s just below the trend line resistance of 1100 and 1110 and if sustain trading is seen above the higher level of 1110 will given the confirmation of the Triangle pattern breakout. The Difference if calculate comes to point D of 1190 and lower level support of point D of 858 which is 332 points. Adding the same from the breakout point of 1110 indicates the higher level of 1440 on higher side. Stochastic and the RSI which have been moving positive and is moving towards the over bought zone where further uptrend is expected in near term. First resistance is the high crossing at 1120. Second resistance is the high crossing of 1250. First support is the low crossing of 1070. Second support is the low at 1040.