CALLS REVIEW

Hi,
Reviewing my earlier writeups.

ESCORTS:

Though stock has broken out of Ascending triangle, but volumes confirmation lacked yesterday, also it broke the RSI trend line, but as far as it holds 178 or 176 to be on more conservative side some good range expansion can be seen in coming days. New buying above 50 RSI would be safe to take long position.

IndiaBulls Real Estate:

IBREALEST gave awesome move yesterday around 7% intra. It has become now one of my favorite pick among the Real Estate pack. On daily chart it has shown some god reversal signs and also it has broken its falling channel. Breaking past 180 levels would be interesting to see.

NIFTY:

As mentioned last time volumes were lack luster as FIIs shunned from buying Nifty and same fashion continued yesterday, FIIs sold to the tune of 4 crores in Index Future. Though we can't jump into conclusion for shorting further, but one thing is clear without FIIs support our charts will be pathetic like this. On RSI as mentioned earlier, that once we reach 5270-80 zone RSI will be again overbought (last time it was over bought on 22nd of April, which is the reference peak for the earlier fall and a falling trend line started exactly from there.) Sort of same thing has happened this time also as we hit 74 reading this time and currently in the falling trendline of RSI, will be interesting to see how far we can hold this falling trendline in this stretch.

Hope you liked it.