The charts of Asian equity markets are extremely constructive across the board

Some Asian indexes have already experienced major upside breakouts. Other indexes and ETFs are on the verge of upside breakouts of historic magnitude.

A pictorial review of Asian index futures and ETFs is in order, without comment.

Multibagger Idea !

In infrastructure companies in india the worst is over and the only direction it can go is up. GMR Infra has made more than 2 years bottom. And given breakout on weekly chart with formation of 16 months Head & Shoulders - Bottom pattern. Trade long with stop loss of 23 for target of 33 and 45. (CMP 25.75)

SESA Double Top

It has breakdown of 6 months Double Top and 5 months Wedge patterns. Trade short, if close below 168  with stop loss range of 188 to 178 for target of 145 to 135.

HDFC Ltd.

HDFC complete it consolidation. It is on the verge of a breakout, of 6 months Rectangle and Head & Shoulders Bottom patterns. Trade long, if close above 860 with stop loss range of 830 to 850 for target range of 930 to 960.

Cipla Ltd.

This chart is the classic example of big patterns are launch with the formation of  small patterns. Cipla is in a 13 months rectangle pattern, between 426 to 364. And 8 month Head and Shoulders Top with neckline at 378. It has close to consecutive weeks below 378. Trade short if close below 364 with stop loss of 378 for target of 300. 

GAIL

It has form 13 months Head and Shoulders bottom. Friday close above Neckline of 356 as confirmed the pattern. In daily chart the right shoulder is 3 months Ascending Triangle. Trade long for target of 395 to 430.

Reliance

The daily chart of Reliance Industries ltd. is forming a textbook H&S Top pattern. Note the symmetry between the two shoulders in both duration and depth. A decisive close below 836 would complete this pattern and establish an initial downside target of 800 to 765. 

Indian Rupee begins new period of depreciation against US Dollar

The longest term chart shows that the Rupee has been in an historical trend of depreciation against the USD. The Rupee is coiling within a 5-months Descending triangle on the daily chart. The daily chart shows that the jump today has resolved a 5-month trading range. If this move in the USDINR holds, it will prove to be the blast off in the next phase of Rupee depreciation. Very possibly a target to 64 to 65.75.

ACC Double Top

ACC has Breakdown of classic textbook Double Top pattern after 5 months of consolidation. Trade short with stop loss of 1040 for target of 880 in coming months.

Nifty TOP

The Daily chart of Nifty is forming a textbook H&S Top pattern. Note the symmetry between the two shoulders in both duration and depth. If this analysis is correct, Nifty may have already established a right shoulder top. A decisive close below 6130 would complete this pattern and establish an initial downside target of 5920. 

NMDC Ltd.

It has given breakout of 10 weeks Ascending Triangle pattern. Trade long with stop loss of 140 for target of 165.

Tata Motors

More than two years rising Wedge has given false breakout and now again it is in the pattern. Trade short with stop loss of 380 for target of 310.

New uptrend in Pharma Sector

RANBAXY has given 10 months Head & Shoulders breakout. Trade long with stop loss of 457 for target of 570.

SUN Pharma has given breakout of 12 weeks descending wedge pattern. Trade long with stop loss of 565 for target of 645. 

Kotak Mahindra Bank

Entire Banking Sector stocks has given downward breakout of there short term bearish pattern. KMB has breakdown of 8 weeks Head & Shoulders top. Trade short with stop loss of 732 for target of 675.