Nifty Entering SuperBull Phase ??

On the Nifty Weekly charts, the intermediate (weekly) TO  has crossed over the long (monthly) TO. This would result in alignment of  the two TO in bullish mode after a long time.

With strong momentum on the short (daily) TO  all the three are positively aligned, which may result in an impulsive move on Nifty in coming days.
 

Nifty Weekly

 
We had discussed the possibility of such a move unfolding in our post dated June 10, 2016 :
Nifty Bull Run to Continue !!

CNXIT Poor Run Will Continue !!

Lackluster performance by Indian IT stocks over the last 15 months. A long way to go before things look up again !!

CNXIT will continue the under performance which started in June, much before the Q1 results of IT bigwigs.

Tata Motors & BREXIT

One of the major Indian stock whose fortunes are directly affected by BREXIT is   Tata Motors which owns  Jaguar Land Rover (JLR).  The stock  saw a collapse on the news of Britain exiting the EU, falling  from Rs. 490 to a low of Rs. 422 on the news and recovered to Rs.440.

The immediate impact of the event on Jaguar Land Rover' (JLR) financial is unknown but it is estimated that by  2020 JLR is likely to incur a loss of  1 billion Pound due to Britain's exit from the EU. The hit is likely to com from a 10 per cent levy on vehicles being exported to Europe and 4 per cent on imports of components for the production of vehicles.

Technically, Tata Motors is riding an intermediate uptrend, having broken above Rs. 420 with a large volume, after  making a double bottom at Rs. 295 earlier. The  stock took support at at Rs. 420 on BREXIT news and has been currently trading above it.

The intermediate TO on TTO is placed above zero, with Synchronized Bullish Alignment (SBA), which indicate that once the short term correction is over, the stock is all set to move to higher levels and may touch Rs. 550-560.

In the unlikely event of the stock failing to hold Rs. 420, it may fall back in the range 295-420 for a prolonged period.

Tata Motors Weekly