CLICK ON IMAGE TO ENLARGE Nifty after taking support at 4906 today made an intra day high of 5016.It has keep it head above 5MA at 4984 but in the process broke the Channel in which it was trading. Now Scenario which is emerging is it can break the today’s low and can take support… Read More »
SBIN has Resistance at 2222 amd 2255 Trend line and channel break out around 2100 So buy on dips RSI at 96.5 so stock is waiting for correction.
Trend line Breakout with volumes. MACD and RSI giving buying Signals Target: 395 420 sl 370 Century Textile buy above 514 target 524 530 sl 480 Buy Axis Bank above 930 tgt 950 990
Nifty continue its upward journey and scaled 5k Mark which was an elusive level from 28 May 2008.FII are on buying spree from past 2 sessions Is this the moment of irrational exuberance which is again visible in the Indies.Small Caps and Mid caps running like there is no tomorrow.Well this is a liquidity fueled… Read More »
Resistance @ 4980-5000Support @ 4920 4880 4840 Negative Divergence observed that RSI Can fall till trend line which is around 4720
Tata Steel can see 502 levels and if gets broken can see 460 levels Indicators are overbought and looks ripe for a meltdown. Will correct 5-7% in a single session if 502 breaks
1. Thou shall not attempt to Time the Market. Market Timing – Don’t try to guess it. To the little investor, markettiming is like a random walk (that is, every movement, up or down, ofthe market almost every minute of every day, is like a unpredictable/chance event). Most people only recognize the correct direction afterit… Read More »
Nifty has formed a Tri-star doji at the TOP over last 3 days, same was also observed at 6000 TOP of Jan 2008.. Bearish Doji Tri-Star: Indicate the end of a uptrend and beginning of downtrend. The requirements is that it should be formed after a significant uptrend. This pattern indicates stop of the prior… Read More »
‘Throw-over’ from rising wedge pattern is not happening since past two sessions. Is this an indication that ‘throw-over’ isfailed? In such a case, Nifty is at its weakest point. Already from medium-term point, we are in a ‘5th wave failure’pattern. Weekly Technically Weekly Pivot 4800Weekly Resistance:4859 4890 4924 Weekly Support:4795 4761 4730
From the desk of David Rosenberg this morning: 1. This remains a hope-based rally (with strong technicals). I say that because during this six-month 50%+ rally in the S&P 500, the U.S. economy has shed 2.4 million jobs, which is almost as many as we lost during the entire 2001-02 tech wreck — in just… Read More »