April 23, 2010

NIFTY SUPPORT AND RESISTANCE
NIFTY TRIANGLE

  • NIFTY Triangle can give at least 40 points when it breaks out
NIFTY 5 MINUTES
  • NIFTY triangle break out at 5292
  • minimum target of 5312
UPDATED CHART
  • NIFTY has not broken the bigger triangle yet.
  • keep a stop loss of 5291 for the small triangle break out.


    RELIANCE INDUSTRIES DAY CHART
    • RELIANCE INDUSTRIES is out of a falling wedge pattern.
    • stock closed off the highs. Keep stop loss of 1049 for longs
    • It may target 1150 resistance region again.

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    My Favourite Quote

    "All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
    —Jesse Livermore