May 4, 2010



  • NIFTY descending triangle broken at 5200
  • immediate target for nifty should be 5130 and 5090.
  • Short covering from oversold levels only possible if the global cues improve.
thank you
DOW JONES DAILY



  • DOW JONES broken the support at 11000
  • 11000 will act as a resistance now.
thank you
ACC DAILY CHART
  • ACC moving up in a channel 
  • trading close to the lower part of the channel. 
  • 880 region is crucial a break and close below this means break of the channel line.
  • as long as it hods the channel bottom line as support more high's are possible in the coming weeks. 
ULTRATECH CEMENT DAILY CHART - 1
ULTRATECH CEMENT DAILY CHART - 2
  • ULTRATECH CEMNT shows the effect of head and shoulders at the market top.
  • for traders it might give a good short term trading opportunity. 
  • The stock might get support around 920 rupees 
  • the support also coincides with an important trend line.
  • One can buy the trend line as stop loss.
  • when buying one should be very careful as the stock is in free fall for the las 4 days.
take care
thank you


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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