May 10, 2010

IFCI DAILY CHART
  • IFCI daily is in triangle
  • breaking the down side line will be negative But will get support from the trendline.
  • Look for buying opportunities above 54 if the break out happens with good volume.
thank you

NIFTY DAILY
  • NIFTY has reversed 4980 region. And with global market support tomorrow it may trade above 5280 region.
  • Closing above 5280 will be positive and if that happens we may see 5400 before settlement during this month.
thank you
UPDATED CHART
  • RELIANCE NAT. RESOURCES has formed a bearish engulfing.
  • There is huge increase in volume.
  • But the stock is very oversold and quite close to the support area of 65.

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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