I SHARES RUSSEL 2000 INDEX Channel

I SHARES RUSSEL 2000 INDEX WEEKLY CHART

I SHARES RUSSEL 2000 INDEX DAILY CHART

• THE Index is moving up in an upward moving channel.
• A close below 64 will break the channel. Staying above 64 the channel is valid and will move up to 74 in the coming weeks.
• Keep 62 as stop loss for a long trade.
• Daily chart shows the index closing above its 200 day moving average. 
• Trading above 64 will lead to upside targets of 70 and 74.

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CITIGROUP INC (C+F) bullish reversal formation

CITIGROUP DAILY CHART

• DAILY Chart is showing a BULLISH ENGULFING Candlestick pattern
• Stock has managed to close above 200 SMA.
• There is good positive divergence in MACD.
• Immediate resistance at 21.60 Trading above that the stock will move to 23.

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NIFTY HOUR in a triangle formation

UPDATED CHART

NIFTY HOUR

• NIFTY hour has formed a triangle.
• The trend line is holding for now. If it breaks nifty may go below 4900 again.
• But if the triangle breaks on the upside(5030). We will go to 5080.

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TATA MOTORS in channel

TATA MOTORS

• TATA MOTORS channel may present a long opportunity if it holds the channel bottom.
• Keep 665 as strict stop loss and go long. One can rise the stop loss a bit to the channel bottom line itself.
• A move at least till the middle of the channel can be expected.
• Stochastic has come to the oversold zone. as you can see in this screen the last 3 times the stochastic entered this oversold zone it has given a good bounce.
• One can also see a large deviation from the 20 SMA. So the price need to come back to the SMA before taking the next direction.(NOT A THUMB RULE BUT HAS SEEN IT HAPPEN BEFORE).  
• CAUTION: REMEMBER YOUR STOP LOSS THE CHANNEL BOTTOM LINE.

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RENUKA SUGARS LTD positive divergence.

RENUKA SUGARS LTD DAILY CHART

• Renuka sugars Ltd has been showing divergence for quite some time now. 
• But no one knows when it will show its effect. So we have to go by the price action.
• There was one break out above the 20 SMA which did not last. 
• And with so much positive divergence the next break out may give a good long trade.

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