May 30, 2010

DOW JONES DAILY AND HOURLY VIEW

  • INVERTED HEAD AND SHOULDERS PATTERN IN THE HOURLY CHART IS YET TO SHOWS IT'S POTENTIAL.
  • THE DOWN SLOPING CHANNEL IS VIOLATED AND NOW DOW HAS AN ASCENDING TRIANGLE LIKE FORMATION TO BREAK OUT.
THANK YOU
APPLE RESISTANCE AND DIVERGENCE
  • APPLES RESISTANCE LINE SEEMS TO BE STRONG IN THE HOURLY CHART.
  • COMBINED WITH THE NEGATIVE DIVERGENCE THE STOCK MAY COME DOWN FROM THE CURRENT LEVELS IN THE COMING DAYS.
  • ONLY A STRONG MOVE ON THE UPSIDE AND A CLOSE ABOVE THE TREND LINE MENTIONED ON THE ABOVE CHART CAN BRING ABOUT A STRONG UPTREND.
THANK YOU
ORACLE CORPORATION WEEKLY AND DAILY

  • WEEKLY CHART OF ORACLE IS SHOWING A KIND OF RISING WEDGE. BUT THE CURRENT CORRECTION HAS MET WITH SUPPORT ON THE BOTTOM TREND LINE AROUND 22.
  • IF THE TREND LINE HOLDS A RALLY IS POSSIBLE TOWARDS 27.
  • THE 30 MINUTES CHART SHOWS A CHANNEL FORMATION WITH NEGATIVE DIVERGENCE. THE STOCK MAY FALL TO 22.00 AGAIN.

RENUKA SUGAR LTD DAILY CHART

  • RENUKA SUGARS LTD HAS GIVEN A BREAK OUT ABOVE 20 DAY MOVING AVERAGE
  • KEEP A STOP LOSS OF 52 FOR GOING LONG.
  • HAS MENTIONED LAST WEEK ABOUT RENUKA SUGARS POSITIVE DIVERGENCE LAST WEEK CLICK HERE TO VIEW THE POST.
THANK YOU

NIFTY DAILY CHART

  • NIFTY HAS MADE A REVERSAL FROM CHANNEL BOTTOM. MACD HAS NOT GIVEN A BUY YET. 
  • AS YOU CAN SEE THE LAST TWO TIMES WHEN NIFTY CAME CLOSE TO THE CHANNEL BOTTOM IT COMBINED WITH MACD CROSSOVER TO GIVE A GOOD REVERSAL
  • I AM EXPECTING IT TO HAPPEN AGAIN. BUT HAS RESISTANCE AROUND 5080. 
  • IT MAY GO DOWN A BIT FROM CURRENT LEVELS.
  • BUT THE CORRECTION FROM HERE MAY NOT BE TOO LARGE AND AN UP MOVE FOLLOWED BY THE BREAKING OF 5080 WILL TAKE NIFTY TO NEW HIGH'S.
THANK YOU
USD/JPY


  • THERE IS A TRIANGLE BREAK OUT AND IT LOOKS LIKE IT WILL TAKE OUT 94 AGAIN.
  • A 6 POINT MOVE FROM HERE IS WHAT I AM EXPECTING
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