Dow jones weekly fibonacci levels

• Dow jones was resisted at the 61.8% retracement level of the fall from 14000 to 6400.
• If 9800 does not hold chances are this fall may stretch till 9400 this is the 38.2% retracement level of the same fall.
• The only savior of the bulls may be the FALLING WEDGE IN DAILY CHART CLICK HERE TO SEE THE FALLING WEDGE IN DOW JONES

TATA STEEL daily chart analysis

• The first chart shows tata steel breaking down from an upward moving channel.
• Came down from 700 levels to 470 levels.
• The stock is trading close to a trend line.
• It is showing positive divergence although there is no price confirmation of a reversal yet.
• The stock has to break the trend line and close above the 20 day moving average for a short term buying opportunity.
• CLICK HERE TO SEE NIFTY DAILY CHART ANALYSIS
  
  

RENUKA SUGARS Ltd Approaching Cloud resistance

• After closing above the 20 day moving average renuka sugars has made a good up move.
• Now it is approaching the ichi cloud resistance 
• Any more upsides is possible only if the stock can close above the cloud successfully
• CLICK HERE TO SEE MY RECENT POST ON RENUKA SUGARS
  

FALSE BREAKOUTS OF BANK NIFTY

• Bank nifty has given two false break outs in daily chart.
• The previous two triangles which broke on the down side ended up as false break outs.
• The current break out has happened on the upside so will this be a false one as well. Looking at the global markets situation it may en up as another false break out.
• CLICK HERE TO SEE NIFTY WEEKLY ANALYSIS