- Triangle formation of Russell 2000 15 minutes chart.
- A break and close above 663 can give a good move on the upside.
- If the index breaks the lower support line it may give a good selling opportunity. The fall will be deeper if 655 breaks.
- RECTANGLE PATTERN OF S&P 500
August 4, 2010
- S&P 500 is trading in a rectangle sideways consolidation pattern
- Break out of this range can give a good trade on either direction.
- I am expecting a continuation of the up trend to continue.
- We had a similar trade today in nifty click the below link to see it.
- RECTANGLE BREAKOUT TRADE OF NIFTY
- Dow Jones futures 4 hour chart seems to be breaking out from a consolidation pattern.
- Closing above 10622 should be positive because this should give a new high for the index on closing basis in 4 hour chart.
- This level can end up as a resistance point for the index as well.
- ACC daily chart with 200 DMA is shown in the first chart.
- The stock has given good returns for 200 DMA followers.
- Now the stock is trading below the 200 DMA and the sell will be confirmed when the big triangle in daily chart breaks on the down side.
- Since it is a triangle both trades are possible. If triangle breaks on the upside then price should also break the 200 DMA for going long.
- Nifty futures daily chart with trading range which can give clear direction.
- First chart is showing a small triangle like pattern. If a break out or break down happens the ranges has to be broken with good volume.
- On the down side a break of 5367 should give the warning for the bulls it will be confirmed if 5348 breaks.
- On the upside a break of 5457 should be the level for going long. And the bulls will be safer above 5473.
- All levels mentioned are in nifty futures
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