August 17, 2010

UPDATED CHART - 2
UPDATED CHART

  • Dow Jones Futures chart is moving up steadily.
  • Price is approaching the resistance area of 10360.
  • If the index manages to trade above 10360 it will be an important reversal.
TRIANGLE BREAKS OUT
UPDATED CHART(18th AUG)
  • AT&T Inc is trading in a triangle in its 30 minutes chart.
  • This stock has been in a sideways consolidation for more than a year now. And the stock is trading near the upper end of the consolidation.

  • Nifty has broken an important support line in 15 minutes chart. If nifty closes below the support line it will test the recent lows.
  • Nifty slowly but surely is going down. Its slow grinding move may pick up speed after trapping the remaining bulls.
UPDATED CHART
UPDATED CHART
  • Nifty has broken out of the triangle.
  • But The expected upward momentum is lacking. 
  • If nifty goes up from here it will find resistance at 5443 level. above 5443 the next target is 5460

  • Nifty is showing Triangle pattern in its 5 minutes chart 
  • The breakout or breakdown may give direction for the next 50 points in nifty.
  • Beware of false breakouts since it is a triangle
  • NIFTY DAILY CHART ANALYSIS
  • Nifty's direction may be decided within one or two day's
  • Nifty has closed below 20 DMA. The 50 DMA is also approaching the consolidation area.
  • So a breakout or breakdown is imminent. 
  • DLF LIMITED TRADING NEAR 200 DMA
  • DLF LIMITED is trading close to support and resistance lines.
  • The stock is trading near its 200 DMA.
  • So a breakout from this area will result in stock pulling away from the 200 DMA. 
  • One can take a trade towards the breakout area. Wait for a clear breakout don't assume to which side the stock will breakout that's were traders loose money. Enter after the stock breaks out with the breakout point as stop loss.
  • LIVE INTRADAY CHART FOR DLF LTD

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All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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"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