- Russell 2000 is trading near an important support line which comes at 587.
- This can also act as the neck line of a head and shoulders pattern.
- If the support line breaks and the pattern is not busted, a large correction may follow.
- If the index gets support at 587 short term may turn bullish.
- LIVE INTRADAY CHART FOR RUSSELL 2000 WITH EMA
August 25, 2010
CHART - II
CHART - I
- Nifty 15 minutes chart is trading in a channel.
- Price has been consolidating and breaking down support levels staying within the channel.
- Now it is doing another consolidation and may give direction before end of day today.
- Break of the trend line and break of 5463 can speed up this correction
- INTRADAY LIVE CHART FOR NIFTY
- Nifty started its correction yesterday. The index closed above 5 day low ema.
- Nifty is still trading above 20 SMA.
- Nifty briefly broke 5500 yesterday and closed above it.
- U.S markets has corrected overnight so Nifty may give a gap down opening today. S&P 500 ANALYSIS AFTER CLOSING BELL
- Sterlite industries broke its crucial support of 159 yesterday and went down till 150 during intraday trading.
- 150 level is very important now. Break of 150 could lead to another correction.
- CLICK HERE TO SEE THE LEVELS GIVEN FOR STERLITE INDUSTRIES
- S&P 500 closed 15.49 points or -1.45% Down.
- On its way down The index has broken many important supports.
- Price is moving away from 200 DMA and 50 DMA.
- 1050 is an important support for tomorrow. If 1050 breaks the correction may be deeper.