November 14, 2010

WEEKLY CHART OF GOOGLE
  • Google Daily chart shows break of 20 day moving average.
  • Stock has resistance at 630 levels. Weekly chart is showing a reversal from resistance area. This reversal may be an attempt to fade the GAP in daily chart.
  • Week chart is showing Support at 579 area.
  • RUSSELL 2000 WEEKEND UPDATE
  • DOW JONES WEEKEND UPDATE
DAILY CHART WITH AN ASCENDING CHANNEL
DAILY CHART WITH 20 DMA AND SUPPORT LINE
 
  • Russell 2000 in daily chart is in a channel formation. Last weeks correction happened inside the channel. Price hasn't violated the support line of the channel yet.
  • Main support for the index is at 714 levels. Price is yet to close below the 20 DMA 
  • DOW JONES WEEKEND UPDATE
  • US DOLLAR WEEKEND UPDATE

  •  Main support for nifty is between 5930 - 5940.
  • Price is approaching its 50 Day moving average. This MA may give support for the index but the problems is the momentum of the price.
  • Breaking 5930 will give fresh lows for nifty. We might see 5850 - 5900 level initially.
  • If 5930 - 5940 le or the 50 DMA give support we may see a reversal.
  • DOW JONES WEEKEND UPDATE

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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