December 19, 2010

WEEKLY CHART OF DELL
DAILY CHART
  • Dell weekly and daily chart is showing consolidation patterns that can give good trading opportunities.
  • Week chart is showing a bullish continuation pattern.
  • Price in daily chart is trading below its 50 DMA. Price if gives a breakout above the resistance line will give a chance to go long. Price closing above 50 DMA will favor bulls.
  • Support is seen at 13.22 Break of this level will be negative and will favor bears.
  • NFLX WEEKEND UPDATE

WEEKLY CHART
DAILY CHART
  • Weekly Chart on closing basis may give support for bank nifty.
  • Daily chart shows resistance at 11652 area. Closing above this level will give some strength for the bulls.
  • But 20 DMA and 50 DMA may act as resistance level on its way up.
  • TATA MOTORS CHART ANALYSIS

  • Daily chart shows the stock trending up above the 50 DMA. Stock had a dip below 50 DMA which lasted for a short time. So unless 50 DMA breaks convincingly this stock will remain in an uptrend.
  • Weekly chart shows price converging between resistance and support lines. Pattern is showing more upsides for the stock. Larger corrections can be expected only if the trend line gets broken. For now price is respecting the trend line which is good for the bulls of tata motors.
  • Breakout above1382 will continue this never ending uptrend.

Disclaimer

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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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