March 3, 2011

  • MSFT Daily chart is near its 200 day moving average.
  • Stock took support at its 200 dma, But an up move will be possible only if stock manages to break above the resistance line shown in the 2nd chart.
  • Breaking below the 200 dma will favor bears of MSFT.

1 comment:

  1. The Nifty Index in last trading session ended almost flat above its 5500 mark at 5536.20.
    On the derivatives front we have seen that the Nifty Futures prices ended flat along with
    an overall addition of open interest but witnessed decline in the cost of carry, this is an
    indication of some shorts being built at higher levels. On the options front the OI PCR is
    at 1.32 vs. 1.38 whereas the Volume PCR is at 1.01 vs. 1.08. On the volatility front the
    Indian Volatility Index (VIX) ended at 22.96 gaining 3.33% indicating some choppiness.

    Source - Nifty Future tips



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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."
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