April 4, 2011

  • Apple Four hour chart is showing a triangle pattern.
  • Daily Time frame  is showing a trading range from 324  -  364.
  • Breakdown of triangle can bring stock to 324 and If it is a breakout we may see 364 levels again.
  • CRUDE OIL ABOVE RESISTANCE LINE
  • Crude Oil stands above the resistance line.
  • Crude has given a breakout from a consolidation pattern which looks like an ascending triangle.
  • If price continues to stay above 106.94 Crude price will push higher.
  • ES Four hour chart with the trend line.
  • Trend line is not yet violated. Weakness in price can be seen only if this trend line gets violated.
  • Break of trend line and 1324.50 may give good correction.
  • AT & T INC, PRICE AND VOLUME BREAKOUT

  • Bank nifty daily chart is showing weakness for the last two days.
  • In case the correction gets extended, Good supports exists between 11100 - 11150 band.
  • Correction was followed by a slight negative divergence in MACD indicator.
  • Effects of death cross still exists, If BN falls below 200 and 50 DMA again we may see a deeper correction.
  • PRICE AND VOLUME BREAKOUT - LIC HOUSING FIN

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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