April 10, 2011

  • AAPL Daily chart is showing a Triangle shaped consolidation pattern. Break from this pattern can give good direction.
  • Weekly line chart shows the Long term up move of the Stock For Now The area between 326 - 329 may act as support zone. Break of the above mentioned level will push the stock down to the weekly trend line. Triangle giving an upside breakout may give new high's for the stock.
  • First chart shows Resistance level for bank nifty in daily chart which is 11900 level.
  • Next chart shows the range of in which Bank Nifty is trading which is 11540 - 11900. Break from this range will give good direction.
  • 3rd Chart shows MACD in daily time frame Which may give a sell signal. But in Week time frame MACD is looking Positive for Bulls.
  • Weekly candle looks like a Shooting star, Candle has come near the 50 % Fib level too. So this candle may give bearish Price action.
  • Weekly chart of Praj Industries Ltd is moving in a descending channel pattern.
  • Price has hit the first resistance line shown in weekly chart. It may get resisted here and start moving down from here. Breakout from the First resistance line can take this stock to the Next resistance line at 89 - 90 level.
  • Getting resisted here means a correction towards 63 level approximately.
  • EURUSD Daily chart has given a breakout.
  • Weekly chart too is above the resistance line.
  • If stays above the daily breakout area this pair may target 1.47 to 1.48 level.


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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