August 27, 2011

  • MSFT daily chart is looking good for bulls.
  • Price if closes above 20 SMA will give a long trade.
  • Price is moving up from the support line in weekly chart.
  • A long trade towards the resistance line in weekly chart possible.
  • GOLD MOVING UP AGAIN
  • Last two charts the monthly Bollinger band and the weekly parallel lines shows nifty close to the end of this fall.
  • Recent low of 4796 was broken and price came down till 4720 levels. If price manage to stay above 4796 again we may see an up move in nifty.
  • But the problem for nifty is the Large cap stocks which are making new yearly lows. So Stocks like reliance, sbi, Tata motors and Tata steel should make a bottom for nifty to do a decent bounce.
  • Below 4700 price may move towards 4660 levels. Nifty has the parallel line support Near 4660 level. 
  • GOLD MOVING UP AGAIN
  • BANK NIFTY WEEKEND UPDATE
  • Gold has started to move up again.
  • Recent fall of gold took support at 1702 level.
  • Now price is back above 1800 levels.
  • Closing above 1814 will give good momentum for the bulls of gold again.
  • GOLD TAKES SUPPORT

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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