October 15, 2011

  • Immediate resistance levels for tata motors are 185 and the zone between 210 - 216 level.
  • Price is also closing in on month High EMA. A bigger rally is possible only once price manage to close above month high ema.
  • Weekly cloud and Month High EMA may act as resistance levels in the short term.
  • Crude oil hits the resistance line in daily chart.
  • If price shows weakness here without breaking above the trend line crude oil will start to fall.
  • Breakout from trend line will find it hard to cross 89 - 90 levels. 

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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