March 27, 2012

  • Price is near the support line of the descending triangle which may result in a bounce.
  • For the bounce 5250 and 20 Day SMA will be resistance levels. Another hit at the resistance line will make a good descending triangle.
  • Week MACD looks good for bears but price refuses to close below 50 Week SMA.
  • India VIX is near the resistance line. If VIX starts to correct we may see a decent bounce in Nifty.
  • S&P 500 EOD UPDATE

1 comment:

  1. would like to see the VIX movement on daily chart.



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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."
—Jesse Livermore