January 7, 2013

  • First chart shows price testing the breakout from a BIG Triangle pattern.
  • Strength for ACC only if it is able to trade above 1440 - 1445 levels on daily closing basis.
  • Weakness if price starts to trade inside the pattern.
  • Crucial support is the Blue line shown in the second chart.

  • TCS daily chart has broken above a resistance line.
  • Price is testing 100 Day SMA and cloud top. Sustaining above these two levels can take TCS towards 1325 and 1348.
  • Unable to clear 100 SMA on closing basis will favor TCS Bears.


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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