March 27, 2013

  • Weekly chart shows a possible triangle pattern.
  • Daily chart shows price above 50 Day SMA and moving towards the resistance line.
  • Last chart shows price testing 78.6% Fib level. Triangle resistance line is positioned between 78.6% Fib level and the swing High.




  • Bank of america correction in daily chart followed by negative divergence.
  • The fall will gain momentum if price starts to trade below 20 Day SMA and 38.2% Fib level.


  • Daily chart sustaining below 20 SMA Will favor bears of Google. Price is seeking support at 23.6% Fib level.
  • Weekly chart is showing huge negative divergence which should give a bigger correction. closing below 801 levels may give bigger falls for Google bears.


  • ES Falling from resistance zone shown in 4 Hour time frame.
  • Rising support line and 100 Period SMA will keep the bulls interested.
  • Last chart shows possible Fib support levels.


  • SBI Daily chart shows a Head and Shoulders pattern with TWO left shoulders. So price may take support at the current level for forming another right shoulder to complete the pattern.
  • Price is also testing crucial weekly support line from 1571 level.
  • Weekly chart also shows price at Ichimoku cloud. Week must close above the cloud to avoid a bigger fall.
  • LARSEN & TOUBRO CHART ANALYSIS
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  • Move out of the diamond pattern continues to face resistance at higher levels.
  • Price is also getting strong support at 100 period SMA. 
  • Any one of these levels has to break convincingly for a bigger direction to happen.
  • BLACKBERRY CHART ANALYSIS
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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