August 5, 2013

 
  • Apple week testing upper bollinger band 
  • Daily chart testing 470 levels which has acted as resistance before as shown in 2nd chart.
  • Last chart shows price above  23.6% Fib level. weakness only if price starts to trade below this level.



  • Immediate resistance levels for blackberry in Four hour and one hour chart.



 
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  • Nifty line chart shows price nearing crucial up trend line.
  • Weekly fib levels shows price moving towards 38.2% Fib level which has acted as crucial support resistance level in the past
  • 2nd chart shows price contraction in a triangle like pattern. This chart shows immediate support line which has to be held to avoid further falls. Down trend looks strong and the chances of this line taking support looks slim as of now.


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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