November 12, 2013

  • CISCO Testing the daily cloud.
  • Price sustaining above 50 Day SMA. Next resistance at 100 Day SMA.
  • Price testing 38.2% Fib level. Moving above this level will extend the up move towards 100 
  • Weekly chart shows price trading below 23.6% Fib level. Daily chart too has fallen below the crucial 50 Day SMA.
  • Immediate support seen in weekly chart at 45.26 level. If price starts to trade below 45.26 then a fall to 20 Week SMA is possible. Strength for FB Bulls only if price is able to trade above the level shown in the 3rd chart.
  • SINA Corp Chart analysis

  • Reliance infrastructure shows weakness at the weekly resistance line and 100 Week SMA. Bears need a bearish weekly candle here to confirm weakness in higher time frames. Price sustaining below 434 levels on closing basis will strengthen bears of Reliance Infra.

  • SBI Daily chart shows price approaching crucial support zone. Price need to stay above the rising support line and 50 Day SMA on closing basis to avoid a bigger fall.
  • USDINR Weekend update
  • Daily chart of SINA Shows price holding above 100 Day SMA. But the Weekly chart looks Ugly for bulls with a Bearish Engulfing pattern at the top and a MACD Sell Signal. For the now the Oversold readings and 100 Day SMA in daily chart may give a trading bounce towards 50 Day SMA.
  • APPLE Chart update


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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