December 14, 2013

  • Cisco weekly chart closed below 200 Week SMA and 50% Fib level. Next support level at 19.98 and golden ratio.
  • Weekly close below 19.98 level may extend the fall towards the rising support line of a weekly broadening pattern.

  • Daily chart is approaching crucial support levels like 23.6% Fib level and 50 Day SMA.
  • Daily chart With MACD shows price correction after negative divergence. Weekly indicators too is starting to turn down with Negative price action.
  • So if price starts to trade below 50 Day SMA, Bigger correction is possible.
  • RELIANCE INFRA Weekly Resistance line


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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