December 20, 2013

  • First chart shows weekly time frame with price breaking support levels. Price is nearing the next support level at 18.14 levels.
  • Second chart shows the Death cross in weekly chart. If the low at 18 Breaks on closing basis this Death cross can extend its gains. 
  • Monthly chart shows the next fib support level of 78.6% near 17.30 levels. If this level holds a bounce is likely to happen.
  • GOLD DEATH CROSS Of Weekly Chart

  • Crucial range for nifty is between 6129 - 6263. Closing beyond these levels may result in bigger moves.
  •  Chart 2 and 3 shows price testing crucial support line and 50 Day SMA. Breaking these levels will strengthen bears of Nifty.
  • GOLD DEATH CROSS Of Weekly Chart


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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