June 26, 2015

  • Crude oil month trying to form a bottom. Week is in a range. Bulls need price to do an upper breakout from the range to confirm the bottom formation. Week continues to stay above the weekly cloud which is acting as crucial support level. range breakdown and close below the cloud may help bears to come back.

  • Bank nifty moving up from the weekly cloud. Bulls need to close the day above 100 SMA and the resistance line to extend this up move.18700 and 18900 levels are possible resistance zones.


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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