May 18, 2016

  • Crude oil daily time frame shows price approaching crucial resistance zone near 50 Levels. Presence of weekly cloud here may also give a chance for crude bears to come back.
  • One hour chart shows price in a trending move. Weakness if price starts to trade below hourly cloud.

  • Its been a long time since i posted analysis on individual stock. I was seeing the exit poll results of Tamil Nadu and the reaction of sun tv. Price near the month resistance line so thought of doing a post on this one.
  • SUN Tv had a big up move yesterday following the exit poll news which predicted a possible win for DMK. A Trader should take it as a reaction to rumour Once the real results are out bigger moves are possible. One look at the Month chart shows price near a crucial falling resistance line. If the News is good for SUN this resistance line is likely to be taken out for a move towards 500 Levels. If the News is bad then price may fall back to 300 Levels.
  • For today the resistance is at 436. If this levels is taken out then price will test the monthly resistance line.


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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