MAGIC OF FIBO LEVELS IN NIFTY HOURLY CHART

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NIFTY HOURLY CHART

• Nifty hourly chart shows pressure coming at the 61.8% levels in hourly chart.
• Those who use fibo levels with technical analysis will find it easier to enter and exit trades.

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NIFTY HOURLY CHART CHANNEL AND TRIANGLE

NIFTY HOUR CHANNEL AND TRIANGLE

• NIFTY IS STILL STUCK IN THE HOURLY TRIANGLE. SHOULD TRADE ABOVE 5040 FIRMLY FOR THE UPTREND TO CONTINUE.
• AS EXPECTED EARLIER THE 2ND ATTEMPT OUT OF THE CHANNEL WAS SUCCESSFULL.

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TECHNICAL ANALYSIS FOR NIFTY 27-05-2008

NIFTY DAILY CHART

• NIFTY HAS TURNED UP STRONGLY ALONG WITH DOW AND S&P
• NOW IT LOOKS LIKE IT IS SAFE TO PLAY LONG IN NIFTY TILL 5152 MINIMUM WERE THE NEXT RESISTANCE BAND OF 5152 - 5195 COMES.
• DOW AND S&P HAS GIVEN A BREAK OUT FROM INVERTED HEAD AND SHOULDERS I HAVE UPDATED THE CHARTS IN THIS BLOG.

THANK YOU

NEW BREAK OUT STOCK LMNR - LIMONEIRA

I MADE A MISTAKE IN THE VOLUME ANALYSIS PLEASE DON'T CONSIDER THIS POST. I THANK TICKER STREET FOR POINTING OUT THE MISTAKE. THE VOLUME BAR WAS 12K AND NOT 12M AS I THOUGHT. THIS MISTAKE WILL NOT HAPPEN AGAIN. I SAY SORRY TO MY READERS.

LMNR

• LMNR HAD A BREAK OUT TODAY WITH GOOD VOLUME INCREASE
• STAYING ABOVE $17 WILL ATTEMPT TO HIGHER IN THE COMING DAYS
• AFTER 18 IT WILL GO TO 20 WERE THE FIRST RESISTANCE COMES. THEN IT CAN GO TO 26.

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RUSSELL 2000 INDEX TAKES A NEW DIRECTION

RUSSELL 2000 INDEX HOURLY CHART

• THE INDEX HAS MADE A TURN AROUND IN THE HOURLY CHART.
• A CLOSE ABOVE 675 WILL CONFIRM THIS IN THE COMING DAY'S

THANK YOU

S & P 500 TRIANGLE IN THE HOURLY CHART

TRIANGLE 

• THE BREAK OUT ABOVE 1100 CAN BRING ANOTHER 40 POINTS. SO TARGET FOR BREAK OUT WILL BE 1140 WITH A STOP LOSS OF 1095.
• THE BREAK DOWN BELOW 1090 MEANS WE WILL GO TO 1050 AGAIN. PLAY THIS SCENARIO WITH A STOP LOSS OF 1095.

CAUTION: TRIANGLES GIVE FALSE DIRECTION SOMETIMES. BUT THIS TIME WE HAVE AN INVERTED HEAD AND SHOULDERS TO ASSIST US.

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S & P 500 INVERTED HEAD AND SHOULDERS BREAK OUT

S & P 500 INVERTED HEAD AND SHOULDERS

• THE INDEX HAS GIVEN AN INVERTED HEAD AND SHOULDERS BREAK OUT.
• THE PLACE OF BREAK OUT 1090 WILL BECOME SUPPORT NOW.
• KEEP A STOP LOSS 1085 TO GO LONG
• INDEX MIGHT TAKE A SIDE WAY'S PAUSE FOR A SHORT TIME BEFORE GOING  UP AGAIN

THANK YOU