April 23, 2010

NIFTY support and resistance

NIFTY SUPPORT AND RESISTANCE

NIFTY Triangle update

NIFTY TRIANGLE

  • NIFTY Triangle can give at least 40 points when it breaks out

NIFTY 5 minutes triangle break out

NIFTY 5 MINUTES
  • NIFTY triangle break out at 5292
  • minimum target of 5312
UPDATED CHART
  • NIFTY has not broken the bigger triangle yet.
  • keep a stop loss of 5291 for the small triangle break out.


    RELIANCE INDUSTRIES falling wedge pattern

    RELIANCE INDUSTRIES DAY CHART
    • RELIANCE INDUSTRIES is out of a falling wedge pattern.
    • stock closed off the highs. Keep stop loss of 1049 for longs
    • It may target 1150 resistance region again.