August 4, 2010

Triangle of Russell 2000

  • Triangle formation of Russell 2000 15 minutes chart.
  • A break and close above 663 can give a good move on the upside.
  • If the index breaks the lower support line it may give a good selling opportunity. The fall will be deeper if 655 breaks.

S&P 500 rectangle consolidation pattern


  • S&P 500 is trading in a rectangle sideways consolidation pattern
  • Break out of this range can give a good trade on either direction.
  • I am expecting a continuation of the up trend to continue.
  • We had a similar trade today in nifty click the below link to see it.

Dow Futures before opening bell

  • Dow Jones futures 4 hour chart seems to be breaking out from a consolidation pattern.
  • Closing above 10622 should be positive because this should give a new high for the index on closing basis in 4 hour chart.
  • This level can end up as a resistance point for the index as well.



  • Nifty has been trading in a range from yesterday making a rectangle pattern.
  • Range is from 5426 - 5453. any move above or below this range can give a 25-30 points.

ACC Triangle and the 200 DMA

  • ACC daily chart with 200 DMA is shown in the first chart.
  • The stock has given good returns for 200 DMA followers.
  • Now the stock is trading below the 200 DMA and the sell will be confirmed when the big triangle in daily chart breaks on the down side.
  • Since it is a triangle both trades are possible.  If triangle breaks on the upside then price should also break the 200 DMA for going long.

Nifty trading levels for the day

  • Nifty futures daily chart with trading range which can give clear direction.
  • First chart is showing a small triangle like pattern. If a break out or break down happens the ranges has to be broken with good volume.
  • On the down side a break of 5367 should give the warning for the bulls it will be confirmed if 5348 breaks.
  • On the upside a break of 5457 should be the level for going long. And the bulls will be safer above 5473.
  • All levels mentioned are in nifty futures

S&P 500 support and resistance lines

  • S&P 500 support and resistance line s in hourly chart
  • Break out on either side could give good direction for the next trade. 
  • I am expecting a continuation of the current trend to happen.