August 25, 2010

Russell 2000 near support area

  • Russell 2000 is trading near an important support line which comes at 587.
  • This can also act as the neck line of a head and shoulders pattern.
  • If the support line breaks and the pattern is not busted, a large correction may follow.
  • If the index gets support at 587 short term may turn bullish.
  • LIVE  INTRADAY CHART FOR RUSSELL 2000 WITH EMA

Apple breaks the triangle

  • Apples looks weak in its weekly chart, break of 235 can bring it down to 231 levels.
  • Oversold levels can give intraday bounce but for a positional trader weekly triangle break down can give lower targets than this.
  • FREE LIVE CHART FOR APPLE INC

Dow Jones futures before opening bell

  • Dow Jones futures has violated both 10031 and 9969.
  • Trading below 9969 the next target is 9852.
  • Futures are indicating a negative opening for the major indices.

Nifty 15 minutes chart intraday update

CHART - II
CHART - I

  • Nifty 15 minutes chart is trading in a channel.
  • Price has been consolidating and breaking down support levels staying within the channel.
  • Now it is doing another consolidation and may give direction before end of day today.
  • Break of the trend line and break of 5463 can speed up this correction
  • INTRADAY LIVE CHART FOR NIFTY

Nifty Trading near support zone

  • Nifty is trading near 50 hour moving average.
  • Index is also trading near an important trend line in daily chart.
  • One can try a low risk buy here with a small stop loss.
  • INTRADAY LIVE CHART FOR NIFTY

Nifty daily analysis

  • Nifty started its correction yesterday. The index closed above 5 day low ema.
  • Nifty is still trading above 20 SMA. 
  • Nifty briefly broke 5500 yesterday and closed above it. 
  • U.S markets has corrected overnight so Nifty may give a gap down opening today.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

Sterlite Industries Technical view

  • Sterlite industries broke its crucial support of 159 yesterday and went down till 150 during intraday trading.
  • 150 level is very important now. Break of 150 could lead to another correction.
  • CLICK HERE TO SEE THE LEVELS GIVEN FOR STERLITE INDUSTRIES

S&P 500 Analysis after closing bell

  • S&P 500 closed 15.49 points or -1.45% Down.
  • On its way down The index has broken many important supports. 
  • Price is moving away from 200 DMA and 50 DMA. 
  • 1050 is an important support  for tomorrow. If 1050 breaks the correction may be deeper.