November 3, 2010

Dow Jones Trend analysis

  • Dow Jones Trend analysis with Ichimoku Cloud.
  • The strength of the trend is clearly evident because not even a single dip touched the cloud.
  • So  weakness can be visible only if price comes in contact with the cloud.

S&P 500 futures before opening bell

  • If ES sustains above 1192.75 and trades above 1196.25 bulls will be in control today.
  • Falling below 1192.72 will be slightly negative for the bulls
  • Below 1192 the first support is at 1188.

Price volume breakout - ABG SHIPYARD LTD

  • Posting the chart to show the potential of a perfect price and volume breakout.
  • The breakout above 284 went till 490. 
  • From March this stock was in a sideways consolidation with low volumes.
  • From 27 september to 1st october this stock traded from a low of 238 to 250 with a volume of 0.979 million stocks getting traded in NSE.
  • Next week from that is from 4th October to 8th October  stock went from a low of 243 - to a high of 299 with 8.4 million stocks getting traded.
  • Weekly chart is showing major support at 380 levels and resistance at 590 levels. 

Nifty Futures Fibonacci levels

  • Nifty Futures hour chart with fibonacci levels
  • Futures is trading above 61.8% level
  • This up move has given two gaps as shown in the chart both of them stands unfilled. If we end this week above 6200 they will stay as runaway gaps.

Nifty daily analysis

  • NIFTY has stayed above the GAP that was created on monday.
  • The break of the down trend line is still valid. The support at 6071 is being respected by the index.
  • Bears will have their chance below 6071.
  • The momentum is not lost because the index stayed above 5 day high EMA.