January 19, 2012
- CISCO Weekly chart shows an up move with decreasing volume.
- Price is approaching 100 Week SMA. Weekly chart is closer to the cloud top. These two levels may act as resistance.
- If the resistance levels mentioned does not stop the up move Cisco may target the 50% Fibonacci level.
- COPPER DAILY CHART ANALYSIS
- BANK NIFTY Week and Daily chart shows price near resistance levels. Day and week closing above these levels will give some more points for bank nifty.
- The last chart shows that the up move will be limited. As RSI has reached the very overbought region, RSI is yet to turn down. When it starts to turn down we may see negative price action.