June 17, 2012

Microsoft weekend update

  • Daily MACD is looking good for bulls. Price closing the day above 50 day SMA will strengthen bulls further.
  • Weekly line chart shows price moving up towards 31 levels.
  • For bigger up moves price must sustain above 20 Week SMA 

BANK Nifty Weekend update

  • Price yet to make a clean breakout from the channel.
  • Price is testing 20 Week SMA. Bulls need a close above this line for confirming  a breakout.
  • Daily chart shows overbought stochastic But bears need price to fall below 50 day SMA for a meaningful correction. Bulls are safe above 50 day SMA.