January 7, 2013

ACC Triangle patterns

  • First chart shows price testing the breakout from a BIG Triangle pattern.
  • Strength for ACC only if it is able to trade above 1440 - 1445 levels on daily closing basis.
  • Weakness if price starts to trade inside the pattern.
  • Crucial support is the Blue line shown in the second chart.

TCS Chart update

  • TCS daily chart has broken above a resistance line.
  • Price is testing 100 Day SMA and cloud top. Sustaining above these two levels can take TCS towards 1325 and 1348.
  • Unable to clear 100 SMA on closing basis will favor TCS Bears.