January 23, 2013
- Google daily chart shows price making a Bullish Hammer pattern at lower bollinger band. Daily chart also has 50 Day SMA near the tail of the hammer.
- Weekly chart shows price in a range with Range top at 745.
- Range top also is the 78.6% Fib level from where the correction started as shown in the last chart. This level may continue to act as resistance.
- RIMM CHART UPDATE
- Price testing previous resistance level.
- Price also near 23.6% Fib level.
- If the above mentioned levels does not act as support price could test the lower Bollinger band as shown in the last chart.
- If price bounces here it should move back above 20 SMA to gain strength again.
- BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME