Renuka Sugars ltd negative divergence

• Renuka sugars ltd gave a good short trade after the negative divergence in hourly chart
CLICK HERE TO SEE THE NEGATIVE DIVERGENCE IN RENUKA SUGARS LAST WEEK

Nifty GAP analysis in hourly chart

• NIFTY has closed the gap that was created on friday.
• I was expecting to see an ISLAND REVERSAL. But in yahoo page the opening is shown at 5132 so the gap stands filled. I have to recheck this again.
• But the main thing is that we have one more gap that's not filled and that is at 4800 levels. If global markets remain week through out this week nifty may try to fill that gap as well.
• CLICK HERE TO SEE GAP ANALYSIS DONE LAST WEEK
  

Nifty has broken the rising wedge

• Nifty has broken the rising wedge
• Sustaining below 5000 will head lower.
CLICH HERE TO SEE THE RISING WEDGE FORMATION LAST WEEK

Reliance industries can give a good move

• Reliance industries is trading near the ascending triangles bottom trend line.
• If the trend line gives support it can give a good up move.
• If it breaks a large correction can be expected. But my personal view is that having given support so many times this trend line will again save reliance industries. 
• So one can play long with a stop loss just below the trend line.
• CLICH HERE TO SEE NIFTY WEEKEND ANALYSIS
  

USD / CAD Falling wedge breaks out

• We had several false moves in currency markets recently.
• At least this one has given a good move after break out
• CLICK HERE AND SEE HOW THE CHART LOOKED LIKE WHEN THE PATTERN WAS FORMED
  

Bank Nifty can give a large move

• Bank nifty week chart shows price is consolidating in between two trend lines.
• MACD has made a lower high while the index making a higher high.
• Breaking the lower trend line can bring about a big correction.
• CLICK HERE TO SEE HOW BANK NIFTY GIVES FALSE BREAK OUTS IN LINE CHART(DAILY TIME FRAME)
  

Dow jones weekly fibonacci levels

• Dow jones was resisted at the 61.8% retracement level of the fall from 14000 to 6400.
• If 9800 does not hold chances are this fall may stretch till 9400 this is the 38.2% retracement level of the same fall.
• The only savior of the bulls may be the FALLING WEDGE IN DAILY CHART CLICK HERE TO SEE THE FALLING WEDGE IN DOW JONES