Daily Line Chart
Daily Candle Chart
Half Hourly Chart
- Huge bearish candle on high volumes decisively breaking the uptrendline from July lows.
- Support taken at 61.8% retracement level of rise from 4538 to 5310.
- Support taken on red dashed trendline on daily candle chart, which has been good support since November 2009.
- The 10 and 50 dema join the bearish alignment bandwagon.
- Daily oscillators have reached oversold levels but no sign of recovering.
- Half hourly oscillators have turned up from oversold zone and given positive divergence.
Fibo resistances on the way up are at 4945-5016-5073-5131.
Supports on further fall is at 4806 --previous low made on 27th November 2009, 4639-200dema, November 2009 low- 4538 .
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
9 comments:
Excellent analysis.
chanakya
looks like you are here only to criticise. So you dont follow the blog on a daily basis . If you had then you would know that if you had followed properly your hedged longs would have come out with good profits. please refer post for 25th January. Stop dirtying the sanctity of this blog
rani
Chanakya,
Don't understand man.. Y u r behaving(writing) like this? if u don't understand her writings, please feel free to ask her or contact thro her forum what is TA... hope u r not understanding properly the charts..
Please don't visit if u don't like this blog, it's not MUST that u hv to visit here.
Regards
PS : Name is good..atleast if u can't be like "Chanakya" but pleaseeeee try to be a good man
rani,sujatha thanks for your comments.
chanakya thanks for your comments too. It helped me recognise my die hard fans
Mr. Chanakya,
It looks like you have no clue what trading is. If someone could forsee the future then life would be extremely boring. May be you never heard "its not the destination, its the journey" that matters.
Those who look for recommendations/calls are in my veiw "sheeple" because they are "people who just know to follow the herd". Can't apply brains may be because they don't have one!
The analysis presented here is more elaborate than any technical analysis Guru that comes on TV and misleads people like you. So even if you had an iota of respect for the knowledge of a person you wouldn't speak like this.
So do yourself a favor - get yourself a book that describes technical analysis, hedging, longs, shorts ... and understand the meaning. And then come back to read the blog - may be it will start the process of trasformation from sheep to a human being!
After that you can start dreaming of becoming a trader.
-Girish
thanks for ur comments Girish
Guilty Conscious pricks the Mind!!
I have not commented on anything bad abt any analysis... but lo!! Pounce they all! hehehe...
Only hard fact that is stated is>>
"painting all possibilities is one thing and acting on only one of them another!!"
thats the truth which needs to be learnt by many bloggers... and blog readers need to be less irritated and hostile!
Rest in Peace friends! Cool :)
funny chanakya. i find your comments funny. anyway, will not publish anymore comments on this topic.topic closed
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