Mkts trading sideways with trading range 2700 and 2780.Crossover above 2780 will impart bullishness and markets
will encounter resistance at the falling trendline.
Below 2700, expect weakness and a possible retest of 2500.
November 28, 2008
28-11-08-2008
This is for education purpose only and may not be useful for trading
Mkts trading sideways with trading range 2700 and 2780.
Crossover above 2780 will impart bullishness and markets
will encounter resistance at the falling trendline.
Below 2700, expect weakness and a possible retest of 2500.
Mkts trading sideways with trading range 2700 and 2780.Crossover above 2780 will impart bullishness and markets
will encounter resistance at the falling trendline.
Below 2700, expect weakness and a possible retest of 2500.
November 26, 2008
26-11-2008
This is for education purpose only and may not be useful for trading
Yesterday "On intraday charts, mkts have stopped almost near yesterday's low... take this as an intermediate support and a trend deciding level for tomorrow."
This level (2640 spot) held very well and did not break despite the choppiness.
Since markets are now trading sideways, there shd be one DOWN leg pending lasting for
1 or 2 days. I don't expect this to be severe and it may not even come to 2500.
November 25, 2008
251108
This is for education purpose only and may not be useful for trading
Gap up opening and close near yesterday's low.
If the recent correction upto 80% was over (b wave), then the current rally c wave appears to have stalled. If this is indeed a c wave failure, the consequences can be bad.
Nevertheless, it makes sense to see how markets pan. The trading range is big - 2500 on the lower side to 2800 on the upside.
On intraday charts, mkts have stopped almost near yesterday's low...take this as an intermediate support and a trend deciding level for tomorrow.
November 24, 2008
241108
This is for education purpose only and may not be useful for trading
A day of consolidation... 
Above 2740, hourly charts will give a buy. Immediate resistance 2800.
The 5 minute charts have already given a buy but here signals are high.
On EOD charts, breakout would mean breakout above falling trendline.
This can impart strength upto 2950-3000 in next few days.
Support: 2600.
Above 2740, hourly charts will give a buy. Immediate resistance 2800.
The 5 minute charts have already given a buy but here signals are high.
On EOD charts, breakout would mean breakout above falling trendline.
This can impart strength upto 2950-3000 in next few days.
Support: 2600.
November 23, 2008
EOD Chart211108
This is for education purpose only and may not be useful for trading
Morning star "bullish pattern"...we did not have a gap up but mkts didclose strongly in the positive.
A post in the forum was made on this.
Outlook: expect uptrend to continue subject to supports shown in the charts.
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