Tuesday, February 26, 2013

Broken All Suppport

Dear All,

>click the chart to see on full screen<

Nifty broken support 5820 and unlike I assumed it started 'C' Wave downside earlier. 5738-40 is 100% retrace of Wave 'A', if gets broken then 5675 and 5595 should be the next Target.

I too hit a 30 Pts Stop Loss in Nifty today and some Longs in Stock too Hit Stop Loss.

>PANTALOON-R<

>click the chart to see on full screen<
Pantaloon-R touched a high of 275 when FDI in Retail Bill was passed in Parliament. Then after Stock started loosing its lime light and slowly started melting down. Today broken the important Channel Support and nearing the 100dma shows the seriousness and Bear strength in the stock.
If 100dma broken then another round of selling may happen. A fall near to Rs.50 may not be ruled out. Caution advised...