Thursday, May 16, 2013

Resistance 6187 & 6194

Dear All,

>Click the chart to see on full screen<

Another Choppy and volatile market, raises concern and hard to decide the levels too. Ongoing last leg of 5th wave staying above the middle line as shown on chart should be taken care. 6187 (today high) and 6194 remains as a resistance, cross above can bring 6247 on screen. Many stocks are tiered, though they are making extensions along with nifty. If any bad news emerges, looks like it may trigger a big sell off.

>>> Voltas <<<
>Click the chart to see on full screen<

Voltas broken down from the raising wedge, forming a H&S pattern. If the base line gets broken, no doubt stock should fall under selling pressure.

>>> Titan <<<
>Click the chart to see on full screen<

Titan Industries looks weak if breaks below the support line as marked on chart. Lets see.