Thursday, January 29, 2015

Resistance 9009. Get Ready to Sell

Dear All,

>>> Nifty - Hourly Chart <<<

>>> Click the chart to see on full screen <<<
Volatile session today due to Expiry. As per chart given above, 9009 is a good Resistance. Good chance to Sell near the Resistance for a Fall.

>>> Ashok LeyLand <<<

>>> Click the chart to see on full screen <<<
Earlier our Short hit Stop Loss - As per chart we updated on last weekly review. But today we shorted exactly near 69 and stock slide towards 65 and made a part profit at 66 for Rs.24000. So what happened really - was explained above on the chart. Yesterday break out on Price was washed away by today's engulfing pattern. RSI which makes a negative divergence so far also failed its minor break out. As per EW, it looks like 1-5 upmove got completed and if the price remains inside the channel for tomorrow also, then expect a big slide in coming days. Cheers!!!

Copper - Buy on Dips for a Relief Rally

Dear All,

>>> click the chart to see on full screen <<<

The fall was marked as 1-5 and Price on the last leg of 5th wave downside. RSI confirms the accumulation. Just keep buying on dips for a good rally. Cheers!!!