Thursday, February 05, 2015

Broken 8706. Next Support @ 8617

Dear All,

>>> Nifty Hourly - As Posted Yesterday <<<

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


Wrote Yesterday, Trend line support may give some rally. But since the Moving Average cross gone on the negative side, every rise is a sell. See what happened today ?

>>> Nifty Hourly - Happened and Yet to <<<

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


A 100 Point rally today was vanished by bears once again. Price touched 50hma and broken down below 100 hma. Trend line broken, 100 HMA broken and price below 8706 support or 38.2% retrace. Next Support should be 8616 as shown on chart. Stay caution.

>>> BIOCON <<<

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


After a minor break out price, started moving down. Hope wave 4 completed at 403, if holds, good rally possible. But RSI and Price must give a break out once again. Lets wait and See. Cheers!!!