Wednesday, August 05, 2015

Above 8565. But Still On Danger Zone. Caution Advised.

Dear All,

>>> Nifty Hourly Chart <<<

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

Nifty crossed 8565, But still Price unable to hold or move above the channel line as shown on chart - Shows the weakness. RSI - Not moving along with Price - shows the -ve Divergence. Still Nifty on Danger Zone, Caution advised.

>>> Bank Nifty Hourly Chart <<<

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

RSI - made a warning signal - Broken down. Price unable to hold above 19000 and resisted on the channel - As shown on chart. Again Caution advised.

>>> ARVIND - As Posted on 03rd Aug, 2015 <<<

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

Posted on 03rd Aug - Wrote - Fall likely. See what happened.

>>> ARVIND - Happened <<<

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

RSI - If breaks the Trend line - More fall likely.

>>> LICHSGFIN <<<

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

We had short position and LICHSGFIN - More fall likely. Cheers!!!

Support Taken @ 50 HMA - 8449 - Resistance @ 8565

Dear All,

>>> Nifty Hourly Chart <<<

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

Pattern looks like an Head and Shoulder. Price should break on either side like 8565 or 8449 to decide any trend. Lets wait and see.