Friday, August 12, 2011
Thursday, August 11, 2011
Wednesday, August 10, 2011
Tuesday, August 9, 2011
BN, downtrending, continues to be in sell on rises & Hold mode till closes above LEma..
Watch the resisting "Trendline-Supply Line"...Prices-demand should outstrip that line-supply convincingly. If not, the slide will continue after a "Pause for 1 or 2 days".
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Short term (Hour TA) has reversed yesterday. A likely zigzag of (iv)th wave targets:
a: 9921 to 10424=503 points
b: 10424 to 10055=369 points(73%)
c: 10055 + 503 = 10558 (Coincides with 50%-61.8% retrace & the recent high-10482, weekly pivot @ 10523.)
Channel resistance comes around 10450.(ivth wave generally breaks the channel but do not sustain)
Monday, August 8, 2011
BN,after the opening drop if holds 10050, could bounce for short term.
With another low and holding above 10050, mild bounce is expected upto 10340(Earlier bottom) or higher. Every rise is a selling opportunity whenever the ST enters overbought zone.
Continue Reading...
Sunday, August 7, 2011
Technical Analysis of Stocks
Stock files are being updated and the links may be found at the top right corner of this blog.
As suggested last week - "More and more stocks are joining the Monthly downtrend mode", stocks have plummeted in line with technical readings and will continue to move down with periodic bounces. No bottoming formations are evident in week/ Month T/F. However, look for short term bottoming in Day for fine tuning which may take some days..
Continue Reading...
As suggested last week - "More and more stocks are joining the Monthly downtrend mode", stocks have plummeted in line with technical readings and will continue to move down with periodic bounces. No bottoming formations are evident in week/ Month T/F. However, look for short term bottoming in Day for fine tuning which may take some days..
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