by MalkansView on August 30, 2010
Shown below is the daily chart of MCX Silver. Note the following:
- The commodity had been trading in a sideways movement since May this year forming a rectangle between 28200 and 30000 levels;
- Last week it broke out of this sideways move with a big white candlestick and crossed the life-time-high of 30200;
- It has begun tagging the upper band of the Bollinger Bands which adds strength to the break-out;
- RSI, which was moving between 40 & 60 levels during the sideways trend, has moved above 60 indicating a range shift;
- The rectangle pattern will fail if it closes below 30000 on a weekly basis.
One can go long on Silver at CMP as well as on dips to 30000 with stop loss of 28800 for targets of 30800, 31500 & 32000.
MCX Silver Future – Daily
www.malkansview.com
by loke4300 on August 27, 2010
After being in bearish territory, ACC has finally turned bullish by piercing the 100WMA with good voumes. This stock has just entered the bullish territory with the potential to test previous highs. Stock becomes a good buy around 850 levels. time frame – 6months to a year.
by loke4300 on August 27, 2010
Both MACD and SS are showig bullish divergence. Besides, the stock has just seen one way correction, begging to be pulled back from these oversold levels. Therefore, reliance becomes a good swing trading candidate on the long side for around 7-10 days.
by MalkansView on August 23, 2010
Weekly chart of Kotak Mahindra Bank is appended below.
- The stock was under a long sideways move between 700 to 850 levels since October 09;
- The price has broken the resistance of 850 which also is 50% retracement level of the decline from January 08 to March 09;
- The stock has been trading at above average volumes since the last few weeks; [click to continue…]
