Thursday, May 30, 2013

USDJPY Daily 30 May 2013

This is USDJPY daily chart. A Rising Wedge /Ending diagonal formation(A Reversal Pattern which is usually witnesses after a long bull run.) is witnessed on USDJPY daily chart . A break with volume below 100.80 may take it to 100 level a minor support zone for it . Below 100 mark watch real panic up to 97-96 level & there after 92 level. Currently it is trading at 101.06 .

Friday, May 24, 2013

NIfty Weekly Chart 24.05.2013

This is Nifty Weekly chart . A classic example of Support & Resistance .In above chart upper trend line tends to act as support from 2009 to 2011 & there after act as resistance from 2011 to till now .
An engulfing Candle ,Class example of negative divergence in RSI (as highlighted) indicating a bear market is about to start in coming weeks which  may test 5480 as initial tgt n a lower trend line (red color) taking support from 2008 low to recent swing low of 5480 in 2013, as its first support zone , break below this level may start next leg of downside.............

Reliance Head N Shoulder Formation Daily Chart


This is Reliance Industries Head n Shoulder Formation on daily chart , move below 760 with volume may led it towards 660/570 levels in coming weeks.... Bears would have upper hand  ...........

Friday, May 17, 2013

Ncdex Jeera June contract 17 may 2013

This is Ncdex Jeera Daily chart . Above 13400 watch blast in jeera in hours only ..... Initial tgt 13900/14300 , Above 14300 watch boom boom in Jeera..................

Dhaniya June contract big move on upside 17 May 2013

This is Ncdex dhaniya daily Chart .Currently trading near 7000 level expect it test 8000 levels in coming weeks................ n above 8000 if able to sustain then watch unexpected levels...............Soon

CPO JUNE CONTRACT CLASSIC INVERTED H & S.

This is CPO Daily Chart for June contract . A break above 475 level on closing basis may target it toward 495/510 level in short term. One can witness a Classic  Inverted H&S formation in it