Wednesday, July 1, 2009

VOLATILE AND CHOPPY SESSION

today we saw highly volatile and choppy session swinging in both directions.
we broke today 34dma and upmoving trend line intraday but closed above both.
i have shown two channels in attched chart. one is upward. second is downward.
they will help us in judging mkt direction.downward channel will give strong resistance around 14800.
upward channel will give support around 14400.
tentative Head n Shoulder pattern was shown before few days back. i have shown neck line also in chart. that will give support at 14200.
 
AS MENTIONED EARLIER 14016 IS A FINAL STOP LOSS FOR ALL LONG POSIOTIONS.