Breakdown !!

Nifty

Nifty has failed to sustain above trend line resistance . Now it is likely to reach 5700 . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

Thought for the day

A well-developed sense of humor is the pole that adds balance to your steps as you walk the tightrope of life.

Updates on Nifty and LT

Nifty daily chart

Nifty has closed above trend line resistance for two consecutive days which is a bullish sign. Short term trend will remain positive as long as Nifty is above 5980.

Nifty weekly chart

Nifty has also breached trend line in weekly chart . There is every possibility that Nifty will reach 6200 provided Nifty sustains above trend line. 

LT

LT has been forming lower top lower bottom since many weeks . Now it has once again reached trend line resistance . If LT closes above this trend then further rally can be expected . 

Nifty medium term trend

 

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

 

Thought for the day

 

 Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive .

Technical updates on SBI

SBI daily chart

SBI is facing resistance at 50 DMA . There are possibilities of further fall in SBI. 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Technical updates on Nifty

Nifty daily chart

Nifty has continued to trade near important resistance . If it manages to break this trend line then only we can expect continuation of uptrend . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Technical updates on INR and Zinc

INR

INR has shown signs of recovery from last week . It is trading below the trend line support which means that there could be some more recovery in coming days .

Zinc

Similar to INR Zinc was unable to bounce back from support at Rs.119 so we are expecting further fall in Zinc . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	5924

Thought for the day

Coming together is a beginning. Keeping together is progress. Working together is success.