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 |
Tuesday, 17 September 2013
Monday, 16 September 2013
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 |
Thursday, 12 September 2013
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.
Wednesday, 11 September 2013
Technical updates on Nifty and Ambuja Cements
Nifty
Nifty has traded flat in today's trading session . But rally is not over yet it can reach 6000 in short term which could be the possible peak of this rally .
Ambuja Cement
Ambuja Cement has breached trend line resistance . Continuation of the rally is likely to happen.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 05-09-13 |
| Initiated at | 5592 |
| High Since Change | 5924 |
Thought for the day
Hammer breaks the glass but forges the steel .
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