Please find the correct levels for nifty The Nifty Levels for 28th October 2009 are First Resistance = 4924 First Support =4798 Second Resistance =5007 Second Support =4755 Breakout above = 5050 Break down Below = 4672 The above levels are for intraday only For Sure Shot pack and good Gains in Nifty Please visit Nifty Live Charts.com … [Read more...]
Triple Bottom (Reversal)
The triple bottom is a reversal pattern made up of three equal lows followed by a breakout above resistance. While this pattern can form over just a few months, it is usually a long-term pattern that covers many months.it is a pattern used in technical analysis to predict the reversal of a prolonged downtrend. The pattern is identified when the price of an asset creates three … [Read more...]
Triple Top (Reversal):concept
The triple top is a reversal pattern made up of three equal highs followed by a break below support. A pattern used in technical analysis to predict the reversal of a prolonged uptrend. This pattern is identified when the price of an asset creates three peaks at nearly the same price level. The bounce off the resistance near the third peak is a clear indication that buying … [Read more...]
Trend Lines
Technical analysis is built on the assumption that prices trend. Trend Lines are an important tool in technical analysis for both trend identification and confirmation. A trend line is a straight line that connects two or more price points and then extends into the future to act as a line of support or resistance. Many of the principles applicable to support and resistance … [Read more...]
Support and Resistance
Support and resistance represents key junctions where the forces of demand and supply meet. In the financial markets, prices are driven by excessive supply (down) and demand (up).As demand increases, prices advance and as supply increases, prices decline. When supply and demand are equal, prices move sideways as bulls and bears slug it out for control. What Is Support? The … [Read more...]