ICICI BANK finding strong trend line support at current levels.

ICICI BANK

• Stock is currently finding strong trend line support at current levels @ 318.50. Chart indicates bulls have some hopes for bounce back as ICICI BANK is falling from 395 levels and that too without correction.
• If stock fails to take this support and closes and holds below 318.50 then further price fall can be seen in coming days. Close Watch.
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• http://tipsonshare.blogspot.com/p/nifty-futures-chart.html.

HDIL has given false bullish breakout resistance, will now favor bulls once it closes and holds above 115.50.

HDIL

• Earlier stock had closed above its major trend line resistance and hence gave a bullish breakout signal.
• But HDIL has come down and indicates that it gave a false signals.
• Stock will now favor bulls and further price rise can be seen once it closes and hold above 115.50.
• Till then bulls needs to be careful at current levels, if stock falls then will find strong fibonacci retracement support around 102. Close Watch.
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BANK NIFTY closed below golden ratio, further weakness can be seen in coming days.

BANK NIFTY CHART

Charts updated for - 10th February 2015.

• Index has closed below its major support i.e golden ratio. Chart indicates as long as Bank Nifty holds below its golden ratio support zone bears will be favored.
• On down side Index will now find strong support around 18211 (level as per line analysis). Bulls have some hopes for bounce back, if Index fails to bounce back and closed below 18211 then further price fall can be seen. Close Watch.
• Click here to read article on - What is Nifty and Nifty Futures.

MCX ALUMINIUM finding strong resistance around 117, will favor bulls once it closes and holds above.

MCX ALUMINIUM

• Metal finding strong fibonacci retracement and 200 days moving average resistance around 117 levels.
• Charts indicates we can see come action once MCX ALUMINIUM closes and holds above 117, till then careful with bullish holdings.
• Above 117 metal will find next strong resistance around 119.50. Close Watch.
• Visit link for free auto buy and sell signals indicator on mcx major. Click link below to see all charts.
• http://niftychart.co.in/mcx-majors.html.

HDIL closed above its major resistance zone @ 113.85.. Further price rise can be seen in coming days.

HDIL

• Stock has made a bullish breakout as HDIL has closed above its trend line and fibonacci retracement resistance zone @ 113.85. Chart indicates as long as holds above bulls will be favored and further price rise can be seen in coming days.
• Previous resistance around 113.85 will now act as a major support for HDIL.
• Once stock closes and holds below 113.85 then stock will give first sign of weakness. Close Watch.
• Stock has also made a breakout with bullish candle pattern this will favor bulls.