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Witnessing weakness in Nickel from 38.2% fibonacci retracement resistance @ 899


MCX - NICKEL
Charts updated for - 26th February 2015.


  • Nickel witnessing selling pressure from 38.2 % fibonacci retracement resistance @ 899, will favor bears as long as holds below.
  • On down side will find support (its previous bottom) around 862. If closes below 862 then bears may get active in Nickel.

Dow Jones closed above its strong trend line resistance zone @ 18103


DOW JONES INDUSTRIAL AVERAGE
Charts updated on - 26th February 2015.



Index has closed above its trend line resistance zone @ 18103, as long as holds above bulls will be favored as its previous resistance will now acting as a major support. Upper side will find next strong resistance around 18450. Close Watch.


MCX LEAD closed below its previous bottom @ 108 hence made a bearish breakout


MCX LEAD
Charts updated for - 26th February 2015.


  • Metal closed below its previous bottom, hence made a bearish breakout.
  • Technical indicates its previous support will now act as a resistance, as long as it holds below its trend line bears will be favored.

TCS witnessing selling pressure form previous top, will now find support around 2658.


TATA CONSULTANCY SERVICES (TCS)
Charts updated on - 26th February 2015.


  • Stock witnessing selling pressure from previous top, chart indicates TCS can see some further weakness.
  • Down side will find fibonacci retracement support as levels mentioned above. Close Watch.

Reliance Industries will be testing strong trend line support around 830 (its previous bottom).


RELIANCE INDUSTRIES
Charts updated on - 26th February 2015.


  • Stock witnessing selling pressure from 100 days moving average.
  • On down side bulls will find some hope of bounce back around 830 (its previous bottom), once Reliance Inds closes and holds below its recent bottom then technically bears will be favored.

BPCL witnessing selling pressure from recent high @ 772.


BPCL
Charts updated on - 26th February 2015.


  • BPCL witnessing selling pressure from recent high, will favor bears as long as holds below 772.
  • Stock will favor bulls once it closes and holds above its recent high @ 772.

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