Eagle Eye Technical Analysis: NIFTY Daily Chart DOUBLE BOTTOM PATTERN & Weekly Chart BULLISH ENGULFING Pattern.

Eagle Eye Technical Analysis: NIFTY Daily Chart DOUBLE BOTTOM PATTERN & Weekly Chart BULLISH ENGULFING Pattern.
Nifty has formed a Double Bottom Pattern after a big price decline. It has clear the reaction high which formed between the low. On other side it has breakouts the sloping trend line as well as closing above the 200SMA. The upside is likely to continue where the calculation target of double bottom pattern is seen around 5260 levels. Before that, there is an interim resistance seen around at 5190 levels as show in chart. On lower side support expected around 4980 levels, one can look these levels on closing basis for reversal.
In Weekly chart Nifty has formed a BULLISH ENGULFING Pattern as well the price breakout above the sloping resistance line.

Note: Trade with Stop Loss.

Eagle Eye Technical Analysis : Nifty Previous Resistance acts as support now.

Eagle Eye Technical Analysis : Nifty Previous Resistance acts as support now.


Nifty daily chart resistance seen around 4930 follow by 5020, on lower side support expected around 4770 follow by 4730.

Note : Trade with Stop loss.

Eagle Eye Analysis: Nifty close below major support levels.

Eagle Eye Analysis: Nifty close below major support levels.
Nifty Weekly Closing below major Support levels of 4900-4880 as well as below 38.2% retracement levels @ 4842.
For the week if Nifty sustains below the major support levels then next area of support expected around 4600 follow by 4450, on higher side interim resistance is seen around 4880-4900.

Note : Trade with stop loss.

Eagle Eye Analysis : NIFTY closing above the support trend lines

Eagle Eye Analysis :NIFTY closing above the support levels
For the week Nifty traded in a range of 46 points and Closing in green up by 0.6%. Once again on weekly chart nifty formed by Positive candlestick pattern Hammer.As well as on other side it has closing above the sloping resistance trend line subsequently turning to support (in blue) and rising trend line (in green).which indicates a potential short-term reaction up where the interim resistance is seen around 4960 follow by 5092. On lower side support is expected around 4865 follow by 4730 levels.To confirm the reversal of the current trend one can watch the nifty follow up by closing above 4960 for this week.
Please find attached chart for reference.

Note : Trade with stop loss.

Eagle Eye Analysis : Nifty finally close @ 4891.45 i.e.between the major support levels of 4900-4880

Eagle Eye Analysis : Nifty finally close @ 4891.45 i.e.between the major support levels of 4900-4880.
For the week Nifty finally close @ 4891.45 i.e.between the major support levels of 4900-4880 formed by Positive candlestick pattern Hammer. The previous sloping resistance trend line subsequently turning to support. As well as on other side rising trend line (in green) is acts as support, which indicates a potential short-term reaction up where the interim resistance is seen around 4960 follow by 5092. On lower side support is expected around 4730 levels.To confirm the reversal of the current trend one can watch the nifty follow up by closing above 4960 for this week.

Note :Trade with a stop loss only.

Eagle Eye Analysis : NIFTY wait and watch for weekly closing

Eagle Eye Analysis : NIFTY wait and watch for weekly closing

Fwd: Eagle Eye Analysis : GOLD daily chart Trading below the support levels

Currently Gold is trading below the support levels of 1578, the further down move is likely to continue where the next support expected around 1554 follow by 1522. For the reversal on higher side resistance is seen around 1605


----- Forwarded Message -----
From: eagleeyeanalysis
Sent: Tue, 8 May 2012 16:47:14 +0530 (IST)
Subject: Eagle Eye Analysis : GOLD daily chart Broken the support trend line.

GOLD @ 1627.44
Eagle Eye Analysis : GOLD daily chart Broken the support trend line.
The Down move is likely to continue where the next area of support seen around 1600-1578 levels. For the reversal on highere side resistance is seen around 1642.

Eagle Eye Analysis : ASIANPAINT Breaks Down Rising Channel

Eagle Eye Analysis : Breaks Down Rising Channel
The stock price of ASIANPAINT has form a rising channel. on 11th may it breaks down and close below the channel.A key support target immediately to the downside on this channel breakdown resides around 3460 -3400 levels, on higher side key resistance within the context of the current bearishness now resides around the 3690 level.
Note:Trade with stoploss