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

Eagle Eye Analysis : AMBUJACEM Daily: Upward breakout from sloping trend line.

AMBUJACEM Daily: Upward breakout from sloping trend line.
The stock price has formed a Piercing Candlestick Pattern during it downtrend follow by the upward breakout from the slopping trend line which indicate a reversal of the current trend.In weekly chart the stock has hold the support of rising trend line.
IF stock price sustain above the support trend line the up move is likely to continue where the next area of resistance is seen around 158-163 levels ,on lower side major support seen around 141 and 138 levels.

Eagle Eye Analysis :GoldBees broken the rising trend line with support of good volumes.

GoldBees broken the rising trend line with support of good volumes.If its sustain below the support trend line then the down move will continue where the next area of support is seen around 2665 follow by 2638 (i.e 200sma). For the reversal on higher side resistance seen around 2765.

Trade With Stop Loss.

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 : EURUSD daily chart Break the support trend line.

EURUSD @ 1.3020
Eagle Eye Analysis : EURUSD daily chart Break the support trend line.
The down move is likely to continue where the next area of support expected around 1.2880 follow by 1.2765. For the reversal on higher side, the resistance seen around 1.3100.

Eagle Eye Technical Analysis : NIFTY and BANKNIFTY

Eagle Eye Technical Analysis : NIFTY and BANKNIFTY
NIFTY : To continue upmove nifty should sustain above the interim resistance levels of 5188-5220.
BANKNIFTY :To continue upmove banknifty should sustain above the interim resistance levels of 10150-10200
Note: Trade with stoploss only.

Eagle Eye Analysis : NIFTY and BANKNIFTY

Eagle Eye Analysis : NIFTY and BANKNIFTY

NIFTY : Major support around 5050-5000
Previous resistance will act as support now.

BANKNIFTY Major support around 9520-9450
Previous resistance will act as support now.

DOW Futures Daily Chart : RISING WEDGE & Preempting the Formation of H&S Pattern

DOW Futures Daily Chart : RISING WEDGE & Preempting the Formation of H&S Pattern.
From the chart it indicate that it has formed a rising wedge pattern, the pattern would be confirm on break of rising trend line (i.e. around 12950) which will act as interim support. If its broken the rising trend line of wedge with the support of good volumes then the next area of support is seen around 12690. on higher side resistance is seen around 13200-13250 levels.
Around the level of 12690 it will generate the H&S Pattern.

Trade with stop loss only.

AXISBANK : Support broken as well as close below 200sma.

AXISBANK : Support broken as well as close below 200sma.

From the chart of Axisbank it show that the price has broken the support trend line with the support of good volumes as well as closing below 200sma. technical indicator RSI and MACD is given negative signal. The price is likely to move down where the next area of support is seen around 1042 follow by 980, on higher side for reversal the resistance is seen around 1120-1125.

HEROMOTOCO : Likely to reversal from the resistance trend line and Evening Star bearish reversal pattern.

HEROMOTOCO : Likely to reversal from the resistance trend line and Evening Star bearish reversal pattern.
The chart of Heromotoco show that it has reversal from the resistance trend line and formed a Bearish reversal pattern Evening star which occured at the end of an uptrend.The current price has broken the rising trend line and closed below.RSI has given Negative divergence signal.The current price is likely to move down where the next area of support seen around 2090 / 2040 , on higher side resistance seen around 2190.

SOBHA : Broken the rising trend line.

SOBHA : Broken the rising trend line.
Stock price of SOBHA made a shooting star candlestick pattern on top, thereafter it follow by confirmation of broken the rising trend line.Technical indicator RSI reversal from the overbought level.The price move is likely to contiune down where the next area of support seen around 308-298 levels, on higher side resistance is seen around 342 levels.

LICHSGFIN : Double Top and broken the rising trend line.

LICHSGFIN : Double Top and broken the rising trend line.
The stock price is likely to move down where the next area of support is seen around 250/243 levels on higher side resistance is seen around 275.

TATAPOWER: Upward breakout and closing above 200sma

TATAPOWER: Stock price of tatapower has breakout from the slopping trend line with support of good volumes as well as closing above 200 sma.Technical indicator MACD and RSI gave positive signal for the up move.
The up move is likely to continue where the next area of resistance is seen around 112.5 / 116.5 on lower side support expected around 103.

COALINDIA : Triangle Breakout with support of good volumes.

COALINDIA : Triangle Breakout with support of good volumes.

Chart of Coalindia has formed a triangle breakout with support of good volumes. Technical indicator MACD is in buy mode.RSI is in bullish zone. The price move is likely to continue where next area of resistance is seen around 360 / 368 levels on lower side support expected around 344 levels.
Trade with stoploss only.

AMBUJACEM : Hold support of trend line as well as formed a Bullish Engulfing Pattern

AMBUJACEM : Hold support of trend line as well as formed a Bullish Engulfing Pattern

Below chart of ambujacem is formed a bullish engufling pattern with support of good volumes, the price movement is likely to reverse above 162.5.
one can buy above 162.5 where the next area of resistance is seen around 168 / 172 on lower side support expected around 156.

BANKINDIA Upward Triangle Breakout above 378 level

BANKINDIA Upward Triangle Breakout above 378 level.
BAnkindia chart has formed triangle pattern and its likely to upward breakout above 378 levels. The upmove will continue where the next area of resistance is seen around 395 and 405 on lower side support expected around 367 level.

OIL : Broken the major support

Below is the chart of OIL, consolidation for last one month thereafter broken the major support as well as rising trend line. Negative divergence in MACD and volumes. If price sustain below the support trend line then the down move will continue where the next support is expected around 99-97-93 levels on higher side resistance seen around 106.

ASHOKLEY broken the support trend line

ASHOKLEY broken the support trend line.

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