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Showing posts from June, 2013

MCX Copper in Double Correction

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 MCX Copper continuous hourly chart From the above chart, the red metal is moving in a lower high and lower low formation and it is precisely moving in a falling channel Recently the metal faced the resistance of the channel and has broken the support today which opens further negative possibilities. As per wave theory, prices are moving in double correction pattern as per the chart (a-b-c-x-a-b-c) After completing first correction, prices formed wave x close to 740 levels and now since all the important supports are broken it is very much evident that prices are poised to falter and can move below its previous low in form of wave a of second correction. The summation is prices are poised to plunge near till 680-670 levels as far as 733 is intact on the upside.

Gold: Double Bottom Breakout

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Many traders and analysts are not clear for the trend in Gold, but looking at the current chart of Gold prices will now move in a positive direction over short term. We have been continuously watching this precious metal and came to the conclusion that prices will start its up move. This was only possible with the combination of simple technical analysis and advance analysis. The following excerpt is been picked from our daily publication “Commodity Gannalyst” where we had mentioned its crucial support and resistance levels. Gold 1 st Month Contract Analysis From the above chart we can observe that after a sharp fall from 32500 prices came down steeply and found support near 25000. Prices managed to protect its low of 25000 and bounced thus giving and double bottom break out. After the break out prices managed to stay above it which opens positive possibilities and started consolidating by movi

IDFC : How to identify change in trend?

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IDFC was one of the worst performer stock but what was the signal that forced the stock to change the trend? The answer to the above question was only possible with help of advance technicals like Gann Analysis and simple technical analysis such as channels, Fibonacci retracements etc.  IDFC Daily Chart   Analysis:                             From the above daily chart we can observe that prices are moving in a down trend but in the 1 st week of June prices showed a reversal pattern. We have also used price and time grid to find out the change in trend. Price and time grid is very important not only to find out change in trend but also helps us to determine important support and resistance levels.

Hindalco: Catching top Using Price and Time

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Hindalco:  Catching top Using Price and Time While many traders were bullish in this metal stock as it was one of the out performer, but using Gann analysis and simple technical analysis such as channels, Fibonnaci retracement etc, it was easy for us to catch the important top in this metal stock. The below excerpt is been picked from our daily publication, “The Equity Gannalyst” where we have used price and time grid to identify the top. Hindalco Daily Chart: Analysis: From the above daily chart of Hindalco, we can observe that prices after making a low 87 moved higher and in a channelized formation and moved till 50% retracement of the previous down move (135-87). 50% is one of the important retracement level as it has the tendency to reverse once from that level. Prices made a high at 112.55 and reversed which was 50% retracement and also one of the vibratory numbers placed at this level from where prices reversed and moved lower and even breached i

Infosys: Predicting through Gann Analysis

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Infosys : Predicting through Gann Analysis Infosys fourth quarter net profit rose slightly higher-than-expected 3 percent year-on-year (1 percent quarter-on-quarter) to Rs 2,394 crore, helped by higher other income and lower income tax expenses . The above result was declared on 12th of April and as a result we saw the 20% fall on single day in this stock though the results were positive. Is this fall predictable? Using Technical analysis and Advance technical concepts such as Gann Analysis it was easy for us to predict the fall and to predict future movements of this stock. Infosys Daily Chart Analysis: As seen in the above daily chart of Infosys, we can observe that prices have made a double top formation and gave bearish break out which dragged the prices lower soon after results were declared and the stock tanked 20% on that day. The stock price further moved lower and made a low of 2186 in late April 2013. In the month of May the stock moved up an