Tag Archives: resistance

Tata Tea is approaching short-term top

When Tata Tea reached the 430 level a few days back, it was clearly time to buy. Not only was the overall market in an oversold condition, this particular stock had reached a 123.6% Fibonacci projection of its previous large decline. From the 430 area, we have already seen over 30% gain, and it is natural to start wondering where we will run into some profit taking. Continue reading

Share
Posted in Indian Stocks Trading | Tagged , , , | 4 Comments

Where should we exit GM?

I am quite sure that many traders have gone long on GM expecting a nice rally once the bailout details emerge. Question is, where should we take profits? Take a look at the attached chart. You will see two tops back in mid October. Continue reading

Share
Posted in US Stocks outlook | Tagged , , , , | Leave a comment

O Love of gold! thou meanest of armours!

Sometimes we celebrate too soon. I could be faulted for that vanity quite soon. But the signs are all there. A recovery to very near the resistance at $940 folowed by a $90 drop in a single session can only suggest that (a) there are no fresh buyers out there and (b) some people are actually selling even in the face of continuing troubles in the global financial markets. How else can you explain the gaps! Continue reading

Share
Posted in Gold | Tagged , , , | Leave a comment

Gold is doing its final lap now

Quite a few investors and traders whom I know have been betting big on Gold. For them, this post should should serve as an early warning of what is to come. Once the current strength wanes, the metal will simply … Continue reading

Share
Posted in Gold | Tagged , , | Leave a comment

Gold is doing its final lap

Quite a few investors and traders whom I know have been betting big on Gold. For them, this post should should serve as an early warning of what is to come. Once the current strength wanes, the metal will simply … Continue reading

Share
Posted in Gold | Tagged , , | Leave a comment