NIFTY: Didn't Break Resistance

NIFTY Daily Chart Technical Analysis:

NIFTY today had a fall again.  I was expecting this to happen next week but it happened a day sooner.

Close & CMP: 5459

Market Outlook:

The index reversed today after 5 days of rise.  

Technical Indicators:

The momentum showed a slow down today as compared to the previous days and a bearish engulfing candlestick pattern was formed.  Both negative signal.  But the weekly chart momentum has recently shown a rise which is a conflicting signal.  Let's wait a day or two for the final decision on which way this is headed.

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NIFTY Daily Chart Technical Analysis

Spice Jet: In a Price Channel

SPICE JET Daily BSE Stock Chart Technical Analysis:

Spice Jet lost some value again and lost some of the value it had gained a couple of days ago.

Close and CMP: 47.3

Market Outlook:

• The price hit its resistance at 49.50 and fell back.  As visible, the price is stuck in a price channel since 7th Feb '10 and is moving between 49.50 on the upper side and 44 on the lower side.  
• Refrain from trading as of now, until it comfortably goes above 49.50.
• Spice Jet ४९.५० और ४४ के बीच में चल रहा है.  अभी के हिसाब से ४९.५० के ऊपर ही यह शेयर लेना चाहिए. 

Technical Indicators:

• The price formed an evening star candlestick pattern today, and though the momentum has started moving up, the weekly MACD is looking negative and the trading is also lower.  Overall a bag of mixed signals with more negatives.  

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SPICE JET Daily BSE Stock Chart Technical Analysis