Monday, June 18, 2012

Continue long position in EURUSD | Technical Chart | 18-June-2012

 Below is the technical chart of EURUSD discussed with Ichimoku kinko hyo indicator.


 


EURUSD chart still shows position for long entry. Price and chikou-span are trading above kumo. 1.2580 is acting as strong support for this currency pair and 1.2717 will act as immediate resistance.

Friday, June 15, 2012

Bullish breakout in EURUSD | Technical Chart | 15-June-2012

 Below is the technical chart of EURUSD, on H4 time frame, with Ichimoku kinko hyo indicator.


 


After a long time, EURUSD started trading above kumo, along with chikou-span (CS0 line. That gave clear bullish breakout signal. One can buy this currency pair with a stop loss of 1.2555.


Below 1.2509 is a clear sell signal. Watch these levels carefully.

Thursday, June 14, 2012

Buy SBI | Technical Chart | 14-June-2012

Below is the technical chart of State Bank of India, SBI, listed on Indian stock exchange, using ichimoku kinko hyo indicator.


 


 


 


 


 


 


 


In the last trading session, price of SBI managed to close above kumo, which was its main resistance. Chikou-Span (CS) line has already closed above kumo. That clearly gave bullish breakout. But it with a stop loss of 2096


On the weekly chart, however, it will face resistance at Rs.2267. The major support is @Rs.2051.

Avoid Biocon Ltd. | Technical Chart | 14-June-2012

Below is the technical chart of Biocon Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator. The time frame used here is weekly.


 


 


 


 


On 13-May-2012, the price of Biocon ltd. closed below kumo on weekly time frame. That was its first signal to exit and book profit / loss in this share. From there it started its downward journey and in the last session, it closed around Rs.219. Still, the pirce is trading below kijun-sen line and kumo. Chikou-Span life is also trading below kumo. So, there is not even a single positive factor to buy this stock at current levels.


So, avoid this stock till the price closes above kumo once again.

Nifty Technical chart | 14-June-2012

 Below is the technical analysis of Nifty, using ichimoku kinko hyo indicator.


 


 


  


 


The day Nifty managed to closed above kijun-sen line @5049, it started is immediate uptrend. But, if you look at the chart, it's near kumo, which is its main resistance area. Chikou-Span line is also going to face resistance at kijun-sen line.


On weekly chart, 5138 is the tough resistance ahead. Crossing it, it can lead to 5355.


Take your positions accordingly.