NIFTY line chart broke the descending triangle today

• NIFTY descending triangle broken at 5200
• immediate target for nifty should be 5130 and 5090.
• Short covering from oversold levels only possible if the global cues improve.

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DOW JONES main support at 11000 is broken

DOW JONES DAILY

• DOW JONES broken the support at 11000
• 11000 will act as a resistance now.

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ACC moving up in a channel

ACC DAILY CHART

• ACC moving up in a channel 
• trading close to the lower part of the channel. 
• 880 region is crucial a break and close below this means break of the channel line.
• as long as it hods the channel bottom line as support more high's are possible in the coming weeks. 

ULTRATECH CEMENT head and shoulders at the top

ULTRATECH CEMENT DAILY CHART - 1

ULTRATECH CEMENT DAILY CHART - 2

• ULTRATECH CEMNT shows the effect of head and shoulders at the market top.
• for traders it might give a good short term trading opportunity. 
• The stock might get support around 920 rupees 
• the support also coincides with an important trend line.
• One can buy the trend line as stop loss.
• when buying one should be very careful as the stock is in free fall for the las 4 days.

take care

thank you