Sunday, August 4, 2013
Saturday, August 3, 2013
FAG Bearings - Cloud Breakdown - Supports
- For the first time in 2 years, FAG Bearings closes below Weekly Ichimou cloud. Long term trendline already taken out.
- Trending down in a perfect channel.
- MACD Negative Divergence and GMMA levels breakdown.
- Supports at 1135-1150. Close below these levels means retracement for the upmove from 760 and 500 levels.
Berger Paints - Death Cross - Support & Resistance Levels
- Price is trading in a perfect channel.
- On Weekly charts, there is bearish MACD crossover and price bounced from trendline support.
- On Daily charts, price gave a Death Cross and is below Ichimoku Cloud@220 and100 DMA@ 220. Negative Divergences seen in MACD and RSI.
- Next supports- 200 DMA and trading channel support - 191 and 185 respectively.
- Resistance -100 DMA - 220.
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