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Don’t trade blindly !!!! – now available
Tuesday, January 5th, 2010Example: How to read Support/Resistance
Wednesday, November 11th, 2009Check this resistance sample line:
94.50|BR-RES| -1349|H| 16| 92.08| 97.90| 5.82|10/23/2009|18
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### Items Listed above in Order above/ Seperate by |
1 Current market price (CMP) Price (94.50)
2 Trend – BL : Bullish above this CMP (SUP – Support)
- BR : Bearish below this CMP (RES – Resistance) (BR)
3 Weight/Strength Count (+ve for Bullish/ -ve for Bearish (-1349)
4 movefrom: (H: from High, L: from low) (H)
5 Total frequency (16)
6 Low Price: Approx Day Lowest price when traded at this CMP (92.08 = 92.10)
7 High Price: Approx Day Highest price traded at this CMP (97.90)
8 Differnce: Average difference Day High Price & Day low price when traded at this CMP (5.82 = 5.80)
9 Last Traded on day – same CMP (10/23/2009)
10 Lastdays: Total Days last traded – same CMP (18)
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Example:: (How to read the Data)
on 10th Novemebr 3I infotech closes 85.75 with Average at 86.32.
What would be support/resistance on 11th November?
94.50|BR| -1349|H| 16| 92.08| 97.90| 5.82|10/23/2009|18
91.50|BL| 748|H| 7| 87.00| 95.42| 8.42|10/26/2009|15
91.20|BR| -11|H| 8| 85.81| 94.90| 9.09|10/26/2009|15
90.50|BL| 589|H| 9| 86.06| 94.46| 8.40|10/26/2009|15
90.20|BR| -12|H| 9| 86.06| 94.46| 8.40|10/26/2009|15
88.50|BL| 1437|H| 16| 84.28| 91.66| 7.38|10/26/2009|15
88.00|BR| -29|H| 16| 83.81| 91.08| 7.27|11/10/2009|0
85.80|BL| 1154|L| 23| 82.19| 88.30| 6.11|11/10/2009|0
85.50|BR| -529|H| 24| 82.21| 88.19| 5.98|11/10/2009|0
82.00|BL| 2033|L| 16| 79.06| 85.60| 6.54|11/05/2009|5
81.70|BR| -22|L| 16| 78.59| 85.33| 6.74|11/05/2009|5
79.20|BL| 1724|L| 20| 76.68| 82.86| 6.18|11/05/2009|5
79.00|BR| -23|L| 19| 76.55| 82.54| 5.99|11/05/2009|5
1) – 85.80 is very important level to be bullish on this counter
- only resistance at 88.00 (very little resistance, weight -29)
- above 88.50 will become more Bullish, little resistance at 90.20 & 91.20
- Only Big resistance at 94.50.
2) If 85.50 breaks, next support is at arround 82.00 (very strong support weight: 2033).
3) if 81.70 breaks (unlikely, weight: -22), next support at 79.20.
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## Conclusion for 11th November 2009:
if 3I Infotech is more likely will trade on 11th November 2009 between,
on Bearish sentiment: 82.00 – 86.00*
on neutral sentiment: 85.00 – 88.00*
on Bullish sentiment: 85.00 – 91.00*
* Prediction for 11th November 2009