Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Sunday, June 29, 2008

Ferro China 270608

Another counter that gapped down today and formed the Long Legged Doji. Ferro China broke the 1.26 support (green ...) by opening right on the 1.22 support (blue --).

Going by recent market sentiments, it is very likely FerroChina will continue to trade within the downtrend channel (red), and could also possibly test the 1.18 (light blue --).

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For monday :

Support @ 1.22 (blue --), 1.21 (low blue), 1.19 (low red), 1.18 (low pink, light blue --)
Resistance @ 1.237 (mid red), 1.26 (green ...), 1.30 (upp red, blue ...), 1.325 (upp pink)

Hope you find my analysis helpful. Thank you for your support !!
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