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.

Tuesday, November 11, 2008

Indofood Agri 111108

Indofood Agri broke the uptrend support (low blue) and the 0.575 volume support (red ...) today. Could it be due to profit taking?

If Indofood Agri opens and trades below the 0.575 support tomorrow, we could see it test the 0.535 support (green ...). However, if Indofood Agri manages to stay above the 0.575 level, we could see it trade sideways between 0.575 and the 0.595 resistance (pink ...).

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For tomorrow :

Support @ 0.575 (red ...), 0.550, 0.535 (green ...), 0.505 (blue ...), 0.500 (mid red), 0.455 (low pink, low red)
Resistance @ 0.575 (red ...), 0.595 (pink ...), 0.605 (upp pink), 0.610 (low blue), 0.620 (upp red, red --)
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