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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.

Friday, March 6, 2009

Indofood Agri 060309

Indofood Agri's fortunes took a dramatic twist within a few days. We were just talking about a possible trend reversal on 3 mar, and now Indofood Agri is trading below the 0.525 neckline (red --) again. Volume done today is not even half of yesterday's.

The 0.505 support (pink ...) again seems to be holding out quite well for the time being. We could be looking at Indofood Agri trading between the downtrend resistance (upp red) and uptrend support (mid green).

We could see some action next week as the downtrend resistance (upp red) meets the uptrend support (mid green) at about the 0.495 neckline (green ...). If the 0.495 neckline breaks, we could see Indofood Agri make a swift visit to the 0.470 support (lightblue --).

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For monday :

Support @ 0.505 (pink ...), 0.495 (mid green, green ...), 0.480 (mid red), 0.470 (lightblue --), 0.460 (blue ...), 0.455 (low green), 0.440 (low red)

Resistance @ 0.515 (upp red), 0.525 (upp green, red --), 0.545 (pink --), 0.555, 0.565 (green --)
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