May 27, 2010

NASDAQ 100

  • NASDAQ 100 WILL FIND RESISTANCE IN THE 1850-1855 REGION.
  • IT MIGHT PAUSE HERE BEFORE TAKING THE NEXT DIRECTION
  • IT WILL BE WISE TO BOOK SOME PROFIT IF YOU ARE LONG.
THANK YOU

DOW 4 HOURS CHART

  • DOW JONES HAS TO BREAK ABOVE 10150 FOR COMPLETING A SUCCESSFUL INVERTED HEAD AND SHOULDERS BREAK OUT.
  • BREAK OUT AND TRADING ABOVE 10150 WILL LEAD TO A TARGET OF 10450.
THANK YOU


WEEKLY CHART
  • IF THE STOCK HOLDS 1.4 SUPPORT IT CAN GET BACK UP TO THE TOP OF THE CHANNEL(1.8).
THANK YOU


  • MICROSOFT CORPORATION HAS FORMED A BEARISH ENGULFING PATTERN IN DAILY CHART.
  • STOCK IS TRADING BELOW ITS 200 DAY MOVING AVERAGE
  • HAS CRUCIAL SUPPORT AT 24.95 TRADING BELOW THIS SUPPORT  AREA STOCK MAY SLIP TO 22 INITIALLY.
  • ANY REVERSAL FOR THIS STOCK SHOULD HAPPEN FROM 24.95.
  • EVEN IF THE STOCK RALLIES UP THE 200 DAY MOVING AVERAGE WILL NOW ACT AS RESISTANCE.
THANK YOU

  • Today was a perfect day for a trend follower
  • See how 50 EMA acted as a trend line. price never touched it.
thank you
NIFTY HOUR TRIANGLE
  • BREAK OF THE TREND LINE AND THIS REVERSAL WILL FAIL TOO.
  • BREAK OF THE UPPER LINE AROUND 5040 WILL MEAN A REVERSAL OF DOWN TREND TO A SHORT TERM UPTREND.
THANK YOU

DAILY CHART
NIFTY HOUR
  • Descending broadening wedge patterns usually breaks towards the side were it gave an initial break out. In this case it is down. This is what the rules of the pattern says. But all rules have a certain percentage of failures in stock market.
  • The daily chart descending channel is still valid.
  • The hourly chart descending channel is violated. A reversal attempt for the 2nd time is going on. How long this will last?. Only time will tell.
  • Last high that we made in hour time frame is 5030 so this should be crossed for the short term trend to change.
thank you


  • RUSSELL 2000 GAVE A TREND LINE BREAK TRADE WHEN IT BROKE AN IMPORTANT TREND LINE IN 30 MINUTES.
THANK YOU
INTRADAY UPDATE: TRIANGLE BREAKS ON THE DOWN SIDE

_____________________________________________________________________
S&P 30 MINUTES CHART

  • S & P 30 MINUTES CHART IS SHOWING A TRIANGLE FORMATION
  • BREAK OUT ON EITHER SIDE CAN GIVE 20 POINTS MINIMUM.
  • CAUTION: TRIANGLES ARE KNOWN TO GIVE FALSE BREAKOUTS.
THANK YOU
DOW JONES DAILY CHART
  • DOW JONES MAY FORM AN INVERTED HEAD AND SHOULDER PATTERN
  • RIGHT SHOULDER IS YET TO FORM.
  • BREAKING OF 10150 WILL LEAD TO A TARGET OF 10400 AND 10700.
  • LET THE PATTERN FULLY COMPLETE AND DO A BREAK OUT BEFORE TAKING A LONG POSITION.
THANK YOU

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore