July 1, 2010

DOW FUTURES CHART
  • Dow futures chart in 15 minutes time frame with yesterday's trading range.
  • The bullish move was resisted at yesterday's break down area.
  • SPX too did a similar move. 
  • May be if the bulls are strong they will rewind and try once again to break the resistance
  • S&P 500 has taken support at 1010 area and is now moving up
  • It is trading near yesterdays break down area around 1030.
  • Previous supports will act as resistance so yesterdays break down area should also act as one.
  • If successfully closes above 1030 it should give some relief for the bulls
EUR/USD 4 HOUR CHART
DOW FUTURES
UPDATED CHART SHOWING BREAK OUT
  • A cup and handle pattern is forming in eur/usd pair.
  • I have to say the cup portion has not formed a perfect U. But still ia breakout from the channel in which it is trading now can give the same results.
  • Break of the channel bottom will invalidate this pattern.
  • And the chart is also showing a bull so flag similar results on a break out.
NIFTY SPOT DAILY CHART
NIFTY FUTURES DAILY CHART
NIFTY HOUR CHART

DAILY CHART
WEEKLY CHART

  • S&P 500 was trading in a tight range for quite some time now.
  • It has broken on the down side.
  • If it closes near the low of the day more trouble for the bulls in the days ahead
UPDATED CHART 
  • Apple inc's bearish engulfing trade now almost 20 points from top.
  • Now it is trading below 50 day moving average. But near an important trend line. 
  • One should watch the stock carefully how it reacts from this trend line. If it breaks more down sides are possible


  • Few day's back suggested bearish engulfing in apple.
  • See how effective the pattern is especially when it forms at the top of the trend.
  • Now it is Testing the 50 DMA. 
  • CLICK HERE TO SEE HOW THE CHARTS LOOKED WHEN THE BEARISH ENGULFING FORMED

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