September 23, 2010

  • S&P 500 hour chart with 50 hour moving average.
  • An hourly close below this average may be the first sign of a trend reversal in hour chart.
  • The moving average may give support for the index also.
  • INTRADAY LIVE CHART FOR S&P 500
  • S&P 500 futures breaks down from the broadening pattern.
  • Now 1116 area may give support for the index.
  • If 1116 gives up index will drift to 1112 level.
  • INTRADAY LIVE CHART FOR S&P 500
CHART-II
CHART-I
  • Triangle pattern of nifty futures.
  • Price is trading close to the apex of the pattern. One can expect a breakout or breakdown to happen soon.
  • Nifty one minute chart showing today's small range
  •  Only if nifty breaks out of this range we can expect to see further action.
  • Break out from the above range may give direction for the Triangle mentioned in the earlier POST

  • NF is forming a triangle pattern in its 30 minutes time frame.
  • One has to keep in mind the recent high and low formed in chart while trading this pattern. high at 6045 and low at 5951.
NIFTY DAILY CHART
NIFTY WEEKLY CHART
  • Nifty is being cautioned by the candlestick pattern. Yes cautioned nothing else is shown on the screen that suggests we are close to the top of this bull run.
  • May be a close below 5 day high ema can be considered as weakness.
  • The weekly chart is yet to show weakness.
  • LIVE INTRADAY CHART FOR NIFTY WITH EMA
HOUR CHART
DAILY CHART
DAILY CHART
  • First chart is the hour chart which is still trading above 50 Hour moving average. So the trend in hour chart is still UP.
  • second chart is daily time frame with 10 and 50 DMA. Index is trading above these two DMA. Index has not even violated the 10 DMA yet.
  • Third chart shows the previous resistance area of 1129 which may become support now.
CLICK TO ENLARGE THE CHART
  • Apple is moving up in a channel, shown here with 4 hour time frame.
  • Correction it seems is only possible if the support line of the channel breaks. Till than one can stay with the trend.
  • Gold weekly chart with resistance line.
  • Gold is trading close to its weekly resistance line.
  • Current bull rally may not go above 1320. 
CLICK THE CHART TO ENLARGE

  • EUR/USD pair break out of a rounding bottom formation.
  • If the pair trades above 1.3266 it can target 1.37 and above that.
  • Even the most convincing looking rounding bottom pattern can fail so have tight stop loss
  • Stop loss at 1.3266.
CHART-II
  • Index is again approaching the support line of the broadening pattern, If gets support here another rally favouring bulls can be expected
CHART-I
  • Hour chart of S&P 500 futures has a broadening pattern.
  • Since the price is trading around the support line of the broadening pattern we can expect an up move to happen from here.

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