October 11, 2010

CHART - II
  • The range of 1160 - 1164 has broken.
  • Trading below 1154 will favour the bears and chances are futures will move towards the lower boundary of the broadening pattern

CHART-I
  • S&P 500 Futures is showing a small range inside the broadening pattern.
  • 1160 - 1164 is the range. Break of 1164 may lead to 1169
  • Break of 1160 will be negative and may push the index to 1155 levels.
CLICK THE CHARTS TO ENLARGE
CHART-II
  • EURUSD Breaks the channel shown below. 1.3786 is the important support area. Breaking below this will favour the bears.
CHART - I
  • 1.3890 is the channel bottom
  • If 1.3890 is held a good up move is possible
  • Break of 1.3890 will be crucial because that breaks an important trend line which will be a bearish event for the short term
  • Apple was trading in a range of 274 - 294
  • A 20 point range. If trades above 294 with good volume the stock should target 304 and 314 as targets.
CLICK THE CHART TO ENLARGE
  • Dow Jones Futures daily chart.
  • Price is finding resistance at 10973 levels.
  • Breakout and trading above this level can take the futures index to 11000 and above that.
  • Next resistance for the SPOT price is around 11200. Spot has to trade above 11000 convincingly for making progress. Slipping below 11000 will be negative
WEEKLY CHART
  • S&P 500 Weekly line chart showing an inverted head and shoulders.
  • This one is targeting 1220. But this will not be a an easy journey for the bulls towards the target. There will be many ups and downs. Daily chart posted in weekend update also so showing an ascending channel, So price will fluctuate within this channel before crossing 1200.
  • S&P 500 WEEKEND UPDATE

  • Nifty futures is trading near support and resistance lines as shown in the hour chart.
  • Important intraday levels for today is 6140 and 6187.
  • Important support for bulls is at 6093.
  • Hour chart may give good direction soon
TODAY'S RANGE IN 5 MINUTES TIME FRAME
  • NF 5 minutes in a 47 points range of 6140 - 6187. Combine this one with the larger range posted below before taking a decision.
CHART-II
  • NF 6093 has given good support and an up move till 6187. More to come above 6187.
CHART - I
  • Nifty futures is showing a large range of 5960 - 6246
  • 6093 will be the midpoint.
  • An up move is possible from 6093 levels.
WEEKLY CHART
  • Nifty weekly chart showing first sign of weakness after 5 weakly green candles in a row.
  • Nifty did not close below 5 day low ema despite the weakness.
  • Staying above 6073 will favour the bulls.
  • NIFTY FUTURES LEVELS
  • TATA STEEL TECHNICAL ANALYSIS
  • BANK NIFTY WEEKEND UPDATE
WEEKLY CHART
DAILY CHART
WEEKLY CHART
  • Tata Steel Weekly chart is showing Bearish engulfing candlestick pattern.
  • MACD indicator for daily chart has given a sell signal. Price has confirmed a sell on rise scenario for this stock.
  • Weekly line chart is showing support between the region of 607 - 619. If the stock gets here we can expect a bounce from here. But If it breaks stock will slip below 600.
  • INTRADAY LIVE CHART FOR TATA STEEL

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