October 20, 2010

  • EUR/JPY Daily Chart is showing good support at 111.40 area.
  • Resistance line seems to be strong as well. So price may spend some time before breaking out of this consolidation pattern.
CHART-II
  • ES Having crossed resistance levels of 1173 and 1178 is looking good for 1182. If sustains above 1178 Price will try to cross 1182 which will favour bulls. Getting resisted and trading below 1178 will drag it lower.
CHART-I
  • S&P 500 Futures resistance levels shown in 30 minutes chart.
  • 1182 is the most important level for the bulls to break above.
  • BAIDU HOUR CHART ANALYSIS
  • Baidu is trading near its 50 hour moving average.
  • Stock is also well supported by the trend line drawn below.
  • If stock slips to the trend line it will be a good buying opportunity. Stock may also give a bounce from the 50 hour moving average
  • S&P 500 Futures made a low of 1155 yesterday.
  • Today price has retraced till 1170 levels. 
  • More upsides are possible only if the 50% level gets broken.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

  • Nifty futures daily candle looks like a pin bar.
  • Pin bar has formed at the apex of the wedge.
  • READING ON PIN BAR FROM BRAMESH TECH ANALYSIS : CLICK HERE

  • NF 5 minutes chart is showing a range of 6012 - 6064.
  • Large Moves can only happen after this range is resolved
CHART-II
  • Triangle breaks the support line.
  • 6003 should give support if NF reaches there.
CHART-I
  • Nifty futures 5 minutes chart shows a triangle formation.
  • If breaks down will be a continuation of the trend in short term charts.
  • FALLING WEDGE OF NIFTY FUTURES - HOUR CHART
CHART-II
  • Support at 6003 has broken 
  • Next support at 5960. 

CHART-I

  • Nifty Futures hour chart is showing a possible falling wedge which can reverse this corrective move.
  • But for this to be an effective pattern NF should break the red line at 6002 and take support at the bottom line.
  • Weekly chart with Fib levels. Resistance seen at 78.6% levels.
  • daily chart is shown with 10 DMA. 
  • SPX breaks and closes below 10 DMA. 
  • During this up move close below 10 DMA has been bought by the bulls. Lets see how this one goes.
  • S&P 500 Futures hour chart with the range.
  • Range has broken on the downside. Now if ES trades below the range, i am expecting to see 1155 soon.
  • EUR JPY CHANNEL BREAKDOWN
  • S&P 500 Futures hour chart with the range.
  • Range has broken on the downside. Now if ES trades below the range, i am expecting to see 1155 soon

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