October 25, 2010

SPY Broadening pattern

  • SPY with its broadening top pattern in hour chart.
  • The resistance line of the pattern was violated today But price has come back into the pattern.
  • Now price is in a range of 118.72 - 119.75. Further large movements will happen only after the violation of this range.

USDJPY Breaks support line

  • USDJPY has broken important support at 80.81.
  • This area will act as resistance now.
  • 81 area is also an important support in the monthly chart.

S&P 500 Trend line Support

CHART-II
  • Trend line violated.
  • shorts will be safe below 1182
CHART-I
  • S&P 500 Futures 15 minutes chart with trend line support.
  • Index is trading close to a trend line.
  • If trend line gives support an up move is possible from this area

APPLE hits the resistance line

  • Apple hits the resistance line in hour chart.
  • Any upsides is possible only if the stock closes above 312 levels.
  • Stock has good support in the form of a trend line.
  • Hour chart should give a breakout soon.
  • APPLE WEEKEND UPDATE

S&P 500 futures before opening bell

  • 4 Hour line chart of ES.
  • The chart shows the resistance the index had around 1181 area.
  • It took the 4 hour chart 4 attempts to clear the resistance. Now that the resistance is broken this level should act as support.
  • S&P 500 WEEKEND UPDATE

Nifty futures support and resistance

  • Nifty futures 30 minutes chart with support and resistance lines.
  • It seems the next big move will occur only after one of these lines get broken.
  • NF has not violated the GAP it has created today morning.

NIFTY Hour Fibonacci levels

  • Nifty futures hour chart with fibonacci levels.
  • If 6114 levels break in Nifty futures the correction may get deeper. Fib levels may come in handy for booking profits.

Nifty Futures Intraday update

CHART-II
  • NF slips below 6145. 
  • Next supports are at 6133 and 6144
CHART-I
  • Nifty futures was trading between 6052 - 6145.
  • NF has given a breakout above 6145.
  • If 6145 holds NF may start moving higher.
  • Breaking below 6145 will be negative

RELIANCE Industries analysis

  • Reliance Industries has good resistance at 1095.
  • On Friday stock came to this level and stopped its up move.
  • any up moves from here can only happen if the stock closes above 1095.
  • MACD is showing  a negative picture but that can change if the stock moves above 1095. 
  • NIFTY WITH 20 SIMPLE MOVING AVERAGE

Nifty with 20 DMA

  • Nifty daily chart with its two recent closes below the moving average.
  • Price is still below the 20 SMA. If price manages to close above 20 SMA and the line drawn at 6127 it will be a good buying opportunity as it closes above 20 SMA.
  • HDIL ANALYSIS.
  • GOLDEN CROSS OF S&P 500

HDIL Technical analysis

DAILY CHART
DAILY CHART
WEEKLY CHART
  • Daily line chart is showing a triangle pattern. One should look for a close outside the triangle pattern for getting in.
  • Along with the triangle pattern one should also keep in mind the position of the 200 DMA . Since the stock is trading close to its 200 DMA. The breakout or breakdown that moves the stock away from 200 DMA will give large moves. But one should make sure that the breakout is sustainable to make such a move.
  • Weekly chart is also close to a make or break area. So for the breakout to enter the stock.