- Bank nifty's range in weekly line chart is shown in the first chart.
- Down trend line in weekly chart has been violated a shown in 2nd chart. this favors the bulls provided 10600 is protected.
- Daily chart shows resistance at 11360 levels. Price should also move away from 200 DMA for a directional move to happen. 200 dma sometimes has this magnetic effect, price tend to move around it for sometime and then moves away from it.
Posted by San at 9:29 AM
- CSCO Weekly chart shows a possible support line from which a bounce can be expected.
- But a reversal candle is yet to be seen so some more pain can be expected for the bulls.
- If stock continue to break weekly lows we may see the stock dip to the support line in the coming weeks which can take it to $17.50 levels.
- Daily chart shows price trending down below all major moving averages(200 , 50 and 20)
- Price has to close above 20 day moving average for a reversal to be seen.
- SPY Weekend update SPY WEEKEND UPDATE
Posted by San at 12:02 AM
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.