March 15, 2011

  • First chart is the apple daily chart with 50 day moving average. Price has violate 50 day moving average after many months. So the initial fall will be backed by some buying. If price manages to close below 50 dma things will favor bears.
  • Hour chart too has violated the cloud in four hour time frame after a long time. If price manages to close below the cloud this too will favor bears.
  • ES FIBONACCI LEVELS

ES WEEKLY CHART WITH FIB LEVELS
  • ES Weekly chart shows price violating 23.6% level.
  • If price makes a weekly close below this level We will see 1210 - 1220 level which is the 38.2% fib level in weekly chart.
  • ES DAILY CHART ANALYSIS

ES DAILY CHART WITH TREND LINE
ES DAILY CHART WITH DMA
  • ES Daily chart is about to give a bearish cross. 20 day moving average crossing below 50 dma will turn the trend completely in favor of bears.
  • Trend line break in daily chart looks convincing. 1292 level will act as resistance now.
  • First chart shows the likely resistance lines for nifty in daily chart.
  • Price is also approaching its other resistances like 38.2% Fib level and the 50 day moving average.
  • So further upsides will be possible only if nifty manages to stay above these crucial levels.

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.

Followers

Blog Archive

Powered by Blogger.

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