- SPY 5 Minutes chart shows the day trading in a narrow range after a GAP up.
- Range is between 129.64 - 130.01. Break of 129.64 may lead to 129.20.
- If 129.20 breaks the GAP will fade partially.
- SPY RESISTANCE LEVELS IN DAILY CHART
March 21, 2011
- SPY May do a classic Retest of the 50 day moving average and then start to fall.
- When important moving averages are broken price often retest them before falling deeper.
- Other resistances for spy are the 50% and 61.8% Fib levels in daily chart.
- So bigger up moves will be possible only if price makes a breakout above these levels on closing basis.
- APPLE WEEKEND UPDATE
- Weekly chart of TATA Motors shows price converging between support and resistance lines. Weekly chart may give good direction soon.
- Daily chart is showing a bullish consolidation pattern. But for this one to work in favor of bulls they need to hold on to the 200 DMA. Slip and close below 200 DMA will favor bears.
- INFOSYS CHART ANALYSIS
- First chart is the daily chart of apple. which shows price below 50 day moving average. If 20 day moving average and 50 day moving average gives a bearish cross we may see bears extending their gains.
- The second chart is apple weekly chart with 20 week moving average. Price does not spend too much time below 20 week moving average.
- Last chart shows trend line in weekly chart which can help the bulls.
- MSFT WEEKEND UPDATE
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.